Canfor Corporation announces the acquisition of an additional 7% of Vida AB’s outstanding shares, raising its total ownership to 77%. This transaction involved the exercise of option privileges under a February 2019 agreement, when Canfor initially purchased 70% of Vida AB, Sweden’s largest privately owned sawmill company, for SEK 3,990 million (approximately C$580 million).
In the second quarter of 2024, Canfor posted a significant operating loss of $251 million, contrasting sharply with the nearly SEK 300 million profit reported by Vida, its European subsidiary. Canfor’s third-quarter 2024 report highlights improved results in Europe, despite persistent pricing pressures in North America.
