SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
July 9, 1997
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(Date of earliest event report)
WEYERHAEUSER COMPANY
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(Exact name of registrant as specified in charter)
Washington 1-4825 91-0470860
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation or Number)
organization)
Tacoma, Washington 98477
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(Address of principal executive offices)
(zip code)
Registrant's telephone number, including area code:
(253) 924-2345
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Item 5. Other Events
On July 8, 1997, Weyerhaeuser Company issued the following press
release:
"FEDERAL WAY, Wash. - Weyerhaeuser Company and Nippon Paper
Industries Co., Ltd. today announced the signing of a memorandum
of understanding restructuring their North Pacific Paper
Corporation (NORPAC) joint venture.
Under the agreement, Weyerhaeuser and Nippon Paper each will own
50 percent of NORPAC. Weyerhaeuser currently owns 80 percent of
the joint venture with Nippon Paper holding the remaining 20
percent interest. Marketing responsibilities are unchanged.
The agreement is subject to several contingencies, including
approval by the boards of each company. Terms were not
disclosed.
Founded in 1976, NORPAC makes high-quality newsprint for
newspaper publishers and printers in the western United States
and Japan. Although Weyerhaeuser is the majority owner of the
venture, both companies share management responsibility and have
gradually moved towards equal ownership. In 1989, Nippon Paper
increased its ownership from 10 percent to 20 percent.
<PAGE>
Weyerhaeuser Company is one of the largest integrated forest
product 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 and producer of softwood lumber and
market pulp. It also is one of North America's largest recyclers
of office wastepaper, newspaper and corrugated boxes.
Nippon Paper Industries Co., Ltd., headquartered in Tokyo, Japan,
also is one of the largest integrated pulp and paper
manufacturers in the world. It is involved in the production and
sales of products ranging from newsprint, coated and uncoated
wood-free paper, information and specialty paper, publication-
grade paper to Kraft pulp, chemical products and building
materials."
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/ K. J. Stancato
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Its: Vice President and Controller
Date: July 9, 1997
