Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
Weyerhaeuser International, Inc history
Weyerhaeuser International, Inc company history timeline
Weyerhaeuser worked at a succession of menial jobs, but he saved his money and eventually bought a sawmill in 1857 in Rock Island, Illinois.
In 1860 he took as a partner Frederick C.A. Denkmann, his brother-in-law.
Public Company Incorporated: 1900 as Weyerhaeuser Timber CompanyEmployees: 39,022Sales $9.22 billionStock Exchanges: Midwest New York Pacific TokyoSICs: 2611 Pulp Mills; 2631 Paperboard Mills; 2421 Sawmills & Planing Mills—General; 6552 Subdividers & Developers Nee
Founded in 1900 by Frederick Weyerhaeuser, we’ve grown to become one of the largest sustainable forest products companies in the world.
Timber holdings doubled in the period preceding World War I. In 1902 the company purchased its first sawmill, located in Everett, Washington, to produce lumber.
By 1903, Weyerhaeuser owned more than 1.5 million acres of land in Washington.
Although it established a sawmill in Everett in 1903, the company initially gave little attention to the manufacturing side of the lumber business.
1903: Opens its first sawmill, in Everett.
The company built a second sawmill in Everett in 1915.
Weyerhaeuser Sales Company had been established in 1916 to promote this postwar expansion of markets.
John P. Weyerhaeuser, eldest son of the founder, led the company during the war and through the 1920s.
By the end of the decade, it was operating 22 mills. It opened a lumber distribution center in Baltimore, Maryland, in 1921.
Company sales to Japan started in 1923, when the island needed Weyerhaeuser lumber to rebuild Tokyo and Yokohama following an earthquake.
Weyerhaeuser responded by creating the Logged Off Land Company in 1925 to handle the sale of "logged off" land, study reforestation, and lobby at the state level for lower timberland taxes.
In 1929, the company built what was then the world’s largest sawmill in Longview, Washington.
Weyerhaeuser’s pulp mill in Longview, which began production in 1931, sustained the company financially during the Great Depression.
By 1933, profits from pulp offset losses from lumber.
In 1935 the kidnapping of George Weyerhaeuser, the nine-year-old son of CEO John P. Weyerhaeuser Jr., catapulted the Weyerhaeuser family to national attention.
In 1940 the company expanded its lumber business to include plywood and paneling.
In 1940 the company started the first tree farm in the United States, near Gray’s Harbor in Washington.
In 1941 the company started the first tree farm in the United States, near Gray's Harbor in Washington.
In 1941, industry executives joined John P. Weyerhaeuser Jr., company vice president, and Governor Arthur Langlie in dedicating the nation’s first tree farm, on the Clemons tract near Montesano.
In keeping with the spirit of its founder, the Weyerhaeuser Company established the Weyerhaeuser Company Foundation in 1948, which has donated more than $100 million to humanitarian causes, public outreach, and education programs.
Timberland holdings expanded beyond the Pacific Northwest for the first time, as land was purchased in Mississippi and Alabama in 1956 and in North Carolina the following year.
"Weyerhaeuser Timber: Out of the Woods," Fortune, September 1959.
The Weyerhaeuser Company (as the company was renamed in 1959) is still a world leader in lumber sales.
With its increased diversification, the company in 1959 dropped "Timber" from its official name to become Weyerhaeuser Company and adopted its current trademark, a triangular tree over the word "Weyerhaeuser."
In 1960, and for the first time in company history, the presidency of Weyerhaeuser passed out of the family to Norton Clapp.
Under Clapp, the company went public in 1963. It expanded into the Japanese market as a result of surplus lumber involuntarily "logged" by Typhoon Frieda's 150-mile-per-hour winds in 1962.
Although Weyerhaeuser shares had for some time been periodically available for purchase by the public in the "over the counter" market, the company under Clapp officially went public in December 1963, with listings on the New York and Pacific Stock Exchanges.
Weyerhaeuser’s first overseas office was opened in Tokyo in 1963.
Under Clapp the company went public in 1963 and expanded overseas, into Japan.
In 1965 Warren Buffett took majority control of the textile manufacturer Berkshire Hathaway Inc., turning it into his primary investment vehicle.
In 1965, Weyerhaeuser built its first bleached kraft pulp mill in Canada.
