Grand Forks and Castlegar Saw Mills to Shut Down for Two Weeks Due to
PORTLAND, ORE., August 14 /CNW/ - Pope & Talbot, Inc (NYSE: POP) today
announced a two week shutdown for saw mills located in Grand Forks, B.C. and
Castlegar, B.C. The mills, producers of high-quality softwood lumber products,
will be shut down beginning August 20th through September 3rd to reduce
finished goods inventories.
Pope and Talbot CEO Harold Stanton said the move was necessary due to the
falling prices of softwood lumber products brought on by the downturn in the
US housing market. "The poor softwood lumber market has led to a situation
where it is not profitable for us to run at normal capacity," said Stanton.
"Moving forward, we will continue to make adjustments as the market dictates."
Pope & Talbot is a pulp and wood products business. 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 market pulp and softwood
lumber at mills in the US and Canada. Markets for the Company's products
include the US, Europe, Canada, South America and the Pacific Rim. For more
information, please check our website and www.poptal.com.
For further information:
For further information: Pope & Talbot, Inc Mark Rossolo, 503-274-4054