Weyerhaeuser Completes Montana Timberlands Sale

SEATTLE (Scrap Monster): Weyerhaeuser Company announced that it has completed sale of Montana Timberlands. The sale of 630,000 acres of timberlands to Southern Pine Plantations was for approximately $145 million in cash.

The transaction was initially announced during the month of December last year. It includes a diverse mix of softwood species and an existing 110,000-acre conservation easement.

According to company press release, with this transaction, it owns or operates approximately 11 million acres of timberlands in the U.S., in addition to additional timberlands in Canada, which the company manages under long-term licenses. None of the three Montana facilities are unlikely to be impacted by the sale, it said. Also, the sale is expected to incur minimal tax liability.

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Announcing the development, Devin W. Stockfish, president and CEO of Weyerhaeuser stated that the sale of Montana timberlands was part of its ongoing efforts to strategically optimize its timberland portfolio. He thanked the employees for their cooperation in operating safely through the process as well as for their contributions to Weyerhaeuser over the past several years.

The company had recently sold 550,000 acres of northern Michigan timberlands to Lyme Great Holding LLC. for a sum of $300 million in cash.