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
January 6, 1999
--------------------------------------------------
(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 January 6, 1999, Weyerhaeuser Company issued the following press
release:
"FEDERAL WAY, Wash. - Weyerhaeuser Company today announced it would close
its chlor-alkali plant in Longview, Wash. as part of the long-range
plan by the forest products firm to narrow its portfolio and streamline
operations. Following closure of the plant by the end of the first
quarter, Weyerhaeuser will no longer operate chemical facilities.
The company will report a charge associated with the closure. When combined
with previously announced changes to the company's British Columbia lumber
facilities and the streamlining of pulp and paper operations company-wide,
this will result in an after-tax charge of approximately $45 million
against fourth quarter earnings. Weyerhaeuser will announce its fourth
quarter results on Jan. 20.
Approximately 100 jobs will be eliminated by the Longview closure. Laid-
off employees will receive 60 days notice or pay consistent with plant-
closure requirements and have access to outplacement services provided by
Weyerhaeuser. Changes to the British Columbia lumber facilities affect
around 200 jobs while the pulp and paper streamlining efforts affected
approximately 460 employees.
`Today's announcement is part of an ongoing process to narrow our
portfolio, streamline our operations and improve overall use of capital,'
said Steven R. Rogel, president and chief executive officer.
Seeking to improve its environmental performance, the Longview mill, as
well as other Weyerhaeuser facilities and the pulp and paper industry, has
moved away from using chlorine as the principal chemical in the pulp
bleaching process. The plastics industry, the other major user of
chlorine, is oversupplied in the world markets. Weyerhaeuser chose to
close the facility because of current market conditions and the need to
invest significant capital to ensure continued safe operation of the plant.
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 and
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."
# # #
<PAGE>
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
-----------------------------
Its: Vice President and Controller
Date: January 6, 1999
