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Weyerhaeuser completes sale of Uruguay timberlands and manufacturing business
September 4, 2017 By P&PC Staff
Sep. 3, 2017 – Weyerhaeuser Company has completed the sale of its timberlands and manufacturing business in Uruguay to a consortium led by BTG Pactual’s Timberland Investment Group (TIG) for $402.5 million in cash.
The transaction includes over 300,000 acres of timberlands in northeastern and north central Uruguay, as well as a plywood and veneer manufacturing facility, a cogeneration facility, and a seedling nursery.
“The TIG consortium is acquiring a unique combination of high-quality timber and manufacturing assets and gaining an exceptional team of highly-skilled employees,” said Doyle R. Simons, Weyerhaeuser president and CEO. “I want to thank the employees of the Uruguay team for continuing to operate safely throughout the strategic review process and for their contributions to Weyerhaeuser over the years.”
Weyerhaeuser Company describes itself as one of the world’s largest private owners of timberlands. It owns or controls nearly 13 million acres of timberlands in the U.S. and manages additional timberlands under long-term licenses in Canada.
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