FEDERAL WAY (dpa-AFX) - Weyerhaeuser Co. (WY), a private owner of timberlands, announced Wednesday the exploration of strategic alternatives for its timberlands and manufacturing operations in Uruguay. The company said it intends to consider a broad range of alternatives, including continuing to hold and operate the business, or a sale.
Doyle Simons, president and chief executive officer, said, 'Following our merger with Plum Creek, we are evaluating strategic alternatives for this business to best position it for long-term success and ensure we are maximizing value for our shareholders.'
Weyerhaeuser established its operations in Uruguay in 1997. The business in that country currently includes over 300,000 acres of timberlands in northeastern and north central Uruguay, as well as a plywood and veneer manufacturing facility, a cogeneration facility, and a seedling nursery.
The company added that the review of the Uruguay operations does not guarantee that it will pursue a transaction, or that a transaction would be completed if initiated.
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