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July 10, 2014
18:54 EDTPCLPlum Creek Timber MDF facility resumes full production
Plum Creek Timber announced that production resumed this week at its Medium Density Fiberboard facility in Columbia Falls, Mont. following a fire that occurred on June 10. The No. 2 production line, which makes between 1/10th- ˝-inch continuous-press fiberboard, restarted June 30 and the company began shipping product to customers. The No. 1 production line resumes full production this week. It produces up to 1 1/2–inch fiberboard. A mechanical failure occurred, causing the fire, which was contained by local fire and safety departments. All employees were safely evacuated and there were no reported injuries. Tom Ray, vice president, northwest resources and manufacturing, said both the fire response and facility repair efforts were outstanding examples of people working together safely to support common goals, “We are very thankful that all the local fire and safety departments rallied to protect the people working at the facility.” He said that Plum Creek will donate $15,000 to be shared by all the response units that helped fight the fire. “Their work is greatly appreciated and we hope these funds support the important work they provide every day to our community,” he said. While production ceased at the facility for about three weeks following the fire, the company continued to ship product to customers from existing inventory. The 183 employees who work at the facility never lost a day of work. All were reassigned to carry out a variety of tasks, including fire watch, cleanup, and repair. In late June, many helped bring production back on line, assisting with equipment testing to ensure it worked safely and met manufacturing standards. Resumption of normal production concludes a month-long recovery and repair process, which relied on the efforts of both employees and contractors. Damages to the plant are estimated in the $8M-10M range. All major repairs to the facility have been completed, including repairs to computer systems, duct work and upgrades to the fire suppression systems. Scaffolding remains visible on the exterior to the plant while the company replaces sheet metal but these activities will not affect plant production. Plum Creek operates Montana manufacturing facilities that produce lumber, plywood and MDF. These products are sold to construction, retail, industrial and other specialty markets.
News For PCL From The Last 14 Days
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October 28, 2014
10:12 EDTPCLOn The Fly: Analyst Downgrade Summary
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07:53 EDTPCLPlum Creek Timber downgraded at BofA/Merrill
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06:02 EDTPCLPlum Creek Timber downgraded to Neutral from Buy at BofA/Merrill
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October 27, 2014
16:13 EDTPCLPlum Creek Timber to sell 165K acres of forestland to TNC for $134M
Plum Creek Timber announced it has reached an agreement to sell approximately 165,000 acres of Montana and Washington forestland to The Nature Conservancy, or TNC, for $134M. The sale is part of an effort to unite the checkerboard land ownership patterns of these lands. The agreement includes timberlands located at relatively high elevations with slower growing trees. While less productive for timber operations, these lands are desired for forest conservation, recreation, public access, and ecological protection. They are among the most ecologically diverse and intact biological systems remaining in the United States, including lands in the lower Blackfoot Valley near Missoula, Montana, located in the Crown of the Continent, and also lands on both sides of Interstate 90 between Snoqualmie Pass and Ellensburg in Kittitas County, Washington, located in the Heart of the Cascades.
16:11 EDTPCLPlum Creek Timber sees FY14 EPS $1.10-$1.20 , consensus $1.15
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16:11 EDTPCLPlum Creek Timber sees Q4 EPS 29c-39c, consensus 37c
During the fourth quarter, harvest levels in the Northern and Southern Resources segments are expected to be similar to third quarter levels. As a result, overall harvest levels for the year are expected to be in the 19.2M-19.5M ton range. Q4 Real Estate segment revenues are expected to be between $105M-$125M. These expectations include the Washington state portion of the conservation transaction with The Nature Conservancy. The Manufacturing segment is expected to report fourth quarter results similar to the third quarter excluding any gains recognized as part of the MDF reconstruction.
16:08 EDTPCLPlum Creek Timber reports Q3 EPS 34c, consensus 30c
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15:34 EDTPCLNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Amgen (AMGN), consensus $2.11; General Growth Properties (GGP), consensus 31c; Avalonbay (AVB), consensus $2.00; Hartford Financial (HIG), consensus 83c; Universal Health Services (UHS), consensus $1.36; XL Group (XL), consensus 63c; Masco (MAS), consensus 32c; Plum Creek Timber (PCL), consensus 30c; T-Mobile US (TMUS), consensus 2c; Cliffs Natural (CLF), consensus (3c); Twitter (TWTR), consensus 1c; American Capital Agency (AGNC), consensus 73c; DDR Corp. (DDR), consensus 30c; PartnerRe (PRE), consensus $3.66; Owens & Minor (OMI), consensus 47c; Manitowoc (MTW), consensus 42c; Compass Minerals (CMP), consensus 78c; Allison Transmission (ALSN), consensus 30c; Regal Entertainment (RGC), consensus 17c.

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