Pope & Talbot, Inc. (PTBTQ)

[BreakoutÎnvestments]

Pope & Talbot Announces Agreement to Sell Three Sawmills to Interfor
Agreement subject to approval by U.S. Bankruptcy Court and Canadian Court allows for competing bids to be considered before sale is finalized


PORTLAND, Ore., Nov. 19 /PRNewswire/ -- Pope & Talbot, Inc (Pink Sheets: PTBT) today announced that it has agreed sell three sawmills and related timber tenures to International Forest Products Limited (Interfor) for roughly $69 million plus the value of certain current assets and liabilities assumed. The three mills, located in Castlegar, British Columbia, Grand Forks, British Columbia and Spearfish, South Dakota are producers of high-quality softwood lumber products.


The transaction is subject to approvals by the U.S. Bankruptcy Court and the Canadian Court and will be effected under procedures that provide for the possibility of competing bids.


Pope & Talbot is a pulp and wood products business. The Company is based in Portland, Oregon and trades on the Pink Sheets under the symbol PTBT. Pope & Talbot was founded in 1849 and produces market pulp and softwood lumber at mills in the US and Canada. Markets for the Company's products include the US, Europe, Canada, South America and the Pacific Rim. For more information, please check our website at www.poptal.com.