Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASDAQ 4,095.52 9.29 0.23%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,516.27 98.74 0.68%
TOPIX 1,173.37 6.78 0.58%
HANG SENG 22,760.24 64.23 0.28%

Plum Creek Invests in Natural Resource Assets in South Carolina



  Plum Creek Invests in Natural Resource Assets in South Carolina

Business Wire

SEATTLE -- January 17, 2013

Plum Creek Timber Company, Inc., (NYSE:PCL) today announced it has acquired an
interest in approximately 144 million tons of production at four quarries from
Vulcan Materials Company (NYSE: VMC) for $75 million. The quarries are located
near the Greenville and Spartanburg, South Carolina markets. Beginning in
January 2013, Plum Creek expects to receive royalty payments from the
production and sale of the crushed stone from the quarries for approximately
25 years.

“This is an attractive, cash-accretive investment in a familiar natural
resource asset for Plum Creek,” said Rick Holley, president and chief
executive officer of Plum Creek. “The investment adds to our existing
construction materials royalty streams, and the quarries will continue to be
owned and operated by Vulcan, a leader in the industry. We are optimistic that
the favorable growth prospects for aggregate demand in these markets will
enhance future earnings potential.”

Plum Creek is one of the largest landowners in the nation and the most
geographically diverse, with approximately 6.4 million acres of timberlands in
major timber producing regions of the United States and wood products
manufacturing facilities in the Northwest. For more information on Plum Creek,
visit www.plumcreek.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of
the Private Litigation Reform Act of 1995 as amended. Some of these
forward-looking statements can be identified by the use of forward-looking
words such as "expects" and "will." The accuracy of such statements is subject
to a number of risks, uncertainties and assumptions including, but not limited
to, the demand for construction materials, operational risks and the state of
the general economy. It is likely that if one or more of the risks
materializes, or if one or more assumptions prove to be incorrect, the current
expectations of Plum Creek and its management will not be realized.
Forward-looking statements are not guarantees of performance, and speak only
as of the date made, and neither Plum Creek nor its management undertakes any
obligation to update or revise any forward-looking statements.

Contact:

Plum Creek Timber Company, Inc.
Investors:
John Hobbs, 1-800-858-5347
or
Media:
Kate Tate, 1-888-467-3751
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement