In June, the timberland giant (WY) announced it will deaccession more than 300,000 acres of forests in Uruguay and sell them to an investment group led by a Brazilian financial firm for just over $400 million. The holdings represent the company’s last timber tracts outside of North America. Also included in the sale are a plywood and veneer manufacturing facility, a cogeneration facility, and a seedling nursery, all of which are located in Uruguay. “Our Uruguay business is a unique combination of high-quality timberlands, value-added manufacturing operations, and skilled and dedicated people, and this transaction will best position the business to reach its full potential,” said Weyerhaeuser CEO Doyle Simons. Closer to home, the Seattle-based real estate investment trust owns or controls more than 13 million acres in the US and manages additional forests in Canada under long-term licenses.
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