-----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, C4hRHtBv5ajOPZV12JRd4bZYw05xhk8ZMjjXEOgL0K8eNH8NKwbcYpBGjteZaurs 9sVqqD0+9ah2WSReom4B4Q== 0000950134-07-021825.txt : 20071024 0000950134-07-021825.hdr.sgml : 20071024 20071024090123 ACCESSION NUMBER: 0000950134-07-021825 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20071018 ITEM INFORMATION: Cost Associated with Exit or Disposal Activities FILED AS OF DATE: 20071024 DATE AS OF CHANGE: 20071024 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: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04825 FILM NUMBER: 071186989 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 v34774e8vk.htm FORM 8-K e8vk
 

 
 
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
October 18, 2007
 
(Date of earliest event report)
WEYERHAEUSER COMPANY
 
(Exact name of registrant as specified in charter)
         
Washington   1-4825   91-0470860
(State or other
jurisdiction of
incorporation or
organization) 		  (Commission
File Number) 		  (IRS Employer
Identification
Number)
Federal Way, Washington 98063-9777
 
(Address of principal executive offices) (zip code)
Registrant’s telephone number, including area code:
(253) 924-2345
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

 

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C., 20549
ITEM 2.05 COSTS ASSOCIATED WITH EXIT OR DISPOSAL ACTIVITIES
(a) On October 18, 2007, the Board of Directors of Weyerhaeuser Company approved the indefinite curtailments of its oriented strand board plants in Drayton Valley, Alberta, and Wawa, Ontario, and its laminated strand lumber plant in Deerwood, Minn. The decline in North American housing starts and reduced customer demand for wood products led to the indefinite curtailments, which are expected to be effective before year-end 2007. The curtailments are part of an ongoing effort to strengthen Weyerhaeuser’s overall portfolio to enhance shareholder value.
The Wawa and Drayton Valley plants are two of nine OSB mills in the Weyerhaeuser system. Wawa has an annual production capacity of approximately 470 million square feet of OSB and Drayton Valley has an annual production capacity of approximately 415 million square feet of OSB. The curtailments are expected to affect approximately 130 employees at each of the Wawa and Drayton Valley plants. The adjacent sawmill at Drayton Valley will continue to run.
The Deerwood plant produces laminated strand lumber products and has a capacity of approximately six million cubic feet per year. The plant is one of three such Weyerhaeuser operations. The Deerwood closure will affect approximately 160 employees.
(b) The company estimates that it will record net pre-tax charges by major category in the following range:
                 
Dollar amounts in millions   Low     High  
Asset impairments
   $ 30     $ 40  
Termination benefits
     15       19  
Other closure costs
     2       4  
 
            
 
   $ 47     $ 63  
 
            
(c) The total estimated range of pre-tax charges expected to be recognized in connection with the indefinite closure decisions above is $47 million to $63 million. Charges related to asset impairments and termination benefits are expected to be recognized in the fourth quarter of 2007.
(d) The company estimates that total cash expenditures relating to the indefinite closure will range from $17 million to $23 million.

 

 

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/ Jeanne Hillman    
Its:      Vice President and   
  Chief Accounting Officer   
Date: October 23, 2007

 

-----END PRIVACY-ENHANCED MESSAGE-----