POPE & TALBOT ANNOUNCES SETTLEMENT OF STRIKE AT RANSOM, PA, TISSUE MILL
The strike, which had been over economic and work-rule issues, began on April 29, 1995. It had been particularly disruptive to customers for the Company's broad range of private label consumer tissue products because of supply constraints from other manufacturers in this segment of the tissue market.
Peter T. Pope, Chairman & Chief Executive officer, stated "We are pleased to have these very difficult negotiations behind us, and look forward to quickly resuming full service to customers who have been inconvenienced by the strike." Mr. Pope continued, "Costs from the strike have been a major reason for Pope & Talbot's operating losses this year". Mr. Pope concluded, "We are encouraged about the outlook for our tissue business because we will be resuming more cost-effective production at a time when tissue-industry fundamentals also seem to be improving".
Pope & Talbot, Inc. is a publicly held, Portland, Oregon-based paper, pulp and wood products company traded on the NYSE. Pope & Talbot was founded in 1849 and has operations throughout the United States and in Canada.
/CONTACT: C. Lamadrid of Pope & Talbot, 503-228-9161/
CO: Pope & Talbot, Inc. ST: Oregon, Pennsylvania IN: PAP SU:
JC-JL -- SETU004 -- 4711 12/05/95 12:29 EST
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|Date:||Dec 5, 1995|
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