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Sierra Pacific Industries Halts Negotiations to Buy California Sawmill. (Originated from The Sacramento Bee, Calif.)
Knight Ridder/Tribune Business News, January, 1994 by Glover, Mark
Jan. 5--Sierra Pacific Industries, the state's largest timber company, has broken off negotiations to acquire Michigan-California Lumber Co. in El Dorado County, prompting concern about more than 250 sawmill jobs. Officials of SPI and Michigan-California would only confirm that talks broke off in late 1993. They did not elaborate.
"All I can tell you is, it just didn't work out," said Henry Alden, resource manager at the Michigan-California facility in Camino.
Alden said Tuesday that the sawmill currently operates with two shifts, but he was skeptical about future operations, given the collapse of the SPI deal and reductions in federal lumber supplies.
"The future is cloudy," he said. "The issue is (U.S.) Forest Service timber supply, and that's way...
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