Pope & Talbot Resumes Limited Operations at Three Saw Mills
Portland, Oregon, USA, 30 October 2007 --/PRNewswire/ -- Pope & Talbot, Inc (PTBT.PK) today announced the scheduled re-opening of three Canadian saw mills located in Grand Forks, Castlegar, and Fort St. James, British Columbia, for 05 November. The mills, temporarily shutdown since 15 October due to market conditions, will be brought back at a reduced capacity with Grand Forks and Castlegar mills operating on one shift. Fort St. James is anticipated to operate as normal.
Pope and Talbot CEO Harold Stanton said the reduced capacity is due to the falling prices of softwood lumber products brought on by the poor U.S. housing market and the continued strengthening of the Canadian dollar. "Unfortunately the continued problems in the housing market has severely hurt the demand for our softwood lumber products," said Stanton. "As we move forward we will continue to make adjustments as the market dictates."
Pope & Talbot is a pulp and wood products business. The company is based in Portland, Oregon, and trades on the Pink Sheets under the symbol PTBT. Pope & Talbot was founded in 1849 and produces market pulp and softwood lumber at mills in the United States and Canada. Markets for the company's products include the United States, Europe, Canada, South America, and the Pacific Rim. For more information, visit www.poptal.com.