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Weyerhaeuser Announces Closures of Two Washington Mills

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  Published in Stocks and Investing on Monday, January 26th 2009 at 17:07 GMT, Last Modified on 2009-01-26 17:07:42 by Market Wire
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FEDERAL WAY, Wash.--([ BUSINESS WIRE ])--Weyerhaeuser Company (NYSE: WY) today announced the immediate closure of two mills in Washington state due to weak market conditions.

The closures include:

• The permanent shutdown of the Aberdeen sawmill with a capacity to produce 200 million board feet of lumber.
• The permanent shutdown of the Pacific Veneer mill in Aberdeen. The mill has the capacity to produce 210 million square feet of veneer.

"We fully understand the major effect of these changes for our employees, contractors and the community, and we will work constructively in the weeks and months ahead to prepare for the transition," said Tom Gideon, executive vice president, Forest Products. "Unfortunately, the current extraordinarily weak market conditions require that we take decisive action."

The closures will affect approximately 196 hourly and 25 salaried positions. Weyerhaeuser will support affected employees with transition benefits, severance, employment counseling and potential job opportunities at other Weyerhaeuser mills.

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 ].