Weyerhaeuser agreed to sell its Clonmel, Ireland-based composite-panel business to a state-owned forestry company.
Terms of the sale to Coillte Teoranta weren't disclosed. The transaction is subject to Irish Competition Authority approval.
The Clonmel mill has a capacity of 230 million square feet. About 145 employees work in the mill.
Previously, Weyerhaeuser announced the sale of its North American composite-panels business. The business had been a strong performer for Weyerhaeuser, but was a small component of the company's wood-products business.
Coillte is an Irish State-owned company operating in forestry, land-based businesses and added-value processing operations.