8 August 2007 — Vancouver (CAN): Weyerhaeuser has agreed to sell its Kamloops sawmill and associated timber harvesting rights to International Forest Products.
Weyerhaeuser president Craig Neeser said: "This decision was taken after a thorough review of our strategic goals. The announcement reflects decades of solid work and attention to safety on the part of our employees that made this an attractive operation."
This agreement-in-principle is subject to approval by the company’s board of directors and required regulatory approvals. The transaction is expected to occur by Q4. Financial terms of the sale have not been disclosed.