US timber company Crown Pacific Partners intends to sell a distribution site in Reno, Nevada, to help ease its debt burden.
The sale of the site to Reno Lumber for US$16.2m is part of a programme of asset sales designed to satisfy creditor claims. The company has already sold a retail location in Las Vegas for US$12m.
The Portland-based company, which operates three sawmills and owns 524,000 acres of timberland in Washington and Oregon, filed for bankruptcy protection last summer with a debt of US$547m.
