Companies in the timber industry / Daily News / Forestry / Lumber / Sawmilling / Wood Products / Europe / Global
November 20, 2018
Canfor to remain committed to BC, despite recent European acquisition, CEO says
Canfor has reach an agreement to buy 70 per cent of Vida Group for about $580 million. The privately-held company has nine sawmills in southern Sweden with an annual production capacity of 1.1 billion board feet. The announcement comes about a week after Canfor said it will be buying Elliott Sawmilling Co., Inc., based in South Carolina, for US$110 million, subject to due diligence. In late October, Canfor reported third-quarter earnings of $125.3 million, doubled from the year before despite lower lumber prices.   ...
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