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Weyerhaeuser Encourages Swift Congressional ActionTo Restore Confidence and Stability in U.S. Financial Markets
Oct 1, 2008
FEDERAL WAY, Wash., October 01, 2008 — Weyerhaeuser Company, one of the world’s largest forest products companies, today called on Congress to take quick action to address the nation’s current financial situation, saying passage of legislation is vital to the economic health of the nation.
The following statement may be attributed to Dan Fulton, president and chief executive officer:
“Weyerhaeuser urges members of the U.S. Senate and House of Representatives to support legislation that will re-instill confidence and stability in the financial markets. The current tight credit market is a significant barrier to functioning capital markets, new home construction and capital-intensive businesses. This further aggravates the impacts of the already depressed housing market, which is a significant market for Weyerhaeuser – from timberlands and residential wood products businesses to our home building companies. The ability to grow all of our businesses, including cellulose fibers, requires access to a healthy banking system in order to promote economic growth. Passage of legislation is vital to the health and preservation of jobs in all sectors of the economy of the states in which we operate and the nation. We urge Congress to act swiftly.”
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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