Computers were introduced into operations in 1966.
Under George H. Weyerhaeuser (Frederick’s great-grandson), who became company president in 1966, “high-yield forestry” became the company’s guiding principle.
Weyerhaeuser implemented its High Yield Forestry Plan in 1967 which drew upon 30 years of forestry research and field experience.
In 1969 Weyerhaeuser entered the homebuilding business through the acquisitions of Quadrant Corporation of Washington and Pardee Construction Company of California, leading to the formation of Weyerhaeuser Real Estate Company that same year.
In the meantime, Weyerhaeuser in the fall of 1969 completed its largest ever single purchase of land when it purchased from Dierks Forests 1.8 million acres of forestland in Arkansas and Oklahoma along with several sawmills and paper mills.
1969: Weyerhaeuser Real Estate Co. begins with a California development.
The company's Asian connection was strengthened when former United States President Richard Nixon initiated partial relations with China in 1971.
In 1971 it established an environmental policy that outlined its commitments and codes of behavior toward the environment, as well as to the surrounding communities and its employees.
In 1973, after six years of planning, the company finalized a joint venture with Jujo Paper Company of Tokyo.
In 1973 sales surpassed the $2 billion mark.
"Weyerhaeuser Gets Set for the 21st Century," Fortune, April 1977.
In 1979 company sales were $4.4 billion.
By 1983 the company had completed a timber salvage program and replanted 18 million seedlings in the volcanic area.
In 1986 Weyerhaeuser became the first United States forest products company listed on the Tokyo Stock Exchange and soon became the third most traded foreign stock there.
Under John Creighton, who became president in 1988, Weyerhaeuser returned to a focus on forest products.
As the restructuring program was gaining momentum in 1989, an economic recession loomed.
Where the Future Grows, Tacoma, Wash.: Weyerhaeuser Corporation, 1989.
In one dramatic example, Weyerhaeuser instituted safety measures that reduced workers' compensation claims from $30 million to $10 million by 1990.
By 1990 the company had sold or closed operations that had previously accounted for nearly $1 billion in sales.
In 1990, with Weyerhaeuser’s stock selling below breakup value and earnings below the industry average, the company reviewed its corporate strategy and reaffirmed its commitment to its historic strengths in paper and wood.
Profits in the first quarter of 1991 jumped 81 percent and, for the year, the company recorded earnings of $372 million.
Also in 1991 Creighton added CEO responsibilities to his duties as president.
In 1993 Weyerhaeuser's diaper business was sold for $215 million; GNA Corp., Weyerhaeuser's consumer finance unit, was sold for $525 million, which represented the largest divestiture ever made by the company.
The company bought 240,700 acres of timberland in the United States South in December 1995, then bought 661,200 acres in Mississippi and Louisiana and two sawmills early the following year.
Rogel had earned kudos for his tough-minded restructuring efforts at Willamette and was expected to focus on improving Weyerhaeuser's profitability, which had been on the decline since a peak in 1995 of $799 million.
Later in 1996 Weyerhaeuser sold its facilities in Klamath Falls, Oregon, and 600,000 acres of forest to United States Timberlands for $309 million.
In a further narrowing of the company's focus, Weyerhaeuser sold its mortgage company subsidiary and its Canadian chemical business in 1997.
In 1999, Weyerhaeuser purchased MacMillan Bloedel Limited, a large Canadian forestry company.
1999: Buys MacMillan Bloedel for $2.8 billion, acquiring 6.9 million acres of owned and licensed timber and 72 facilities.
In January 2000 Weyerhaeuser acquired TJ International Inc., thereby gaining full control of Trus Joint.
The deal closed in June 2000 at a final price of $8.1 billion, which included $1.8 billion in assumed debt.
The second blockbuster deal of the Rogel era entailed a protracted hostile takeover battle that commenced in November 2000.
In 2000 wood products accounted for 42 percent of revenues; pulp, paper, and packaging, 41 percent; real estate and related assets, 9 percent; and timberlands, 7 percent.
In 2001 the company's sales totaled $14.5 billion.
In 2001 in acquired a 50 percent interest in Southern Cone Timber Investors Limited, a joint venture with institutional investors focusing on plantation forests in the Southern Hemisphere.
At the same time in 2001, it reported net earnings of $107 million.
