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MarketScreener Homepage  >  Equities  >  Nyse  >  Boise Cascade Co    BCC

BOISE CASCADE CO (BCC)
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Boise Cascade : Announces Curtailment of Lumber Operation in Elgin, Oregon

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05/17/2018 | 12:08am CEST

Boise Cascade Company
1111 West Jefferson Street Ste 300
PO Box 50 Boise, ID 83728
T 208-384-6161 F 208-331-5757

Media Contact
Lisa Chapman
Office 208-384-6552

Regional Manager Contact
John White
Office 541-770-6221

For Immediate Release: May 16, 2018

BOISE, Idaho - Boise Cascade Company (Boise Cascade) (NYSE: BCC) announced today the curtailment of its lumber operation in Elgin, Oregon. The 60-day notice includes the sawmill, planer and shipping department; the powerhouse and log utilization center will remain operational.

'Boise Cascade has operated the Elgin lumber mill since 1960. This portion of the Elgin complex is not cost competitive in the marketplace given its age, size and technology,' stated John White, Regional Manager, Wood Products. 'Even with significant new capital investments, it is not clear the lumber mill can be positioned to be cost competitive. We have announced an indefinite curtailment as we assess the future of the Elgin lumber operation.'

'The hourly workers and management staff have been notified,' said Steve Lyon, Northeast Oregon Human Resources Manager. 'We understand the effect of this announcement on our employees and their families, and we are providing information and resources to help them as best we can.'

The company anticipates ceasing operations at the lumber mill by mid-July. A phased shutdown approach will be deployed, starting first with the sawmill, followed by the planer, concluding with the shipping department once existing inventory has been exhausted.

Boise Cascade continues to employ more than 500 people at the Elgin Plywood Mill and its facilities in nearby La Grande, Island City and Pilot Rock.

About Boise Cascade
Boise Cascade is one of the largest producers of engineered wood products and plywood in North America and a leading U.S. wholesale distributor of building products. For more information, please visit our website at www.bc.com.

Disclaimer

Boise Cascade Company published this content on 16 May 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 16 May 2018 22:07:05 UTC

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Financials ($)
Sales 2018 5 124 M
EBIT 2018 206 M
Net income 2018 131 M
Debt 2018 192 M
Yield 2018 3,27%
P/E ratio 2018 12,25
P/E ratio 2019 11,60
EV / Sales 2018 0,34x
EV / Sales 2019 0,30x
Capitalization 1 540 M
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Mean consensus HOLD
Number of Analysts 7
Average target price 47,0 $
Spread / Average Target 19%
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Thomas Kevin Corrick Chief Executive Officer & Director
Thomas E. Carlile Chairman
Wayne M. Rancourt Chief Financial Officer, Treasurer & Executive VP
Duane Charles McDougall Independent Director
Christopher J. McGowan Independent Director
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