Potlatch (PCH) Misses Q3 EPS by 2c; to Acquire Certain Land Assets from Resource Management

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Go back to Potlatch (PCH) Misses Q3 EPS by 2c; to Acquire Certain Land Assets from Resource Management

Potlatch Corporation Reports Third Quarter 2014 Results and Signs Purchase Agreement for 201,000 Acres of Alabama & Mississippi Timberlands

October 20, 2014 4:31 PM EDT

SPOKANE, Wash., Oct. 20, 2014 (GLOBE NEWSWIRE) -- Potlatch Corporation (Nasdaq: PCH) announced today its third quarter 2014 results and that it has signed a purchase agreement to acquire 201,000 acres of timberlands in Alabama and Mississippi from affiliates of Resource Management Service, LLC for $384 million. The transaction is expected to close late in the fourth quarter of 2014 and is subject to the satisfaction of customary closing conditions.

"We are pleased to add these very productive timberlands to our southern portfolio," said Michael Covey, chairman and chief executive officer of Potlatch Corporation. "The timberlands have... More