Weyerhaeuser (WY) has entered into a commercial partnership with TimberHP, aiming to expand distribution of TimberHP's wood fiber insulation products in the US, the companies said Thursday.

Under the agreement, Weyerhaeuser will hold US commercialization and distribution rights for TimberHP products like TimberBatt and TimberBoard within the lumber and building materials channel.

The partnership will utilize Weyerhaeuser's transportation logistics, sales capabilities and customer relationships to make TimberHP products more widely available to dealers, builders and contractors, the companies said.

Financial terms of the agreement were not disclosed.

Weyerhaeuser shares were 1.5% higher in Thursday trading.

Price: 18.92, Change: +0.34, Percent Change: +1.86