Sinar Mas buys four mills from Pope & Talbot

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Saturday, March 01, 2008

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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