BOISE, Idaho, May 18 /PRNewswire/ -- Boise Cascade Company announced today
that it is withdrawing its previously announced plans to go public, citing
adverse market conditions. The company and its equity sponsor, Madison
Dearborn Partners, had hoped to sell 16,000,000 shares to the public and begin
trading on the New York Stock Exchange as early as this week.
"When we started down this path, market conditions were obviously much
different than they are at this time," said Boise Chief Executive Officer Tom
Stephens. "We concluded that it was in the best interest of our existing
shareholders not to proceed in the current climate. This was a difficult
decision after so much effort had been put in, but it was the right course of
action. Now, we are going to rededicate our efforts to running our businesses
and executing our business strategies."
About Boise Cascade
Boise, headquartered in Boise, Idaho, manufactures engineered wood
products, plywood, lumber, and particleboard and distributes a broad line of
building materials, including wood products manufactured by the company.
Boise also manufactures a wide range of specialty and premium papers,
including imaging papers for the office and home and papers for
pressure-sensitive applications, as well as printing and converting papers,
containerboard and corrugated boxes, newsprint, and market pulp. Visit
Boise's website at http://www.bc.com.
SOURCE Boise Cascade Company
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Related links:
http://www.bc.com
CONTACT:
Media, Mike Moser, +1-208-384-6016, or cell,
+1-208-867-4346, or Investors, Rob McNutt, +1-208-384-7023, both
of Boise Cascade Company
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