Weyerhaeuser cuts dividend, closes mill - Puget Sound Business Journal (Seattle):

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The Federal Way timber giant (NYSE: WY) also said it will closd its lumber millnear Taylor, La., puttintg 39 people out of work. Compang officials did not change the outloolkon second-quarter guidance that they will announcre on July 31. Analysts are expecting a second-quartet loss of 70 cents per share. “Althougyh our guidance for the recently completed quarteremains unchanged, the economicx outlook for our businesses continues to be challenged and uncertain.
We are takingf many actions, including deferring timber shutting andcurtailing facilities, and reducing costs wherever possible to preservd our long-term value and improv our performance during this uncertain period,” said Dan Fulton, president and CEO, in a The Louisiana mill is being shut down because “demandd for wood products continues to declined due to a slowdown in the housing market,” officials said in a