PORTLAND, Ore., Jan. 13 /PRNewswire/ -- On April 1, 1999, Willamette
Industries (NYSE: WLL) will permanently shut down the #3 paper machine at its
Kingsport, Tennessee pulp and paper mill. The machine makes 50,000 tons of
coated one side (C1S) paper and forms bond annually. Willamette will take a
$5 million pretax charge against earnings during the fourth quarter of 1998 to
account for the closure.
The paper machine, built in 1939, is too small to effectively compete in a
shrinking market. It is Willamette's only C1S machine, and therefore not part
of its core business. The on-site woodyard operation will also close because
it is outdated, inefficient and expensive to maintain. Layoffs will affect
150 of the 570 employees working at the site.
Willamette Industries Inc. is a vertically integrated forest products
company with more than 100 manufacturing facilities in the United States,
Ireland, France and Mexico. Willamette owns 1.7 million acres of timberland
in the U.S. and produces fine paper products, corrugated containers and
building materials.
SOURCE Willamette Industries, Inc.
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CONTACT:
Catherine Dunn for Willamette Industries,
503-273-5642
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