Printer Friendly

FIBREBOARD TO EXPAND IN SKI BUSINESS

 CONCORD, Calif., April 19 /PRNewswire/ -- Fibreboard Corp. (AMEX: FBD) announced today that it has entered into a letter of intent to purchase the assets of Sierra Ski Ranch located in California. The proposed acquisition is subject to the negotiation of a definitive purchase agreement. The terms of the transaction were not disclosed.
 Sierra Ski Ranch, a popular ski area, is located in the Sierra Nevada Mountains near the south shore of Lake Tahoe in California. It consists of 2,000 acres of skiable terrain with 8 chair lifts and 38 downhill ski trails.
 John Roach, chairman and president of Fibreboard, said, "We are very enthusiastic about the acquisition of Sierra Ski Ranch. This ski area has a history spanning 25 years of successful operation, and we look forward to continuing the tradition of this well maintained and managed ski area. Fibreboard's strong operating performance currently generates more cash than is needed for investment in our existing operations. To further enhance shareholder value, we are evaluating acquisition opportunities in each of our three core businesses. This acquisition is a logical first step in that expansion and strategically complements our destination resort, Northstar-at-Tahoe, located on the north shore of Lake Tahoe. It will strengthen Fibreboard's position in the ski industry and further demonstrates our commitment to this segment of our business."
 Fibreboard Corp., headquartered in Concord, manufactures lumber, hardwood plywood, moulding and millwork, agricultural container components, precision molded industrial insulation and fireproofing materials. It also owns and operates Northstar-at-Tahoe, a ski resort and year-round vacation and conference center in California.
 -0- 4/19/93
 /CONTACT: Stephen L. DeMaria of Fibreboard, 510-686-0700/
 (FBD)


CO: Fibreboard Corp.; Sierra Ski Ranch ST: California IN: CST SU:

SG -- SF002 -- 7134 04/19/93 07:50 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 19, 1993
Words:290
Previous Article:EA SPORTS SIGNS BASKETBALL PHENOM SHAQUILLE O'NEAL TO MULTI-PRODUCT CONTRACT; FIRST GAMES TO BE AVAILABLE ON SEGA GENESIS & SUPER NES
Next Article:VISA STUDY REVEALS MOST CREDIT CARD OWNERS AWARE OF COMPETITION AMONG CARDS & WIDESPREAD AVAILABILITY OF GOOD DEALS ON INTEREST RATES & FEES
Topics:


Related Articles
FIBREBOARD ANNOUNCES RECORD 1992 EARNINGS FROM OPERATIONS
FIBREBOARD ACQUIRES SKI AREA
FIBREBOARD ANNOUNCES PROPOSED ASBESTOS SETTLEMENT
FIBREBOARD CORPORATION REJECTS POHLAD PROPOSAL
FIBREBOARD INCREASES REVOLVING CREDIT FACILITY TO $175 MILLION
FIBREBOARD ANNOUNCES AGREEMENT IN PRINCIPLE TO PURCHASE BEAR MOUNTAIN SKI RESORT ASSETS
FIBREBOARD ANNOUNCES ACQUISITION THAT WILL INCREASE VINYL SIDING MANUFACTURING CAPACITY BY 70 PERCENT
FIBREBOARD FINALIZES PURCHASE OF BEAR MOUNTAIN SKI RESORT ASSETS
FIBREBOARD SELLS WOOD PRODUCTS GROUP
FIBREBOARD ANNOUNCES NEW CREDIT FACILITIES

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters