SEATTLE--(BUSINESS WIRE)--Feb. 18, 2009-- Plum Creek Timber Company, Inc., (NYSE:PCL) today announced it completed the second phase of its previously announced sale of western Montana forestland to The Nature Conservancy and The Trust for Public Land. Plum Creek received $250 million in cash for approximately 112,000 acres of Montana forestlands in the second phase of the three-phase transaction. The third, and final, phase of the transaction, covering approximately 70,000 acres is scheduled to complete during the fourth quarter of 2010 and is valued at approximately $89 million.
Plum Creek is the largest and most geographically diverse private landowner in the nation with more than 7 million acres of timberlands in major timber producing regions of the United States and 10 wood products manufacturing facilities in the Northwest.
This press release contains a forward-looking statement within the meaning of the Private Litigation Reform Act of 1995, as amended, regarding the scheduled completion of the final phase of the transaction described herein. The accuracy of this statement is subject to a number of risks, uncertainties and assumptions, and if one or more risks materialize, or if one or more assumptions prove incorrect, Plum Creek’s expectations may not be realized. Forward-looking statements are not guarantees of performance, and speak only as of the date made, and neither Plum Creek nor its management undertakes any obligation to update or revise any forward-looking statements.
Source: Plum Creek Timber Company, Inc.
Plum Creek Timber Company, Inc.
John Hobbs, 1-800-858-5347
Kathy Budinick, 1-888-467-3751