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
June 16, 1998
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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 June 16, 1998, Weyerhaeuser Company issued the following press release:
"FEDERAL WAY, Wash. - Weyerhaeuser Company today said that second quarter
earnings are likely to be significantly below current analyst estimates due
to the Asian economic slowdown and increased competition from imports.
Weyerhaeuser said the Asian economic situation has weakened demand in Asia
for its products while making imports more competitive due to the strength
of the U.S. dollar. As a result, the U.S. market is experiencing increased
competition as producers find domestic markets for products they would have
shipped to Asia and higher levels of imports enter the market. The company
also said it experienced higher costs during the quarter from production
curtailments taken to balance inventories.
Weyerhaeuser will issue its second quarter earnings on July 14.
Weyerhaeuser Company (NYSE: WY), one of the world's largest integrated
forest products companies, was incorporated in 1900. In 1997, it had sales
of $11.2 billion and has offices or operations in 12 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.
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This news release contains statements concerning the company's future
results and performance that are forward looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. The
accuracy of such statements is subject to a number of risks, uncertainties
and assumptions that may cause actual results to differ materially from
those projected, including, but not limited to, the effect of general
economic conditions, including the level of interest rates and housing
starts; market demand for the company's products; the effect of forestry,
land use, environmental and other governmental regulations; and the risk of
losses from fires, floods and other natural disasters. The company is also
a large exporter and is affected by changes in economic activity in Europe
and Asia, particularly Japan, and by changes in currency exchange rates and
restrictions on international trade. These and other factors that could
cause or contribute to actual results differing materially from such
forward looking statements are discussed in greater detail in the company's
Securities and Exchange Commission filings."
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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/ Sandy D. McDade
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Its: Corporate Secretary and
Senior Legal Counsel
Date: June 17, 1998
