Canfor completes purchase of Swedish lumber producer

Canfor Corp. has closed the deal on acquisition of Swedish lumber producer VIDA Group.

The B.C.-based company said Thursday it has completed the purchase of 70 per cent of Vida's shares for $580 million. The move was first announced in November.

article continues below

"We are excited to welcome the VIDA team to Canfor and we are looking forward to working with VIDA to develop our business on a global scale," Canfor president and CEO Don Kayne said in a release.

"We respect VIDA's team, the quality of the wood products they produce, their strong customer relationships, and most importantly the value of the VIDA brand worldwide."

VIDA, a privately-held company, has nine sawmills in southern Sweden with an annual production capacity of 1.1 billion board feet.

Read Related Topics

Comments

NOTE: To post a comment you must have an account with at least one of the following services: Disqus, Facebook, Twitter, Google+ You may then login using your account credentials for that service. If you do not already have an account you may register a new profile with Disqus by first clicking the "Post as" button and then the link: "Don't have one? Register a new profile".

The Prince George Citizen welcomes your opinions and comments. We do not allow personal attacks, offensive language or unsubstantiated allegations. We reserve the right to edit comments for length, style, legality and taste and reproduce them in print, electronic or otherwise. Comments that contain external links will not be permitted. For further information, please contact the editor or publisher, or see our Terms and Conditions.

comments powered by Disqus

TransMountain pipeline expansion POLL

Do you support the federal government’s decision to go ahead with the TransMountain pipeline expansion?

or  view results

Sign Up For Our e-Newsletter!
  • 97/16

    Prince George's Weekly News

Popular Citizen

Community Event Calendar


Find out what's happening in your community and submit your own local events.

Lowest Gas Prices in Prince George
Prince George Gas Prices provided by GasBuddy.com