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Longview Fibre Considering Life as REIT

LONGVIEW, WA-The timberlands manager and specialty paper and container manufacturer retains Goldman Sachs to assist it in evaluating whether converting to a real estate investment trust would be of benefit to its shareholders. The news pushes the company's share price to a new 52-week high.

By Brian K. Miller | Updated on March 16, 2005

LONGVIEW, WA-Longview Fibre Company is considering life as a real estate investment trust. The timberlands manager and specialty paper and container manufacturer said this week it has retained Goldman Sachs to assist it in evaluating whether converting to a REIT would be of benefit to its shareholders. The news was announced after close of trading Tuesday. On Wednesday, the company’s share price jumped $2.14 (12.63%) on 10 times normal volume to close at $19.08, a new 52-week high. Company president/CEO Richard Wollenberg says he expects to conclude the “complex evaluation” by the end of fiscal year 2005. The announcement was made concurrent with its quarterly dividend statement.Longview Fibre manages approximately 585,000 acres of softwood timberlands predominantly located in western Washington and Oregon. The land is managed primarily for the sale of logs to the US and Japanese markets. The company’s manufacturing facilities include it’s Longview facility, which is one of the largest pulp-paper mills in North America. In addition, it operates 15 converting plants in 12 states and a sawmill in central Washington. Products include: logs; corrugated and solid-fiber containers; commodity and specialty kraft paper; paperboard; and dimension and specialty lumber.

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