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Sales of Assets Keep Weyerhaeuser Afloat in 3Q08

SUGAR LAND--November 4, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Weyerhaeuser Company (NYSE:WY) (South Federal Way, Washington) has posted a third-quarter profit of $280 million, up from $101 million in the same period last year, through one-time gains from the sale of its packaging business to International Paper (NYSE:IP) (Memphis, Tennessee) and its Australian operations. However, excluding the sales gains, the company posted a loss of $3 million. "There is little doubt that we're facing extraordinary market conditions," President and CEO Daniel Fulton said. Industrial Info is tracking nine active Weyerhaeuser project worth $49 million. The projects range from a $1 million maintenance shutdown to a $25 million oxygen delignification system addition at a pulp mill.

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Industry Segment: Pulp & Paper
Word Count: 383 Words

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