Texas Company Sells Timber Operation

Texas holding company Valhi Inc. says it will sell Medite Corp., the oldest timber operation in southern Oregon, for $250 million.

Sierra Pine, a California limited partnership, will buy Medite’s fiberboard plant in Medford, veneer mill in Rogue River and lumber mill in White City.

Sierra Pine is a partnership of Timber Products Co. of Springfield, which has a plant in Medford, and Sierra Pacific Industries of Redding, Calif.

Rogue Resources, a coalition of Oregon timber companies, is buying Medite’s 170,000 acres of timberland. Participants include Superior Lumber Co. of Glendale, C&D Lumber Co. of Riddle, Sun Studs of Roseburg and Rough & Ready Lumber Co. of O’Brien.

Willamette Industries Inc. of Portland is buying Medite’s medium-density fiberboard plant in Northern Ireland.