Weyerhaeuser Co., Seattle, Wash., USA, this week announced the exploration of strategic alternatives for its timberlands and manufacturing operations in Uruguay. The company intends to consider a broad range of alternatives, including continuing to hold and operate the business, or a sale.

"In Uruguay, Weyerhaeuser has established a high-quality timberlands portfolio supported by value-creating manufacturing operations and a team of dedicated employees," said Doyle R. Simons, president and CEO. "Following our merger with Plum Creek, we are evaluating strategic alternatives for this business to best position it for long-term success and ensure we are maximizing value for our shareholders."

Weyerhaeuser established its operations in Uruguay in 1997. Today, its business there includes more than 300,000 acres (120,000 hectares) of timberlands in northeastern and north central Uruguay, as well as a plywood and veneer manufacturing facility, a cogeneration facility, and a seedling nursery. 

Weyerhaeuser notes that the review of the Uruguay operations does not guarantee that it will pursue a transaction, or that a transaction would be completed if initiated. 

Weyerhaeuser, one of the world's largest private owners of timberlands, began operations in 1900. It owns or controls more than 13 million acres of timberlands, primarily in the U.S., and manages additional timberlands under long-term licenses in Canada. It manages these timberlands on a sustainable basis in compliance with internationally recognized forestry standards. The company, a real estate investment trust , also is one of the largest manufacturers of wood and cellulose fibers products.

 

In February 2016, Weyerhaeuser merged with Plum Creek Timber Co. In 2015, the two operations, on a combined basis, generated approximately $8.5 billion in net sales and employed nearly 14,000 people who serve their customers worldwide.