Weyerhaeuser to sell Princeton, B.C., mill

Weyerhaeuser Co. is selling its lumber mill in Princeton, B.C., to the Gorman Group, parent company of Gorman Bros. Lumber Ltd., a family-owned wood products manufacturer headquartered in West Kelowna, B.C.

The cash purchase price is about $120 million and includes Weyerhaeuser’s manufacturing facility, all associated timber license assets in British Columbia, and the value of working capital.