Wednesday, October 12, 2016 7:45 am

SEATTLE, Washington -- Weyerhaeuser Company announced on Wednesday the exploration of strategic alternatives for its timberlands and manufacturing operations in Uruguay. The company intends to consider a broad range of alternatives, including continuing to hold and operate the business, or a sale.

"In Uruguay, Weyerhaeuser has established a high-quality timberlands portfolio supported by value-creating manufacturing operations and a team of dedicated employees," said Doyle R. Simons, president and chief executive officer. "Following our merger with Plum Creek, we are evaluating strategic alternatives for this business to best position it for long-term success and ensure we are maximizing value for our shareholders."

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Weyerhaeuser established its operations in Uruguay in 1997. Today, its business there includes over 300,000 acres (120,000 hectares) of timberlands in northeastern and north central Uruguay, as well as a plywood and veneer manufacturing facility, a cogeneration facility, and a seedling nursery.

The review of the Uruguay operations does not guarantee that the company will pursue a transaction, or that a transaction would be completed if initiated.