Plum Creek Completes Purchase of Southern Timberlands and Interest in South
Carolina Development Lands
SEATTLE -- December 6, 2013
Plum Creek Timber Company, Inc. (NYSE: PCL) today announced it has completed
the acquisition of approximately 501,000 acres of industrial timberlands,
associated mineral and wind assets, and interests in approximately 109,000
acres of high-value rural and development quality lands from MeadWestvaco
“Through this cash-accretive transaction, Plum Creek meaningfully grows our
core timber management business while also adding to our land and non-timber
resources businesses,” said Rick Holley, chief executive officer. “By
significantly increasing our assets in the Southeast, we expand our presence
in key markets, enhance our ability to service customers, and are well
positioned to capture value from these assets as markets continue to improve.”
Title, escrow and closing services for this transaction were provided by First
American Title, Atlanta NCS.
Plum Creek is among the largest and most geographically diverse private
landowners in the nation with approximately 6.8million acres of timberlands
in major timber producing regions of the United States and wood products
manufacturing facilities in the Northwest. For more information, visit
Plum Creek Timber Company, Inc.
Media: Kathy Budinick 1-888-467-3751
Investors: John Hobbs 1-800-858-5347
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