Weyerhaeuser Concluded Sale of Princeton Lumber Mill
Rubber and Wood | 2025-09-03 11:29:27
The company had operated the Princeton mill during the transition phase.
By Paul Ploumis
SEATTLE (Scrap Monster): Weyerhaeuser Company announced that it has completed the sale of its lumber mill in Princeton, British Columbia, to the Gorman Group. The transaction was initially announced in the month of May this year.
The company's related British Columbia timber licenses are part of the deal and will be transferred separately, according to the news release. It is anticipated that this transfer will be finalised in the upcoming months, contingent upon usual closing conditions and required regulatory clearances.
The sale of the timber facility has brought in about $60 million for the corporation. Once the associated timber licenses have been transferred, the remaining revenues will be collected. The asset's sale resulted in a benefit for Weherhaeuser Company.
The transaction had no effect on the company's other activities. The Princeton mill had been run by the firm during the period of transition.
In Canada, Weyerhaeuser and Gorman Group have a long history together. The Gorman Group is anticipated to be a perfect match for Weyerhaeuser's Princeton plant. In addition to positioning the mill for future success in a demanding operating environment, the acquisition will promote the sustainability of decent jobs in communities.
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