By Maria Saporta
Plum Creek Timber Co. is adding to its land holdings in the Southeast including 36,000 acres in Georgia.
On Monday Oct. 28, Plum Creek announced that it had signed a $1.1 billion purchase and sale agreement to acquire about 501,000 acres of industrial timberlands, associated wind and mineral assets, and an interest in about 109,000 acres of high-value rural and development-quality lands from MeadWestvaco Corp.
The transaction is expected to close during the fourth quarter of 2013 and it is still subject to customary closing conditions.
