Plum Creek Timber Company is buying 139,000 acres of forestlands in Arkansas, New Hampshire and South Carolina for US$162m.

The company expects to take ownership of the Arkansas (38,000 acres) and New Hampshire forests (33,000 acres) in the third quarter, followed by the South Carolina land (68,000 acres) during the fourth quarter.

The New Hampshire forests contain both softwood and mixed hardwood stands, while the southern forestlands are mainly mature loblolly pine plantations.