| Type | Public NASDAQ: PCH |
|---|---|
| Industry | Pulp and paper, Forestry Real estate |
| Founded | 1903 as Potlach Lumber |
| Headquarters | Spokane, WA |
| Key people | Michael J.Covoy chair,ceo,pres |
| Products | Lumber, Plywood,Minerals |
| Revenue | $476.17 million 2009[1] |
| Net income | $77.33 million 2009 |
| Total assets | $806.135 mil sept 20102%yoy[2] |
| Employees | 920 Sept 2010 |
| Subsidiaries | Potlatch TRS sells non-core real estate |
| Website | 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.
In 2002, Potlatch sold its Cloquet, Minnesota pulp and printing papers facilities and associated assets to Sappi Limited for US$480 million. This sale marked its exit from the coated printing papers business.
In 2006, Potlatch restructured to form a REIT. In this restructuring all of the companies manufacturing operations are held by a wholly owned subsidiary and would allow the company to refocus on managing their large land holdings in Oregon, Idaho, Minnesota, and Arkansas.
Contents |
The company owns about 1,600,000 acres (6,500 km2) of land in rural Minnesota, Idaho, Wisconsin and Arkansas. The forestry products that it sells are processed at 6 owned facilities.[3]
On December 9, 2008, Clearwater Paper Corporation, previously a subsidiary of Potlatch, was created via a spin-off, with Gordon L. Jones, a vice-president of Potlatch, as the new company's president and CEO.
Shares of Clearwater Paper (NYSE:CLW) stock were distributed to Potlatch share holders at a ratio of 1 share of Clearwater stock for every 3.5 shares of Potlatch stock held, with any fractional shares being paid in cash. Clearwater stocks began trading on December 16, 2008.
Part of the reason for the large fall in revenue after 2005 is due to the divestiture of assets such as Clearwater Paper.
| Financial Information | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2009[1] | 2008[1] | 2007[1] | 2006 | 2005[4] | 2004[4] | 2003[4] | 2002 | 2001 | |
| Total Revenue (US$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) |