Weyerhaeuser Completes Sale of Princeton, B.C., Lumber Mill to Gorman Group

Core Viewpoint - Weyerhaeuser Company has completed the sale of its lumber mill in Princeton, British Columbia, to the Gorman Group, which includes associated timber licenses that will transfer separately in the coming months [1][2]. Company Overview - Weyerhaeuser Company is one of the largest private owners of timberlands, controlling approximately 10.4 million acres in the U.S. and additional public timberlands in Canada [3]. - The company generated $7.1 billion in net sales in 2024 and employs around 9,400 people globally [3]. - Weyerhaeuser operates as a real estate investment trust and is listed on the New York Stock Exchange under the symbol WY [3]. Transaction Details - Weyerhaeuser received approximately $60 million USD from the sale of the lumber facility, with additional proceeds expected from the timber license transfer [2]. - The company recognized a gain on the sale and anticipates a tax liability of about $11 million USD related to the transaction [2]. Gorman Group Overview - The Gorman Group is a family-owned company with operations in Southern British Columbia and northern Washington state, employing 900 people [4]. - Founded in 1951, the Gorman Group focuses on high-value lumber products for home finishing and renovation markets [4].