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For sale sign on Weyerhaeuser Miramichi


May 29, 2007
By Pulp & Paper Canada

Weyerhaeuser is selling its OSB plant in Miramichi, NB.

Weyerhaeuser is selling its OSB plant in Miramichi, NB.

According to a recent report by Forestweb, the mill, which has a capacity of 430 million ft2, has been closed since February. A statement issued on May 4 related to the companys first quarter financial performance confirmed the first quarter of 2007 included a pre-tax item of $56 million for impairment charges associated with the intended sales of the Canadian distribution business and Miramichi, OSB mill.

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Forestweb further reported from an SEC filing dated May 10 that read, Management has continued to evaluate its strategic options for the [Miramichi OSB] facility and on April 30, 2007, the company announced that the facility would not be part of its long-term operations.

The report additionally confirmed that due to a struggling OSB market situation, management decided on the requirement of a $26 million impairment charge.

While the impairment charge will not result in future cash expenditures, the timing of a potential sale or closure of the facility may result in additional costs related to severance, maintenance and other activities, the report said.


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