NEW YORK, Jan. 5 /PRNewswire/ -- U.S. Timberlands Company, L.P.
(Nasdaq: TIMBZ) today announced several new appointments and internal
promotions as well as the election of two new members to the Board of
Directors, effective immediately.
The two new management appointments are Glenn A. Zane to Senior Vice
President and Acting Director of Operations and Greg G. Byrne to Vice
President and Chief Financial Officer. Mr. Zane will be based at the
Company's operations headquarters in Klamath Falls, Oregon. Mr. Byrne will
join corporate management in New York. Martin Lugas, General Manager, has
been promoted to Vice President, Timberland Operations and Jeff Groome,
Controller, to Corporate Controller, Western Operations. Walter L. Barnes,
Harvesting Manager, Kurt A. Muller, Planning Manager, Christopher J. Sokol,
Forestry Manager, and Robert A. Broadhead, Marketing Manager, have all been
promoted to Assistant Vice President in their respective divisions. John M.
Rudey, Chairman and Chief Executive Officer, has also assumed the role of
President.
Alan B. Abramson and William A. Wyman have been elected to the Board of
Directors of the General Partner, replacing Thomas A. Theobald and Spencer
Stuart.
John M. Rudey, Chairman, President and Chief Executive Officer of U.S.
Timberlands, said, "These management additions and promotions strengthen our
team and our ability to implement our acquisition strategy. Mr. Zane's
background and expertise will be valuable in reviewing and bringing to
fruition the expansion plans that are the foundation of U.S. Timberlands'
success. We expect his industry contacts and knowledge will help further the
Company's acquisition and joint venture programs. Mr. Byrne's previous
industry experience on the financial side will enhance the Company's ability
to implement various cost reduction and acquisition initiatives. These
changes will consolidate management into Klamath Falls and New York and result
in a more cost efficient structure.
Mr. Rudey continued, "Mr. Wyman's diverse strategic experience acquired
during his many years at Booz, Allen and Mr. Abramson's understanding of real
estate valuation and investments will undoubtedly provide valuable guidance
and direction for the Company's future growth and development."
Mr. Zane, 59, will focus on aggressively exploring and pursuing
acquisition opportunities. He replaces Robert E.L. Michie. Since 1974,
Mr. Zane has been a senior executive and past President at Mason, Bruce &
Girard, Inc., one of the world's leading consulting firms to the forest
products industry. His responsibilities there have included management of
properties, appraisal and inventory as well as sales, purchases and corporate
management. He has been involved as an advisor in numerous major land and
timber transactions. Mr. Zane remains a Director of Mason, Bruce & Girard.
Greg G. Byrne, 38, was previously Chief Financial Officer of P&M Cedar
Products, a California-based, privately held producer of cedar lumber
products. He replaces Allen E. Symington. Earlier positions included Vice
President, Finance & Strategic Planning at Fibreboard Wood Products Company
and Audit Manager and National Accounting & SEC Directorate Manager of Coopers
& Lybrand.
Martin Lugas, 57, is responsible for all land management and forestry
operations. He joined U.S. Timberlands upon completion of the Company's
acquisition from Weyerhaeuser in 1996. Mr. Lugas spent 28 years at
Weyerhaeuser, during which time he served as Forestry Manager and Timberlands
Manager.
Jeff Groome, 30, is responsible for accounting and controlling functions.
He replaces John McDowell. Prior to joining the Company in 1997, Mr. Groome
was a financial analyst with James River Corporation. Earlier in his career,
he was Controller of Ochoco Lumber Company and an Associate with Arthur
Anderson, LLP.
Walter L. Barnes, 56, is responsible for all solid wood logging and fiber
operations. Mr. Barnes was employed by Weyerhaeuser for 28 years and has
extensive experience managing different harvesting systems on both the East
and West sides of the Cascade Range.
