Pope & Talbot Announces Temporary Shutdown of Two Lumber Mills
14 Agosto 2007 - 7:39PM
Business Wire
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.
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