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Weyerhaeuser to Sell Delta, BC Hardwoods Sawmill
Jul 28, 2008
FEDERAL WAY, Wash., July 28, 2008 — Weyerhaeuser Company (NYSE: WY) announced today its intention to sell its hardwood mill in Delta, British Columbia.
Weyerhaeuser will entertain initial expressions of interest for the sawmill and associated timber harvesting rights by no later than September 5, 2008.
The sawmill produces solid hardwood, random width lumber used for the manufacture of furniture, cabinetry and solid wood components and low-grade dimension products for the pallet industry.
The sawmill has not been in full operation since February 21, 2008 when a temporary downtime was announced due to the poor US housing market and appreciation of the Canadian dollar. The downtime will remain unchanged, affecting 88 employees.
Weyerhaeuser Company (NYSE: WY), one of the world's largest forest products companies, was incorporated in 1900. In 2007, sales were $17.5 billion ($16.3 billion US). 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. 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.
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