Kurt A. Muller, 40, is responsible for all short, medium and long-term
harvest planning as well as operating and developing the inventory and GIS
systems. From 1982 to 1989, Mr. Muller was President of Woodland Consulting
Services, Inc. during which time he gained additional experience in
contracting forestry operations and forest land management as District
Forester. Mr. Muller was employed by Weyerhaeuser for eight years.
Christopher J. Sokol, 49, is responsible for forestry operations,
environmental relationships, harvest prescriptions and nursery/orchard
operations. Mr. Sokol was employed by Weyerhaeuser for 22 years and gained
additional experience in forest regeneration and timber sales while serving as
District Forester from 1982 to 1991.
Robert A. Broadhead, 47, is responsible for all log and stumpage
transactions. Mr. Broadhead was employed by Weyerhaeuser for 20 years and
gained additional experience in investing and planning while serving as
Planning Manager from 1981 to 1994.
William W. Wyman, 60, is a former President of the Management Consulting
Group of Booz, Allen & Hamilton. Mr. Wyman joined Booz Allen in 1965, where,
over the next 19 years, he counseled a variety of service, natural resources
and manufacturing companies on projects concerning strategy, profit
improvement and management organization. Mr. Wyman has served as a Director
of several companies including Donaldson, Lufkin & Jenrette, Belvedere
Reinsurance and SS&C Technologies. He is a graduate of Colgate University and
Harvard Business School.
Alan B. Abramson, 52, is President of Abramson Brothers, Incorporated, a
commercial real estate management and investment firm. Mr. Abramson a member
of the Bar of the States of New York and Connecticut and a member of the Board
of Directors of Datascope (Nasdaq: DSCP), Beth Israel Medical Center, The
Dalton School and the Federation Employment Guidance Services. He is a
graduate of Oberlin College and Columbia University School of Law.
U.S. Timberlands Company, L.P. owns 617,000 fee acres of timberland and
cutting rights on 3,000 acres of timberland containing total merchantable
timber volume estimated to be approximately 2.1 billion board feet in Oregon
east of the Cascade Range. U.S. Timberlands specializes in the growing of
trees and the sale of logs and standing timber. Logs harvested from the
timberlands are sold to unaffiliated domestic conversion facilities. These
logs are processed for sale as lumber, molding products, doors, millwork,
commodity, specialty and overlaid plywood products, laminated veneer lumber,
engineered wood I-beams, particleboard, hardboard, paper and other wood
products. These products are used in residential, commercial and industrial
construction, home remodeling and repair and general industrial applications
as well as a variety of paper products. U.S. Timberlands also owns and
operates its own seed orchard and produces approximately five million conifer
seedlings annually from its nursery, approximately half of which are used for
its own internal reforestation programs, with the balance sold to other forest
products companies.
Certain information discussed in this press release may constitute
forward-looking statements within the meaning of the federal securities law.
Although U.S. Timberlands believes that expectations reflected in such
forward-looking statements are based upon reasonable assumptions, it can give
no assurance that its expectations will be achieved. Forward-looking
information is subject to certain risks, trends and uncertainties that could
cause actual results to differ materially from those projected. Such risks,
trends and uncertainties include the highly cyclical nature of the forest
products industry, economic conditions in export markets, the possibility that
timber supply could increase if governmental, environmental or endangered
species policies change, and limitations on U.S. Timberlands' ability to
harvest its timber due to adverse natural conditions or increased governmental
restrictions. For a more complete description of factors which could impact
U.S. Timberlands and the statements contained herein, reference should be made
to U.S. Timberlands' filings with the Securities and Exchange Commission.
SOURCE U.S. Timberlands Company, L.P.
 back to top
Related links:
http://www.ustimberlands.com
Company News On-Call:
http://www.prnewswire.com/comp/128507.html or fax,
800-758-5804, ext. 128507
CONTACT:
John M. Rudey of U.S. Timberlands Company,
L.P., 212-755-1100; or Stefanie King of Edelman Financial,
212-704-8291, for U.S. Timberlands Company, L.P.
|
