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FEDERAL WAY, WA-Due to a slowdown in the lumber market, Weyerhaeuser Company says this week it plans to close or reposition some operations during the fourth quarter to maintain a competitive position. The closures will cost the economy some 600 jobs in the U.S., Canada and Mexico.

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

The 101-year-old operation says it will permanently close a softwood lumber mill at Mountain Pine, Ark. and a White Pine sawmill and k3 particleboard plant, both in Vancouver, British Columbia, 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 its 52-week high of $63.50 on May 17, 2001.

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