FEDERAL WAY, Wash., December 7, 2009 — Weyerhaeuser Company (NYSE: WY) today announced it has signed a Purchase & Sale Agreement for its Warrenton lumber mill with Hampton Affiliates. Terms of the sale were not disclosed. The transaction includes the mill and its land.
The agreement marks the first step towards the successful sale of the Warrenton lumber mill. Both parties are committed to completing the sales process as quickly as possible, with an expected transaction closing date in January.
“The people of the Warrenton mill have invested much hard work over the years and their focus, dedication and professionalism have strengthened the operations,” said Rob Taylor VP, iLevel Softwood Lumber Technologies. "The sale provides the mill with a new owner that has the focus and interest in manufacturing lumber in Warrenton,” he said.
Weyerhaeuser Company, one of the world's largest forest products companies, was incorporated in 1900. In 2008, sales were $8 billion. It has offices or operations in 10 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution and sale of forest products; and real estate construction and development. Additional information about Weyerhaeuser's businesses, products and practices is available at http://www.weyerhaeuser.com.
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