Chart News Room

Print News Release

Weyerhaeuser Closes Sale of 270,000 Acres in Georgia

PRNewswire-FirstCall
FEDERAL WAY, Wash.
Sep 2, 2004

Weyerhaeuser Company (NYSE: WY) closed the sale of approximately 270,000 acres of timberlands in Georgia to four companies, officials announced today. The sale includes all Weyerhaeuser's owned commercial timberlands in Georgia. Weyerhaeuser will continue to manage a long-term timberland lease covering approximately 34,000 acres.

  (Logo:  http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-a
          http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-b )

Terms of the individual agreements were not disclosed, but Weyerhaeuser said the sales totaled approximately $400 million. The company will use proceeds from the sales primarily for debt repayment.

The company now owns or manages approximately 6.5 million acres of timberland in the United States. Weyerhaeuser, one of the world's largest owners of merchantable softwood timber, added 1.7 million acres to its portfolio with the Willamette acquisition in 2002.

The purchasers of the timberland are Virginia Forest Investment LLC from Hogansville and Macon, Georgia; Georgia Fall Line Properties LLC from Greensboro, Georgia; Oaky Woods Properties LLC from Perry, Georgia; and Copper Station Holdings #3 from Beaufort, South Carolina. Weyerhaeuser will continue operating its nine facilities in Georgia.

Weyerhaeuser Company, one of the world's largest integrated forest products companies, was incorporated in 1900. In 2003, sales were $19.9 billion. It has offices or operations in 18 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution and sale of forest products; and real estate construction, development and related activities. Additional information about Weyerhaeuser's businesses, products and practices is available at http://www.weyerhaeuser.com/ .

  For more information contact:
   Weyerhaeuser Media - Frank Mendizabal 253-924-3357
    Kathy Stacey 580-981-1431
   Weyerhaeuser Analysts - Kathy McAuley 253-924-2058
   Virginia Forest Investments LLC:  Hogansville:  706-637-6170
    Macon:  478-477-1000
   Georgia Fall Line Properties LLC:  478-862-4838
   Oaky Woods Properties LLC:  478-987-3717
   Copper Station Holdings #3 LLC:  843-522-9180
Photo: http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-a
http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-b
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com

SOURCE: Weyerhaeuser Company

CONTACT: media, Frank Mendizabal, +1-253-924-3357, or Kathy Stacey,
+1-580-981-1431, or investors, Kathy McAuley +1-253-924-2058, both of
Weyerhaeuser; or Virginia Forest Investments LLC, in Hogansville,
+1-706-637-6170, or in Macon, +1-478-477-1000; or Georgia Fall Line Properties
LLC, +1-478-862-4838; or Oaky Woods Properties LLC, +1-478-987-3717; or Copper
Station Holdings #3 LLC, +1-843-522-9180

Web site: http://www.weyerhaeuser.com/

Top
Welcome to Weyerhaeuser's new website!

You appear to be using an older browser. This website is best viewed using the latest versions of Internet Explorer, Chrome, Safari, and Firefox. If you proceed without upgrading or switching browsers, you may not experience optimal navigation or page functionality. Thank you for your interest in Weyerhaeuser and we hope you enjoy your visit.

Update my browser now

×