Officers: Steven Rogel, 59, Chmn., Pres., and CEO, 2001 salary $2,100,000; William Stivers 63, CFO, EVP, 2001 Salary $761,00; William Corbin, 60, EVP Wood Products, 2001 Salary $885,000; Richard Hanson, 58, EVP Timberlands, 2001 Salary $655,000; Steven Hill, 54, SVP of Human Resources
The merger agreement with Willamette Industries, completed in January 2002 and described as a "hostile takeover," was the most significant development in the company's recent history.
——, "Not Lumbering: Weyerhaeuser's Steven Rogel Moves Quickly, Decisively," Puget Sound Business Journal (Seattle), April 26, 2002.
Then in 2002 after a protracted hostile buyout, the company acquired Willamette Industries, Inc. of Portland, Oregon.
In the first quarter of 2002, Weyerhaeuser earned $.27 per share.
By the end of 2004, however, debt had been cut to around $10.6 billion, and as the economy began turning around that year, Weyerhaeuser achieved record profits of $1.28 billion on revenues of $22.67 billion, a 14 percent increase over the previous year.
Today (2004), Weyerhaeuser’s diversified business interests include plant nurseries, food and chemical products, real estate development, and mortgage and insurance companies.
Rogel set a goal of $300 million in savings achieved through consolidation by early 2005.
The company also sold its French composites business in 2005.
Weyerhaeuser continued closing operations and selling assets in 2005.
The company planned to spin off its fine paper operations, a unit that had generated $2.4 billion in revenues during 2005, to its shareholders as a new company, which would then be merged into the Canadian firm Domtar Inc.
In June 2006 Warren Buffett announced that he would donate more than 80 percent of his wealth to charitable foundations.
Another noncore operation was jettisoned in July 2006 when the company exited from the composite panels business by selling its six United States composite mills to Markham, Ontario-based Flakeboard Company Limited.
On August 23, 2006, Weyerhaeuser announced a deal which spun off its fine paper business to be combined with Domtar, a $3.3 billion cash and stock deal leaving Weyerhaeuser stock holders with 55 percent ownership of the new Domtar company.
During the subprime mortgage crisis of 2007–08, Buffett made a number of deals that, though questioned at the time, proved highly profitable.
In March 2008, Weyerhaeuser Company announced the sale of its Containerboard Packaging and Recycling business to International Paper for $6 billion in cash, subject to post closing adjustments.
In November 2009 Buffett announced that Berkshire was buying the railroad company Burlington Northern Santa Fe Corporation for about $26 billion; the investment group already owned approximately 23 percent of the railroad.
In 2010 Buffett and the Gateses created the Giving Pledge, an invitation to other wealthy individuals to donate the majority of their fortune to charities.
Weyerhaeuser converted into a real estate investment trust when it filed its 2010 tax return.
2011: Sells Northwest Hardwoods, which had 1,000 employees, and Westwood Shipping Lines, which has a fleet of seven ships.
In 2013, Weyerhaeuser purchased Longview Timber for $2.65 billion including debt from Brookfield Asset Management.
2013: Doyle Simons named CEO; sells residential real-estate unit, which includes Quadrant and four other brands, to Tri Pointe Homes of Irvine, Calif.
2015: Weyerhaeuser announces $8.4 billion acquisition of Plum Creek Timber, expected to close next year.
"Weyerhaeuser Company ." International Directory of Company Histories. . Retrieved May 23, 2022 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/weyerhaeuser-company-1
Rate Weyerhaeuser International, Inc's efforts to communicate its history to employees.
Weyerhaeuser International, Inc jobs
Do you work at Weyerhaeuser International, Inc?
Is Weyerhaeuser International, Inc's vision a big part of strategic planning?
Weyerhaeuser International, Inc history FAQs
Zippia gives an in-depth look into the details of Weyerhaeuser International, Inc, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Weyerhaeuser International, Inc. The employee data is based on information from people who have self-reported their past or current employments at Weyerhaeuser International, Inc. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Weyerhaeuser International, Inc. The data presented on this page does not represent the view of Weyerhaeuser International, Inc and its employees or that of Zippia.
Weyerhaeuser International, Inc may also be known as or be related to Weyerhaeuser Company, Weyerhaeuser International, Weyerhaeuser International Inc and Weyerhaeuser International, Inc.