Weyerhaeuser takes down for sale sign
January 4, 2009 By Pulp & Paper Canada
It’s going, going…it’s no longer for sale. Weyerhaeuser has pulled its shipping line from the ma…
It’s going, going…it’s no longer for sale. Weyerhaeuser has pulled its shipping line from the market, saying it no longer wishes to sell.
Citing weaker shipping markets and tight financing conditions for possible buyers, the Portland Business Journal reported the company took its wholly owned Westwood Shipping Line off the market.
“We did not feel that the current market conditions would allow us to recognize a reasonable value for our assets and operations,” the Journal reported Guy Stephenson, president of the shipping line as saying.
Company officials say they remain interested in selling their four regional railroads, however.
The shipping line serves four ports; three in Asia and one in North America.
Print this page