Weyerhaeuser-owned mills for sale
June 13, 2008 · Updated 12:57 PM
Weyerhaeuser is considering alternatives for its fine-paper business, including a possible sale of those operations.
The company announced last Wednesday thats involved in active discussions with several parties that wont necessarily discussions will lead to an agreement or result in a transaction.
These are excellent assets operated by dedicated and knowledgeable employees who continue to make these mills among the best in the white paper industry, said Steven R. Rogel, chairman of Weyerhaeuser. I appreciate our employees ongoing efforts to serve customers while we complete this review.
Weyerhaeuser (www.weyerhaeuser.com), based in Federal Way and one of the worlds largest forest products companies, was incorporated in 1900. In 2005, sales were $22.6 billion. It has offices or operations in 18 countries, with customers worldwide.
In a separate announcement, Weyerhaeuser said April 20 it has reached an agreement in principle to sell its composite panels business to two companies and is entering into final negotiations.
Weyerhaeuser was negotiating with Flakeboard Company Ltd. for the sale of its six composite mills in the United States. The locations include Albany and Eugene in Oregon, Bennettsville, S.C., Malvern, Ark. and Simsboro, La.
The mills, which produce medium density fiberboard (also known as particleboard), have the capacity to produce 1.1 billion square feet of board annually.
In Europe, Weyerhaeuser is negotiating with Coillte for the sale of the Medite MDF facility. The mill, located in Ireland, has an annual capacity of 230 million square feet, company officials said.
Flakeboard is based in Canada. Coillte is a commercial forestry company in Dublin, Ireland.