Weyerhaeuser closes Longview Timber deal
Weyerhaeuser Company has completed its acquisition of Longview Timber LLC. The deal includes approximately 645,000 acres of timberlands in Washington and Oregon.
"This acquisition is a truly unique opportunity for us to grow our high-value timberlands assets west of the Cascade Mountains," said Dan Fulton, president and CEO of Weyerhaeuser. "This region provides excellent soil and climate conditions for growing Douglas fir, which is a preferred species for many of our customers. We intend to leverage our silviculture, infrastructure, logistics and marketing expertise to realize the full potential of these lands, which are highly complementary to our existing ownership in the area."
The acquisition of Longview, which previously belonged to affiliates of Brookfield Asset Management, increases Weyerhaeuser's presence in the Pacific Northwest timberlands by 33% to total about 2.6 million acres.