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PLUM CREEK ANNOUNCES SIGNING OF DEFINITIVE AGREEMENT TO PURCHASE CHAMPION'S MONTANA TIMBERLANDS

 SEATTLE, Sept. 3 /PRNewswire/ -- Plum Creek Timber Co., L.P., (NYSE: PCL) announced today that it had signed a definitive agreement with Champion International Corp. (NYSE: CHA) to purchase Champion's 870,000-acre timberland holding in western Montana. The company also announced that it had entered into a definitive 10-year contract to provide approximately one billion board feet of logs to Stimson Lumber Co.
 The timberland acquisition, which has been under negotiation for several months, will be for approximately $260 million. Although the acquisition is still subject to a number of conditions, it is expected to close around Nov. 1, 1993. The log supply agreement is contingent on the closing of the timberland acquisition.
 Plum Creek is an integrated forest products company with timberlands and mills located in the Pacific Northwest.
 -0- 9/3/93
 /CONTACT: Sharon Kanareff, 800-535-0631, or Charlie Grenier, 406-892-6201, both of Plum Creek Timber Co., L.P./
 (PCL CHA)


CO: Plum Creek Timber Co., L.P.; Champion International Corp.; Stimson
 Lumber Co. ST: Washington, Montana IN: PAP SU: TNM


IC-JH -- SE007 -- 9015 09/03/93 20:09 EDT
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Publication:PR Newswire
Date:Sep 3, 1993
Words:181
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