Business Services Industry
Crown Pacific announces president and chief executive officer buys units
Business Wire, Dec 6, 1995
PORTLAND, Ore.--(BUSINESS WIRE)--Dec. 6, 1995--Crown Pacific L.P. (NYSE:CRO) today announced that it has been advised by Peter W. Stott, its president and chief executive officer, that he will purchase up to 50,000 Crown Pacific Partners L.P. common units from time to time in the open market, subject to market conditions.
The units will be held by his wholly owned transportation company, Market Transport Ltd.
"I believe Crown Pacific's units are significantly undervalued," said Peter W. Stott. "The current yield of approximately 11.5 percent is significantly above many other competing investments. In addition, the 30-year treasury bond is trading near 6 percent, which should provide strength for the domestic housing market and lead to improvements in lumber prices."
Crown Pacific is a leading timber and forest products manufacturing partnership with extensive timber holdings and eight conversion facilities located in Oregon, Washington, Idaho and Montana.
CONTACT: Crown Pacific
Kelly E. Lang, 503/274-2300
or
Harris Massey Herinckx
Fletcher C. Chamberlin, 503/295-1922
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