PORTLAND, Ore., Feb. 8 /PRNewswire/ -- Willamette Industries' (NYSE: WLL)
Board of Directors today declared a dividend of $.23 per share, a
9.5% increase over last quarter's $.21 per share.
Duane C. McDougall, Willamette CEO, said, "The increased dividend reflects
the Board's continued confidence in Willamette's long-term growth strategy and
our bright future as an independent company."
The dividend is payable on March 14, 2001 to shareholders of record on
February 26, 2001.
The board has also approved two environmental projects for the recently
acquired Port Wentworth, Georgia, pulp mill where systems are in compliance
with current federal regulations. A non-condensable gas collection and
incineration system will be installed to collect and burn odors at the mill
where systems are in compliance with current federal regulations. This will
improve air quality at the facility and bring it into compliance with federal
Cluster Rules that become effective in 2006.
In addition, the existing lime kiln scrubber will be replaced with an
electrostatic precipitator that will reduce air particulate. This improvement
will put the mill in compliance with federal MACT (maximum achievable control
technology) II standards when they are implemented at the end of 2003.
Willamette Industries is an integrated forest products company with
105 plants, located in the U.S., France, Ireland and Mexico. The company owns
1.7 million acres of forestland in the U.S. which are third-party certified as
sustainably managed under the Sustainable Forestry Initiative(SM) principles
of the American Forest and Paper Association. Willamette produces building
materials, composite wood panels, fine paper, office paper products, brown
papers, corrugated packaging and grocery bags.
BARRIE TO CONFIRM SAFE HARBOR STATEMENT
Forward-looking statements in this release are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements are subject to risks and uncertainties and
actual results could differ materially from those projected. Such risks and
uncertainties include, but are not limited to, the effect of general economic
conditions; the level of new housing starts and remodeling activity; the
availability and terms of financing for construction; competitive factors,
including pricing pressures; the cost and availability of wood fiber; the
effect of natural disasters on the Company's timberlands; construction delays;
risk of nonperformance by third parties; and the impact of environmental
regulations and other costs associated with complying with such regulations.
Please refer to Willamette Industries' Securities and Exchange Commission
filings for further information.
SOURCE Willamette Industries
 back to top
Related links:
http://www.wii.com
Company News On-Call:
http://www.prnewswire.com/comp/971763.html or fax,
800-758-5804, ext. 971763
CONTACT:
Greg Hawley, EVP & CFO, or 503-273-5640, or
Cathy Dunn, VP Communications, 503-273-5642, both of Willamette
Industries; or Paul Verbinnen, or David Reno, or Jim Barron, all
of Citigate Sard Verbinnen, 212-687-8080, for Willamette
Industries
|
