Retail Industry
Industry: Email Alert RSS FeedWeyerhaeuser to acquire MacMillan Bloedel with stock transaction.(Brief Article)
Do-It-Yourself Retailing, August, 1999
Two of North America's largest forest products companies have joined forces. Weyerhaeuser Co. of Federal Way, Wash., the world's largest producer of softwood lumber and market pulp, has reached an agreement to acquire MacMillan Bluedel Ltd., Vancouver, in a $2.45 billion stock transaction announced in June.
If the deal is completed, Weyerhaeuser will become the largest North American manufacturer of forest products and expects annual sales to reach $13.3 billion with the acquisition of MacMillan, which recorded sales of $4.2 billion and a net profit of $42 million in 1998.
The agreement also makes Weyerhaeuser one of the top three producers of packaging solutions. The company adds MB's 31 North American distribution centers, six lumber mills, three...
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