Weyerhaeuser could meet REIT conversion test by 2009
Sep 16, 2008. /Lesprom.com/. Forest products producer Weyerhaeuser Co said that there was a high likelihood that it could meet the asset and income tests required for conversion to a real estate investment trust structure as early as 2009.
Sep 16, 2008. /Lesprom.com/. Forest products producer Weyerhaeuser Co said that there was a high likelihood that it could meet the asset and income tests required for conversion to a real estate investment trust structure as early as 2009, Reuters reported.
"We have evolved our thinking, and today we are able to share that there is a high likelihood that we could get there in '09," CFO Patty Bedient said while at the UBS Global Paper and Forest Products Conference in New York.
Bedient also said the company had a very strong liquidity position and continued to move forward with its debt-reduction plans. The timber and forest products company, which has been undergoing a multiyear restructuring process, is under pressure from analysts and investors to adopt a REIT structure, which is more tax-efficient than its current corporate structure.