OTHER NEWS - Jan. 4, 1992
From Times Staff and Wire Reports
Weyerhaeuser Posts Its First-Ever Yearly Loss: The Tacoma, Wash., timber giant said it lost $172 million in 1991 and will shut down up to four mills in coming months. The loss is the first since Weyerhaeuser began reporting financial results 59 years ago. Turmoil in the real estate market, low pulp and paper prices and fewer home starts are among the reasons for the loss, the company said. In 1990, Weyerhaeuser had a profit of $394 million. The company said it will close a mill in Klamath Falls, Ore., in April. A mill in Everett is among plants under review for closure. The company is also considering closing another plant in the Northwest and a plant out of the region.
