Weyerhaeuser Announces Sale of Elma, Washington Veneer Operation
FEDERAL WAY, Wash., June 7 /-- Weyerhaeuser Company (NYSE:WY) announced today it has signed a purchase and sale agreement to transfer ownership of its veneer technologies operation in Elma, Wash. to Murphy Company of Eugene, Oregon.
"We are pleased to reach mutually agreeable terms with Murphy Company," said Cathy Slater, vice president of Weyerhaeuser's veneer technologies. "Our dedicated associates continue to safely operate the mill and meet our customer needs. We anticipate that the sale will be completed within the next 45 days."
The Elma facility employs 60 people and produces green and dry veneer, which was sold to internal customers. It has the capacity to produce 165 million square feet of 3/8-inch veneer annually.
Murphy Company, based in Eugene, Oregon is a forest products company producing plywood and veneer. It recently announced it would start up an engineered wood facility in Sutherlin, Oregon this fall.
In Washington, Weyerhaeuser employs approximately 7,200 people in a variety of businesses and manages approximately 1.1 million acres of timberland.
Weyerhaeuser Company, one of the world's largest integrated forest products companies, was incorporated in 1900. In 2006, sales were $21.9 billion. It has offices or operations in 18 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution and sale of forest products; and real estate construction, development and related activities. Additional information about Weyerhaeuser's businesses, products and practices is available at http://www.weyerhaeuser.com/.
Source: Weyerhaeuser Company
CONTACT: Media, Kate Tate, +1-253-924-7250, Trade Media, Shawn Watson,
+1-253-924-4691, both of Weyerhaeuser Company; or John Murphy of Murphy
Company, +1-541-461-1200, for Weyerhaeuser Company
Web site: http://www.weyerhaeuser.com/
