FEDERAL WAY, Wash., May 29, 2008 — As part of its ongoing portfolio restructuring, Weyerhaeuser Company (NYSE: WY) today announced that it is exploring strategic alternatives for its Westwood Shipping Line and four regional short line railroads.
During the transition, Westwood will continue full operations, including serving customers in more than 20 ports in Japan, Korea, China and North America with a fixed-day, weekly sailing schedule. Westwood is a wholly-owned subsidiary that operates four ConBulk vessels used by customers to ship forest products, containerized and oversized cargo.
The Company’s four short line railroads are the DeQueen & Eastern; Columbia & Cowlitz; MSV; and Golden Triangle railroads. Weyerhaeuser primarily uses the short line railroads to source mills in Arkansas, Oklahoma, Mississippi and Washington. In addition, some third-party customers also use the lines for select transportation needs.
At this time, Weyerhaeuser has not confirmed a timetable for completing this process.
Weyerhaeuser Company, one of the world's largest forest products companies, was incorporated in 1900. In 2007, sales were $16.3 billion. It has offices or operations in 13 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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