Louisiana-Pacific Reaches Deal To Sell California Timberland

Louisiana-Pacific Corp. announced last week it has agreed to sell 38,000 acres of California timberland to one of the nation’s largest individual landholders for $50 million.

Portland-based Louisiana-Pacific will sell the land to Sierra-Pacific Industries of Redding, Calif., because Louisiana-Pacific no longer owns sawmills near the property, company officials said.

The land, known as the Feather Falls Tract, is in the northeast side of the Sacramento Valley. “This particular tract was not strategic to us,” said Mark A. Suwyn, Louisiana-Pacific chairman and CEO.

Sierra-Pacific, which owns mills in the area, bought the land to ensure a timber supply during an era of cutbacks of timber sold from federal land.