SEATTLE, Nov. 1, 2016 /PRNewswire/ -- Weyerhaeuser Company
(NYSE: WY) today announced the completion of the sale of North
Pacific Paper Company ("NORPAC"), the company's printing papers
business, to an affiliate of One Rock Capital Partners, LLC.
The transaction includes the printing papers mill located in
Longview, Wash.
Weyerhaeuser expects to use a substantial portion of the
after-tax proceeds for the repayment of debt. Terms of the sale
were not disclosed.
ABOUT WEYERHAEUSER
Weyerhaeuser Company, one of the
world's largest private owners of timberlands, began operations in
1900. We own or control more than 13 million acres of timberlands,
primarily in the U.S., and manage additional timberlands under
long-term licenses in Canada. We
manage these timberlands on a sustainable basis in compliance with
internationally recognized forestry standards. We are also one of
the largest manufacturers of wood and cellulose fibers products.
Our company is a real estate investment trust. In February 2016, we merged with Plum Creek Timber
Company, Inc. In 2015, Weyerhaeuser and Plum Creek, on a combined
basis, generated approximately $8.5
billion in net sales and employed nearly 14 thousand people
who serve customers worldwide. We are listed on the Dow Jones World
Sustainability Index. Our common stock trades on the New York Stock
Exchange under the symbol WY. Learn more at
www.weyerhaeuser.com.
FORWARD-LOOKING STATEMENTS
This communication contains
statements concerning the company's future results and performance
that are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, including,
without limitation, the use of proceeds from the NORPAC
transaction. These forward-looking statements are based on various
assumptions and may not be accurate because of risks and
uncertainties surrounding these assumptions. Factors listed above,
as well as other factors, may cause actual results to differ
significantly from these forward-looking statements. The company
will not update these forward-looking statements after the date of
this news release.
For more information contact:
Media – Anthony
Chavez, 206-539-4406
Financial Media – Andrew
Siegel, 212-355-4449
Analysts – Beth Baum, 206-539-4450
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SOURCE Weyerhaeuser Company