BOISE, Idaho, Feb. 5 /CNW/ -- Boise Inc. (NYSE: BZ), a leading
manufacturer of packaging products and communications papers, announced today
that the New York Stock Exchange ("NYSE") has accepted its business plan to
achieve compliance with NYSE listing standards. The plan included a
discussion of the operational initiatives that Boise Inc. implemented in 2008,
including the restructuring of the mill in St. Helens, Oregon, and the
projected impact of these initiatives on the Company's plan of operations for
"We are pleased our plan was accepted by the NYSE and will continue to
take proactive steps to improve our operating and financial performance," said
Alexander Toeldte, President and Chief Executive Officer of Boise Inc.
Boise Inc. received notice from the NYSE in November 2008 indicating it
was not in compliance with NYSE's listing standards, which require a 30-day
average market capitalization of at least $75 million and an average share
price of at least $1 per share.
On December 20, 2008, Boise Inc. submitted its plan of compliance to the
NYSE on a confidential basis. In a letter dated January 30, 2009, the NYSE
notified the Company that it has accepted the plan of compliance. The Company
has until May 2009 to comply with the share price standard and until May 2010
to comply with the market capitalization standard. The Company will be
subject to periodic review by the NYSE during this period.
About Boise Inc.
Headquartered in Boise, Idaho, Boise Inc. (NYSE: BZ) manufactures
packaging products and communications papers including corrugated containers,
containerboard, label and release and flexible packaging papers, imaging
papers for the office and home, printing and converting papers, newsprint, and
market pulp. Our entire team of approximately 4,350 employees is committed to
delivering excellent value while managing our businesses to sustain
environmental resources for future generations. Visit our website at
In this press release, all statements that are not purely historical
facts are forward-looking statements within the meaning of the Private
Securities Litigation Report Act of 1995. Specifically, all statements
regarding the Company's intentions with regard to meeting certain notification
and listing requirements of the NYSE are forward-looking statements. Although
the Company intends to cure the deficiencies and to return to compliance with
the NYSE continued listing requirements, there can be no assurance that it
will be able to do so. The Company assumes no obligation to update any
forward-looking statements. For the other risk factors associated with the
Company's business, please refer to the Company's filings with the SEC.
For further information:
For further information: media, Virginia Aulin, +1-208-384-7837, or
investor relations, Jason Bowman, +1-208-384-7456, both of Boise Inc. Web