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PotlatchDeltic Plans $131M Expansion at Waldo Sawmill

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PotlatchDeltic Corp. of Spokane, Washington has announced a $131 million expansion and modernization of its sawmill in Waldo, Arkansas.

The project aims to increase the mill’s annual capacity from 190 million board feet of dimensional lumber to about 275 million board feet. It’s also expected to significantly reduce the mill’s operating costs.

Eric Cremers, president and CEO of PotlatchDeltic, said in a news release that the investment reflects the company’s belief that housing fundamentals will remain strong. He said the expansion is expected to add up to $30 million per year in earnings before taxes and expenses.

The project includes upgrades to the mill’s log yard and planer, a new saw line, and a new continuous dry kiln. It’s expected to create 55 indirect jobs.

The mill will continue to operate during the project. Completion is expected by the end of 2024.

“The investment in the Waldo lumber mill will further strengthen PotlatchDeltic’s important role in the forest products industry in Arkansas,” Gov. Asa Hutchinson said in the release. “By modernizing and expanding the mill, the company will support the community and position the mill and its team members for success well into the future.”

PotlatchDeltic has partnered with Canada-based BID Group to design and build the expansion.

The expansion was announced a week after PotlatchDeltic said it was merging with another publicly traded company, CatchMark Timber Trust Inc. (NYSE: CTT) of Atlanta. 

CatchMark brings about 350,000 acres of timberlands in Alabama, South Carolina and Georgia to the deal, giving the combined company more than 1.5 million acres across the South. In total, the company will own about 2.2 million acres of timberlands. 

PotlatchDeltic in January expanded operations in El Dorado through an announced merger with Loutre Land & Timber Co.

In Arkansas, the company owns three sawmills and nearly 950,000 acres of timberlands.

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