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HARDWOODS: WEYERHAEUSER BUYS COAST MOUNTAIN

VANCOUVER, BC — Weyerhaeuser Company Ltd. has inked a deal to buy Coast Mountain Hardwoods, a subsidiary of BC-based Advent International Corp. In the transaction, Weyerhaeuser gains a hardwood lumbe…

VANCOUVER, BC — Weyerhaeuser Company Ltd. has inked a deal to buy Coast Mountain Hardwoods, a subsidiary of BC-based Advent International Corp. In the transaction, Weyerhaeuser gains a hardwood lumber mill with an annual capacity of 42 million board feet, dry kilns with an annual capacity of 20 million board feet, and five volume-based forest licenses dispersed in the Vancouver area. William Gaynor, company president, said that the acquisition’s chief aim is to take advantage of the current demand for hardwood-made products. “The Coast Mountain assets provide excellent operating efficiencies and enable us to utilize hardwood fibre in a value-added way. In addition, this purchase allows us to build on the solid long-term success of our Canadian operations.” Financial terms of the deal were not disclosed.

In other news, Weyerhaeuser’s Grand Prairie/Grande Cache Forestlands division in Alberta has been approved to ISO 14001 Environmental Management System (EMS). The Alberta division manages 1.35 million hectares (3.34 million acres) of provincial forests. The company plans to incorporate the benchmark Canadian Standards Association’s Sustainable Forest Management system into its EMS by 2003.