SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
(Date of
earliest event report)
(Exact
name of registrant as specified in charter)
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Washington
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1-4825
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91-0470860
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(State
or other
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(Commission
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(IRS
Employer
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jurisdiction
of
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File
Number)
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Identification
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incorporation
or
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Number)
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organization)
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Federal
Way, Washington 98063-9777
(Address
of principal executive offices)
(zip
code)
Registrant’s
telephone number, including area code:
(253)
924-2345
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425) |
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12) |
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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TABLE OF
CONTENTS
Item
7.01. Regulation FD Disclosure
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON
D.C., 20549
ITEM
7.01. REGULATION FD DISCLOSURE
On August
13, 2009, Weyerhaeuser Company issued a press release stating the
following:
Weyerhaeuser
To Sell 140,000 Acres of Non-Strategic Timberlands in Oregon
FEDERAL WAY, Wash. –
Weyerhaeuser Company (NYSE:WY) today announced it has agreed to sell
approximately 140,000 acres of timberlands in northwestern Oregon to an entity
affiliated with The Campbell Group LLC for approximately $300 million. The sale
is expected to close in the third quarter of 2009. The transaction is expected
to contribute approximately $100 million after-tax to third quarter earnings.
The sale represents Weyerhaeuser’s continued focus on improving financial
flexibility and liquidity.
In
addition to the Oregon property, the company announced that it will hold
discussions with interested buyers to evaluate the sale of up to an additional
82,000 acres in as many as five tracts of land in southwestern Washington
state.
The land
sold and for sale represent about 10 percent of company holdings in the Pacific
Northwest. Nationwide, Weyerhaeuser will continue to own and manage more than 6
million acres of timberlands.
“The land
sale represents a strategic re-balancing of our timberlands,” said Dan Fulton,
Weyerhaeuser president and CEO. “We have a competitive advantage in growing and
processing Douglas fir, and the sale focuses our Western operations on managing
that species. While the land sold and for sale is high-quality, productive
timberlands, the stands are predominantly hemlock, spruce and species other than
Douglas Fir.”
Following
the sales, Weyerhaeuser will own or manage nearly 1 million acres of timberland
in Oregon and will operate in more than 20 locations across the state. In
Washington state, it will own or manage more than 1 million acres of timberland
and will operate in more than 20 locations, including its corporate headquarters
in Federal Way. Weyerhaeuser employs nearly 6,000 people in the
region.
“Trees
and land are still the core of our company,” Fulton said. “We continue to be one
of the largest private landowners in the Pacific Northwest, and we remain
committed to this region for the long term.”
About the
Buyer
Portland,
Ore.-based The Campbell Group LLC is a vertically integrated, full-service timberland investment
advisory firm founded in 1981, to acquire and manage timberland for investors.
Its focus is exclusively on creating acquisition opportunities and managing them
to produce superior risk-adjusted returns. The Campbell Group manages over 2.85
million acres representing over $5.3 billion in timberland assets. It is one of
the largest timber investment managers in the world. More information about The
Campbell Group LLC is available at http://www.campbellgroup.com.
About
Weyerhaeuser
Weyerhaeuser
Company, one of the world’s largest forest products companies, was incorporated
in 1900. In 2008, sales were $8 billion. It has offices or operations in 10
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 and development. Additional
information about Weyerhaeuser’s businesses, products and practices is available
at http://www.weyerhaeuser.com.
SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly
authorized.
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WEYERHAEUSER
COMPANY
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By:
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/s/ Jeanne
Hillman |
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Its: Vice
President and Chief Accounting Officer |
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Date:
August 13, 2009