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CHESAPEAKE WOOD TREATING SIGNS LETTER OF INTENT WITH A.C. DUTTON LUMBER

 RICHMOND, Va., Feb. 18 /PRNewswire/ -- Chesapeake Corporation (NYSE: CSK) today announced that its wholly owned subsidiary Chesapeake Wood Treating Co., has signed a letter of intent with A.C. Dutton Lumber Corporation for the sale of its Fredericksburg, Va., North East, Maryland and Stockertown, Pa., wood treating facilities.
 J. Carter Fox, president and chief executive officer, commented: "The sale of these three plants, which produced the majority of the sales volume in our wood treating business, will substantially accomplish our objective of reducing our involvement in the treated wood products business to an appropriate level so that we can focus on our three primary businesses -- tissue, kraft products and packaging.
 "Upon completion of the announced sale, we will combine the remaining wood treating operations with Chesapeake Forest Products' lumber division in a new business for all our wood products activities. The new business will be a wholly owned subsidiary of Chesapeake Forest Products, and its manager, Mike Sloane, will report to Jack King, vice president of Chesapeake Forest Products. The organization of the new company will enable its management and employees to further integrate our wood products operations and will allow us to provide improved support and service to our customers."
 Chesapeake Corporation, a Fortune 500 company headquartered in Richmond, is a paper and packaging company. Chesapeake's primary businesses are tissue and kraft paper products and packaging. Other businesses include consumer tissue products, land development and wood products.
 -0- 2/18/93
 /CONTACT: Andrew J. Kohut, chief financial officer, Chesapeake Corporation, 804-697-1153/
 (CSK)


CO: Chesapeake Corporation; Chesapeake Wood Treating Co.; A.C.
 Dutton Lumber Corporation ST: Virginia IN: PAP SU:


MH -- DC008 -- 7730 02/18/93 09:23 EST
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Publication:PR Newswire
Date:Feb 18, 1993
Words:279
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