Although the recent hurricanes did not significantly affect our operations, we expect to experience residual effects of the storms. |
As part of a strategic review of our businesses operating in structurally challenged segments of the industry, we have determined the Prince Albert mill is no longer a strategic fit for Weyerhaeuser. |
Despite extremely challenging business conditions, we took significant steps in 2005 to make us more competitive and position us to generate greater returns while returning cash to shareholders. |
If Willamette is prepared to negotiate a definitive merger agreement promptly, Weyerhaeuser is willing to increase its offer above $50 per share. |
Our results in the third quarter reflect the difficult business conditions we face in certain segments. |
Our results reflect the strong U.S. housing market and continued unsettled world markets for pulp, paper and packaging products. |
These actions support our strategy of matching supply to demand and serving customers from our most efficient, cost-effective facilities. |
These are the first, but by no mean the final steps. |
This announcement marks an important milestone in our ongoing strategic review. We remain committed to seeking the best alternatives to create value for shareholders. |
We will continue to seek additional opportunities to unlock the value of our portfolio. |
While we still prefer to conclude a negotiated transaction with Willamette, their refusal to discuss a combination has forced us to take our offer directly to Willamette shareholders. |