Weyerhaeuser is calling its second-quarter performance the "company's strongest quarterly results on record."
Timber and forest product giant Weyerhaeuser has sold 145,000 of Washington timberland to Hampton Lumber. The transaction is valued at around $266 million.
Phase one includes nearly $19 million to upgrade lumber kiln-drying capacity, while the second phase will include an investment of approximately $138 million to completely modernize the Louisiana-based facility.
Susan Tranberg, a 62-year-old former employee of Weyerhaeuser, was sentenced to prison for defrauding the company out of more than $4.5 million.
Weyerhaeuser announced it will invest $16.1 million modernize the manufacturing presses and machinery used to produce laminated veneer lumber (LVL) beams at its Natchitoches plant.
Forest products and lumber giant Weyerhaeuser has reported third-quarter net earnings of $283 million, or 38 cents per diluted share, on net sales of $2.1 billion.
Forest and timber products giant Weyerhaeuser Co. has donated $150,000 to the Red Cross to support emergency response efforts in communities affected by wildfires in the Pacific Northwest.
For over 100 years, U.S.-flag ships carried lumber from the West Coast to the East and Gulf coasts. About 40 ships were regularly employed in this trade, making about 200 voyages annually.
Forestry and lumber giant Weyerhaeuser has been fined $182,000 after an employee at its OSB mill in Saskatchewan was seriously injured by a forklift.