Swedish lumber producer Vida invests in sales company and warehouse in Brisbane

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Swedish lumber producer Vida AB is investing 20 million Swedish Kronor (around EUR 2.1 million) in a sales company and warehouse in Brisbane, Australia, according to an Esmerk News Feed report circulated by Acquire Media's NewsEdge service.

Vida had sold wood products in Australia through an importer, and was achieving an annual volume of 4,000-10,000 m3, the Jan. 13 report said. By running its own operation in Brisbane, Vida expects to increase its rate of annual sales in Australia to 100,000 m3 within six months.

Vida specializes in the production of structural timber at its 17 production facilities in Sweden, which employ around 900 people, according to the company's website. Around 85% of Vida's production is exported to Europe, the U.S. Australia, Africa and Asia, with sales of sawn wood products managed through sales company Vida Wood.


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