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Weyerhaeuser explores sale of Uruguay timber business

Oct 12 Real estate investment trust Weyerhaeuser Co said it was exploring strategic alternatives, including a possible sale, for its timberlands and manufacturing operations in Uruguay.

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 earlier this month it would sell its North Pacific paper unit to private company One Rock Capital Partners LLC.

The Uruguay operations include over 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 on Wednesday. (Reporting by Anet Josline Pinto in Bengaluru; Editing by Sriraj Kalluvila)

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