Pope & Talbot

October 28, 2005 12:53 ET

Pope & Talbot Announces Consolidation of Boundary Sawmill Operations

PORTLAND, Ore.--(CCNMatthews - Oct 28, 2005) -

Pope & Talbot, Inc. (NYSE: POP) today announced the consolidation of its two Boundary sawmill operations to one facility in Grand Forks, B.C. The recently modernized mill is expected to produce 255 million board feet of dimension lumber annually beginning in April 2006. It is anticipated that while there will be some job reductions, senior qualified employees will be transferred and certain equipment will be relocated from the Midway, B.C. mill site late in the first quarter of 2006.

"This consolidation allows the Company to balance the economically available timber supply and effectively utilize the capital invested in the Grand Forks sawmill," stated Michael Flannery, Chairman and Chief Executive Officer. "While we diligently sought additional timber resources, the economics did not allow us to continue operating two independent sawmills in the same region. The modernized Grand Forks sawmill will be highly efficient and competitive."

This press release includes statements regarding the Company's expectations regarding future production at the Grand Forks sawmill and the time by which that production level will be achieved. Such statements are forward-looking statements and are based on present information the Company has related to the progress of the mill upgrade. Investors are cautioned that such forward-looking statements are subject to an inherent risk that actual results may differ materially from such forward-looking statements. Factors that could cause actual production not to reach expected production levels in the stated time frame include unanticipated delays in delivery or installation of new equipment and startup problems with new equipment and mill configurations.. Further, investors are cautioned that the Company does not assume any obligation to update forward-looking statements based on unanticipated events or changed expectations.

Pope & Talbot is dedicated to the pulp and wood products businesses. The Company is based in Portland, Oregon and trades 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, Inc., please check the website: www.poptal.com.


Contact Information

  • Pope & Talbot, Inc.
    Richard K. Atkinson, 503-228-9161