The $2.2 billion deal with International Paper completes Weyerhaeuser’s divestiture of its Cellulose Fibers business.
Weyerhaeuser said it completed the sale of its Cellulose Fibers pulp mills to International Paper.
The $2.2 billion cash deal was announced in May. Seattle-based Weyerhaeuser said it would use the $1.6 billion after-tax proceeds to repay debt.
The sale includes five pulp mills in Mississippi, Georgia, North Carolina and Alberta, as well as two modified fiber mills in Mississippi and Poland.
The deal completes Weyerhaeuser’s divestiture of its Cellulose Fibers business.
Most Read Stories
- UW Huskies awarded No. 4 seed for College Football Playoff, to play No. 1 Alabama in Peach Bowl
- Once extinct in Washington, fishers return to Mount Rainier
- Seahawks’ Earl Thomas hints at retirement on Twitter after breaking bone in leg vs. Panthers
- Fancy a weekend jaunt? Seattle, Portland booms put I-5 drivers in a jam | FYI Guy
- Three rounds of lowland snow possible, starting Sunday night