Carter Holt Harvey (CHH) is to buy Weyerhaeuser’s Australian business.

The deal will include selling and distribution operation Pine Solutions Australia, Weyerhaeuser Australia, two sawmills and an associated operation, plus Green Triangle Forest Products, which comprises a sawmill and pine mouldings site, a further sawmill and a woodchip export business.

“The Australian businesses will continue to focus on meeting customer needs during the sale process and will work with the potential buyer to ensure a smooth transition,” said Craig Neeser, Weyerhaeuser senior vice-president, International Group.

The transaction is subject to regulatory approvals by the Australian Competition and Consumer Commission and the Foreign Investment Review Board.