Canadian lumber giant Canfor announced that Vida Group, its 70-percent-owned subsidiary, will purchase three sawmills in Sweden from Bergs Timber. The purchase price is $43 million.
The $110 million USD acquisition was announced in November 2018, with completion to take place in two phases, 49 percent being acquired at closing and 51 percent acquired one year later.
In the United States, Canfor Southern Pine operations will be taking a series of actions to reduce operating capacity by approximately 40 percent or 50 million board feet over a four-week period.
Canadian lumber giant Canfor has agreed to go private, selling its remaining shares to Great Pacific Capital at a price of $16 per common share - or around $981.6 million.
VANCOUVER, B.C. -- Canadian forest products giant Canfor Corp. has received an unsolicited and non-binding proposal from Great Pacific Capital Corp. Great Pacific suggested that it would be willing to acquire all outstanding common shares of Canfor (excluding those already directly or indirectly owned by Great Pacific) at a price of $16 per common share - or around $981.6 million.
Canadian lumber giant Canfor continues restricting production - this time shutting down one British Columbia sawmill and a permanent shift elimination at another.