Following its Plum Creek merger, Weyerhaeuser looks at what to do with its Uruguay plywood and veneer manufacturing facility, among other operations there.
Weyerhaeuser Co. said it is exploring strategic alternatives for its timberlands and manufacturing operations in Uruguay, including a possible sale of the business.
Weyerhaeuser plans to permanently close its lumber mill and plywood mill in Columbia Falls, Montana, by the end of the summer. "For some time now our operations in Montana have been running below capacity as a result of an ongoing shortage of logs in the region," said Doyle R. Simons, president and chief executive officer.
Weyerhaeuser sold its iconic headquarters campus in Federal Way, Washington for $70.5 million as it prepares to move to Seattle. Its research labs will remain on the campus. Weyerhauser completed its merger with Plum Creek Timber Company last week.
Weyerhaeuser and Plum Creek will merge, creating a $23 billion timber, land and forest products company structured as a real estate investment trust (REIT), in an all-stock transaction. Plum Creek holds 6 million acres of forest in 19 states, and operates wood products mills in the Northwest.
Lumber giant Weyerhaeuser (NYSE: WY) fourth quarter earnings rose 31% to $166 million on revenues of $1.8 billion. For the year, net income more than tripled to $1.8 billion. China's demand slackened, the company says.
Weyerhaeuser Company (NYSE: WY) today reported fourth quarter net earnings of $166 million. For the full year 2014, Weyerhaeuser reported net earnings of $1.8 billion, up from $540 million last year. 31 percent increase in fourth quarter earnings.
Weyerhaeuser Company will have new leadership beginning Jan. 1, 2015. The company named Cathy Slater as senior vice president, Cellulose Fibers, and Adrian Blocker as senior vice president, Wood Products.
Weyerhaeuser Company (NYSE: WY) reported third quarter net earnings to common shareholders of $1,153 million, or $2.15 per diluted share, on net sales from continuing operations of $1.9 billion.