News Room
Weyerhaeuser Receives Favorable Paragon Decision
PRNewswire
FEDERAL WAY, Wash.
Sep 26, 2007
U.S. District Court Judge Julie E. Carnes reversed the decision of the bankruptcy court and held that Weyerhaeuser did not breach its obligations when it transferred assets to Paragon during a spin-off of its diaper business.
(Logo: http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-a http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-b)
"We are pleased by the judge's decision," said Sandy D. McDade, senior vice president and general counsel. "Today's decision validates our belief that we acted properly in our disclosures at the time of the public offering and that Weyerhaeuser has no liability."
Throughout the case, Weyerhaeuser consistently maintained that the claims brought against it by the bankruptcy estate were without merit.
Weyerhaeuser Company, one of the world's largest integrated forest products companies, was incorporated in 1900. In 2006, sales were $21.9 billion. It has offices or operations in 18 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution and sale of forest products; and real estate construction, development and related activities. Additional information about Weyerhaeuser's businesses, products and practices is available at http://www.weyerhaeuser.com/.
For more information contact: Media - Frank Mendizabal (253) 924-3357 Analysts - Kathryn McAuley (253) 924-2058
First Call Analyst:
FCMN Contact:
http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-b
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SOURCE: Weyerhaeuser Company
CONTACT: media, Frank Mendizabal, +1-253-924-3357, or analysts, Kathryn
McAuley, +1-253-924-2058, both of Weyerhaeuser Company
Web site: http://www.weyerhaeuser.com/