Weyerhaeuser Co. has completed its acquisition of Longview Timber LLC from affiliates of Brookfield Asset Management. The acquisition includes approximately 645,000 acres of high-quality timberlands in Washington and Oregon, which expand Weyerhaeuser’s timber holdings in the Pacific Northwest by 33 percent to approximately 2.6 million acres. The transaction increases the total amount of U.S. timberlands Weyerhaeuser owns or controls to approximately 6.6 million acres.
“This acquisition is a truly unique opportunity for us to grow our high-value timberlands assets west of the Cascade Mountains,” says Dan Fulton, president and CEO. “This region provides excellent soil and climate conditions for growing Douglas fir, which is a preferred species for many of our customers. We intend to leverage our silviculture, infrastructure, logistics and marketing expertise to realize the full potential of these lands, which are highly complementary to our existing ownership in the area.”
Weyerhaeuser, one of the world’s largest private owners of timberlands, began operations in 1900. The firm owns or controls approximately 6.6 million acres of timberlands, primarily in the U.S., and manages another 14 million acres under long-term licenses in Canada. It manages these timberlands on a sustainable basis in compliance with internationally recognized forestry standards. Weyerhaeuser is also one of the largest manufacturers of wood and cellulose fibers products, and it develops real estate, primarily as a builder of single-family homes. The company is a real estate investment trust. In 2012, the firm generated $7.1 billion in sales and employed approximately 13,200 people who serve customers worldwide.