Content about Federal Way, Washington

Forest products supplier Weyerhaeuser has announced a mail-in rebate program for building industry professionals this summer on several of its oriented strand board (OSB) products. The company is offering $3.00 cash back per panel of 7/8-in. or thicker of Weyerhaeuser Edge Gold flooring (or $1.50 for each 23/32-in. panel), and $1.00 per panel of Weyerhaeuser Radiant Barrier Sheathing (RBS) -- up to 100 panels for each product line. Building material dealers also can earn rebates of $0.25 per panel, up to $250 total for Edge Gold flooring and up to $100 total for RBS. 

The Board of Directors of Federal Way, Wash.-based Weyerhaeuser Co. declared a dividend of $0.15 per share on the common stock of the corporation payable June 1, 2012, to shareholders of record at the close of business May 11, 2012.

Weyerhaeuser, one of the world's largest forest products companies, began operations in 1900. The company grows and harvest trees, builds homes and makes a range of forest products. At the end of 2011, the company generated annual sales of $6.2 billion and employed approximately 12,800 employees in 11 countries. 

Federal Way, Wash.-based Weyerhaeuser Co. reported net earnings of $65 million for the fourth quarter, on net sales from continuing operations of $1.6 billion. This compares with net earnings of $171 million on net sales from continuing operations of $1.5 billion for the same period last year.

Federal Way, Wash.-based Weyerhaeuser has announced it is now supplying Versetta Stone panelized stone veneer to northeast and mid-Atlantic U.S. markets. 

Weyerhaeuser has announced its decision to transition all of its wood products back to the Weyerhaeuser name. Going forward, the “iLevel by Weyerhaeuser” business will simply be known as Weyerhaeuser.

Weyerhaeuser is selling its hardwoods and industrial products business unit to American Industrial Partners (AIP).

AIP announced the "definitive agreement" Wednesday and said the deal should close in August.  The new business will operate as Northwest Hardwoods Inc., headquartered in Tacoma, Wash., with operations in the United States, Canada, China, Japan and Hong Kong.

Weyerhaeuser ranked as the “Most Admired Company” in the Forest and Paper Products category of Fortune Magazine’s annual rankings of large U.S. companies, published online on March 7. International Paper came in second.

Listed as “contenders” were Domtar, Boise, Universal Forest Products and AbitibiBowater.

Federal Way, Wash.-based Weyerhaeuser reported net earnings of $1.116 billion for the third quarter, compared with essentially $0 in profit in the same quarter last year.

The company's net sales were $1.664 billion, up 18.3% from $1.407 billion in the same quarter last year.

Earnings for the third quarter of 2010 included $1.035 billion from income tax adjustments, primarily related to the reversal of deferred taxes as a result of Weyerhaeuser’s conversion to a real estate investment trust (REIT).