NEW YORK, Aug. 10 /PRNewswire/ -- U.S. Timberlands Company, L.P.
(Nasdaq: TIMBZ) announced today that Greg G. Byrne, Vice President and Chief
Financial Officer has been named Senior Vice President and Chief Operating
Officer of Fiber Resource Services, LLC, an affiliate organized to pursue
innovative recovery methods for small diameter trees and fiber not presently
being utilized in the logging process and to develop a high-speed small log
recovery facility as a joint venture with a third party operator.
The Company also named Thomas C. Ludlow as Vice President and Chief
Financial Officer. Mr. Ludlow was previously CFO of Forest Systems, LLC and
previously Director and Head of the North American Forest Products Group,
Deutsche Morgan Grenfell (now Deutsche Bank N.A.).
U.S. Timberlands Company, L.P. and its affiliates own 671,000 fee acres of
timberland and cutting rights on 3,700 acres of timberland containing total
merchantable timber volume estimated to be approximately 2.5 billion board
feet in Oregon and Washington east of the Cascade Range. U.S. Timberlands
specializes in the growing of trees and the sale of logs and standing timber.
Logs harvested from the timberlands are sold to unaffiliated domestic
conversion facilities. These logs are processed for sale as lumber, molding
products, doors, millwork, commodity, specialty and overlaid plywood products,
laminated veneer lumber, engineered wood I-beams, particleboard, hardboard,
paper and other wood products. These products are used in residential,
commercial and industrial construction, home remodeling and repair, and
general industrial applications, as well as a variety of paper products. U.S.
Timberlands also owns and operates its own seed orchard and produces
approximately five million conifer seedlings annually from its nursery,
approximately half of which are used for its own internal reforestation
programs, with the balance sold to other forest products companies.
Certain information discussed in this press release may constitute
forward-looking statements within the meaning of the federal securities law.
Although U.S. Timberlands believes that expectations reflected in such
forward-looking statements are based upon reasonable assumptions, it can give
no assurance that its expectations will be achieved. Forward-looking
information is subject to certain risks, trends, and uncertainties that could
cause actual results to differ materially from those projected. Such risks,
trends and uncertainties include the highly cyclical nature of the forest
products industry, economic conditions in export markets, the possibility that
timber supply could increase if governmental, environmental or endangered
species policies change, and limitations on U.S. Timberlands' ability to
harvest its timber due to adverse natural conditions or increased governmental
restrictions. For a more complete description of factors which could impact
U.S. Timberlands and the statements contained herein, reference should be made
to U.S. Timberlands' filings with the United States Securities and Exchange
Commission.
SOURCE U.S. Timberland Company, L.P.
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Related links:
http://www.ustimberlands.com
CONTACT:
Thomas C. Ludlow, Chief Financial Officer of
U.S. Timberlands Company, 212-755-1100
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