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Weyerhaeuser May Have Buyer for Cosmopolis Pulp Mill

Feb. 15, 2008 - Weyerhaeuser today said that it intends to enter into preliminary/formal purchase discussions with Evergreen Pulp/Grays Harbor PUD to buy the Cosmopolis Pulp Mill, located near Aberdeen, Washington.

Weyerhaeuser shut down the mill in September 2006.

According to Weyerhaeuser, a viable proposal offered by Evergreen Pulp/Grays Harbor PUD offered assurance that sustained operations could be resumed at the mill, while offering appropriate sales value to Weyerhaeuser.

Weyerhaeuser said the offer was very competitive and that it is hopeful that further discussions will lead to a definitive purchase and sales agreement.

There is no timeline for completing the discussions, Weyerhaeuser added.

The Cosmopolis mill, built in 1957, has the capacity to manufacture 140,000 tons-per-year of specialty pulp for plastics, photographic papers, and cigarette filters, among other products.

Weyerhaeuser announced closure of the pulp mill in October 2005. Purchase discussions announced in 2007 with Charlestown Investments were not completed.

SOURCE: Weyerhaeuser Company




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