Pope & Talbot Announces Continued Operation of the Midway Sawmill
January 25 2006 - 2:18PM
Business Wire
Pope & Talbot, Inc. (NYSE:POP) today announced that it would be
operating the Midway sawmill and dry kilns on a one-shift basis
beyond the previously announced closure date of March 31, 2006. The
Company is continuing with its plan to expand and modernize its
Grand Forks sawmill, which is expected to produce 255 million board
feet of lumber, as well as plane an additional 95 million board
feet of lumber produced at Midway. The logs to support the
additional Midway production will come from purchases outside the
region, consistent with the Company's past practices. "Higher
lumber prices and lower duty rates have allowed us to reconsider
our Midway closure plans," stated Michael Flannery, Chairman and
Chief Executive Officer. "We are hopeful that these plans will
lessen the impact on our employees, the Village of Midway and
provide additional lumber for our customers." Pope & Talbot is
dedicated to the pulp and wood products businesses. The Company is
based in Portland, Oregon and traded 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, please check the website
www.poptal.com.
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