Weyerhaeuser to Permanently Close Miramichi Plant
Federal Way, Washington, USA, 25 April 2008 -— Weyerhaeuser Company (NYSE: WY) announced today that, effective 06 June 2008, it will permanently close its oriented strand board (OSB) plant located in Miramichi, New Brunswick, Canada. The facility has not operated since January 2007.
“We worked hard to sell the facility for more than one year,” said Craig Neeser, president of Weyerhaeuser’s Canadian operations. “A lack of buyer interest, the continuing poor state of the U.S. housing market, and the high cost of maintaining this idled site led to the company’s decision to permanently close the facility.”
Weyerhaeuser will continue to entertain serious offers for the facility until 06 June 2008.
"Many parties worked in good faith for a different outcome, including local and provincial governments and Weyerhaeuser Company representatives,” Neeser said. “It is unfortunate that these considerable efforts did not attract a viable new owner,” he said.
“This difficult decision is the result of today’s challenging business environment and unprecedented weakness in the U.S. housing market,” Neeser said.
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.