Weyerhaeuser buys forests in the US-Northwest

Article by Robert Spannlang, edited for Timber-online | 19.06.2013 - 16:11

$2.7 bn-investment thought to reach $40 m synergies until 2015

Weyerhaeuser, Federal Way/US, announced it has signed a definitive stock purchase agreement to acquire Longview Timber LLC from affiliates of Brookfield Asset Management Inc. for $2.65 billion. The transaction is expected to close in July 2013. The company is acquiring about 645,000 acres of unique, high-quality timberlands in Washington and Oregon. This transaction will increase Weyerhaeuser’s total amount of US timberlands it owns or controls to about 6.6 million acres. The company expects to reach annual synergies of around $20 million within two years of closing.

"The acquired timberlands are highly complementary to our existing acreage in Washington and Oregon, where we have more than 100 years of experience managing Douglas fir", says Dan Fulton, Weyerhaeuser's CEO and president.