Weyerhaeuser Company owns and manages timberland across the United States, growing and harvesting trees that it sells as logs to sawmills and other wood products manufacturers, along with operating its own wood products manufacturing facilities. As one of the largest private timberland owners in the country, the company's land holdings represent both a renewable natural resource business and a substantial real estate asset, since timberland can be harvested repeatedly over long growth cycles while also holding underlying land value. Weyerhaeuser's wood products business converts some of its harvested timber into lumber, oriented strand board and other building materials, capturing additional margin beyond simply selling raw logs to third-party mills. The company's revenue and profitability are closely tied to housing construction activity, since lumber and other wood products demand rises and falls with new home building and renovation activity across the residential construction industry.