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Weyerhaeuser closes Brascan sale

Weyerhaeuser has completed the sale of its BC Coastal Group assets to Brascan Corporation, and plans to use the app…

Weyerhaeuser has completed the sale of its BC Coastal Group assets to Brascan Corporation, and plans to use the approximate $1.4 billion in proceeds to pay down its debt. Included in the transaction are 285,000 hectares of private timberlands and the annual harvesting rights to 3.6 million cubic metres of public land timber. Five softwood sawmills with a combined annual production of 690 million board feet and two remanufacturing facilities were also included.