Weyerhaeuser Deals Irish Unit

It sells the composite-panel business to a state-owned forestry company.
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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.