12 Mar 2009, 6:43pm
Latest Forest News
by admin

Weyerhaeuser to close 5 iLevel service centers

Associated Press, Forbes.com, 03.11.09, [here]

Timber and wood-products company Weyerhaeuser Co. is permanently closing five iLevel veneer and engineered wood-service centers located in Albuquerque, N.M.; Cincinnati and Columbus, Ohio; and Las Vegas and Reno, Nevada.

The company also said Tuesday it will indefinitely shutter mills in Evergreen, Ala., and Dodson and Simsboro, La., and its TimberStrand mill in Chavies, Ky. The moves will affect about 480 employees across the nine locations.

“Demand for wood products continues to decline due to a slowdown in the housing market, and virtually all of our operating facilities are experiencing reduced operations,” said Tom Gideon, executive vice president of the company’s forest-products segment. “As a result of these challenging market conditions, the four manufacturing mills will close for an indefinite period of time to balance supply with our demand.”

Weyerhaeuser (nyse: WY - news - people ), which is based in Federal Way, Wash., said it will continue to operate its 26 other building-materials-distribution sites. These service centers sell products including lumber, plywood, oriented strand board, exterior siding, insulation and other specialty building products to dealers and home-improvement retailers.

Weyerhaeuser, which makes pulp and wood panels from trees it grows on more than 6 million acres, said it will supply customers with products from its other iLevel facilities.

Last month, the company said its fourth-quarter loss ballooned to more than $1 billion as the rapidly deteriorating U.S. housing market forced it to book a massive charge and write-down other assets. It has also said it plans to cut capital spending this year as it predicts homebuilding losses will rise and pulp results will be weaker, with lower prices and higher maintenance costs.

13 Mar 2009, 5:00pm
by bear bait

So how many billions did they get for their paper operations last year? Didn’t IP buy their pulp and paper mills? So when you don’t have that income, that leg on the stool, don’t cha think you’re due to tip over? REIT, our pants are off to you!!! Cry me some alligator tears… boo hoo. Poor Weyerhaeuser… boo hoo!!!



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