Plum Creek Timber Company Inc. (NYSE: PCL) reported that its first quarter earnings fell 46.4% to $30 million compared to the first quarter of 2013. Revenues declined as well by 6.8% to $317 million.
West Fraser continues its acquisition spree with the purchase of Bibler Brothers Lumber and Buchanan Lumber, following on the heels of last month's purchase of Travis Lumber.
The company announced earnings of $118 million on sales of $833 million in the fourth quarter of 2013, and $349 million on sales of $3,47 billion for the entire year 2013.
SierraPine has entered into an agreement with Flakeboard America Limited, a US subsidiary of Arauco, for the sale of its western operations, including particleboard mills in Springfield, OR and Martell, CA and an MDF mill in Medford, OR.
Today Flakeboard America Limited, a US subsidiary of Arauco, has agreed to buy the western US panel assets of SierraPine, a California limited partnership, consisting of two particleboard plants located in California and Oregon, and an MDF plant in Oregon.
Arauco subsidiary Flakeboard America Ltd. announced it will buy the western U.S. panel assets of SierraPine. In related news, SierraPine announced it will close its remaining mill in Adel, GA.
ARAUCO has resumed plywood operations at its Nueva Aldea Industrial Forestry Complex plant approximately two years after a devastating forest fire destroyed the facility.
SierraPine becomes the first particleboard and MDF manufacturer in North America to complete a Health Product Declaration (The HPD) with SCS Global Services for its specialty products.