Potlatch to Take Downtime at Wood Products Facilities
Potlatch Corporation (NYSE: PCH) today announced that its manufacturing subsidiary will be taking downtime at three sawmills, one plywood plant and one particleboard plant due to continuing poor market conditions.
The Lewiston, Idaho, sawmill will be down November 10 and will resume production on December 1. The Gwinn, Michigan, stud mill will be down November 17 through 30 and will resume production on December 1. The St. Maries, Idaho, plywood plant will be down November 10 through 14. Production will resume on November 17, stop again November 24, and resume regular production on December 1. The entire Bemidji, Minnesota, stud mill, which already took one shift down October 27 through November 7, will be down November 10 through 14 and will resume production on November 17. The Post Falls, Idaho, particleboard plant is currently down and will remain down until orders increase.
Potlatch owns approximately 1.7 million acres of forestland in Arkansas, Idaho, Minnesota and Wisconsin, and operates 12 manufacturing facilities that produce lumber and panel products and bleached pulp products, including paperboard and tissue. The company, which employs 3,600 people, also conducts a land sales and development business. Potlatch, a verified forest practices leader, is committed to providing superior returns to stockholders through long-term stewardship of its resources.
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding downtime at its manufacturing facilities. These forward-looking statements are based on current expectations, estimates, assumptions and projections that are subject to change, and actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially include those risks and uncertainties described from time to time in the company’s public filings with the Securities and Exchange Commission. The company does not undertake to update any forward-looking statements.