by Web Editor | Oct 14, 2016 | News
Real estate investment trust Weyerhaeuser Co. said on Wednesday it was exploring strategic alternatives, including a possible sale, for its timberlands and manufacturing operations in Uruguay.
The Uruguay operations include more than 300,000 acres of timberlands in northeastern and north central Uruguay, a plywood and veneer manufacturing facility, a cogeneration facility and a seedling nursery, the company said.
“This is a strategic revision with various possibilities: one is a sale but another is maintaining operations just as they are today,” the company’s South America Director Alvaro Molinari told Reuters.
Weyerhaeuser has been restructuring its business since it bought Plum Creek Timber Co. Inc in February, combining the two largest owners of timberland in the United States. Since then, Weyerhaeuser has said it would sell its pulp business to International Paper Co. for $2.2 billion and its liquid packaging unit to Nippon Paper Industries Co. Ltd for about $285 million.
Weyerhaeuser said this month it would sell its North Pacific paper unit to private company One Rock Capital Partners LLC.
From Reuters: https://www.reuters.com/article/weyerhaeuser-divestiture-idUSL4N1CI4DI
by Web Editor | Apr 6, 2015 | News
A gradual increase in housing starts across the U.S. and better timber prices are two factors behind Plum Creek Timber Co.’s decision to invest $10 million in plant improvements at its Northwest Montana manufacturing plants.
“We’re optimistic overall for another good year,” said Tom Ray, Plum Creek’s vice president of northwest resources and manufacturing. “The largest single concern is the lack of raw materials, but we’re hoping Congress will address that.”
One of the largest landowners in the U.S., Plum Creek had a strong year in 2014, reporting earnings of $214 million on $1.48 billion in revenues. Harvest numbers were 13 percent over 2013. But timber resources in Northwest Montana can be a concern. Last year, Plum Creek cut back hours for workers at the Columbia Falls sawmill from 40 hours per week to 36 after a federal court ruling blocked several timber sales on state forest land. “We had a decline there, but once we get past breakup and into early summer, we’re hopeful to go back to a regular schedule,” Ray said.
Plum Creek plans to invest $6 million at its medium-density fiberboard plant in Columbia Falls. The No. 1 line, which was built in 1974 and manufactures panels up to 1 1/4 inches thick, will see $1.6 million for improvements to reliability and efficiency. Another $300,000 will be spent on computer equipment and monitoring cameras.
The company also plans to spend $2 million on the MDF plant’s No. 2 line, which was built in 2001 at a cost of $80 million and produces thin panels one-tenth of an inch thick. The furniture industry is a major customer, but other businesses now use MDF products.
From Hungry Horse News: https://www.flatheadnewsgroup.com/hungryhorsenews/plum-creek-to-invest-mil-in-local-plants/article_e8e443a2-d883-11e4-ad41-cfbdb6471aba.html
