Weyerhaeuser Co. is selling its Warrenton mill, which will close for at least nine months.
Weyerhaeuser Co. announced the sale of its Warrenton mill, a move that will put 94 people out of work.
The mill is being sold to Hampton Affiliates, which plans to shut the facility down for nine months to a year for upgrades. 46 people were already laid off from the mill earlier this year due to the downturn in lumber demand.
“We regret the effect the closure of the Warrenton mill will have on its current employees, their families and the local community” Hampton CEO Steve Zika said. “However, the significant capital we put into the facility will improve recovery and add flexibility, which will benefit all stakeholders in the long-term.”
Weyerhaeuser signed a purchase and sale agreement with Hampton Affiliates, which includes the mill and its land. Terms of the transaction were not disclosed. Both parties said they are committed to completing the process as quickly as possible, with an expected closing date in January.
Read the full story at The Daily Astorian.
{biztweet}Warrenton Hampton mill{/biztweet}
