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 1, 1997
-------------------------------
(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)
Tacoma, Washington 98477
---------------------------------------------------
(Address of principal executive offices)
(zip code)
Registrant's telephone number, including area code:
(253) 924-2345
<PAGE>
Item 5. Other Events
On July 1, 1997, Weyerhaeuser Company issued the following press
release:
"FEDERAL WAY, Wash. - Weyerhaeuser Company today announced that
it has completed the purchase of the assets of a subsidiary of
Fletcher Challenge Forests in New Zealand. The subsidiary,
Tasman Forestry (Nelson) Ltd., owned 51 percent of an existing
joint venture. The joint venture holds 78,000 hectares, or
approximately 193,000 acres, near the city of Nelson on the
northern end of the South Island.
The forested area of the joint venture consists of 60,000
hectares (148,000 acres) of Crown Forest License cutting rights,
and approximately 18,000 hectares (45,000 acres) of predominantly
freehold land. Weyerhaeuser, the 51 percent partner in the joint
venture, will be responsible for management and marketing. The
remaining 49 percent interest in the joint venture continues to
be held by RII New Zealand Forests I, Inc., which is owned by
institutional investors represented by UBS Resource Investments
Inter'l.
Weyerhaeuser announced that it had an agreement to purchase the
timber, land and related assets for US $185 million plus net
working capital in April. Completion of the sale was dependent
on approvals by the New Zealand government and the investors in
RII New Zealand Forests I, Inc. These approvals have been
received and the sale has closed.
<PAGE>
Weyerhaeuser Company is one of the largest integrated forest
products companies in the world. Its principal segments are
timberlands and wood products; pulp, paper and packaging; and
real estate. It is the world's largest private owner of
merchantable softwood timber with forests in the Pacific
Northwest and Southeastern US, and in Canada. It is the worlds
largest producer of softwood lumber and market pulp, and is also
one of North America's largest recyclers of office wastepaper,
newspaper and corrugated boxes.
RII, a division of UBS Asset Management (New York) Inc. which is
owned by Union Bank of Switzerland, represents institutional
investors and has advised investors in New Zealand forestry
ventures since 1991."
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/ Robert A. Dowdy
----------------------------------
Its: Vice President and General Counsel
Date: July 1, 1997
