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NOTE 23: ACQUISITIONS Our acquisitions over the last three years were: • PSA Composites LLC; and • Maracay Homes Arizona I, LLC. The effect of these acquisitions did not significantly affect our results of operations. PSA COMPOSITES LLC In October 2006, Weyerhaeuser purchased PSA Composites LLC, a company that has developed technology for extrusion and pulltrusion of oriented polymer composites, for $20 million. MARACAY ACQUISITION In February 2006, WRECO acquired Maracay Homes Arizona I, LLC (Maracay), a privately-held homebuilder located in Phoenix, Arizona. In 2006, WRECO paid $213 million, including transaction- related costs, and assumed debt from Maracay in connection with the acquisition. In 2007, WRECO paid $40 million in accordance with deferred purchase price terms of the contract. The terms of the agreement also provide for contingent consideration to be paid to the management sellers of the operation if certain operating and financial return metrics are achieved. Based on performance through 2007, no contingent consideration is due to the sellers. |