Weyerhaeuser Company has announced its agreement to sell its Princeton, British Columbia, lumber mill to the Gorman Group for approximately $120 million CAD in cash. The sale includes Weyerhaeuser's manufacturing facility and associated timber license assets in British Columbia. This transaction, expected to close in the third quarter of 2025 following regulatory review, is set to strengthen the Gorman Group's operations and enhance job sustainability in the region. Weyerhaeuser will continue to operate the Princeton mill independently until the deal is finalized. The sale highlights the long-standing relationship between the two companies, with Gorman Group being the mill's largest customer.
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