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Article: Weyerhaeuser to reconfigure North Carolina wood products facility.
- Article from:
- Business Wire
- Article date:
- June 18, 1997
CopyrightCOPYRIGHT 1997 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PLYMOUTH, N.C.--(BUSINESS WIRE)--June 18, 1997--Weyerhaeuser Company today announced it will close its Plymouth Plywood facility as part of the company's long-term strategy to align its wood product manufacturing facilities with changing future sources of raw material. The company will book charges associated with the closure during the second quarter. The charges, which will be material to second quarter earnings, will be more than offset by the positive effect in the same period of the previously announced sale of the Weyerhaeuser Mortgage Company.
The company is closing the facility rather than modernizing it due to current market conditions and high raw ...