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December 9, 2006
Weyerhaeuser Provides Update on Wood Products Market
FEDERAL WAY, Wash., -- Weyerhaeuser Company (NYSE:WY) has announced that challenging market conditions necessitate further actions, which could include closures, curtailments and restricted operating postures at softwood lumber, engineered lumber and structural panels operations across North America.
Downtime and restricted operating postures have already been undertaken at about 70 percent of Weyerhaeuser residential wood products facilities. These curtailments have led to significant fourth quarter production decreases across all product lines.
"Demand for wood products is very weak," said Steven R. Rogel, chairman, president and chief executive officer. "We continue to analyze our operating postures and portfolio and expect additional capacity adjustments in the near term.
Weyerhaeuser Company, one of the world's largest integrated forest products companies, was incorporated in 1900. In 2005, sales were $22.6 billion. It has offices or operations in 18 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.
Edited & Posted by the Editor | 7:16 PM | Link to this Post
