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PotlatchDeltic Company (NASDAQ:PCH) It was confirmed today that on the morning of Sunday, June 13, a fire broke out at its Ola Sawmill in Arkansas. The fire departments of Ola and Jarayan responded quickly and controlled the fire. No injuries or deaths were reported due to fires or environmental issues. The damage is mainly the main log damage area of the mill. Planers, furnaces and transportation departments were not affected. The processing of existing rough timber stocks will be completed as soon as possible. After a comprehensive assessment of the damage, the downtime and repair costs of the Ola mill will be determined. We are preparing insurance claims, including business interruptions. PotlatchDeltic log deliveries will be transferred to other factories in the area as much as possible, but harvesting operations may be affected.
The Ola Sawmill in Arkansas has approximately 148 employees in the factory and timber procurement operations. The sawmill can produce approximately 150 million board feet of wood per year. PotlatchDeltic is committed to its business in Ola and will evaluate the options and timing of repairing the damaged area. We thank the employees and contractors on site, as well as Ola Fire Department and Galla Rock Volunteer Fire Department for their prompt response to the fire.
About PotlatchDeltic
PotlatchDeltic (Nasdaq stock code:PCH) Is a leading real estate investment trust (REIT) with approximately 1.8 million acres of woodland in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood plant, a residential and commercial real estate development business, and a rural forest land sales program. PotlatchDeltic is a leader in sustainable forest practices, committed to environmental and social responsibility and responsible governance.More information can be found at www.potlatchdeltic.com.
Forward-looking statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including but not limited to our expectations regarding the impact of the fire at the Ola Sawmill in Arkansas, including downtime, costs and time for maintenance , Insurance claims and similar matters. Words such as “will” and similar expressions are intended to identify such forward-looking statements. You should carefully read forward-looking statements, including statements that contain these words, because they discuss future expectations or state other “forward-looking” information about PotlatchDeltic. Many important factors may cause actual results or events to differ materially from those indicated by such forward-looking statements, many of which are beyond PotlatchDeltic’s control, including the impact of the fire at our Aola Sawmill in Arkansas, including downtime, costs, and repairs Timing and similar matters; the company’s ability to meet expectations; and other factors described in PotlatchDeltic’s annual report on Form 10-K and the company’s other filings with the US Securities and Exchange Commission. Unless otherwise required by law, PotlatchDeltic is not obliged to update this communication. Readers are cautioned not to rely too much on these forward-looking statements, all of which represent only the situation as of the date of this article.
View the source version on businesswire.com: https://www.businesswire.com/news/home/20210613005042/en/
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