Weyerhaeuser, one of the world's largest forest productscompanies, says the actions would result in an after-tax charge of$21 million, or 10 cents per share, when it reports fourth quarterresults on Jan. 23, 2002. In 2000, Weyerhaeuser posted sales of $16billion.

The 101-year-old operation says it will permanently close asoftwood lumber mill at Mountain Pine, Ark. and a White Pinesawmill and k3 particleboard plant, both in Vancouver, BritishColumbia, and a few more facilities in Durango, Mexico.

In afternoon trading, shares of Weyerhaeuser were trading at$54.40 apiece, up $0.57 on the day, but still about $9 off of its52-week high of $63.50 on May 17, 2001.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.