FEDERAL WAY, Wash. – Weyerhaeuser Company announced the completion of its acquisition of Longview Timber LLC from affiliates of Brookfield Asset Management.
The acquisition includes approximately 645,000 acres of high-quality timberlands in Washington and Oregon, which expand Weyerhaeuser’s timber holdings in the Pacific Northwest by 33 percent to approximately 2.6 million acres. The transaction increases the total amount of U.S. timberlands Weyerhaeuser owns or controls to approximately 6.6 million acres.
"This acquisition is a truly unique opportunity for us to grow our high-value timberlands assets west of the Cascade Mountains," said Dan Fulton, president and CEO. "This region provides excellent soil and climate conditions for growing Douglas fir, which is a preferred species for many of our customers. We intend to leverage our silviculture, infrastructure, logistics and marketing expertise to realize the full potential of these lands, which are highly complementary to our existing ownership in the area."