PORTLAND, Ore., April 20 /PRNewswire/ -- Willamette Industries'
(NYSE: WLL) board of directors today declared a dividend of $.18 per share on
Willamette's common stock, an increase of 12.5% over last quarter's dividend
of $.16 per share. The dividend is payable on June 14, 1999, to shareholders
of record on May 31, 1999.
The board approved construction of a new corrugated container plant near
Phoenix, Arizona, and the rebuild of a 1950s-vintage corrugator at the
company's Compton, California, container plant. Both will help expand
Willamette's presence in agricultural markets in the Southwest and boost the
company's internal demand for packaging papers.
The board also approved the construction of a sawmill at the site of the
company's plywood plant in Chester, South Carolina. The mill will use the
abundant supply of small pine sawlogs available in the area to make narrow
dimension lumber.
In other business, the board elected two new officers. Michael J. Bacon,
59, was named vice president in charge of the company's Business Forms
Division. He replaces Ronald L. Stover, 63, who has announced plans to
retire in May after a 31-year career with Willamette. Bacon has been with
Willamette for 32 years, having held management positions in the paper mills,
corporate and corrugated container divisions before moving to the Business
Forms Division in 1984.
Richard L. Thomas, 46, was elected vice president of business and
converting papers. Thomas has been with Willamette since 1992, most recently
as sales manager for business and converting papers. Both Thomas and Bacon
are located in the company's Eastern regional office in Ft. Mill, South
Carolina.
Willamette Industries is an integrated forest products company with
100 plants, located in the U.S., Ireland, France 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.
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:
Catherine Dunn of Willamette Industries,
503-273-5642
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