In a statement issued at the same time as the results, Weyerhaeuser has said that it plans to look at future options for Federal Way as it looks to further improve profits in the rest of 2007.
“As we look to the second quarter, we see continued challenges in many of our markets,” said Weyerhaeuser chairman Steven Rogel.
“These conditions only underscore the need for us to continue to improve our operating performance and maintain our sharp focus on the strategic initiatives we’re implementing to create more value for our shareholders.”
Become a REIT would offer the company lower tax rates and the potential to offer bigger returns to investors, leading experts to predict that this would be a logical step for Federal Way, although a sale or merger with a rival could also be on the cards.
