Weyerhaeuser Announces Prospective Buyer For Its Cosmopolis Pulp Mill

Federal Way, WA - Weyerhaeuser Company recently announced that it intends to enter into preliminary/formal purchase discussions with Charleston Investments to sell the Cosmopolis Pulp Mill, located near Aberdeen, WA.

The Charleston Investments proposal offered the greatest value to Weyerhaeuser and the most viable long-term investment for the community. There is no timeline for completing the discussion.

In separate news, the company also announced its intent to sell a veneer manufacturing operation in Elma, Washington –– effective immediately.

"Weyerhaeuser made the difficult decision to put the plant up for sale after a strategic review of the company's veneer business," Slater said.

The company plans to continue its current operating posture while seeking a buyer for the mill. The affected associates will keep their positions while the company seeks a new owner.

"This is an exceptional workforce," Slater said. "Our associates work diligently to make this mill productive and safe."

Weyerhaeuser employs approximately 7,400 people in Washington in a variety of businesses and manages about approximately 1.1 million acres of timberland.

SOURCE: Weyerhaeuser Company