Steven R. Rogel, chairman, president and CEO of Weyerhaeuser Company (NYSE: WY) today made the following statement regarding the proposal to end the softwood lumber dispute between the United States and Canada.
"Weyerhaeuser, with mills in the U.S. and Canada, applauds the governments of both countries for staying at the negotiating table and for agreeing to compromises that we know will be difficult for both sides.
"We'll work hard over the next few weeks to convey our strong support of this proposal to the Canadian and U.S. governments. Ratification is vital if we're to achieve free trade and stability in the North American lumber business.
"The proposed resolution provides a framework for long-term policy change in Canada. Once the agreement is ratified, as a U.S.-based company, Weyerhaeuser will do all in its power to ensure a fair process that allows the provinces to adopt forestry policies that will lead to free trade. We must not let personalities or politics sidetrack what so many have worked so hard and so long to achieve."
Weyerhaeuser Company, one of the world's largest integrated forest products companies, was incorporated in 1900. In 2002, sales were $29.1 billion ($18.5 billion US). 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 www.weyerhaeuser.com.
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/