29 October 2004 – Federal Way (WA): Weyerhaeuser has acquired a two-thirds ownership in Brazilian company Aracruz Productos de Madeira (APM), a subsidiary of Aracruz Cellulose, for an undisclosed sum.
APM operates a hardwood saw mill in the Bahia region of the northeast of Brazil. The joint venture will produce a eucalyptus-derived Lyptus lumber, which will be used to make furniture, flooring, cabinetry and other appearance applications.
Chairman and president/CEO Steven Rogel said: "Our experience in Australia, New Zealand and Uruguay has shown that the southern hemisphere contains ideal operating environments for us. Expanding into Brazil builds on this experience and enhances our ability to serve global customers and to meet the growing needs of the southern hemisphere."