Weyerhaeuser to acquire Alabama timberlands
March 1, 2021 | 9:44 am CST
weyerhaueser1.jpg

SEATTLE -- Weyerhaeuser Company announced an agreement to purchase 69,200 acres of Alabama timberlands from Soterra, a subsidiary of Greif, Inc., for approximately $149 million. The acquisition is comprised of productive timberlands situated in southwest Alabama, approximately 100 miles north of Mobile.

Key attributes include a strategic location in one of the strongest inland sawlog and fiber markets in the U.S. South, with a deep and expanding base of customers and future export opportunities

The site also has significant all-weather logging access and well-developed road network, and a well-stocked timber inventory, including 76-percent plantation acreage with average age of 14 years, and an opportunity for increased productivity over time.

"This transaction is a great opportunity to enhance our portfolio by acquiring high-quality, well-managed timberlands with low operating risk," said Devin W. Stockfish, president and chief executive officer. "These timberlands are located in favorable markets and well-integrated with our existing supply chain, and we have strong relationships with a diverse and reliable set of customers in the area. We expect these timberlands to drive long-term value for our company."

Weyerhaeuser owns or manages nearly 600,000 acres and also operates two mills and a nursery in Alabama. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2021. See https://www.weyerhaeuser.com/

Have something to say? Share your thoughts with us in the comments below.

Profile picture for user karlforth
About the author
Karl Forth

Karl D. Forth is online editor for CCI Media. He also writes news and feature stories in FDMC Magazine, in addition to newsletters and custom publishing projects. He is also involved in event organization, and compiles the annual FDM 300 list of industry leaders. He can be reached at karl.forth@woodworkingnetwork.com.