Plum Creek completes acquisition

Plum Creek Timber Co. completed the acquisition of approximately 501,000 acres of industrial timberlands, associated mineral and wind assets, and interests in approximately 109,000 acres of high-value rural and development quality lands from MeadWestvaco Corp.

“Through this cash-accretive transaction, Plum Creek meaningfully grows our core timber management business, while also adding to our land and non-timber resources businesses,” said Rick Holley, CEO. “By significantly increasing our assets in the Southeast, we expand our presence in key markets, enhance our ability to service customers and are well positioned to capture value from these assets as markets continue to improve.”

Plum Creek owns about 6.8 million acres of timberlands in major timber-producing regions of the United States and wood products manufacturing facilities in the Northwest.