Weyerhaeuser will close Pacific Rim Bonsai Collection

From staff reports:

Weyerhaeuser Company announced the closure of it Pacific Rim Bonsai Collection, located at its corporate headquarters in Federal Way.

The closure takes effect April 2, according to a company statement. During the closure, the facility will be maintained and the trees preserved, the company said. The bonsai collection's status will be reviewed when the economy recovers, the company said.

The closure stems from a need to reduce general and administrative expenses, the company said.

Weyerhaeuser in 2009

• Weyerhaeuser's fourth-quarter loss exceeded $1 billion in 2008, according to an AP report Feb. 6. New home sales decreased 14.7 percent in December to the slowest pace since 1963, the report said. The U.S. housing market pushed lumber prices to their worst levels in more than 20 years, with homebuilding at its weakest since 1959, the report said.

• Weyerhaeuser announced earlier this month that it will close its iLevel veneer and lumber mills in Pine Hill, Ala. The closure, effective immediately, will affect about 300 employees at that location.

• On Jan. 26, Weyerhaeuser announced the closure of two mills in Aberdeen, Wash., due to weak market conditions. The closures affected some 220 workers.

• Weyerhaeuser announced that Charles Williamson has been elected as the company board's non-executive chairman. Yhe 60-year-old Williamson will replace Steven Rogel, the current chairman set to retire April 15.

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