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Fraser sells timberlands

Fraser Paper is also selling some of its assets, in this case in terms of its timberlands. For $80.5 million, the c…

Fraser Paper is also selling some of its assets, in this case in terms of its timberlands. For $80.5 million, the company is selling 240,000 acres it owns in Maine, to Heartland Forestland Fund V Limited Partnership. A pre-tax gain of $45 million will also be factored into the sale.

The deal is expected to close during the second quarter of 2005, at which time Fraser Papers and Forestland will enter a 20-year fibre supply agreement. Fraser will continue to receive the same volumes of fibre it always has from the timberlands.