FEDERAL WAY, Wash., June 22, 2016 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today announced it will permanently close its lumber mill and plywood mill in Columbia Falls, Montana, in late August or early September.
Weyerhaeuser will continue to operate three mills in Montana: a lumber mill in Kalispell, a plywood mill in Kalispell, and a medium-density fiberboard mill in Columbia Falls.
"For some time now our operations in Montana have been running below capacity as a result of an ongoing shortage of logs in the region," said Doyle R. Simons, president and chief executive officer. "These closures will allow us to align the available log supply with our manufacturing capacity, including adding shifts at our Kalispell facilities. These moves will improve the operating performance of our remaining mills and best position these mills for long-term success."
Approximately 100 positions will be eliminated as a result of the mill closures.
The mill closures follow a decision earlier this year to move corporate positions that do not support manufacturing in Montana to Weyerhaeuser's Seattle headquarters. As a result, the company also plans to close its main office in Columbia Falls at the end of the year.
After the mill closures and office moves, Weyerhaeuser expects to employ about 550 people in Montana.
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control more than 13 million acres of timberlands, primarily in the U.S., and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards. We are also one of the largest manufacturers of wood and cellulose fibers products. Our company is a real estate investment trust. In February 2016, we merged with Plum Creek Timber Company, Inc. In 2015, Weyerhaeuser and Plum Creek, on a combined basis, generated approximately $8.5 billion in net sales and employed nearly 14,000 people who serve customers worldwide. We are listed on the Dow Jones World Sustainability Index. Our common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com.
This communication contains statements concerning the company's future results and performance that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, with respect to mill or office closures, employment levels, as well as the risk factors disclosed in Weyerhaeuser's filings with the SEC, including Weyerhaeuser's annual reports on Form 10-K for the year ended December 31, 2015. These forward-looking statements are based on various assumptions and may not be accurate because of risks and uncertainties surrounding these assumptions. Factors listed above, as well as other factors, may cause actual results to differ significantly from these forward-looking statements. There is no guarantee that any of the events anticipated by these forward-looking statements will occur. If any of the events occur, there is no guarantee what effect they will have on company operations or financial condition. The company will not update these forward-looking statements after the date of this news release.
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SOURCE Weyerhaeuser Company