Weyerhaeuser Company (NYSE: WY) today announced that three softwood lumber sawmills in Canada and one in western Washington will take periods of downtime due to poor market conditions.
The downtime, which will take 60 million to 70 million board feet out of Weyerhaeuser's system, is scheduled to begin in May and June. Weyerhaeuser said its other mills will fill customer orders while the company continues to take actions to improve operating efficiencies throughout its softwood lumber production system.
"Despite the best efforts of our mill employees, we cannot avoid market downtime," said Bill Corbin, executive vice president, Wood Products. "We're taking this action to balance our production with market demand."
Corbin said Weyerhaeuser is monitoring customer demand closely and will adjust its operating plans to meet its customers' needs.
Mills affected by today's announcement are sawmills in Grande Cache, Alta.; Carrot River, Sask.; Chapleau, Ont.; and Aberdeen, Wash.
Weyerhaeuser is the one of the world's largest producers of softwood lumber, with the capacity to produce 7.6 billion board feet a year.
Weyerhaeuser Company (NYSE: WY), one of the world's largest integrated forest products companies, was incorporated in 1900. In 2002, sales were Cdn$29.1 billion (US$18.5 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. Weyerhaeuser Company Limited, a wholly owned subsidiary, has Exchangeable Shares listed on the Toronto Stock Exchange under the symbol WYL. Additional information about Weyerhaeuser's businesses, products and practices is available at http://www.weyerhaeuser.com/ .
CONTACT: media, Frank Mendizabal, +1-253-924-3357, or analysts, Kathryn McAuley, +1-253-924-2058, both of Weyerhaeuser Company Limited.
SOURCE: Weyerhaeuser Company Limited
CONTACT: media, Frank Mendizabal, +1-253-924-3357, or analysts, Kathryn
McAuley, +1-253-924-2058, both of Weyerhaeuser Company Limited
Web site: http://www.weyerhaeuser.com/