SWEDEN (News release) -- Vida AB, owned 70% by Canfor Corporation, will acquire a 50 million board feet sawmill from Ingarp Träskydd for 50 million SEK (CAD$6.0 million). The sawmill has the potential for expansion to 100 million board feet and the transaction is expected to close on October 3, 2023. The strategic acquisition marks a continued investment in the area around Vida's sawmills in Hjältevad and Vimmerby, said Canfor in a statement.

In May 2023, Vida announced the completion of a major investment program at the Borgsten sawmill, which resulted in an increase in production by approximately 40% from 300,000 m3 to 420,000 m3 per year.

In August, Vida CEO Måns Johansson was named president of Canfor Europe.

Vida is Sweden's largest sawmill group with 12 sawmills in Götaland, southern Sweden.