July 31, 2006 - Weyerhaeuser Company said that it has completed the sale of its North American composite panels business to Flakeboard America Limited, a U.S. subsidiary of Flakeboard Company Limited.

Terms of the deal were not disclosed.

In the transaction, Flakeboard has acquired mills in Albany, Ore.; Bennettsville, S.C.; Eugene, Ore.; Malvern, Ark.; and Simsboro, La. The mills, which produce medium density fiberboard (MDF) or particleboard, have the capacity to produce a total of 1.1 billion square feet annually.

Flakeboard is a Delaware corporation headquartered in Fort Mill, S.C. Flakeboard Company Limited is headquartered in Markham, Ontario and currently has manufacturing facilities in Ontario and New Brunswick.

SOURCE: Weyerhaeuser Company