SEATTLE  -- Weyerhaeuser Company (NYSE: WY, exploring strategic alternatives for its timberlands and manufacturing operations in Uruguay, says it intends to consider a broad range of alternatives, including continuing to hold and operate the business, or a sale.

"Following our merger with Plum Creek, we are evaluating strategic alternatives for this business to best position it for long-term success and ensure we are maximizing value for our shareholders," said Doyle R. Simons, CEO. "In Uruguay, Weyerhaeuser has established a high-quality timberlands portfolio supported by value-creating manufacturing operations and a team of dedicated employees,"

Weyerhaeuser established its operations in Uruguay in 1997; its business there includes over 300,000 acres of timberland in northeastern and north central Uruguay, as well as a plywood and veneer manufacturing facility, a cogeneration facility, and a seedling nursery.

The review of the Uruguay operations does not guarantee that the company will pursue a transaction, or that a transaction would be completed if initiated.

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