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 http://www.weyerhaeuser.com.
SOURCE Weyerhauser Company
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Related links:
http://www.weyerhaeuser.com
Company News On-Call:
http://www.prnewswire.com/comp/971763.html
CONTACT:
Jackie Lang, +1-503-721-2769, or Mike
Moskovitz, +1-541-741-5431, both of Weyerhauser Company
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