Weyerhaeuser Completes Acquisition of Timberlands in North and South Carolina
Weyerhaeuser Company (NYSE: WY) has successfully acquired 80,800 acres of premium timberlands in North and South Carolina for approximately $265 million.
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Rhea-AI Summary
Weyerhaeuser Company (NYSE: WY) has successfully acquired 80,800 acres of premium timberlands in North and South Carolina for approximately $265 million. This acquisition, which was announced in April 2022, increases Weyerhaeuser's managed timberlands in the Carolinas to over 900,000 acres. The company operates four mills and a tree nursery, employing over 700 people in the region. Weyerhaeuser, a major player in timberland ownership and wood products manufacturing, generated $10.2 billion in net sales in 2021 and continues to focus on sustainable management practices.
Positive
- Acquisition of 80,800 acres of timberlands enhances land portfolio.
- Current ownership now exceeds 900,000 acres in the Carolinas, indicating significant market presence.
- Strengthens operational capacity with four mills and additional facilities.
Negative
- None.
Details
News Market Reaction – WY
The recorded move for WY in the trading session of this news was -0.61%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
SEATTLE, May 19, 2022 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today announced the completion of its acquisition of 80,800 acres of high-quality timberlands in North and South Carolina from a fund managed by Campbell Global for approximately
With this acquisition, Weyerhaeuser now owns or manages more than 900,000 acres of timberlands in the Carolinas, and the company also operates four mills, a distribution center and tree nursery, and hosts multiple mitigation banks and real estate development projects — employing more than 700 people between the two states.
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 2021, we generated
For more information contact:
Analysts – Andy Taylor, 206-539-3907
Media – Nancy Thompson, 919-861-0342
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SOURCE Weyerhaeuser Company
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