-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QOY+4U8NbO2bgEr8fGKyyT+l4ubsh//jsq6rRvd+B92lS+JIlwm31YDM9UtlBabg SD8hTKgjiNS2yTFT6zF3zA== 0000106535-03-000024.txt : 20030716 0000106535-03-000024.hdr.sgml : 20030716 20030716110643 ACCESSION NUMBER: 0000106535-03-000024 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20030715 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030716 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WEYERHAEUSER CO CENTRAL INDEX KEY: 0000106535 STANDARD INDUSTRIAL CLASSIFICATION: LUMBER & WOOD PRODUCTS (NO FURNITURE) [2400] IRS NUMBER: 910470860 STATE OF INCORPORATION: WA FISCAL YEAR END: 1228 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04825 FILM NUMBER: 03788494 BUSINESS ADDRESS: STREET 1: 33663 WEYERHAEUSER WAY SOUTH CITY: FEDERAL WAY STATE: WA ZIP: 98003 BUSINESS PHONE: 2539242345 MAIL ADDRESS: STREET 1: 33663 WEYERHAEUSER WAY SOUTH CITY: FEDERAL WAY STATE: WA ZIP: 98003 8-K 1 f8kjul15.txt JULY 15 2003 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ---------------------------------- FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 July 15, 2003 ---------------------------------- (Date of earliest event report) WEYERHAEUSER COMPANY (Exact name of registrant as specified in charter) Washington 1-4825 91-0470860 ---------- ------ ---------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification incorporation or Number) organization) Federal Way, Washington 98063-9777 (Address of principal executive offices) (zip code) Registrant's telephone number, including area code: (253) 924-2345 TABLE OF CONTENTS Item 9. Regulation FD Disclosure --------------------------------- SIGNATURES ---------- SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C., 20549 Item 9. Regulation FD Disclosure On July 15, 2003, Weyerhaeuser Company a press release stating the following: DRYDEN, Ontario - Weyerhaeuser Company today announced a major restructuring of its Dryden, Ontario operations to meet changed market conditions for its forest products. The sawmill will close permanently and the pulp and paper mill workforce will be reduced, affecting about 330 hourly positions. Weyerhaeuser will take a $7 million (US), or three cents per share, after-tax charge against its second quarter earnings for costs associated with the restructuring. Weyerhaeuser will announce second quarter earnings on July 25. The sawmill will close permanently Oct. 11, affecting approximately 110 hourly employees. The woodroom will continue to operate, supplying chips to the pulp mill. In addition, about 220 positions in the pulp and paper and converting operations will be eliminated, effective Oct. 11, to achieve productivity levels comparable to other competitive pulp and paper mills. The reductions are part of Weyerhaeuser's efforts to remain competitive with other producing regions and to match production to its order levels. "The forest industry today faces serious challenges and change is essential to ensure we have a sustainable future at Dryden both in the short and long term," said Norm Bush, vice president, Ontario. "A combination of factors led to this difficult decision, including uncompetitive costs, oversupply of lumber and paper products, the rising Canadian dollar, and the impact of softwood lumber tariffs on shipments to the United States. "By making these changes, we are positioning our operations to be more competitive and successful in the short and long term, thereby providing more job and community stability for the future." The Dryden sawmill is a small, older facility, with high costs and without sufficient wood supply available to achieve competitive scale. Job reductions in pulp and paper will bring the workforce to a level more comparable to similar mills. "Employees affected by these changes are skilled, valuable and productive people who have contributed significantly to these operations over many years," Bush said. "They have earned our appreciation and gratitude and will be treated with dignity and respect through the transition process." Comprehensive programs are in place for impacted employees, including severance benefits, outplacement counseling, transition assistance, and education and relocation assistance. Everything possible will be done to identify re-employment opportunities at other Weyerhaeuser mills for impacted employees. "Weyerhaeuser remains committed to the mill and community in Dryden, and to our operations in northwestern Ontario," Bush emphasized. "Restructuring is one step we must take to make the operation competitive and viable, and positioned to provide long-term employment and economic stability for the region going forward." # # # Weyerhaeuser Company (NYSE: WY), one of the world's largest integrated forest products companies, was incorporated in 1900. In 2002, sales were $29.1 billion (18.5 billion US). It has offices or operations in 18 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. Weyerhaeuser Company Limited, a wholly owned subsidiary, has Exchangeable Shares listed on the Toronto Stock Exchange under the symbol WYL. Additional information about Weyerhaeuser's businesses, products and practices is available at http://www.weyerhaeuser.com. # # # SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. WEYERHAEUSER COMPANY By /s/ Steven J. Hillyard Its: Vice President and Chief Accounting Officer Date: July 15, 2003 -----END PRIVACY-ENHANCED MESSAGE-----