SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
November 22, 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 2.06. Material Impairments
SIGNATURES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C., 20549
ITEM 2.06. MATERIAL IMPAIRMENTS
(a) On November 22, 2005, Weyerhaeuser Company approved the indefinite
curtailment of production on a 350,000 ton containerboard machine in Plymouth,
North Carolina. The company will recommend to its board of directors that the
machine be shut down permanently.
In reaching its decision, the company determined that the 48-year-old
Plymouth machine no longer is economically sustainable due to its age and high
cost, compounded by severe market conditions. The indefinite production
curtailment affects approximately 200 hourly and salaried positions in Plymouth.
In approving the indefinite curtailment of production of the
Plymouth machine, the company determined that it is likely that the company will
incur a material impairment charge in connection with the curtailment. The
company was unable to estimate the amount of the charge, however, until it
completed an impairment analysis On December 14, 2005 the company determined
the estimated amount of the charge for impairment of the assets relating to
indefinite closure of the Plymouth machine.
(b) The company estimates the impairment charge required for the
indefinite closure of the Plymouth containerboard machine to be in the range of
approximately $93 million to $110 million, including termination benefits.
(c) The company also estimates that it will incur future cash
expenditures of approximately $4 million to $6 million of the impairment charge,
relating to payment of termination benefits.
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: December 14, 2005