Business Services Industry
Crown Pacific acquires western Washington sawmill
Business Wire, August 20, 1996
PORTLAND, Ore.--(BUSINESS WIRE)--Aug. 20, 1996--Crown Pacific Partners L.P. (NYSE:CRO) announced today the acquisition of the Garka Mill Co. Inc. sawmill located in Marysville, Wash.
The acquisition of the Garka mill is anticipated to close on Sept. 16, 1996, for $2.7 million. Crown Pacific plans on investing an additional $2 million in the mill to increase its efficiency and productivity and expand the dry kiln capacity.
Once the capital improvement program is complete, the mill will employ approximately 50 people, including personnel currently employed, and produce 50 MMBF of lumber annually. Crown Pacific will supply the mill with logs from its 185,000 acres of timberland located in the Skagit Valley and the Olympic Peninsula of Washington state.
"This acquisition is very strategic to Crown Pacific," said Peter W. Stott, president and CEO. "It allows us to capture additional margins and cash flows from the timber harvested from our western Washington tree farms.
"The mill is centrally located between our Olympic and Hamilton Tree Farms and is situated on an inlet of the Puget Sound and adjacent to Interstate 5. In addition, the mill has had a history of producing high-quality lumber products targeted for both the domestic and export markets."
Crown Pacific is a leading integrated timber and forest products manufacturing partnership with extensive timber holdings and conversion facilities located in Oregon, Washington, Idaho and Montana.
Additional news releases may be obtained on the company's Internet home page at http://www.businesswire/cnn/cro.htm.>CONTACT: FINANCIAL --
Crown Pacific
Kelly E. Lang, 503/274-2300
or
MEDIA --
Harris Massey Herinckx
Fletcher C. Chamberlin, 503/295-1922
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Content provided in partnership with
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Design a commission plan that drives sales - Sales Commissions
Presented by American Express