Business News

WEYERHAEUSER ANNOUNCES MILL CLOSURES AT PINE HILL

Monday 09. February 2009 - Weyerhaeuser announced today that it will indefinitely close its iLevel veneer and lumber mills in Pine Hill, Ala., effective immediately. The announcement will affect approximately 300 employees at the site.

Demand for wood products continues to decline due to a slowdown in the housing market. As a result of these challenging market conditions, the Pine Hill facilities will close for an indefinite period of time while we continue to balance supply with demand.

Weyerhaeuser will support affected employees through the closure and will provide transition benefits.

“The demand for residential wood products continues to erode and this announcement is a direct result of the business environment we face,” said Tom Gideon, executive vice president, Forest Products.

“This was a very difficult decision impacting employees who have performed well,” Gideon said. “Unfortunately, the current extraordinarily weak market conditions require that we take decisive action. We fully understand the major impact of this closure on our employees, contractors, and the Pine Hill community and we will work constructively in the weeks and months ahead on the transition.”

Weyerhaeuser continues to employ approximately 350 in Alabama at facilities in Evergreen, Tuscumbia, Millport, Marion, Sweet Water, and Camden. Additionally, Weyerhaeuser owns and sustainably manages more than 580,000 acres of timber in the state.