Weyerhaeuser Completes Sale of Princeton, B.C., Lumber Mill to Gorman Group

Rhea-AI Summary

Weyerhaeuser (NYSE: WY) has completed the sale of its Princeton, British Columbia lumber mill to the Gorman Group. The transaction, initially announced in May, includes both the mill facility and associated British Columbia timber licenses. The company received $60 million USD for the lumber facility, with additional proceeds expected upon the transfer of timber licenses.

The timber license transfer is pending regulatory review and other customary closing conditions, expected to complete in the coming months. Weyerhaeuser anticipates a tax liability of approximately $11 million USD from the transaction.

Positive

• Received $60 million USD upfront from the sale with additional proceeds pending
• Company will recognize a gain on the sale
• Strategic divestment aligns with portfolio optimization

Negative

• Will incur $11 million USD tax liability from the transaction
• Reduction in lumber production capacity and timber assets

News Market Reaction – WY

-0.28%

1 alert

-0.28% News Effect

On the day this news was published, WY declined 0.28%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

SEATTLE, Sept. 2, 2025 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today announced the completion of the sale of its lumber mill in Princeton, British Columbia, to the Gorman Group. The transaction, which was announced in May, also includes Weyerhaeuser's associated British Columbia timber licenses, which will transfer separately. That transfer is expected to be completed over the coming months and is subject to customary closing conditions, including regulatory review.

Weyerhaeuser received approximately $60 million USD upon the sale of the lumber facility, with the remainder of the transaction proceeds to be received in conjunction with the transfer of the timber licenses. The company recognized a gain on the sale and expects to incur a tax liability of approximately $11 million USD.

ABOUT WEYERHAEUSER
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900 and today owns or controls approximately 10.4 million acres of timberlands in the U.S., as well as additional public timberlands managed under long-term licenses in Canada. Weyerhaeuser has been a global leader in sustainability for more than a century and manages 100 percent of its timberlands on a fully sustainable basis in compliance with internationally recognized sustainable forestry standards. Weyerhaeuser is also one of the largest manufacturers of wood products in North America and operates additional business lines around product distribution, climate solutions, real estate, energy and natural resources, among others. In 2024, the company generated $7.1 billion in net sales and employed approximately 9,400 people who serve customers worldwide. Operated as a real estate investment trust, Weyerhaeuser's common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com.

ABOUT THE GORMAN GROUP
The Gorman Group is a multi-generational family owned and operated company comprised of four divisions in Southern British Columbia (two sawmills, a remanufacturing plant, a plywood plant, and a pole plant) and one remanufacturing plant division in northern Washington state. Within these operations, it directly employs 900 employees. Founded in 1951, the company will soon celebrate 75 years of continuous operations in the wood products business with a brand name that is respected around the world. Its longevity and consistency are largely attributed to its focus on high value lumber products sold in the home finishing and renovation markets, its commitment to the land and generational thinking, as well as to the people, within and without the company, who live in the communities in which it operates.

FORWARD-LOOKING STATEMENTS
This news release contains statements that are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 including, without limitation, with respect to the occurrence and timing of the sale and transfer of certain of the company's timber licenses as well as the company's estimated tax liability related to the sale. Forward-looking statements may be identified by our use of certain words in such statements, including without limitation words such as "expects," "expected," "will" and similar words, terms and phrases using such terms and words. All forward-looking statements speak only as of the date hereof, are based on current expectations and involve and are subject to a number of assumptions, risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to, those identified in our 2024 Annual Report on Form 10-K, as well as those set forth from time to time in our other public statements, reports, registration statements, prospectuses, information statements and other filings with the SEC. In addition, Weyerhaeuser may not be able to complete the timber license transaction within the stated time period, or at all, because of a number of factors, including without limitation: the occurrence of any event, change or other circumstances that could give rise to a termination of the transaction under the terms of the purchase and sale agreement governing the transaction, or the failure to satisfy other closing conditions including, but not limited to, regulatory approvals. There is no guarantee that any of the events anticipated by these forward-looking statements will occur. If any of the events occur, there is no guarantee what effect they will have on the company's business, results of operations, cash flows, financial condition and future prospects. The company undertakes no obligation to update these forward-looking statements after the date of this news release.

For more information contact:
Weyerhaeuser Corporate Headquarters	Gorman Group Corporate Headquarters
• 220 Occidental Avenue South • Seattle, WA 98104	• 3900 Dunfield Rd• West Kelowna, BC V4T 1W4
Analysts – Andy Taylor, 206-539-3907	David Murray - 250-803-8531
Media – Nancy Thompson, 919-861-0342

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SOURCE Weyerhaeuser Company

FAQ

How much did Weyerhaeuser (WY) receive for the Princeton lumber mill sale?

Weyerhaeuser received $60 million USD for the lumber facility, with additional proceeds expected when the timber licenses transfer.

What tax implications does the Princeton mill sale have for Weyerhaeuser?

Weyerhaeuser expects to incur a tax liability of approximately $11 million USD from the sale.

What assets are included in Weyerhaeuser's Princeton mill sale to Gorman Group?

The sale includes the lumber mill in Princeton, British Columbia, and associated British Columbia timber licenses which will transfer separately.

When will the timber license transfer be completed for WY's Princeton mill sale?

The timber license transfer is expected to be completed over the coming months, subject to regulatory review and customary closing conditions.