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NEW YORK (Dow Jones) - Weyerhaeuser Co. on Friday unveiled further closures in a string of factory shutdowns and said more changes lie ahead.
Weyerhaeuser shares rose 67 cents Friday to $66.27 .
The Federal Way, Wash., integrated forest-products company will shut a Plymouth, N.C., containerboard machine it had already idled, eliminating 200 jobs. Weyerhaeuser will take a fourth-quarter pre-tax charge of $115 to $135 million .
The 48-year-old idled containerboard machine in Plymouth has the capacity to make 350,000 tons a year of linerboard, the smooth outer surface of boxes, from recycled fiber, Weyerhaeuser said.
Corrugated packaging plants in Bedford Heights, Ohio, Elmira Heights, N.Y.; Little Rock, Ark.; and Matthews, N.C., will close as will a corrugated sheet feeder plants in Pulaski, Tenn., and Waco, Texas, and a paper bag plant in Kansas City .
Three corrugated sheet plants in Little Rock, Memphis and Shreveport, La., and a specialty packaging plant in Valley View, Ohio, will also be sold.
After the closing bell Thursday, Weyerhaeuser said it would permanently close two paper machines and take a fourth-quarter pre-tax charge of $380 million to $ 385 million .
A machine at the Dryden Pulp and Paper mill in Ontario, Canada, will be closed April 1 , and the Prince Albert pulp and paper mill in Saskatchewan, Canada , will be closed by the end of the year.
The closures are latest in a series of announcements by Weyerhaeuser since early October in an effort to cut capacity. The cuts include a box-finishing operation in California, a sawmill and pulp mill in Washington and a plywood mill in Oklahoma.
"As a result of our ongoing strategic review, we anticipate future changes," according to the company's statement Friday.
Weyerhaeuser's composite-panels business was a small part of the company's wood-products business, producing $122 million, a bit more than 2%, of the company's $5.6 billion of third-quarter sales. (END) Dow Jones Newswires 12-16-05 1717ET Copyright (c) 2005 Dow Jones & Company, Inc.
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