Canfor subsidiary expands in Sweden

Canadian lumber producer Canfor announced that VIDA AB will acquire a 50-million-board-foot sawmill from Ingarp Träskydd for 50 million SEK (CAD$6 million/US$4.45 million). 

Canfor owns 70% of Vida and said the sawmill has the potential for expansion to 100 million board feet.

The transaction is expected to close on Oct. 3, 2023. The acquisition marks a continued investment in the area around Vida's sawmills in Hjältevad and Vimmerby, Canfor said.

At the time of its majority acquisition by Canfor in February 2019, Vida stood as Sweden’s largest privately-owned sawmill operation with an annual capacity of 1.1. billion board feet per year.

In 2020 Vida expanded with the purchase of three sawmills from Bergs Timber.

Based in Vancouver, British Columbia, Canfor operates more than 55 facilities across its diversified operating platform in Canada, the United States, and Europe. 

In addition to lumber, the company produces engineered wood products, pulp and paper, wood pellets, and green energy.