Weyerhaeuser to Invest in Neshoba County Lumber Facility
Philadelphia, Miss. (July 21, 2014) — Weyerhaeuser announced today it will make a significant capital investment over a three-year period to install two continuous direct fired kilns and a new planer mill at its softwood lumber mill in Philadelphia, Miss. Work on the upgrades is expected to begin immediately.
To launch these projects, the company has been working with the Mississippi Development Authority, Community Development Partnership in Philadelphia, Miss., Senator Giles Ward, Representative C. Scott Bounds, and other state and local officials. With the help and assistance of these groups and individuals, the investments will help Weyerhaeuser retain existing jobs, expand product-line offerings and improve competitiveness and long-term viability.
“Customer demand for lumber products has improved over the last year, and we are excited for this reinvestment opportunity at Philadelphia,” said Stan Webb, unit manager at Weyerhaeuser’s lumber mill in Philadelphia, Miss. “With strengthening markets and positive support from both the Mississippi and Community Development Authorities, we’re looking forward to beginning work on these projects. I’d like to thank our associates and leadership team for delivering results that earn the right for capital. We also appreciate the support we’ve received from our local, state and federal officials.”
Weyerhaeuser’s Philadelphia lumber mill is one of the longest-running manufacturing facilities in the company. The mill was purchased from DeWeese Lumber Company in 1967 and currently employs approximately 188 people. The mill produces approximately 220 million board feet of Southern Yellow Pine two-inch dimension lumber, 2×4 through 2×12. Products are shipped to more than 140 customers in 30 states throughout the Midwest, Northeast and Southeast.
“Weyerhaeuser is a valued member of Mississippi’s business community, with locations throughout the state,” said Governor Phil Bryant. “The company is a great example of manufacturing success and its Philadelphia operations are very important to the workers and families in this area. I appreciate Weyerhaeuser’s continued investment in this facility and community and look forward to our continued strong relationship.”
Congressman Gregg Harper added, “Weyerhaeuser’s investment at the Philadelphia facility further signals their commitment to Mississippi and its residents. The forest products industry is currently experiencing resurgence, and this investment ensures Weyerhaeuser will be well positioned to capitalize. This investment is also a testament to the dedication of the citizens of Philadelphia and Neshoba County in supporting economic development in their community.”
In Mississippi, Weyerhaeuser also operates lumber mills in Bruce and Magnolia/McComb, cellulose fibers and modified fibers facilities in Columbus, real estate development in Columbus and Hattiesburg, and a building materials distribution center in Long Beach. Additionally, Weyerhaeuser sustainably manages more than 811,000 acres of timberland in 53 counties.
Weyerhaeuser Company, one of the world’s largest private owners of timberlands, began operations in 1900. We own or control nearly 7 million acres of timberlands, primarily in the U.S., and manage another 14 million acres under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards. We are also one of the largest manufacturers of wood and cellulose fibers products. Our company is a real estate investment trust. In 2013, we generated $8.5 billion in sales and employed approximately 13,700 people who serve customers worldwide. We are listed on the Dow Jones World Sustainability Index. Our common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com.