Weyerhaeuser Company announced the completion of its acquisition of 69,200 acres of high-quality Alabama timberlands from Soterra, a subsidiary of Greif, Inc., for approximately $149 million earlier this week.
"Our Alabama acquisition will grow our near-term and long-term cash flow," said Devin W. Stockfish, President and CEO. "This transaction exemplify our ongoing effort to strategically optimize and upgrade our timberland portfolio."
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. The company owns or controls approximately 11 million acres of timberlands in the U.S. and manages additional timberlands under long-term licenses in Canada.