SEATTLE, Nov 15, 2005 (BUSINESS WIRE) -- Plum Creek Timber Company, Inc. (NYSE:PCL) todayannounced that it has completed the purchase of 650,000 acres oftimberlands in Michigan from Escanaba Timber LLC. The signing of thepurchase agreement was previously announced on October 3, 2005.
The timberlands, which are certified to the Sustainable ForestryInitiative(R) (SFI) Standard, contain a diverse mix of timber speciesand age profiles, including mature mixed hardwood stands and coniferplantations. Plum Creek will continue to manage these forests to theSFI Standard, as it does all of its timberlands.
Plum Creek will sell a significant portion of the pulpwoodharvested from these lands to the NewPage Corporation Escanaba, Mich.,pulp and paper mill under a long-term supply agreement.
Plum Creek is one of the largest private timberland owners in thenation, with more than 8 million acres of timberlands in major timberproducing regions of the United States and 10 wood productsmanufacturing facilities in the Northwest.
SOURCE: Plum Creek Timber Company, Inc.
Plum Creek Timber Company, Inc., Seattle
Media: Kathy Budinick, 206-467-3620
Investors: John Hobbs, 1-800-858-5347