Weyerhaeuser Company announced the completion of acquisition of Longview Timber LLC. Weyerhaeuser acquired Longview from the affiliates of Brookfield Asset Management. The acquisition included 645,000 acres of timberland located in Washington and Oregon. The acquisition increased the Weyerhaeuser Company timber holdings in the Northwest by 33% or 2.6 million acres. The transaction increased Weyerhaeuser Company holdings to approximately 6.6 million acres.

"This acquisition is a truly unique opportunity for us to grow our high-value timberlands assets west of the Cascade Mountains," said Dan Fulton, president and CEO. "This region provides excellent soil and climate conditions for growing Douglas fir, which is a preferred species for many of our customers. We intend to leverage our silviculture, infrastructure, logistics and marketing expertise to realize the full potential of these lands, which are highly complementary to our existing ownership in the area."

The Weyerhaeuser Company was founded in 1900 and is currently one of the largest private owners of timberlands. The company manages timberlands in compliance with the international forestry standards.