Weyerhaeuser Co. (NYSE: WY), Federal Way, WA, reported first quarter sales of $1.8 billion, a 6.3 percent increase year-over-year. Profit decreased 22.2 percent to $70 million.
Weyerhaeuser merged with Plum Creek Timber Co. Inc. on Feb. 19. Consolidated results for the first quarter of 2016 include the results of Plum Creek for the period of Feb. 19 through March 31.
On May 2, Weyerhaeuser announced it had agreed to sell its cellulose fibers pulp mills to International Paper for $2.2 billion. The transaction with International Paper does not include Weyerhaeuser's liquid packaging board facility or newsprint and publishing papers venture.