Weyerhaeuser sells Canadian ops

21 February 2005 – Federal Way (WA): Weyerhaeuser has sold off five sawmills and two finishing plants from its British Colombia operations to Toronto-based Brascan Corporation for about $970 million.

The deal, which has been in negotiations for several months, also includes 635,000 acres of private timberlands and annual harvesting rights to 36 million cubic meters of public land timber.

The deal is expected to close in the second quarter.