Potlatch Corp.

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Potlatch Corp.
Type Public
Traded as NASDAQPCH
Industry Forestry
Real estate
Founded 1903 as Potlach Lumber
Headquarters Spokane, WA
Key people Michael J.Covey chair,ceo,pres
Products Lumber, Plywood,Minerals
Revenue Increase$476.17 million 2009[1]
Net income Increase$77.33 million 2009
Total assets $806.135 mil sept 2010Decrease2%yoy[2]
Employees 920 September 2010
Subsidiaries Potlatch TRS sells non-core real estate
Website www.potlatchcorp.com

Potlatch Corporation is an American diversified forest products company based in Spokane, Washington.

It manufactures and sells lumber, panels and particleboard and receives revenue from other assets such as mineral rights and the leasing of land as well as the sale of land considered expendable.

History[edit]

In 2002, Potlatch sold its Cloquet, Minnesota, pulp and printing papers facilities and associated assets to Sappi Limited for US$480 million. This sale marked its exit from the coated printing papers business.

In 2006, Potlatch restructured to form a real estate investment trust (REIT). In this restructuring all of the company's manufacturing operations are held by a wholly owned subsidiary, allowing the company to refocus on managing their large land holdings in Oregon, Idaho, Minnesota, and Arkansas.

Properties[edit]

The company owns about 1,600,000 acres (6,500 km2) of land in rural Minnesota, Idaho, Wisconsin and Arkansas. The forestry products that it sells are processed at six company-owned facilities.[3]

Spin-off of Clearwater Paper Corporation[edit]

On December 9, 2008, Clearwater Paper Corporation, previously a subsidiary of Potlatch, was created via a spin-off, with Gordon L. Jones, a vice-president of Potlatch, as the new company's president and CEO.

Shares of Clearwater Paper (NYSE:CLW) stock were distributed to Potlatch share holders at a ratio of 1 share of Clearwater stock for every 3.5 shares of Potlatch stock held, with any fractional shares being paid in cash. Clearwater stocks began trading on December 16, 2008.

In August 2012, since Clearwater Paper's stocks have failed to rise, the company prepared to split in two and sell one or both businesses.[4]

Annual financial information (2001-2009)[edit]

Part of the reason for the large fall in revenue after 2005 is due to the divestiture of assets such as Clearwater Paper.

Financial Information
  2009[1] 2008[1] 2007[1] 2006 2005[5] 2004[5] 2003[5] 2002 2001
Total Revenue (US$M) 476.169 439.957 423.472 417.24 1,496.1 1,351.4 1,192.4 1,286.2 1,752.0
Net Income (Loss) (US$M) 81.431 72.937 74.642 139.11 32.9 271.2 50.7 (234.4) (79.4)

References[edit]

External links[edit]