Federal Way, WA, December 8, 2006--Weyerhaeuser has said that challenging market conditions necessitate further actions, which the company said could include closures, curtailments and restricted operating postures at softwood lumber, engineered lumber and structural panels operations across North America.
Downtime and restricted operating postures have already been undertaken at about 70 percent of Weyerhaeuser residential wood products facilities. These curtailments have led to significant fourth quarter production decreases across all product lines.
"Demand for wood products is very weak," said Steven R. Rogel, chairman, president and chief executive officer. "We continue to analyze our operating postures and portfolio and expect additional capacity adjustments in the near term.
"We want to be clear that these actions are not related to the performance of employees. We recognize the hard work and dedication by our team this year," Rogel said. "Weyerhaeuser's employees work diligently to make our mills competitive and today's announcement is only a reflection of the challenging business environment we face."
