Pope & Talbot, Inc (Pink Sheets:PTBT) today announced a two week shutdown for saw mills located in Grand Forks, B.C., Castlegar, B.C. and Fort St. James, B.C. The mills, producers of high-quality softwood lumber products, will be shut-down for two weeks beginning October 15th to reduce finished goods inventories.
Pope and Talbot CEO Harold Stanton said the move was necessary due to the falling prices of softwood lumber products and the continued strengthening of the Canadian Dollar. “While unfortunate, the shutdowns are a necessary step to ensure the Company’s profitability during these difficult times,” said Stanton. “Moving forward, we will continue to make adjustments as the market dictates.”
Pope & Talbot is a pulp and wood products business. The Company is based in Portland, Oregon and trades on the Pink Sheets under the symbol PTBT. Pope & Talbot was founded in 1849 and produces market pulp and softwood lumber at mills in the US and Canada. Markets for the Company’s products include the US, Europe, Canada, South America and the Pacific Rim. For more information, please check our website and www.poptal.com.
Contacts:
Mark Rossolo, 503-274-405
