In connection with its ongoing strategic review, Weyerhaeuser Company (NYSE: WY), one of the world’s largest integrated forest products companies, today announced that it has sold 100 percent of its shares in its French composite panels businesses to Financiera Maderera S.A. (FINSA), the largest producer of medium density fiberboard and particleboard in Spain.
Both companies expect to close the sale by the end of the fourth quarter. Weyerhaeuser will continue to serve existing customers until the sale closes. Terms of the agreement were not disclosed.
Weyerhaeuser said the facilities are a better strategic fit for FINSA.
Weyerhaeuser Company (NYSE: WY), one of the world's largest integrated forest products companies, was incorporated in 1900. In 2004, sales were $22.7 billion. It has offices or operations in 19 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.

www.weyerhaeuser.com