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October 13, 2016

Weyerhaeuser exploring possible sale of Uruguay business

Weyerhaeuser exploring possible sale of Uruguay business

Weyerhaeuser said it is exploring strategic alternatives, including a possible sale, for its timberlands and manufacturing operations in Uruguay.

Weyerhaeuser has been restructuring its business since it bought Plum Creek Timber Co Inc PCL.N in February, combining the two largest owners of timberland in the United States.

Since then, Weyerhaeuser has said it would sell its pulp business to International Paper Co (IP.N) for $2.2 billion and its liquid packaging unit to Nippon Paper Industries Co Ltd (3863.T) for about $285 million.

Weyerhaeuser said earlier this month it would sell its North Pacific paper unit to private company One Rock Capital Partners LLC.

Weyerhaeuser established its operations in Uruguay in 1997. Today, the Uruguay operations include over 300,000 acres of timberlands in northeastern and north central Uruguay, a plywood and veneer manufacturing facility, a cogeneration facility and a seedling nursery, the company said on Wednesday.

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