FEDERAL WAY, Wash.—Forest products company Weyerhaeuser Co. said Friday it will permanently close its oriented strand board plant in the Canadian province of New Brunswick effective June 6, blaming the slowdown in the U.S. housing market.
The facility has not operated since January 2007.
Weyerhaeuser said it tried to sell the facility for more than a year, but a lack of buyer interest, the ongoing U.S. housing slump and the high cost of maintaining the site led to the decision to permanently close the facility.
Weyerhaeuser said it will continue to entertain serious offers for the facility until June 6.
Weyerhaeuser shares rose $1.88, or 3 percent, to $65.30 in afternoon trading.
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