The following is from a WEYCO news release on WEYCO's website:
Weyerhaeuser, Global Forest Partners Complete Sale of New Zealand Assets:
"FEDERAL WAY, Wash., Oct. 31 /PRNewswire-FirstCall/ -- Weyerhaeuser Company (NYSE: WY) and Global Forest Partners today announced the completion of the sale and transfer of assets from their former joint venture to GFP sole ownership after receiving the necessary government approvals."
"Under the agreement, GFP investment funds will acquire Weyerhaeuser New Zealand, Inc., and Weyerhaeuser's interest in the Nelson JV assets. These assets include approximately 67,000 productive hectares of plantation forests in the Nelson/Marlborough region and the Kaituna sawmill at Renwick, which has a log input capacity on a single shift of 80,000 cubic meters annually."
"Terms of the agreement were not disclosed."
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The following copyrighted news article is supplied with permission and the courtesy of Forestweb. You can visit their site at www.forestweb.com.
Sierra Pacific acquires 140,000 acres of Washington timberland from The Campbell Group; simultaneously buys/sells off 43,000 Oregon acres to Rosboro
Oct 26, 2007 — Forestweb
By Audrey Dixon
SAN DIEGO, Calif., October 26, 2007 (Forestweb) — Sierra Pacific Industries (SPI) has acquired 140,000 acres of Washington timberlands from The Campbell Group (TCG), plus another 43,000 acres in Oregon that it simultaneously sold off to Rosboro.
Mark Pawlicki, Director of Governmental Affairs for Redding, Calif., based SPI, confirmed earlier this week the company had acquired the Washington land very recently but declined to divulge any more details.
Industry sources told Forestweb it had been a two-part transaction with TCG, and that about 40,000 acres of Oregon timberland had been sold to Springfield, Ore., based Rosboro.
Rosboro's CFO Scott Nelson confirmed Friday afternoon that his company had acquired 43,000 acres in western Oregon from SPI at the same time it completed its transaction with TCG, on September 27.
All news reports are copyrighted by the respective papers.
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