SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (Date of earliest event reported): January 11, 2000
PLUM CREEK TIMBER COMPANY, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-10239 91-1912863
(State or other (Commission File Number) IRS Employer
jurisdiction of Identification Number)
incorporation or
organization)
999 Third Avenue, Suite 2300
Seattle, Washington 98104-4096
Telephone: (206) 467-3600
Item 5. OTHER EVENTS
On January 11, 2000, Plum Creek Timber Company, Inc. issued a press
release announcing that its medium density fiberboard (MDF)
manufacturing subsidiary will add a 95 million square foot thin MDF
production line to its existing MDF facility in Columbia Falls,
Montana. The text of the press release is attached to this Report as
Exhibit 99.1.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99.1 Press Release, dated January 11, 2000
Forward-looking Statements
This Report contains forward-looking statements within the meaning of
the Private Litigation Reform Act of 1995, which are generally
identified by words such as "may," "should," "seeks," "believes,"
"expects," "intends," "estimates," "projects," "strategy" and similar
expressions or the negative of those words. Forward looking
statements are subject to a number of known and unknown risks and
uncertainties that could cause actual results to differ materially
from those projected, expressed or implied in the statements. These
risks and uncertainties, many of which are not within the company's
control, include, but are not limited to, the cyclical nature of the
forest products industry, our ability to harvest our timber, our
ability to execute our acquisition strategy, and regulatory
constraints. These risks are detailed from time to time in our
filings with the Securities and Exchange Commission. Forward-looking
statements speak only as of the date made, and neither the company nor
its management undertakes any obligation to update or revise any
forward-looking statements. It is likely that if one or more of the
risks and uncertainties materializes, the current expectations of the
Company and its management will not be realized.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
PLUM CREEK TIMBER COMPANY, INC.
-------------------------------
(Registrant)
By: /s/ William R. Brown
------------------------
William R. Brown
Executive Vice President and
Chief Financial Officer
Date: January 11, 2000
Exhibit Index
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Exhibit Description
- ------- -----------
99.1 Press Release, dated January 11, 2000
Exhibit 99.1
Contact: Emilio Ruocco
Director, Investor Relations
(206) 467-3618 or 1-800-858-5347
www.plumcreek.com
PLUM CREEK TIMBER COMPANY ANNOUNCES EXPANSION OF MEDIUM DENSITY
FIBERBOARD BUSINESS
SEATTLE, WASHINGTON -- January 11, 2000 -- Plum Creek Timber
Company, Inc. (NYSE: PCL) today announced that its medium density
fiberboard (MDF) manufacturing subsidiary will add a 95 million square
foot thin MDF production line to its existing MDF facility in Columbia
Falls, Montana.
The $69 million investment will be significantly less costly
than a new, stand-alone facility through the use of existing
infrastructure and will provide the market with a full range of high-
quality MDF products.
Describing the expansion, Plum Creek President and Chief
Executive Officer Rick R. Holley said, "Plum Creek has a distinctive
core competency in the MDF business. A complementary thin board line
represents a unique opportunity to build upon our leadership position
in product quality and customer service." Holley added, "We believe
that the combination of excellent MDF demand growth, the synergies
from operating two production lines at the same facility, and our
control of a high-quality raw material source will provide very
attractive economics."
Plum Creek is one of the largest timberland owners in the nation
with timberlands and mills located in the Northwestern, Southern and
Northeastern regions of the United States.
Forward-looking Statements
- --------------------------
This press release contains forward-looking statements within the
meaning of the Private Litigation Reform Act of 1995, which are
generally identified by words such as "may," "should," "seeks,"
"believes," "expects," "intends," "estimates," "projects," "strategy"
and similar expressions or the negative of those words. Forward
looking statements are subject to a number of known and unknown risks
and uncertainties that could cause actual results to differ materially
from those projected, expressed or implied in the statements. These
risks and uncertainties, many of which are not within the company's
control, include, but are not limited to, the cyclical nature of the
forest products industry, our ability to harvest our timber, our
ability to execute our acquisition strategy, and regulatory
constraints. These risks are detailed from time to time in our
filings with the Securities and Exchange Commission. Forward-looking
statements speak only as of the date made, and neither the company nor
its management undertakes any obligation to update or revise any
forward-looking statements. It is likely that if one or more of the
risks and uncertainties materializes, the current expectations of the
Company and its management will not be realized.
