Longview Timber Acquisition Expands Weyerhaeuser Holdings in Pacific Northwest by 33%
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Weyerhaeuser Co., Federal Way, Wash., USA, has completed the acquisition of Longview Timber from affiliates of Brookfield Asset Management. The acquisition includes approximately 645,000 acres of high-quality timberlands in Washington and Oregon, which expand Weyerhaeuser's timber holdings in the Pacific Northwest by 33% to approximately 2.6 million acres. The transaction increases the total amount of U.S. timberlands Weyerhaeuser owns or controls to approximately 6.6 million acres.
"This acquisition is a truly unique opportunity for us to grow our high-value timberlands assets west of the Cascade Mountains," said Dan Fulton, president and CEO. "This region provides excellent soil and climate conditions for growing Douglas fir, which is a preferred species for many of our customers. We intend to leverage our silviculture, infrastructure, logistics, and marketing expertise to realize the full potential of these lands, which are highly complementary to our existing ownership in the area."
Weyerhaeuser owns or controls approximately 6.6 million acres of timberlands, primarily in the U.S., and manages another 14 million acres under long-term licenses in Canada. It also is one of the largest manufacturers of wood and cellulose fibers products, and develops real estate, primarily as a builder of single-family homes.
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