The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Business Wire

Weyerhaeuser Completes Sale of Hardwoods Business

Monday, August 01, 2011

Weyerhaeuser Completes Sale of Hardwoods Business19:07 EDT Monday, August 01, 2011 FEDERAL WAY, Wash. (Business Wire) -- Weyerhaeuser Company (NYSE: WY) today announced it has completed the sale of its hardwoods business to American Industrial Partners. Total proceeds from the sale will be approximately $108 million. Assets included in the transaction are located in Tuscumbia, Ala.; Elkhart, Ind.; Grand Rapids and Lewiston, Mich.; Brainerd, Minn.; Coos Bay, Eugene and Garibaldi, Ore.; Titusville, Pa.; Arlington, Centralia and Longview, Wash.; and Dorchester and Onalaska, Wis. The business manufactures and distributes appearance lumber and plywood for use in cabinets, mouldings, architectural millwork, panel furniture and retail boards. It also makes material for use in pallet cants and ties. About Weyerhaeuser Weyerhaeuser Company, one of the world's largest forest products companies, began operations in 1900. We grow and harvest trees, build homes and make a range of forest products essential to everyday lives. We manage our timberland on a sustainable basis in compliance with internationally recognized forestry standards. At the end of 2010, we employed approximately 14,000 employees in 10 countries. We have customers worldwide and generated $6.6 billion in sales in 2010. Our stock trades on the New York Stock exchange under the symbol WY. Additional information about us is available at http://www.weyerhaeuser.com. Weyerhaeuser CompanyMediaBruce Amundson,253-924-3047orAnalystsKathryn McAuley,253-924-2058