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VIDA plans to invest in Bruza Sawmill in Hjältevad

 Friday, December 8, 2023

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Canfor Corporation

VIDA AB, owned 70% by Canfor Corporation (TSX:CFP), recently announced it plan to invest approximately 700 million SEK (CAD$85 million) at its Bruza Sawmill in Hjältevad. This is a way to expand production from 175 million board feet to 240 million board feet. This major investment includes a new high capacity planing mill equipped with the latest technology, a new boiler, wood drying kilns and warehouse.

Expressing his excitement about this new investment, Måns Johansson, CEO of Vida
AB and President, Canfor Europe said, “I’m very happy that we’ve made this decision to increase our capacity in eastern Småland, together with our sawmills in Vimmerby and Mörlunda. This investment clearly demonstrates that we believe in wood as the material of the future, and in Hjältevad as a place to grow our business.”

Construction of the planing mill, which is being designed to efficiently process lumber for all of Vida’s markets, will commence in spring 2024. It is expected to be in full production in 2026. Vida will grow its Bruza team as it introduces a second production shift with the increased capacity. The planing mill will be
supplied by C Gunnarssons Verkstads AB from Vislanda, Sweden which has been supplying the European
sawmill industry for over 60 years.

Canfor is a global leader in the manufacturing of high-value low-carbon forest products including dimension and specialty lumber, engineered wood products, pulp and paper, wood pellets and green energy. Headquartered in Vancouver, British Columbia, Canfor produces renewable products from sustainably managed forests, at more than 55 facilities across its diversified operating platform in Canada, the United States and Europe. The Company has a 70% stake in Vida AB, Sweden’s largest privately owned sawmill company and also owns a 54.8% interest in Canfor Pulp Products Inc. Canfor shares are traded on The Toronto Stock Exchange under the symbol CFP. With further concrete investments, the company plans to further strengthen its production process while paving better business growth.

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