Deltic Timber Corp. of El Dorado and Potlatch Corp. of Spokane, Washington, announced Wednesday that the two have completed their $1.2 billion merger, originally announced last year.
The combined company is called PotlatchDeltic Corp. and trades under the symbol "PCH" on Nasdaq. The company bills itself as "a leading domestic timberland owner and top-tier wood products manufacturer" with a portfolio of nearly 2 million acres — 1.1 million of which are in the South.
"Today marks the beginning of a stronger PotlatchDeltic, positioned for growth," Chairman and CEO Mike Covey said in a news release. "We are thrilled to be celebrating this milestone and eager to begin integrating our business and capturing significant merger benefits. Our businesses have solid plans in place to deliver on our synergy commitments and provide a seamless transition for our customers and other stakeholders."
The company, which holds acreage in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi, operates eight wood products manufacturing facilities: six lumber manufacturing plants, one medium density fiberboard plant and one industrial plywood mill. In total, the company said it has lumber capacity of 1.2 billion board feet, which it said makes it one of the leading producers in the country.