Weyerhaeuser Welcomes Oregon Willamette Employees as Companies Combine to Grow Global Leader

Mar 18, 2002, 00:00 ET from Weyerhauser Company

    PORTLAND, Ore., March 18 /PRNewswire-FirstCall/ -- Weyerhaeuser Company
 (NYSE:   WY) will formally welcome employees of Willamette Industries this week,
 as the two companies join forces to create a global forest products leader
 with nearly $19 billion in sales.
     More than 3,000 Willamette employees at 30 plants, forestry offices and
 other work sites across Oregon will participate in welcome and orientation
 activities that signify the official name change to Weyerhaeuser Company.
     "We're excited to officially become part of Weyerhaeuser," said Jim James,
 Willamette's general manager for Forest Resources.  "We're proud of the
 success Willamette has achieved over the years, and now we're ready to move
 forward as part of a stronger and more competitive company.  Our folks are
 eager to make the change."
     Part of a series of welcome activities at Willamette's 106 U.S. locations,
 events will include remarks by Weyerhaeuser leaders, a welcome video, safety
 orientations and information about benefits.  Employees will also raise
 temporary signage with the new company identity and begin answering the phone,
 "Weyerhaeuser Company."
     "This is a milestone on the road to growing the global leader in our
 industry, and we welcome what we know are world-class employees," said
 Steven R. Rogel, chairman, president and chief executive officer.  "Our
 combined strengths in our core businesses of forest management, building
 materials, composite panels, containerboard packaging, and pulp and fine paper
 will allow us to serve our customers better than ever.  Becoming more
 competitive means we'll be able to continue to provide well-paying jobs and to
 otherwise support the communities where we do business."
     Integration teams made up of Weyerhaeuser and Willamette employees will
 recommend how to best combine the two companies.  The teams, working now, are
 expected to complete their recommendations by early June.
     The combination creates a company with leadership positions in all of its
 major product lines and that manages approximately 40 million acres of forests
 in North America:
      -- World's largest producer of softwood market pulp.
      -- World's largest producer of softwood lumber.
      -- World's largest producer of engineered lumber products.
      -- World's second largest in global containerboard packaging.
      -- World's second largest in printing and writing paper.
     Weyerhaeuser Company, one of the world's largest integrated forest
 products companies, was incorporated in 1900.  In 2001, sales were
 $14.5 billion.  It has offices or operations in 17 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 www.weyerhaeuser.com.

SOURCE Weyerhauser Company