It’s been a busy past three months for Weyerhaeuser, a time period labeled ‘a milestone quarter’ by the company’s CEO during the announcement of its 2Q results on July 24.
The quarter was highlighted by the acquisition of Longview Timber LLC from affiliates of Brookfield Asset Management. The buy of approximately 645,000 acres of high-quality timberlands in Washington and Oregon will expand Weyerhaeuser’s timber holdings in the Pacific Northwest by 33 percent to approximately 2.6 million acres. The transaction increases the total amount of U.S. timberlands Weyerhaeuser owns or controls to approximately 6.6 million acres.
“This acquisition is a truly unique opportunity for us to grow our high-value timberlands assets west of the Cascade Mountains,” said Dan Fulton, Weyerhaeuser president and CEO, at the time. “This region provides excellent soil and climate conditions for growing Douglas fir, which is a preferred species for many of our customers.”
Fulton added that the company intends to leverage its silviculture, infrastructure, logistics and marketing expertise to realize the full potential of these lands, which are highly complementary to Weyerhaeuser’s existing ownership in the area.
In addition to the acquisition’s completion, Weyerhaeuser announced on July 25 the results of the company’s 10th annual sustainability report.
More than 40 specific goals for conservation have been targeted for accomplishment by 2020, under the pillars of “performance, people and planet.”
Among the highlights achieved so far that were noted in the report were a 50 percent total shareholder return for last year, and a $4 million investment for in-kind giving, cash donations and employee time spent in support of Weyerhaeuser’s operating communities.
Since the start of 2012, the company has also been the recipient of more than 20 third-party awards and recognitions. In addition to being included on the Dow Jones Sustainability World Index both years, Weyerhaeuser was also named one of Corporate Responsibility magazine’s 100 Best Corporate Citizens, and one of the World’s Most Ethical Companies by Ethisphere Institute.
Other sustainability areas where the company has moved forward in the past year include:
– Nine percent reduction in solid waste sent to landfills since 2010. This is close to the company’s 10 percent reduction goal by 2020.
– 19 percent water use reduction since 2007 in the company’s Cellulose Fibers business.
– 28 percent greenhouse gas emissions reduction since 2000, closing in on the 40 percent goal by 2020.
– Implementation of a new Eco+ Innovation program for revenue and investment tracking where improvements in Weyerhaeuser’s environmental performance and substitutions of renewable energy and materials have been made.