Weyerhaeuser is selling 140,000 acres of Oregon timberland for US$300m.
The sale of non-strategic timberland to investment company the Campbell Group is expected to be completed in the third quarter.
It will contribute around $100m after tax to third-quarter earnings and represents Weyerhaeuser’s continued focus on improving financial flexibility and liquidity.
Weyerhaeuser also said it will hold discussions with interested buyers to evaluate the sale of an additional 82,000 acres in Washington state.
This parcel of land and the timberland deal agreed with the Campbell group represents about 10% of Weyerhaeuser’s land holdings in the Pacific Northwest.
“We have a competitive advantage in growing and processing Douglas fir, and the sale focuses our western operations on managing that species,” said the company’s president and CEO Dan Fulton.
“While the land sold and for sale is high-quality, productive timberlands, the stands are predominantly hemlock, spruce and species other than Douglas fir.”
