PORTLAND, Ore., July 20 /PRNewswire/ -- Willamette Industries (NYSE: WLL)
today announced that it has reached an agreement with the U.S. Department of
Justice resolving Clean Air Act issues relating to some of Willamette's
composite panel and plywood plants.
"We have been cooperating with federal agency representatives for the past
two years to resolve certain historic air permit questions," said
Duane McDougall, Willamette's chief executive officer. "As part of the
settlement agreement we will install air emission controls that are well
beyond what is required and are the best available today. Our goal has always
been to minimize our impact on the environment and this agreement is
consistent with that goal, positioning us well to meet future air quality
requirements."
During the discussions, the Department of Justice and Willamette's
environmental staff reviewed nearly 20 years of air permitting history. The
review was designed to determine whether Willamette applied for the
appropriate air permits at the time it modernized its plants. "When we
modernized our plants, our environmental staff worked with state agencies on
permit issues and both the states and Willamette believed our operations were
appropriately permitted. The U.S. Environmental Protection Agency revisited
these decisions based on a revised interpretation of long-established
standards and practices."
Willamette has agreed to install emission control devices that destroy
volatile organic compounds at 11 facilities. Further, the company has agreed
to pay an $11 million fine, fund $8 million in supplemental environmental
projects that will further reduce emissions and benefit communities near
Willamette facilities, and install $28 million in air emission control
equipment. "This agreement is consistent with those reached between the
Department of Justice and other companies in our industry," McDougall noted.
"We understand EPA's need to create a level playing field for companies that
have already settled their issues related to this initiative and we agreed to
pay a fine and install controls consistent with previous settlements."
Willamette Industries is an integrated forest products company with
107 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.
SOURCE Willamette Industries, Inc.
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CONTACT:
media, Cathy Dunn, 503-273-5642, or analysts,
E. Jane Sinnema, 503-721-8642, both of Willamette Industries,
Inc.
NOTE TO EDITORS: A full copy of this release, as well as other
company news, is available at http://www.wii.com
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