Coillte today confirmed that it has entered into negotiations with Weyerhaeuser Company to purchase Weyerhaeuser Europe Ltd's MDF manufacturing business in Clonmel, Co. Tipperary.

The purchase of the business is subject to confirmatory due diligence, conclusion of a satisfactory sale agreement, Board approval by both the Coillte and Weyerhaeuser Boards and approval by the Irish Competition Authority.

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For more information, please contact: Gerry Egan, Company Secretary: (01) 2011173 / (086) 2591409