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Weyerhaeuser Considers Strategic Alternatives For Commercial Construction Sales
Feb 1, 2008
FEDERAL WAY, Wash., February 01, 2008 — Weyerhaeuser Company (NYSE: WY) today announced that it will consider a broad range of strategic alternatives for its Commercial Construction Sales business and related assets. Alternatives range from continuing to hold and operate the assets to a possible sale or combination.
"We are positioning our Wood Products business to grow in areas that present the greatest opportunities for our shareholders and employees," said Lee Alford, senior vice president - Residential Wood Products. "The decision to proceed with a strategic alternatives review is driven by our desire and need to focus on our core strategies in the residential structural frame market. Our goal during this review is to ensure that the Commercial Business is optimized for long-term growth."
The Commercial Business has served customers for the past 45 years by designing and delivering unique wood-based building solutions, including engineered lumber products and services, to the commercial building contractor. The business includes three manufacturing plants across the United States and operates 13 design and sales offices. Approximately 320 employees concentrated in the Northwest, Southwest and East serve the business.
Weyerhaeuser did not provide any timeframe for completing the review.
Weyerhaeuser Company, one of the world's largest 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.
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