MacBlo to sell fibreboard plants

Article Abstract:

MacMillan Bloedel Ltd. of Vancouver, BC, will sell its medium-density fibreboard facilities to Temple-Inland Inc. of Texas for C$160-million, as part of a restructuring. According to the company, part of the proceeds from the sale of its plants in Pembroke, Ontario and Clarion, PA, will be used to repay debts. Some of the proceeds will also go toward its plan to repurchase up to 11.2 million of its common shares over the next year. The sale of the plants to Tempe-Inland will give it added capacity and geographic presence.

Comment:

Will acquire MacMillan Bloedel's medium-density fibreboard facilities for C$160-million

United States, Asset sales & divestitures, Acquisitions & mergers, Facilities & equipment, Wood & Wood Products, Wood Product Manufacturing, Temple-Inland Inc., Article

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MacBlo boasts 100% profit gain

Article Abstract:

MacMillan Bloedel Ltd (MacBlo) CEO Tom Stephens revealed that the company increased its first-quarter earnings by over 100%. Speaking at the company's annual meeting in Vancouver, Stephens said that for the first quarter ended Mar 31, 1999, MacBlo earned $33 mil or 25 cents per share, compared with $16 mil or 12 cents for the same period in 1998. Company sales also hiked to $1.01 bil from $990 mil. Stephen attributed the profit gain to the strong performance of its solid wood group and its building division.

Sales, profits & dividends

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Big U.S. investment expected in B.C.'s troubled forest sector

Article Abstract:

Forest products conglomerate Louisiana-Paper Corp is expected to announce a multi-million dollar investment to build four plants in Chetwynd, in northeastern British Columbia. The plants would make oriented strandboard, a plywood substitute, laminated board lumber and other building materials. The investment would create 420 direct jobs in the province, which lost around 20,000 jobs in the forest products sector in the last two years.

Capital expenditures, Lousiana-Paper Corp.

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