Weyerhaeuser to Sell Delta Hardwoods Sawmill in Canada
Federal Way, Washington, USA, 28 July 2008 — Weyerhaeuser Company (NYSE: WY) announced today its intention to sell its hardwood mill in Delta, British Columbia, Canada.
Weyerhaeuser will entertain initial expressions of interest for the sawmill and associated timber harvesting rights by no later than 05 September 2008.
The sawmill produces solid hardwood, random width lumber used to manufacture furniture, cabinetry, and solid wood components and low-grade dimension products for the pallet industry.
The sawmill has not been in full operation since 21 February 2008, when a temporary downtime was announced because of the poor U.S. 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 USD 16.3 billion (CAD 17.5 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. 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.