Weyerhaeuser is to sell 344,000 acres of timberlands in Tennessee and the Carolinas in order to improve operating efficiencies and balance its portfolio.
Following the deal, for an undisclosed amount, the company will not own any timberlands in Tennessee or South Carolina. It will own or manage about 552,000 acres in North Carolina.
Weyerhaeuser’s purchase of rival Willamette Industries last year gave it an additional 1.7 million acres. Its total softwood holdings stand at about 7.4 million acres.
