Real estate investment trust Weyerhaeuser Co. said on Wednesday it was exploring strategic alternatives, including a possible sale, for its timberlands and manufacturing operations in Uruguay.
The Uruguay operations include more than 300,000 acres of timberlands in northeastern and north central Uruguay, a plywood and veneer manufacturing facility, a cogeneration facility and a seedling nursery, the company said.
“This is a strategic revision with various possibilities: one is a sale but another is maintaining operations just as they are today,” the company’s South America Director Alvaro Molinari told Reuters.
Weyerhaeuser has been restructuring its business since it bought Plum Creek Timber Co. Inc in February, combining the two largest owners of timberland in the United States. Since then, Weyerhaeuser has said it would sell its pulp business to International Paper Co. for $2.2 billion and its liquid packaging unit to Nippon Paper Industries Co. Ltd for about $285 million.
Weyerhaeuser said this month it would sell its North Pacific paper unit to private company One Rock Capital Partners LLC.
From Reuters: https://www.reuters.com/article/weyerhaeuser-divestiture-idUSL4N1CI4DI