Weyerhaeuser Completes Sale of 145,000 Acres of Timberlands in Washington's North Cascades
SEATTLE, July 8, 2021 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today announced the completion of the sale of 145,000 acres of timberlands in the North Cascades region of Washington to Hampton Resources for $266 million. The transaction was announced in April 2021, and the company anticipates no tax liability in conjunction with the sale.
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards. We are also one of the largest manufacturers of wood products in America. Our company is a real estate investment trust. In 2020, we generated $7.5 billion in net sales and employed approximately 9,400 people who serve customers worldwide. We are listed on the Dow Jones Sustainability North America Index. Our common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com.
This news release contains statements that are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the company's expectations concerning the tax implications related to the disposition of certain of its Washington timberlands. These statements are based on current expectations and involve and are subject to assumptions, risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. The company undertakes no obligation to update any of these forward-looking statements after the date of this news release.
For more information contact:
Analysts – Beth Baum, 206-539-3907
Media – Nancy Thompson, 919-861-0342
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SOURCE Weyerhaeuser Company