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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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February 12, 2016
16:34 EDTPCLWeyerhaeuser shareholders approve pending merger with Plum Creek Timber
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16:32 EDTPCLPlum Creek Timber shareholders approve merger with Weyerhaeuser
Plum Creek Timber (PCL) announced that stockholders overwhelmingly approved the proposed merger of Plum Creek and Weyerhaeuser (WY) at a special shareholder meeting held earlier. At the time the merger becomes effective, Plum Creek common stockholders will receive 1.60 Weyerhaeuser common shares for each share of Plum Creek common stock. At the special meeting, 122,615,534 shares were voted "FOR" the proposal to adopt the merger agreement with Weyerhaeuser, representing approximately 70% of the total shares outstanding as of the record date and approximately 99% of the shares voted on the matter. The company will file with the SEC a report on Form 8-K disclosing the final tabulation of the votes. Plum Creek and Weyerhaeuser have coordinated the quarterly dividend plan in accordance with the merger agreement so that no holder of either company will receive two dividends or fail to receive one dividend in the first quarter. The merger is expected to become effective so Plum Creek stockholders will become Weyerhaeuser shareholders of record in time to receive the upcoming Weyerhaeuser cash dividend. This dividend is payable on March 18 to shareholders of record of Weyerhaeuser common shares at the close of business on March 8.
February 5, 2016
10:05 EDTPCLPlum Creek Timber to host special shareholder meeting
Special Shareholder Meeting to vote on the merger with Weyerhaeuser Company will be held in Seattle, Washington on February 12 at 1 pm.
10:01 EDTPCLWeyerhaeuser to hold a special shareholder meeting
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