Weyerhaeuser Company has announced that it has reached an agreement-in-principle to sell its Canadian Kamloops sawmill to International Forest Products Ltd.
While the terms of the sale have not been disclosed, the transaction will include the harvesting rights to 700,000m³ of public land timber along with the sawmill itself.
Weyerhaeuser president Craig Neeser has said that the decision was taken after a “review of our strategic goals” and thanked employees at the sawmill for “decades of solid work…that made this an attractive operation”.
Weyerhaeuser has recently undertaken a number of sales and purchases that have been designed to realign its strategic operations, including the sale of its Canadian distribution centres to Platinum Equity and signing an agreement with Global Forest Products to sell Weyerhaeuser New Zealand Inc and take full control of Los Piques plywood mill and associated forests in Uruguay.
