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WILLAMETTE APPROVES PAPER MILL EXPANSION, INCREASES DIVIDEND

 WILLAMETTE APPROVES PAPER MILL EXPANSION, INCREASES DIVIDEND
 PORTLAND, Ore., Feb. 13 /PRNewswire/ -- Willamette Industries' (NASDAQ: WMTT) board of directors today approved a major modernization project for its Penntech paper mill in Johnsonburg, Penn. The project involves replacing an existing fiberline, the portion of the mill that pulps and bleaches fiber, with state-of-the-art equipment that will nearly triple the mill's pulping capacity.
 Willamette began an aggressive modernization program at the Penntech specialty fine paper mill shortly after Willamette acquired Penntech in May of 1990. When the fiberline project is completed in 1994, all major systems at the century-old facility will have been modernized.
 In other business, the board declared a dividend of 42 cents per share on Willamette's common stock, an increase of 5 percent over last quarter's dividend. This dividend is payable on March 13 to shareholders of record on Feb. 24.
 -0- 2/13/92
 /CONTACT: J. A. Parsons of Willamette Industries, 503-227-5581/
 (WMTT) CO: Willamette Industries ST: Oregon, Pennsylvania IN: PAP SU: DIV


LM -- SE010 -- 9875 02/13/92 15:34 EST
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Publication:PR Newswire
Date:Feb 13, 1992
Words:174
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