Weyerhaeuser to close or sell Prince Albert pulp & paper in January

Weyerhaeuser will close or sell its Prince Albert pulp and paper mill in Saskatchewan, as a result of poor market conditions. The Prince Albert facility has an annual capacity of 280,000 tons of uncoated paper and 130,000 tons of market pulp. It employs 690 hourly and salaried employees. The uncoated freesheet paper and pulp markets face fundamental challenges, including excess capacity, declining demand, mounting inventories and weak prices, according to the company. The company intends to explore all options with respect to the future of the mill, including identification of potential purchasers. Prince Albert operations will commence a phased, indefinite closure starting 3 Jan. 2006.