Weyerhaeuser Announces Closure of Its iLevel Veneer Technologies Facility in Junction City, Oregon

Weyerhaeuser Company (NYSE:WY) today announced that it will permanently close its iLevel Veneer Technologies Facility in Junction City, Ore., effective March 3, 2008. Demand for engineered wood products has declined due to a slowdown in the housing market. As a result of these challenging market conditions, Weyerhaeuser will discontinue veneer drying operations at its Junction City facility and adjust production internally to meet customer orders. The planned facility closure, which affects 56 associates, was a difficult decision according to Cathy Slater, vice president of veneer technologies. "Weyerhaeuser made the difficult decision to close this plant,” Slater said. "This is an exceptional workforce,” she said. "Our associates worked diligently to make this mill productive and safe.” Affected associates will be counseled on specific details regarding benefits. Weyerhaeuser employs approximately 3,650 people in Oregon in a variety of businesses and manages approximately 1.1 million acres of timberland. Weyerhaeuser Company, one of the world’s largest forest products companies, was incorporated in 1900. In 2007, sales were $16.3 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. Additional information about Weyerhaeuser’s businesses, products and practices is available at http://www.weyerhaeuser.com.