Weyerhaeuser completes Montana timberlands deal
Forest products giant Weyerhaeuser announced that it has completed the sale of 630,000 acres of Montana timberlands to Southern Pine Plantations in a $145 million cash deal.
The move was originally announced last December. Weyerhaeuser’s three manufacturing facilities in Montana are not affected by this sale.
"The sale of our Montana timberlands is part of our ongoing effort to strategically optimize our timberland portfolio," said Devin Stockfish, president and CEO of Weyerhaeuser. "I want to thank the employees of the Montana timberlands team for continuing to operate safely throughout this process, and for their contributions to Weyerhaeuser over the years."
Based in Seattle, Wash., Weyerhaeuser owns or controls approximately 11 million acres of timberlands in the United States and manages additional timberlands under long-term licenses in Canada.
Last November, Weyerhaeuser completed the sale of 550,000 acres of timberlands in Michigan to Lyme Great Lakes Holding LLC in a $300 million cash deal.
The move was originally announced last December. Weyerhaeuser’s three manufacturing facilities in Montana are not affected by this sale.
"The sale of our Montana timberlands is part of our ongoing effort to strategically optimize our timberland portfolio," said Devin Stockfish, president and CEO of Weyerhaeuser. "I want to thank the employees of the Montana timberlands team for continuing to operate safely throughout this process, and for their contributions to Weyerhaeuser over the years."Based in Seattle, Wash., Weyerhaeuser owns or controls approximately 11 million acres of timberlands in the United States and manages additional timberlands under long-term licenses in Canada.
Last November, Weyerhaeuser completed the sale of 550,000 acres of timberlands in Michigan to Lyme Great Lakes Holding LLC in a $300 million cash deal.