Canfor Corporation: Vida AB to close two sawmills in southern Sweden

VANCOUVER, British Columbia, May 18, 2026 (GLOBE NEWSWIRE) -- Canfor Corporation (TSX: CFP) announced today that its 77%-owned subsidiary, Vida AB, will permanently close its sawmill operations in Urshult and Orrefors, Sweden.

"While this was a difficult decision, the closures are necessary given the ongoing imbalance between production capacity and access to fibre in southern Sweden," said Karl-Johan Löwenadler, CEO of Vida AB. "By concentrating production in fewer more productive and efficient facilities, we will strengthen Vida's competitiveness and better position the business for the future."

The closures will reduce Vida's annual lumber production capacity by approximately 265,000 cubic metres. Following the closures, Vida will operate 13 sawmills across central and southern Sweden, along with its other facilities in packaging, specialty finishing, and logistics.

Forward-looking statements.

Certain statements in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "projects", "intends", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on Management's current expectations and beliefs and actual events or results may differ materially. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Forward-looking statements are based on current expectations and Canfor assumes no obligation to update such information to reflect later events or developments, except as required by law.

About Canfor.

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. Proudly headquartered in Vancouver, British Columbia, Canfor produces renewable products from sustainably managed forests, at more than 50 facilities across its diversified operating platform in Canada, the United States and Europe. The Company has a 77% stake in Vida AB, Sweden's largest privately owned sawmill company. Canfor shares are traded on the Toronto Stock Exchange under the symbol CFP. For more information visit canfor.com.

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