MARCH 2008: AROUND THE STATE
Sinar Mas buys four mills from Pope & Talbot
PORTLAND
As part of the Portland lumber company’s bankruptcy
proceedings, Indonesian conglomerate Sinar Mas Group will buy
four of Pope & Talbot’s pulp mills, including its
sole Oregon mill in Halsey, for approximately $231 million. A
judge is expected to approve Sin Mar Group’s bid on the
mills, three of which are in British Columbia; Montana-based
Fox Lumber Sales has bid $750,000 for another Canadian mill.
Sin Mar Group has not announced plans for the Halsey mill,
which employees about 180. Pope & Talbot put itself up for
sale and then sought bankruptcy protection after it took huge
losses in 2007 because of the slowing housing market, the weak
dollar and labor issues at its Canadian mills.
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