CROWN PACIFIC ANNOUNCES PLANS FOR PORT ANGELES, WASH., MILL.PORTLAND, Ore.--(BUSINESS WIRE)--May 12, 1997--Crown Pacific Partners, L.P. (NYSE NYSE See: New York Stock Exchange :CRO) today announced plans to build a new $12 million high technology stud mill in Port Angeles Port Angeles (ăn`jələs), city (1990 pop. 17,710), seat of Clallam co., NW Wash., on Juan de Fuca Strait opposite Victoria, British Columbia; inc. 1890. , Wash. Construction of the new mill will begin after engineering studies are completed and final board approval is obtained. The mill will have the capacity of cutting eight- to 10-foot lengths, for both domestic and export markets. The exact site of the Port Angeles sawmill sawmill, installation or facility in which cut logs are sawed into standard-sized boards and timbers. The saws used in such an installation are generally of three types: the circular saw, which consists of a disk with teeth around its edge; the band saw, which is under consideration. The mill is expected to be completed by the summer of 1998. The Port Angeles mill will allow the company to enhance its operations and add value to a region where Crown Pacific's log supply currently exceeds its manufacturing capacity. In 1996, the company acquired more than 83,000 acres of timberlands in the Olympic Peninsula The Olympic Peninsula is the large arm of land in western Washington state that lies across Puget Sound from Seattle. It is bounded on the west by the Pacific Ocean, the north by the Strait of Juan de Fuca, and the east by Puget Sound and the Hood Canal. . Crown Pacific has approximately 4.7 billion board feet of timber holdings on 738,000 acres in the Pacific Northwest. Crown Pacific Partners Crown Pacific Partners, L.P. was a publicly traded partnership founded in 1988 which at its peak owned about 800,000 acres (3,000 km²) of timberland, half in Oregon and the rest in Washington, Idaho, and Montana. , L.P. is a leading integrated forest products company with extensive timber holdings and conversion facilities located in Oregon, Washington, Idaho and Montana. Additional information and news releases may be obtained from Crown Pacific's Internet page at www.crownpacificpartners.com or by calling the partnership directly. CONTACT: Financial Inquiries: Media Inquiries: Mark B. Conan Robert S. (Bob) Hess Crown Pacific Crown Pacific 503/274-2300 503/274-2300 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion