PORTLAND, Ore., Nov. 13 /PRNewswire/ Willamette Industries (NYSE: WLL)
today offered the following response to the public announcement by
Weyerhaeuser Company (NYSE: WY) of Weyerhaeuser's November 6 proposal to
acquire Willamette:
"The Willamette Board of Directors confirmed that it received
Weyerhaeuser's proposal of Monday, November 6. The Board is committed to
acting in the best interests of Willamette shareholders and other
constituencies, and Willamette informed Weyerhaeuser on Friday,
November 10 that its Board was reviewing the proposal. Willamette is
continuing to review the proposal and will respond in due course. It is
unfortunate that Weyerhaeuser chose to make its proposal public at this time."
Willamette Industries is an integrated forest products company with more
than 100 plants, located in the U.S., France, Ireland and Mexico, which
produce building materials, composite wood panels, fine paper, office paper
products, corrugated packaging, and grocery bags. Willamette owns 1.7 million
acres of forestland in the U.S. that are managed according to the company's
Sustainable Management for Timber, Water Quality and Wildlife Program.
SOURCE Willamette Industries, Inc.
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http://www.wii.com
Company News On-Call:
http://www.prnewswire.com/comp/971763.html or fax,
800-758-5804, ext. 971763
CONTACT:
Cathy Dunn, V.P. Communications of Willamette
Industries, 503-273-5642, or Paul Verbinnen, David Reno, and Jim
Barron of Citigate Sard Verbinnen, 212-687-8080
NOTE TO EDITORS: A full copy of this release, as well as other
company news, is available at http://www.wii.com
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