Weyerhaeuser completes sale of Montana timberlands

Date : 03/26/2020 @ 11:17PM
Source : PR Newswire (US)
Stock : Weyerhaeuser Company (WY)
Quote : 16.95  0.0 (0.00%) @ 9:08PM
After Hours
Last Trade
Last $ 16.95 ◊ 0.00 (0.00%)

Weyerhaeuser completes sale of Montana timberlands

Weyerhaeuser (NYSE:WY)
Historical Stock Chart

1 Month : From Mar 2020 to Mar 2020

Click Here for more Weyerhaeuser Charts.

SEATTLE, March 26, 2020 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today announced the completion of the sale of its 630,000 acres of Montana timberlands to Southern Pine Plantations for approximately $145 million in cash. The company anticipates it will incur minimal tax liability in conjunction with the sale.

Weyerhaeuser Company logo. (PRNewsFoto/Weyerhaeuser Company)

"The sale of our Montana timberlands is part of our ongoing effort to strategically optimize our timberland portfolio," said Devin W. Stockfish, president and chief executive officer of Weyerhaeuser. "I want to thank the employees of the Montana timberlands team for continuing to operate safely throughout this process, and for their contributions to Weyerhaeuser over the years."

The transaction was announced in December 2019, and the company's three manufacturing facilities in Montana are not affected by this sale. "We're proud to continue supporting Montana communities through our mills and other local operations," said Stockfish.

ABOUT WEYERHAEUSER
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands 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 products in America. Our company is a real estate investment trust. In 2019, we generated $6.6 billion in net sales and employed approximately 9,400 people who serve customers worldwide. We are listed on the Dow Jones Sustainability North America Index. Our common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com.

For more information contact:
Analysts – Beth Baum, 206-539-3907
Media – Nancy Thompson, 919-861-0342

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/weyerhaeuser-completes-sale-of-montana-timberlands-301030704.html

SOURCE Weyerhaeuser Company

Copyright 2020 PR Newswire

Latest WY Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


$
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.