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 10, 2000
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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)
Federal Way, Washington 98063
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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 10, 2000, Weyerhaeuser Company issued a press release stating the
following:
"FEDERAL WAY, Wash.-- Weyerhaeuser Company today announced that it would
take an after-tax charge of $82 million during the second quarter to cover
estimated costs of a nationwide class action settlement and claims related
to hardboard siding. The settlement is subject to court approval and other
conditions in the agreement. Weyerhaeuser expects the court to complete
its review of the settlement in the fourth quarter.
'This is a claims-based settlement, which means that the claims will be
paid as submitted over a nine-year period,' said Robert A. Dowdy, vice
president and general counsel. 'An independent adjuster will review each
claim submitted and determine if it qualifies for payment under terms of
the settlement agreement. A small percentage of property owners with
Weyerhaeuser siding have previously submitted claims under the company's
warranty program. This proposed settlement will benefit the company by
ending the uncertainty and expense of defending class action litigation.'
Weyerhaeuser will hold a conference call for analysts on July 10
at 8:30 a.m. PDT to discuss the settlement. To access that call,
participants should dial 877-461-2816 or 416-695-9757 prior to the
scheduled start time. There will be a replay available for 24 hours
starting at 9:30 a.m. PDT on July 10. The replay may be accessed by
calling 888-509-0082 or 416-695-9768. No conference ID code is required.
Weyerhaeuser Company (NYSE: WY), one of the world's largest integrated
forest products companies, was incorporated in 1900. In 1999, sales were
$12.3 billion. It has offices or operations in 13 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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Statements contained in this press release concerning the company's future
results and performance 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; the risk of losses from
fires, floods and other natural disasters; and the company's ability to
execute its business plans, including its transition plans for the
MacMillan Bloedel and TJ International acquisitions. 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/ K.J. Stancato
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Its: Vice President and Controller
Date: July 10, 2000
