Weyerhaeuser to Indefinitely Shut Down Hudson Bay Structurwood Facility
Federal Way, Washington, USA, 02 April 2008 -— Weyerhaeuser Company (NYSE: WY) today announced it will indefinitely curtail operations at its Structurwood plant in Hudson Bay, Saskatchewan, Canada, by early July 2008.
“The continued challenges in the North American housing market require us to bring supply into balance with demand,” said Phil Dennett, Weyerhaeuser’s vice president, Strand Technologies.
The company directly employs 170 people at the Hudson Bay oriented strand board mill.
“This difficult decision is not a reflection on the hard work of our employees,” Dennett said. “It is the result of today’s challenging business environment.” The mill will be left in a secure state from which operations can be resumed in the future. “We will also use this time to explore transfer of ownership opportunities for this operation,” said Dennett.
“Weyerhaeuser will work closely with its employees and the community over the next several months to help ensure everyone is treated as fairly as possible as these changes are carried out,” said Dennett.
The Hudson Bay plant is one of nine oriented strand board mills in the Weyerhaeuser system. It has an annual production capacity of 550 million square feet. The Hudson Bay facility reduced its operations to five days per week of production in the spring of 2007.
Weyerhaeuser Company, one of the world's largest forest products companies, was incorporated in 1900. In 2007, sales were USD 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.