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Weyerhaeuser Officially Welcomes Willamette Employees

Tuesday, March 19, 2002

Press release from the issuing company

FEDERAL WAY, Wash.--March 18, 2002--Weyerhaeuser today formally welcomed Willamette Industries employees as part of the new combined company. Business leaders and others held a series of welcome events and activities at Willamette locations to mark the official name change to Weyerhaeuser. "This is a significant milestone in combining the operations of the two companies as we continue to grow the global leader in our industry,'' said Steven R. Rogel, chairman, president and chief executive officer of Weyerhaeuser. "We're very optimistic about our future. We know we have challenges ahead, but we also know we have the team in place to take advantage of our opportunities.'' The combination creates a company that would have had sales of approximately $19 billion in 2001 and will have leadership positions in all of its major product lines: * World's largest producer of softwood market pulp. * World's largest producer of softwood lumber. * World's largest producer of engineered lumber products. * World's second largest in containerboard packaging. * World's second largest in printing and writing paper. * Manages approximately 40 million acres of forestland for sustainable wood production while protecting important natural resources. "The 'hand in glove' fit of the Willamette assets with Weyerhaeuser gives us the size to better meet the needs of a wide array of customers,'' said Rogel. "In addition, our combined company draws on the talents, processes and systems of Willamette and Weyerhaeuser to create an even stronger single company.'' Integration teams made up of people from both Weyerhaeuser and Willamette will recommend how to best combine the two companies. The teams, working now, are expected to complete their recommendations by early June.

 

 

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