SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
October 4, 2005
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(Date of earliest event report)
WEYERHAEUSER COMPANY
(Exact name of registrant as specified in charter)
Washington 1-4825 91-0470860
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation or Number)
organization)
Federal Way, Washington 98063-9777
(Address of principal executive offices)
(zip code)
Registrant's telephone number, including area code:
(253) 924-2345
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:
----- Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
----- Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
----- Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act(17 CFR 240.14d-2(b))
----- Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act(17 CFR 240.13e-4(c))
TABLE OF CONTENTS
Item 7.01. Regulation FD Disclosure
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C., 20549
ITEM 7.01. REGULATION FD DISCLOSURE
On October 4, 2005, Weyerhaeuser Company issued a press release stating the
following:
Weyerhaeuser Announces Indefinite Closure at Prince Albert Pulp & Paper
FEDERAL WAY, Wash. - As a result of poor market conditions, the Prince Albert
pulp and paper mill in Saskatchewan faces indefinite closure, Weyerhaeuser
Company (NYSE: WY) announced today.
"Today's announcement is an important step in strengthening Weyerhaeuser's
overall portfolio to enhance shareholder value," said Steven R. Rogel, chairman,
president and chief executive officer. "As part of a strategic review of our
businesses operating in structurally challenged segments of the industry, we
have determined the Prince Albert mill is no longer a strategic fit for
Weyerhaeuser. We will continue to seek additional opportunities to unlock the
value of our portfolio."
The uncoated free-sheet paper and pulp markets face fundamental challenges,
including excess capacity, declining demand, mounting inventories and weak
prices. Weyerhaeuser made its determination regarding the Saskatchewan operation
as a result of these market conditions.
The company intends to explore all options with respect to the future of the
mill, including identification of potential purchasers. Pursuant to
Saskatchewan legislation, the company has given 90 days' notice to begin
workforce reduction.
Prince Albert operations will commence a phased, indefinite closure starting
Jan. 3, 2006. Paper operations will cease production on or about Jan. 2. The
pulp mill will continue operating until spring to minimize risk of damage caused
by cold winter weather.
"We fully understand the major impact of these changes for our employees,
contractors, the community and customers, and we will work constructively in the
weeks and months ahead to prepare for the transition," said Craig Neeser, senior
vice president, Canada. "Unfortunately, market conditions have reached a point
where we have no alternative."
The Prince Albert facility has an annual capacity of 280,000 tons of uncoated
paper and 130,000 tons of market pulp. It employs 690 hourly and salaried
employees.
Weyerhaeuser Company (NYSE: WY), one of the world's largest integrated forest
products companies, was incorporated in 1900. In 2004, sales were $22.7
billion. It has offices or operations in 19 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.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
WEYERHAEUSER COMPANY
By /s/ Steven J. Hillyard
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Its: Vice President and
Chief Accounting Officer
Date: October 4, 2005