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Article: Plum Creek buys Maine timberland
- Article from:
- Missoulian
- Article date:
- October 7, 1998
- Author:
CopyrightCopyright The Missoulian Oct 07, 1998. Provided by ProQuest LLC. (Hide copyright information)
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Plum Creek Timber Co. signed an agreement Tuesday to buy 905,000 acres of forest land in central Maine, giving the company property in each of the major timber-producing regions of the country -- 3.3 million acres in all.
Billed as the "most attractive timber property in the Northeast" by Plum Creek president Rick Holley, the Maine acreage is owned by Sappi Fine Paper North America, a subsidiary of the South Africa-based Sappi Limited.
Purchase price for the 905,000 acres is $180 million.
"The addition of these timberlands fulfills one of our key strategic objectives: to acquire timberlands," said Bill Brown, Plum Creek's vice president for business development. "We are now represented ...