Weyerhaeuser Completes Acquisition of Timberlands in North and South Carolina
SEATTLE, May 19, 2022 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today announced the completion of its acquisition of 80,800 acres of high-quality timberlands in North and South Carolina from a fund managed by Campbell Global for approximately $265 million. The transaction was announced in April 2022.
With this acquisition, Weyerhaeuser now owns or manages more than 900,000 acres of timberlands in the Carolinas, and the company also operates four mills, a distribution center and tree nursery, and hosts multiple mitigation banks and real estate development projects — employing more than 700 people between the two states.
ABOUT WEYERHAEUSER
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 2021, we generated $10.2 billion in net sales and employed approximately 9,200 people who serve customers worldwide. Our common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com.
For more information contact:
Analysts – Andy Taylor, 206-539-3907
Media – Nancy Thompson, 919-861-0342
SOURCE Weyerhaeuser Company
Weyerhaeuser Co.
Symbol: WY
CIK: 106535
Exchange: NYSE
Founded: 1900 (124 years)
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Large-Cap
REIT Sector: Timber
REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score.
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Last updated: 2024-11-21 - v1.3