PORTLAND, Ore., April 3 /PRNewswire/ -- Willamette Industries (NYSE: WLL)
has received its environmental and building permits to proceed immediately
with an approximately $80 million project to modernize its SurePine
particleboard plant in Simsboro, La.
The project was approved by Willamette's Board of directors on
August 3, 2000, pending completion of the proper permits.
The project replaces 30-year-old equipment with the most
technologically-advanced equipment available. The technology employed and the
scope of the new plant allow production costs to be reduced substantially
below the norm of the industry while increasing product quality to levels that
meet the future expectations of the market. The plant will also meet current
and expected future environmental requirements.
Particleboard is used in all types of furniture such as tables, desks,
kitchen cabinets and display units.
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. and manages it sustainably to
produce building materials, composite wood panels, fine paper, office paper
products, corrugated packaging and grocery bags.
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.
NOTE: A full copy of this release and other company news is available at
http://www.wii.com or by fax at 800-758-5804 -- code 971763
SOURCE Willamette Industries
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http://www.wii.com
Company News On-Call:
http://www.prnewswire.com/comp/971763.html or fax,
800-758-5804, ext. 971763
CONTACT:
Cathy Dunn, VP Communications of Willamette
Industries, 503-273-5642
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