WEYERHAEUSER COMPANY (NYSE:WY) Files An 8-K Material Impairments

Section 2 – Financial Information

Item 2.06. Material Impairments

Weyerhaeuser Company (the Company or Weyerhaeuser) has completed
the previously announced strategic review of its Uruguayan
timberlands and manufacturing business. On June 2, 2017, the
Weyerhaeuser Board of Directors approved an agreement to sell all
of the Companys equity in the Uruguayan business, resulting in
the related assets meeting the criteria under generally accepted
accounting principles to be classified as held for sale. As a
result, the Company determined on June 2, 2017 that it will be
required to record the related assets at fair value, less an
amount of estimated sale costs, and thus recognize a non-cash
pre-tax impairment charge during the second quarter of 2017. The
Companys current estimate of the impairment charge is
approximately $150 million. A description of the transaction is
set forth below in Item 8.01.

Section 8 – Other Events

Item 8.01 Other Events

On June 2, 2017, Weyerhaeuser entered into an equity purchase
agreement with a consortium led by BTG Pactuals Timberland
Investment Group (TIG), including other long-term institutional
investors, to which the Company has agreed to sell, in exchange
for $402.5 million in cash, all of its equity interest in
subsidiaries that collectively own and operate its Uruguayan
timberlands and manufacturing business. The business is comprised
principally of 300,000 acres of eucalyptus and pine timberlands
in northeastern and north central Uruguay, a plywood and veneer
manufacturing facility, a cogeneration facility, a seedling
nursery and related assets. The transaction is subject to
customary purchase price adjustments, including adjustments
relating to target working capital, harvest limitations and
inventory amounts, as well as standard operating covenants,
casualty loss provisions, indemnities and closing conditions,
including regulatory review. The sale is expected to close in the
fourth quarter of 2017.

Forward Looking Statements

Statements in this current report on Form 8-K about the expected
timing and completion of Weyerhaeusers sale of its Uruguayan
timberlands and manufacturing business, the Companys estimate of
the related impairment charge disclosed in Item 2.06 and any
other statements in this report and in any exhibits filed
herewith, other than historical facts, constitute forward-looking
statements within the meaning of the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995, as amended.
All forward-looking statements speak only as of the date hereof,
are based on current expectations and involve and are subject to
a number of assumptions, risks and uncertainties that could cause
actual results to differ materially from such forward-looking
statements. Some of these assumptions, risks and uncertainties
are detailed from time to time in our filings with the Securities
and Exchange Commission, including without limitation those set
forth under Risk Factors in our Annual Report on Form 10-K for
the year ended December 31, 2016. In addition, Weyerhaeuser may
not be able to complete the sale of its Uruguayan timberlands and
manufacturing business within the stated time period, or at all,
because of a number of factors, including without limitation: the
occurrence of any event, change or other circumstances that could
give rise to a termination of the transaction under the terms of
the equity purchase agreement; the failure to obtain requisite
regulatory approvals; or the failure to satisfy other closing
conditions. There is no guarantee that any of the events
anticipated by these forward-looking statements will occur. If
any of the events occur, there is no guarantee what effect they
will have on company operations or financial condition.>The
Company will not update these forward-looking statements after
the date of this report.

Section 9 – Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits

(d) Exhibits. The following exhibit is filed with this report.

Exhibit No. Description