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M\u00e5ns Johansson has been Vida's CEO since 2019 and before that was sales manager for the group.\u00a0Now he will assume the role of President of Canfor Europe. <\/span><\/p>\n Since 2019, the Canadian company Canfor has owned 70 percent of the shares in Vida, and now M\u00e5ns Johansson takes on the role of President of Canfor Europe while also remaining as CEO of Vida.<\/p>\n ''We want to continue to look for opportunities to grow and increase our involvement in Europe.\u00a0Due to this, we have gathered all European initiatives under one umbrella which will now be led by M\u00e5ns Johansson.\u00a0M\u00e5ns brings with him considerable knowledge of the European forest industry and he is very customer-oriented and has successfully managed Vida in recent years,'' says Don Kayne, CEO of Canfor, in a press release.<\/p>\n Canfor reports loss in Q2\/2023<\/strong><\/p>\n Canfor\u00a0Corporation reported an operating loss of $66.7 million for the Q2 2023, compared to an operating loss of $208.5 million in the Q1 2023. After taking into consideration a net $57.4 million reversal of a previously recognized inventory write-down, the Company\u2019s adjusted operating loss was $124.1 million for the Q2 2023, compared to an adjusted operating loss of $146.4 million for the Q1 2023. These results were driven by improved lumber segment earnings, offset in part by a decline in pulp and paper segment results.<\/p>\n For the lumber segment, adjusted results increased $31.4 million quarter-over-quarter principally reflecting the benefit of global diversification, with strong earnings from the Company\u2019s European and US South operations. Results from the Company\u2019s Western Canadian operations continued to be challenging quarter-over-quarter driven largely by the ongoing high-cost operating environment in British Columbia (\u201cBC\u201d). For the quarter overall, results reflected generally weak lumber benchmark pricing, as a 7% decline in the average North American Random Lengths Western Spruce\/Pine\/Fir (\u201cSPF\u201d) 2x4 #2&Btr was offset in part by stable Southern Yellow Pine (\u201cSYP\u201d) East 2x4 #2 pricing, higher pricing for certain SYP wider-width dimension products and an uplift in European market pricing. These pricing factors were coupled with higher North American production and shipment volumes in the current period despite the ongoing market-related temporary downtime and sawmill closures in BC.<\/p>","protected":false},"excerpt":{"rendered":" M\u00e5ns Johansson has been Vida’s CEO since 2019 and before that was sales manager for the group.\u00a0Now he will assume the role of President of Canfor Europe. Since 2019, the Canadian company Canfor has owned 70 percent of the shares … Continue reading