MEAD-WESTVACO SELLING 63,000 WV ACRES

(08/07/2007)

MeadWestvaco is selling about 63,000 acres of forestland in West Virginia. The company also announced it agreed to sell forestland in Georgia and Alabama for $400 million dollars. The sale to Wells Timberland REIT includes 228,000 acres of forestland and 95,000 acres under long-term timber contracts. The Herald was unable to determine the location of West Virginia land the company is selling. MeadWestvaco owns land in Calhoun and all regional counties, including a large section of Wirt. The company says it expects to complete the sale this fall. After it completes these transactions, MeadWestvaco will still own about 800,000 acres in South Carolina, Georgia, Alabama, Virginia and West Virginia.

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