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In Brief / LUMBER

Weyerhaeuser may sell assets

May 30, 2008|From Times Wire Services

Lumber producer Weyerhaeuser Co. said it would seek alternatives for its Westwood Shipping Line and four regional railroads. A timetable for the process hasn't been confirmed, the Federal Way, Wash.-based company said.

Weyerhaeuser's sales of units including fine paper and industrial packaging have spurred speculation that the company is moving to turn itself into a real estate investment trust to reduce taxes on profit from its 5.6 million acres of U.S. timberlands.

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