SEATTLE, Oct. 12, 2016 /PRNewswire/ -- Weyerhaeuser
Company (NYSE: WY) today announced the exploration of strategic
alternatives for its timberlands and manufacturing operations in
Uruguay. The company intends to
consider a broad range of alternatives, including continuing to
hold and operate the business, or a sale.
"In Uruguay, Weyerhaeuser has established a high-quality
timberlands portfolio supported by value-creating manufacturing
operations and a team of dedicated employees," said Doyle R. Simons, president and chief executive
officer. "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."
Weyerhaeuser established its operations in Uruguay in 1997. Today, its business there
includes over 300,000 acres (120,000 hectares) of timberlands 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.
ABOUT WEYERHAEUSER
Weyerhaeuser Company, one of the world's largest private owners
of timberlands, began operations in 1900. We own or control more
than 13 million acres of timberlands, primarily in the U.S., and
manage additional timberlands under long-term licenses in
Canada. We manage these
timberlands on a sustainable basis in compliance with
internationally recognized forestry standards. We are also one of
the largest manufacturers of wood and cellulose fibers products.
Our company is a real estate investment trust. In February 2016, we merged with Plum Creek Timber
Company, Inc. In 2015, Weyerhaeuser and Plum Creek, on a combined
basis, generated approximately $8.5
billion in net sales and employed nearly 14,000 people who
serve our customers worldwide. We are listed on the Dow Jones World
Sustainability Index. Our common stock trades on the New York Stock
Exchange under the symbol WY. Learn more at
www.weyerhaeuser.com.
FORWARD-LOOKING STATEMENTS
This communication contains statements concerning the company's
future plans that are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements relate specifically to the company's
evaluation of, and its consideration of options for, its assets and
business operations in Uruguay.
Some, but not all, of these forward looking statements can be
identified by words such as "intends" and "will". There can be no
assurance that any of the events anticipated by these
forward-looking statements will occur. If any of the events occur,
there is no guarantee what effect they will have on company
operations, financial condition or results of operations. Except as
otherwise stated, the company undertakes no obligation to update
these forward-looking statements after the date of this news
release.
For more information contact:
Analysts: Beth Baum,
206-539-4450
Financial Media: Andrew Siegel,
212-355-4449
News Media: Kate Tate, 206-539-4420
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SOURCE Weyerhaeuser Company