Weyerhaeuser Completed Sale of Washington Timberlands to Hampton Lumber

SEATTLE (Scrap Monster): Weyerhaeuser Company announced completion of sale of 145,000 acres of timberlands in the North Cascades region of Washington to Portland-based Hampton Lumber for a sum of $266 million. The company does not anticipate any tax liability in connection with the sale. The transaction was initially announced in April this year.

According to Hampton Lumber, the transaction reflects the company’s long term commitment to operating in the area. Apart from bringing stability to its operations in the area, it will also have positive impacts on city’s economic growth. The purchase will enhance supply to Hampton’s Darrington sawmill, said the company press release. The purchase reflects the company’s ongoing commitment to wood manufacturing in Washington, noted Steve Zika, CEO, Hamption Lumber.

Darrington Mayor Dan Rankim said that the timberland purchase would not result in any changes in mill operations in the near term. It will not lead to expansion of the mill or addition of new job positions, he noted.

The purchased timberlands are in Whatcom, Skagit, Snohomish, King, Chelan and Kittitas counties.

YOU MAY ALSO BE INTERESTED IN:

Weyerhaeuser Announced Significant Capital Investment in Holden Sawmill

Weyerhaeuser Ranked as the Topmost U.S. Lumber Producer