PotlatchDeltic

#2766

Rank

$4.28B

MarketCap US

US United States

Country

Summary
PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns 1.8 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program. PotlatchDeltic, a leader in sustainable forest management, is committed to environmental and social responsibility and to responsible governance.

History

The Potlatch Lumber Company was incorporated in 1903. It planned a lumber mill on the Palouse River and began construction in 1905, completed in 1906. The mill operated until 1981. The company town of Potlatch, Idaho was built to serve the mill. Over 200 buildings were designed by architect C. Ferris White for the firm. The town soon became the second biggest town in Latah County, Idaho, and the firm was the biggest taxpayer in Idaho for some years.:?8–9?The Commercial Historic District , which includes the main administrative building of the company, was listed on the National Register of Historic Places in 1986.In 1985, Canadian businessman Samuel Belzberg's First City Financial Corporation attempted a takeover of the company. Potlatch eventually bought back the corporation's 1.1 million shares, paying $8.1 million and ending the takeover bid. With the buyback, the stock returned to the control of the Weyerhaeuser family, the descendants of the original founder.In March 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. Sappi closed the facilities and moved the production to its own plants in Skowhegan, Maine, and Westbrook, Maine.In 2006, Potlatch restructured to form a real estate investment trust . 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.

In February 2018, Potlatch acquired Deltic Timber Corp., a smaller Arkansas-based timber company. Following the merger, the company was renamed PotlatchDeltic Corporation. The merged companies owned 2 million acres of timber in total.


Mission
Our mission is to create value for our shareholder through responsible stewardship of our land and resources.

Vision
Our vision is to be a premier, sustainable fiber and real estate company, providing superior long-term returns to our shareholders while protecting, managing, and enhancing our forests and resources.

Key Team

Mr. Thomas J. Temple (VP of Wood Products)

Ms. Ashlee Townsend Cribb (VP of Wood Products)

Mr. Robert L. Schwartz (VP of HR)

Mr. Wayne Wasechek (Controller & Principal Accounting Officer)

Ms. Anna E. Torma (VP of Public Affairs & Chief ESG Officer)


Recognition and Awards
PotlatchDeltic has received awards for responsible forestry and sustainability practices, most recently the 2014 Forest Stewardship Council Award for leadership in sustainable forestry. The company has also achieved certification from the Sustainable Forestry Initiative and the American Tree Farm System.

References
PotlatchDeltic
Leadership team

Mr. Eric J. Cremers (Pres, CEO & Director)

Mr. Jerald W. Richards CPA (VP & CFO)

Ms. Michele L. Tyler (VP, Gen. Counsel & Corp. Sec.)

Products/ Services
Manufacturing, Timber, Wood Processing
Number of Employees
1,000 - 20,000
Headquarters
Spokane, Washington, United States
Established
1903
Company Registration
SEC CIK number: 0001338749
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
PCH
Social Media
Mon Feb 26 2024
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