Home » Weyerhaeuser Agrees to Sell iLevel European Unit
Weyerhaeuser Agrees to Sell iLevel European Unit
January 16, 2008
Weyerhaeuser Company, Federal Way, WA, has agreed to sell its iLevel European engineered wood products operations to Finnforest of Finland, part of the Metsaliitto Group.
The sale includes supply commitments for iLevel's wood products brands in Europe and a diversified customer base composed primarily of wholesale distribution companies, building materials dealers, structural systems suppliers and industrial manufacturers.
This sale will allow iLevel to focus on its core North American residential wood products business,"said Carlos Guilherme, vice president of sales for Weyerhaeuser's iLevel wood products business.
Finnforest supplies building and construction segments, transport vehicle industry, other industrial customers as well as building material and DIY chains. With sales of €1.3 billion, Finnforest employs 4,400 people in 20 countries.
Following the transaction, Weyerhaeuser will continue to have a South American plywood and hardwood sales office and Cellulose Fibers presence in Europe.
Weyerhaeuser Company, a global forest products companies, has annual sales of $21.9 billion in 18 countries.