Business Services Industry
Weyerhaeuser to Shut Down Two Oregon Mills, Lay Off Nearly 200 Workers.
Knight Ridder/Tribune Business News, August, 2003
The News Tribune, Tacoma, Wash. Knight Ridder/Tribune Business News
Aug. 19--Weyerhaeuser Co. said it will shut down two mills in Oregon and lay off nearly 200 people as a result of poor market conditions and continuing efforts to cut costs.
Investors apparently liked the decision, pushing shares of the Federal Way company up to a 52-week high on Monday.
The forest products company will close a containerboard mill in North Bend, Ore. The mill was closed temporarily in early July as the company waited for the market to recover.
The mill's 158 employees will stay on the payroll until the official closure date of Oct. 13, the company said.
Weyerhaeuser also said it will close a plant in Junction City, Ore., by the end of...
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