Weyerhaeuser has signed a letter of intent to sell its commercial Trus Joist operation to Connecticut-based investment company Atlas Holdings.
The sale includes four manufacturing facilities in California, Oregon and Ohio, as well as 13 sales and engineering offices. The business area currently employs 428.
No financial details of the sale have been released, although it is expected to close before the end of the year.
The decision to sell the commercial operation comes after a prolonged period of review which saw Weyerhaeuser investigate a number of possibilities for the future.
“After a thorough review of the alternatives, we believe the decision to explore the sale of this business and its assets to Atlas Holdings is in the best interest of our shareholders, employees and customers,said Carlos Guilherme, iLevel vice president of sales.