Champion International Corporation Sells a Portion of Its Vermont Forestlands to U.S. Fish & Wildlife Service.STAMFORD, Conn.--(BUSINESS WIRE)--July 23, 1999-- Champion International Corporation (NYSE NYSE See: New York Stock Exchange :CHA n. 1. Tea; - the Chinese (Mandarin) name, used generally in early works of travel, and now for a kind of rolled tea used in Central Asia. A pot with hot water . . . made with the powder of a certain herb called chaa, which is much esteemed. - Tr. J. ) announced today it has completed the sale of nearly 26,000 acres of land in northern Vermont to the U.S. Fish & Wildlife Service for approximately $6.5 million. This land is part of the approximately 300,000 acres of forestlands located in the States of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Vermont, and New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). that in December 1998 Champion announced it had agreed to sell to The Conservation Fund for $76.2 million. The Conservation Fund, a non-profit organization A non-profit organization (abbreviated "NPO", also "non-profit" or "not-for-profit") is a legally constituted organization whose primary objective is to support or to actively engage in activities of public or private interest without any commercial or monetary profit purposes. dedicated to protecting natural resources, created an alliance in Vermont with the U.S. Fish & Wildlife Service and other government agencies and philanthropic and conservation organizations to protect natural resources and wildlife on the land in Vermont to be purchased from Champion. Champion expects to complete the sale of its remaining 107,000 acres of land in Vermont during the third quarter of this year. Today, Champion also announced it has completed the donation to the U.S. Fish & Wildlife Service of the 76-acre Mollie mollie or molly, New World fish of the genus Mollienesia, in the same family as the guppy (see killifish). Mollies are found from the E and central United States to Argentina. Beattie Bog, located in the Nulhegan Basin in northeastern Vermont. This black spruce bog was designated by Champion as a Special Places in the Forest (TM) in 1997 and was named for the late Mollie Beattie, a former director of the U.S. Fish & Wildlife Service. Late last month, Champion completed the sale of 143,000 acres of forestlands in the State of New York to The Conservation Fund for approximately $46 million. On July 16, Champion completed the sale of 18,600 acres of forestlands in Coos County, New Hampshire Coos County (pronounced IPA: /ˈkoʊɒs/ with two syllables) is a county in the U.S. state of New Hampshire, including the whole of the state's northern panhandle. to The Conservation Fund for $3.75 million. In October of 1997, Champion announced its intention to divest several non-strategic product segments, facilities, and forestlands as part of its three-pronged strategy to maximize total shareholder return by focusing on strategic businesses, increasing profitability, and improving financial discipline. Champion International Corporation is an integrated forest products company with significant operations in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada, and Brazil. Champion is a major producer and distributor of coated and uncoated papers. The company's other products include market pulp, lumber and plywood, and selected paper for packaging. Champion has the responsibility for the sustainable management of approximately eleven million acres of forestlands supporting its manufacturing facilities. |
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