Weyerhaeuser posted 2006 fine paper business net loss of $613 million
Feb 19, 2007. For the year ended December 31, 2006, the Weyerhaeuser fine paper business had a net loss of $613 million, or $2.18 per share, on net sales of $3.3 billion.
Feb 19, 2007. /Lesprom Network/. Weyerhaeuser Company reported on February 16 the fourth quarter 2006 results of the Weyerhaeuser fine paper business (a business unit of Weyerhaeuser Company) which includes assets that are expected to be combined with Domtar, Inc. The Weyerhaeuser fine paper business had fourth quarter net earnings of $105 million, or $0.37 per share, on net sales of $872 million. Operating income was $149 million. Included in earnings in the fourth quarter was a gain of $65 million pre tax for the refund of countervailing and anti-dumping duties on Canadian softwood lumber sold in the United States.
For the year ended December 31, 2006, the Weyerhaeuser fine paper business had a net loss of $613 million, or $2.18 per share, on net sales of $3.3 billion. Operating loss was $562 million.
These results have been derived from the historical accounting records of Weyerhaeuser Company and have not yet been audited. The historical operating results of the Weyerhaeuser fine paper business may not be indicative of what they would have been had the Weyerhaeuser fine paper business been a stand-alone entity, nor are they necessarily indicative of what the Weyerhaeuser fine paper business operating results may be in the future.
The Weyerhaeuser fine paper business has no common stock authorized or outstanding. As a result, earnings per share is based on the estimated number of shares of Domtar Corporation common stock that Weyerhaeuser Company would have received as consideration had the transaction closed on December 31, 2006.
The Weyerhaeuser fine paper business is the second largest integrated manufacturer of uncoated free sheet in North America and the third largest in the world based on production capacity. In 2006, sales were $3.3 billion. The Weyerhaeuser fine paper business has six uncoated free sheet mills in the United States and two in Canada (one of which is currently not in operation), one coated groundwood mill in the United States, a pulp mill in Canada and owns or has an equity interest in three sawmills in Canada.