PORTLAND, Ore., Aug. 9 /PRNewswire/ -- Willamette Industries' (NYSE: WLL)
Board of Directors today authorized a share repurchase program of up to
ten million shares of Willamette's common stock. The share would be purchased
in the open market or block purchases or in privately negotiated purchases
from time to time depending upon market conditions. While Willamette does not
currently intend to initiate any repurchases under this program, the Board
authorized the program because it believes the company's stock is a good
long-term investment and to give management the flexibility to provide
additional liquidity for shareholders.
In other business, the board declared a quarterly dividend of $0.23 per
share, payable on September 14, 2001 to shareholders of record on
August 27, 2001.
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.
SOURCE Willamette Industries, Inc.
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Related links:
http://www.wii.com
Company News On-Call:
http://www.prnewswire.com/comp/971763.html
CONTACT:
Greg Hawley EVP & CFO, +1-503-273-5640, or
Cathy Dunn, VP Communications, +1-503-273-5642, both of
Willamette Industries, Inc.; or Paul Verbinnen, or David Reno, or
Jim Barron, all of Citigate Sard Verbinnen, +1-212-687-8080, for
Willamette Industries, Inc.
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