Weyerhaeuser sells containerboard, packaging and recycling
Weyerhaeuser Company announced the sale of its containerboard,
packaging and recycling business to International Paper for $6 billion
in cash, subject to post closing adjustments. Weyerhaeuser said it expects
to use a substantial portion of the proceeds from the sale to pay down
The transaction includes nine containerboard mills,
72 packaging locations, 10 specialty-packaging plants, four kraft bag
and sack locations and 19 recycling facilities. The transaction affects
approximately 14,300 employees.
The 19 recycling facility locations included in the
sale are as follows: Phoenix, Arizona; Fremont, Los Angeles/Norwalk,
West Sacramento, California; Denver, Colorado; Chicago, Illinois; Des
Moines, Iowa; Wichita, Kansas; Baltimore, Maryland; New Brighton, Minnesota;
Omaha, Nebraska; Charlotte, North Carolina; Beaverton, Eugene, Oregon;
Memphis, Tennessee; Carrollton, Texas, Salt Lake City, Utah; Richmond,
Virginia; and Kent, Washington.