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 | Nov 9, 2015 | News
From: Panel World Staff
Weyerhaeuser Co. and Plum Creek announced a merger that will leave nearly two-thirds majority ownership in Weyerhaeuser shareholder hands. The combined company creates a $23 billion timber REIT (Real Estate Investment Trust) with more than 13 million acres of timberland in the U.S.
The combined company will retain the Weyerhaeuser name. As previously announced, Weyerhaeuser intends to move its headquarters to Seattle in mid-2016. Weyerhaeuser brings nearly 7 million acres and Plum Creek 6.3 million acres to the deal.
Weyerhaeuser also announced it is exploring “strategic alternatives” for its Cellulose Fibers business, including a possible sale. The company’s Cellulose Fibers business includes pulp mills in Port Wentworth, Ga.; Vanceboro, NC; Grande Prairie, Alberta; and a modified fiber mill in Columbus, Miss.; as well as other facilities internationally.
Plum Creek operates a medium density fiberboard plant, plywood mill and a board sawmill in Columbia Falls, Mont.; a plywood mill in Kalispell, Mont.; and a stud mill in Kalispell/Evergreen, Mont.
Weyerhaeuser operates approximately 11 sawmills in the Southern U.S., four in the Northwest and three in Canada. It also operates various engineered wood products facilities in North America.
Weyerhaeuser’s Doyle Simons will serve as president and CEO of the combined company. Plum Creek’s Rick Holley will serve as non-executive chairman of Weyerhaeuser’s board, which will be expanded to 13 directors, which will include eight directors from Weyerhaeuser and five from Plum Creek.
The transaction requires the approval of shareholders of both Weyerhaeuser and Plum Creek and is subject to customary closing conditions. The transaction is expected to close in late first quarter or early second quarter of 2016.
