Weyerhaeuser said its plant in Miramichi, New Brunswick, will be permanently closed after its yearlong search for a buyer proved fruitless.
Weyerhaeuser said Friday it will permanently close a Canadian plant that has been idle for more than a year.
The oriented strand board (OSB) plant, located in Miramichi, New Brunswick, has not operated since January 2007.
“We worked hard to sell the facility for more than one year,” said Craig Neeser, president of Weyerhaeuser’s Canadian operations. “A lack of buyer interest, the continuing poor state of the U.S. housing market and the high cost of maintaining this idled site led to the company’s decision to permanently close the facility.”
Weyerhaeuser said it will continue to entertain serious offers for the facility until June 6, 2008.
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“Many parties worked in good faith for a different outcome, including local and provincial governments and Weyerhaeuser Company representatives,” Neeser said. “It is unfortunate that these considerable efforts did not attract a viable new owner.”