Sappi Limited, a leading producer and supplier of diversified paper and packaging products, will be showing its full range of speciality and packaging grades at the 2017 Pack Expo Las Vegas September 25-27, 2017. Sappi is committed to offering customers high-quality, innovative and sustainable specialty products and solutions via its robust global network. "We are experts in what we do and a reliable partner when it comes to challenging packaging solutions as well as the manufacturing processes for these types of packaging,” said Mark Odgers, Director of Packaging, Sappi North America. “In light of the high investment levels and significant amount of work that Sappi has put into packaging and speciality papers, we’re excited to share our full product line and what’s next for us at Pack Expo. We are delighted to invite all visitors to stop by to discuss their specific requirements with us."
Canfor Corporation (TSX:CFP) announced today that its 70%-owned subsidiary, Vida Group, has entered into an agreement to purchase three sawmills located in Sweden from Bergs Timber for a purchase price of CAD$43 million plus working capital.
“We are excited that Vida’s strong performance and balance sheet has enabled them to grow their operating footprint in Sweden,” said Don Kayne, President and Chief Executive Officer of Canfor.
The three mills, which are located in Vimmerby, Mörlunda and Orrefors, Sweden, will add approximately 215 million board feet to Vida’s annual capacity. With additional investment, Vida anticipates the production capacity of the mills can be increased to 300 million board feet.
After taking into account this additional production capacity, Sweden represents 22% of Canfor’s globally diversified operating platforms, plus 43% in British Columbia, 31% in the Southern United States and 4% in Alberta.
The transaction is expected to close in the third quarter of 2020 and is subject to due diligence, completion of certain transaction documents and other customary closing conditions, including any required regulatory approvals.
Following downtime related to the impacts of the COVID-19 pandemic, Vida is operating at full capacity and Canfor continues to employ variable operating schedules in North America with sawmills in the United States operating at almost full capacity and Canadian sawmills operating at approximately 90% effective June 18, 2020.