Weyerhaeuser to sell Canadian units

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19 February 2007 — Federal Way (WA): Weyerhaeuser is to sell all of its Canadian and some of its US building materials distribution centres.

The company is in final negotiations for its Canadian wholesale building products distribution centres with Platinum Equity, a Los Angeles-based private equity firm.

 

Weyerhaeuser is also in preliminary negotiations with a buyer for ten US building distribution sites.

 

Lee Alford, senior VP of residential wood products, said: "The sale of these distribution centres is part of our ongoing effort to sharpen the focus of our portfolio and enhance shareholder value. Weyerhaeuser is committed to being the undisputed leader in structural frame markets and will continue to invest in innovative products, new building systems, software solutions and in-market distribution services."