October 31, 2007

Weyerhaeuser hurt by housing slump (Reuters)

Construction work continues on new homes in Carlsbad, California September 18, 2007. Weyerhaeuser Co, a major U.S. forest products company, said on Wednesday its third-quarter net income fell more than 50 percent, as the slump in the U.S. housing market hurt log prices and demand for its wood products. (Mike Blake/Reuters)Reuters – Weyerhaeuser Co , a major U.S.
forest products company, posted a sharp fall in quarterly
earnings on Wednesday but exceeded expectations as strength in
its fibers and packaging units partially offset weak demand for
its wood products.

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