Weyerhaeuser Completes Oregon Timberland Transactions

Rhea-AI Summary

Weyerhaeuser Company (NYSE: WY) has completed two significant timberland transactions in Oregon. The company purchased 85,000 acres and sold 149,000 acres, with a net cost of approximately $40 million. This strategic move is aimed at enhancing Weyerhaeuser's portfolio and streamlining operational costs while gaining access to crucial domestic and export markets. CEO Devin W. Stockfish emphasized the importance of Oregon in their operations and the long-term value these transactions are expected to bring to shareholders.

Positive

• Acquisition of 85,000 acres of productive timberland enhances portfolio.
• Streamlining operational costs through the sale of 149,000 acres.
• Access to key domestic and export markets strengthened.

Negative

• None.

SEATTLE, Nov. 20, 2020 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today announced the completion of two separate transactions in which it purchased timberlands from and sold timberlands to funds managed by Hancock Natural Resource Group, a Manulife Investment Management company.

The company purchased 85,000 acres of timberlands in mid-coastal Oregon in one transaction and sold 149,000 acres in southern Oregon in a separate transaction, for a net cost of approximately $40 million in cash. The company expects no tax liability in conjunction with the sale.

"Oregon is an incredibly important operating region for us, and we're always looking for opportunities to enhance our portfolio," said Devin W. Stockfish, president and chief executive officer. "Through these transactions, we're gaining highly productive timberland, streamlining operating costs and access to key domestic and export markets, and strengthening our ability to deliver immediate and long-term value for our shareholders."

The transactions were announced in September 2020.

ABOUT WEYERHAEUSER
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards. We are also one of the largest manufacturers of wood products in America. Our company is a real estate investment trust. In 2019, we generated $6.6 billion in net sales and employed approximately 9,400 people who serve customers worldwide. We are listed on the Dow Jones Sustainability North America Index. Our common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com. 

For more information contact:
Analysts – Beth Baum, 206-539-3907
Media – Nancy Thompson, 919-861-0342

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SOURCE Weyerhaeuser Company

FAQ

What timberland transactions did Weyerhaeuser complete on November 20, 2020?

Weyerhaeuser announced it purchased 85,000 acres and sold 149,000 acres of timberland in Oregon for a net cost of approximately $40 million.

How much did Weyerhaeuser pay for its recent timberland acquisition?

Weyerhaeuser's net cost for the timberland transactions was approximately $40 million.

What location is significant for Weyerhaeuser's operations as of November 2020?

Oregon is highlighted as an incredibly important operating region for Weyerhaeuser.

What is the stock symbol for Weyerhaeuser Company?

Weyerhaeuser Company trades on the New York Stock Exchange under the symbol WY.