Date: Thursday February 16, 2006 10:24:00 am
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Weyerhaeuser to sell forestland and sawmill
February 2006 – Wellington: Weyerhaeuser has said that one of its joint ventures will sell 67,000 hectares (166,000 acres) of forests and a sawmill in New Zealand.
Jointly owned by a subsidiary of Weyerhaeuser and RII New Zealand Forests I, a timber investment fund, the assets are situated in the Nelson/Marlborough regions at the top of the South Island.
Weyerhaeuser recently reported a Q4 net loss on substantial charges for closing some of its paper and timber facilities.
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