Weyerhaeuser announced today that it is closing its Albany plant producing engineered wood. The closure throws 70 people out of work. I'm going to hazard a guess on the reason. The market for engineered wood stinks right now because construction is just about dead and will become totally moribund as winter sets in. If they keep producing at a minimal level to keep the plant open for a hoped-for turnaround, though, the company gets taxed on its gross income, not net, so keeping a similar plant open in another state is more economic. What to do? The answer was announced today. Thanks M66-67! You certainly are tagging all those rich guys!
www.kgw.com/news/Weyerhaeuser-to-close-Albany--plant-101997658.html
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