FEDERAL WAY, Wash.--(BUSINESS WIRE)--Aug. 17, 2009--
Weyerhaeuser Company (NYSE:WY) today announced the completion of the
sale of its Commercial business to a wholly-owned subsidiary of Atlas
Holdings LLC. Terms of the sale were not disclosed.
The transaction includes four manufacturing plants focused on the
commercial construction market (located in Chino, Calif.; Hillsboro,
Ore.; Delaware, Ohio and Stayton, Ore.) and 13 sales and engineering
offices. About 230 employees will transfer from Weyerhaeuser to Atlas as
a result of the transaction.
“The people on the Commercial team have invested much hard work over the
years,” said Carlos Guilherme, iLevel vice president of marketing and
sales. “The sale of these assets provides associates with a new owner
that has the focus and long-term interest required for the commercial
segment.”
iLevel continues its commitment to providing dealer customers with a
range of products and services for single family, multi-family,
hotel/motel and light commercial construction.
“iLevel provides innovative, industry-leading products backed by
extensive technical and field support,” said Guilherme. "We plan to
supply the iLevel® Trus Joist® family of engineered lumber products and
iLevel services and software using our vast dealer network."
About Atlas Holdings
Atlas Holdings LLC operates businesses in a number of industrial
sectors, including the wood products, pulp and paper, packaging, capital
equipment and industrial services industries. Founded in 1999 with the
acquisition of a single paper mill, Atlas has since expanded its
operations to include more than 40 facilities and 3,200 employees across
North America and Europe. For additional information, please visit www.atlasholdingsllc.com.
About Weyerhaeuser
Weyerhaeuser Company, one of the world's largest forest products
companies, was incorporated in 1900. In 2008, sales were $8 billion. It
has offices or operations in 10 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 and development. Additional information about
Weyerhaeuser's businesses, products and practices is available at http://www.weyerhaeuser.com.
Source: Weyerhaeuser Company
Weyerhaeuser Company
Media – Shannon Hughes, 253-924-3096
Analysts
– Kathryn McAuley, 253-924-2058
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