A Swedish lumber company that is majority owned by Canfor Corp. (TSX:CFP) is investing $80 million in mill expansion, Canfor announced today.
Vida AB will be making the investment in its Bruza Sawmill in Hjältevad to expand production from 175 million board feet to 240 million board feet. Canfor owns 70 per cent of Vida.
“This major investment includes a new high capacity planing mill equipped with the latest technology, a new boiler, wood drying kilns and warehouse,” Canfor said in a press release.
Construction of the planing mill will commence in spring 2024 and is expected to be in full production in 2026.
Canfor acquired 70 per cent of Vida Group in 2028 for $580 million. Vida owns 12 sawmills in Sweden.
