Posted 六月 16, 2016
Weyerhaeuser Company announced an agreement to sell its liquid packaging board business to Nippon Paper Industries Co., Ltd. for $285 million in cash. Weyerhaeuser expects to use a substantial portion of the estimated $225 million after-tax proceeds for repayment of debt. The transaction includes one mill located in Longview, Wash., with an annual capacity of 280,000 tons.
"This transaction creates significant value for Weyerhaeuser shareholders and enhances the focus of our portfolio as we work to be the world's premier timber, land, and forest products company," said Doyle R. Simons, president and CEO.
The transaction is subject to customary closing conditions, including regulatory review, and is expected to close in the 3Q 2016. The Weyerhaeuser liquid packaging board mill and Nippon Paper Industries will continue to operate separately until the transaction closes.
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900.