Weyerhaeuser sells Canadian plants

Weyerhaeuser has sold five sawmills and two finishing plants from its British Columbia operations to Toronto-based Brascan Corporation for $970 million.

The deal, which has been in negotiations for several months and is expected to close in the second quarter of this year, will also include 635,000 acres of private timberlands and annual harvesting rights to 3.6 million cubic meters of public land timber.