Weyerhaeuser Finds Prospective Buyer For Cosmopolis Pulp Mill; Intends To Sell Elma, Washington Veneer Plant

Charleston Investments might buy pulp mill near Aberdeen, Wash.; Elma plant will continue operations, keep its 73 employees while buyer is found.

Forest-products company Weyerhaeuser said Thursday that a prospective buyer, Charleston Investments, has been found for its Cosmopolis Pulp Mill, located near Aberdeen, Wash. No timeline has been given for a completed sale.

Weyerhaeuser also announced plans to sell its veneer manufacturing operation in Elma, Wash. The company will continue operations at the Elma plant and the 73 employees will keep their jobs while a new buyer is sought.

In October 2005 Weyerhaeuser revealed its plans to close the Cosmopolis mill, which has the capacity to manufacture 140,000 tons annually of specialty pulp for products such as plastics, photographic papers and cigarette filters.

The Elma plant has an annual capacity of 165 million square feet of 3/8-inch veneer.

Weyerhaeuser has about 7,400 employees in Washington, manages nearly 1.1 million acres of timberland and had sales of $22.6 billion in 2005.

More in Operations