Weyerhaeuser has continued to focus its attention on its timber and land assets after announcing the sale of its containerboard packaging and recycling operations.
The sale has earned Weyerhaeuser US$6bn and seen it remove over 100 locations and 14,3000 employees from its business.
Chairman and chief executive officer Steven Rogel said that the sale signalled the company’s continued determination to focus on its timber division.
“[The] future begins with the trees and the land, and our outstanding stewardship of these resources,” said Mr Rogel.
“To this we add our unique expertise in growing and extracting value from the trees and the land on which they grow.”
Weyerhaeuser has recently announced a number of closures and curtailments within its North American operations, as it looks to overcome the continued downturn in the US housing market. Despite this, it recorded a US$337m year-on-year growth in net earnings during 2007.
