Weyerhaeuser chief accounting officer resigns
Jerald W. Richards resigned from his position as chief accounting officer of Weyerhaeuser to become CFO of another company, according to Weyerhaeuser filing with the Securities and Exchange Commission Monday.
Jeanne Hillman 54, has been appointed VP and chief accounting officer, effective Aug. 5. She has been VP and controller – operations for Weyerhaeuser since Oct. 18, 2010. Previously, she served as the company’s VP and chief accounting officer from April 1, 2006, through Oct. 18, 2010. Prior to April 2006, Hillman held various finance positions with the company.
Hillman joined Weyerhaeuser in 1984. Prior to joining the company, she was employed by Ernst & Young.
Eco Building Products opens up shop in New Jersey
Eco Building Products is opening up a new Eco Red Shield coating facility in Fairlawn, N.J., this August. The new location, featuring rail service and a lumberyard, comes in time for the state’s Sandy Rebuild residential recovery and mold mitigation effort.
Additionally, Eco Red Shield protective lumber will also be hitting shelves around the Tri-State area, providing an alternative to mold, fire and rot-prone raw lumber.
"If someone were to go really deep in plywood inventory down in the South during this really slow housing market, come hurricane season that would be labeled as a brilliant move," said Steve Conboy, president and CEO of Eco Building Products. "The fact that Eco Red Shield appeared in and around the Sandy Rebuild, and now with it on the shelf in a big box; this was no accident. This product line looks likes it was designed for a rebuild."
According to the company, the strategic location of the new facility will enable Eco Building Products to produce enough lumber to satisfy local market requirements.
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Weyerhaeuser’s net earnings quadrupled in Q2
Weyerhaeuser’s recently released second-quarter results highlighted more than one major milestone for the company.
On a year-ago basis, net earnings before special items quadrupled to $196 million, compared with last year’s second-quarter earnings of $47 million.
Net sales increased by approximately 20% to a post-recession record of $2.1 billion.
“This was a milestone quarter for Weyerhaeuser,” said Dan Fulton, president and CEO. “We moved forward both strategically and operationally with the acquisition of Longview Timber and by delivering strong operating results in this improving housing market.”
Lumber sales volumes improved 13% compared with the first quarter, and sales volumes for most other products improved slightly. Earnings from disposition of non-strategic timberlands increased $11 million compared with the first quarter.
The company also acquired 645,000 acres of timberlands in Washington and Oregon this quarter.
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