WEYERHAEUSER COMPANY (NYSE:WY) Files An 8-K Completion of Acquisition or Disposition of Assets
Item 2.01. Completion of Acquisition or Disposition of Assets
|
|
Item 9.01. Financial Statements and Exhibits
|
|
|
|
|
|
Exhibit 99.1
|
|
|
Exhibit 99.2
|
Company) completed a previously announced sale of its cellulose
fibers pulp business (Pulp Business) to International Paper
Company for $2.2 billion in cash consideration, subject to
certain post-closing adjustments including (1) for changes in the
working capital of the Pulp Business from a targeted amount, (2)
for certain third-party indebtedness of the Pulp Business and (3)
for certain specified capital expenditures undertaken prior to
closing of the transaction with respect to the Pulp Business. The
Pulp Business consists of five pulp mills located in Columbus,
Mississippi; Flint River, Georgia; New Bern, North Carolina; Port
Wentworth, Georgia; and Grande Prairie, Alberta, and two modified
fiber mills located in Columbus, Mississippi and Gdansk, Poland.
The sale of the Pulp Business is the third of three dispositions
resulting from the Companys strategic review of its cellulose
fibers business segment. Weyerhaeuser completed the sale of its
newsprint and printing papers business to One Rock Capital
Partners, LLC on November 1, 2016, and it completed the sale of
its liquid packaging board business to Nippon Paper Industries
Co., Ltd. on August 31, 2016. The press release announcing the
sale of the Pulp Business is attached as Exhibit 99.1 to this
Current Report on Form 8-K.
are qualified in their entirety by reference to the Purchase
Agreement between Weyerhaeuser NR Company, a wholly owned
subsidiary of the Company, and International Paper Company dated
as of May 1, 2016 (as amended on August 12, 2016, the Purchase
Agreement). The Purchase Agreement was filed as Exhibit 2.2 to
the Company’s Form 10-Q filed on August 5, 2016, the contents of
which are incorporated herein by reference.
furnished or filed herewith, other than historical facts,
constitute forward-looking statements within the meaning of the
safe harbor provisions of the Private Securities Litigation
Reform Act of 1995, as amended. All forward-looking statements
speak only as of the date hereof, are based on current
expectations and involve a number of assumptions, risks and
uncertainties that could cause the actual results to differ
materially from such forward-looking statements. Weyerhaeuser
will not update these forward-looking statements after the date
of this communication.
financial information of Weyerhaeuser Company prepared in
accordance with Article 11 of Regulation S-X is filed as Exhibit
99.2 hereto and is incorporated herein by reference:
|
|
The unaudited pro forma condensed consolidated statements of
income of Weyerhaeuser Company for the nine months ended September 30, 2016, the year ended December 31, 2015, the year ended December 31, 2014, and the year ended December 31, 2013; |
|
|
The unaudited pro forma condensed consolidated balance sheet
of Weyerhaeuser Company as of September 30, 2016; and |
|
|
Notes to the unaudited pro forma condensed consolidated
financial information. |
|
Exhibit
No.
|
|
Description
|
|
|
|
|
|
99.1
|
|
Press release of Weyerhaeuser Company dated December 1,
2016. |
|
|
|
|
|
99.2
|
|
Unaudited pro forma condensed consolidated financial
information of Weyerhaeuser Company (Incorporated by reference to Exhibit 99.2 to the Current Report on Form 8-K, File No. 1-4825, filed on November 7, 2016). |
About WEYERHAEUSER COMPANY (NYSE:WY)
Weyerhaeuser Company is a real estate investment trust (REIT). The Company is an owner of timberlands. It is principally engaged in growing and harvesting timber, as well as manufacturing, distributing and selling products made from trees. Its segments include Timberlands, Wood Products and Cellulose Fibers. It owns approximately seven million acres of timberlands, primarily in the United States, and manages additional timberlands under long-term licenses in Canada. It is engaged in the manufacturing of wood and specialty cellulose fibers products. Its Timberlands products include logs, timberland, timber, minerals, oil and gas, and other products, which includes seed and seedlings, recreational leases, as well as plywood and hardwood lumber. Its wood products include structural lumber, engineered wood products, structural panels and complimentary building products. Its Cellulose Fibers products are pulp and liquid packaging board. WEYERHAEUSER COMPANY (NYSE:WY) Recent Trading Information
WEYERHAEUSER COMPANY (NYSE:WY) closed its last trading session up +0.13 at 31.85 with 3,281,709 shares trading hands.
