State forestry company Coillte has confirmed that it is in negotiations with Weyerhaeuser to buy its MDF manufacturing business in Clonmel, Co. Tipperary.
A statement said the purchase was subject to due diligence, a satisfactory sale agreement, board approval by both companies and approval by the Competition Authority.
The Clonmel plant makes timber board and its sale is part of a restructuring by the US parent company.
