Weyerhaeuser Co. has sold its printing paper business, including its paper mill in southwest Washington.
The Federal Way-based company says it will pay down debt with most of the proceeds from the sale of North Pacific Paper Company, or NORPAC, to One Rock Capital Partners.
The company did not disclose terms of the deal in its announcement Wednesday.
Weyerhaeuser has operated the paper mill in Longview through a joint venture with Nippon Paper Industries Co.
The Daily News of Longview says that after the sale, Weyerhaeuser will still own a sawmill and a log export operation at the Longview site.
Last year, Weyerhaeuser bought Seattle-based Plum Creek Timber for $8.44 billion, making it the largest private owner of timberland in the U.S. with more than 13 million acres.