PotlatchDeltic
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| Company type | Public |
|---|---|
| Nasdaq: PCH | |
| 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 |  $476.17 million 2009[1] |
| $77.33 million 2009 | |
| Total assets | $806.135 mil sept 2010 2%yoy[2] |
Number of 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
In 2002, Potlatch sold its Cloquet, Minnesota, pulp and printing papers facilities and associated assets to Sappi Limited for US$480 million. This sale marked its exit from the coated printing papers business.
In 2006, Potlatch restructured to form a real estate investment trust (REIT). In this restructuring all of the company's manufacturing operations are held by a wholly owned subsidiary, allowing the company to refocus on managing their large land holdings in Oregon, Idaho, Minnesota, and Arkansas.
Properties
The company owns about 1,600,000 acres (6,500 km2) of land in rural Minnesota, Idaho, Wisconsin and Arkansas. The forestry products that it sells are processed at six company-owned facilities.[3]
Spin-off of Clearwater Paper Corporation
On December 9, 2008, Clearwater Paper Corporation, previously a subsidiary of Potlatch, was created via a spin-off, with Gordon L. Jones, a vice-president of Potlatch, as the new company's president and CEO.
Shares of Clearwater Paper (NYSE:CLW) stock were distributed to Potlatch share holders at a ratio of 1 share of Clearwater stock for every 3.5 shares of Potlatch stock held, with any fractional shares being paid in cash. Clearwater stocks began trading on December 16, 2008.
In August 2012, since Clearwater Paper's stocks have failed to rise, the company prepared to split in two and sell one or both businesses.[4]
Annual financial information (2001-2009)
Part of the reason for the large fall in revenue after 2005 is due to the divestiture of assets such as Clearwater Paper.
| 2009[1] | 2008[1] | 2007[1] | 2006 | 2005[5] | 2004[5] | 2003[5] | 2002 | 2001 | |
|---|---|---|---|---|---|---|---|---|---|
| Total Revenue (US$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
- ^ a b c d "Potlatch Corp. 2009 Annual Report". 2010.
- ^ "Potlatch Corp. 2010 Third Quarter Financial Report". 2010-10-29.
- ^ "Potlatch Corp. SEC info via Nasdaq". Retrieved 2011-02-02.
- ^ SAC urges Clearwater Paper to ready itself for sale, Reuters, 21 August 2012
- ^ a b c "Potlatch Corp. 2005 Annual Report" (PDF). 2006.