Pope & Talbot Announces Consolidation of Boundary Sawmill Operations
29 October 2005 - 2:53AM
Business Wire
Pope & Talbot, Inc. (NYSE: POP) today announced the
consolidation of its two Boundary sawmill operations to one
facility in Grand Forks, B.C. The recently modernized mill is
expected to produce 255 million board feet of dimension lumber
annually beginning in April 2006. It is anticipated that while
there will be some job reductions, senior qualified employees will
be transferred and certain equipment will be relocated from the
Midway, B.C. mill site late in the first quarter of 2006. "This
consolidation allows the Company to balance the economically
available timber supply and effectively utilize the capital
invested in the Grand Forks sawmill," stated Michael Flannery,
Chairman and Chief Executive Officer. "While we diligently sought
additional timber resources, the economics did not allow us to
continue operating two independent sawmills in the same region. The
modernized Grand Forks sawmill will be highly efficient and
competitive." This press release includes statements regarding the
Company's expectations regarding future production at the Grand
Forks sawmill and the time by which that production level will be
achieved. Such statements are forward-looking statements and are
based on present information the Company has related to the
progress of the mill upgrade. Investors are cautioned that such
forward-looking statements are subject to an inherent risk that
actual results may differ materially from such forward-looking
statements. Factors that could cause actual production not to reach
expected production levels in the stated time frame include
unanticipated delays in delivery or installation of new equipment
and startup problems with new equipment and mill configurations..
Further, investors are cautioned that the Company does not assume
any obligation to update forward-looking statements based on
unanticipated events or changed expectations. Pope & Talbot is
dedicated to the pulp and wood products businesses. The Company is
based in Portland, Oregon and trades on the New York stock exchange
under the symbol POP. Pope & Talbot was founded in 1849 and
produces pulp and softwood lumber in the U.S. and Canada. Markets
for the Company's products include: the U.S.; Europe; Canada; South
America; Japan; and other Pacific Rim countries. For more
information on Pope & Talbot, Inc., please check the website:
www.poptal.com. -30-
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