Weyerhaeuser announced that it has reached an agreement to sell its iLevel European engineered wood products operations to Finland-based Finnforest. The terms of the sale were not disclosed.
Included in the transaction were approximately 30 sales and technical support associates as well as supply commitments for iLevel wood products.
“This sale will allow iLevel to focus on its core North American residential wood products business,” said Carlos Guilherme, vp-sales for Weyerhaeuser’s iLevel wood products business.
Finnforest provides products and services to targeted customer segments, such as building and construction, transport vehicle industry, other industrial customers as well as building material and DIY chains with operations in more than 20 countries. The company is part of the MetsaliittoGroup, one of the largest forest industry groups in the world.