Potlatch Taps Mark Bice to Manage Land Acquisitions and Sales in Southern US
SPOKANE, Wash., Feb. 19, 2015 (GLOBE NEWSWIRE) — Potlatch Corporation (Nasdaq:PCH) announced today that it has hired Mark Bice as Real Estate and Acquisition Manager effective March 2nd. Bice will be responsible for all Real Estate activity including timberland acquisitions and small parcel sales for the company in Alabama, Arkansas and Mississippi. Bice will be located in Birmingham, Alabama.
“Potlatch is pleased to bring someone on board with such deep knowledge and experience in land transactions in the US Southeast,” said Mike Covey, chairman and chief executive officer for Potlatch Corporation. “Timberland acquisition in the US Southeast is a key part of our growth strategy, especially where opportunities exist to ‘bolt on’ to our recent Alabama and Mississippi acquisitions,” added Covey.
Bice comes to us from BTG Pactual Timberland Investment group (formerly Regions Timberland Group), a Timberland Investment Management Organization headquartered in Atlanta, Georgia. Bice is a recognized 30-year plus industry veteran having negotiated and closed over $1 billion in timberland transactions, in the US south as well as other regions in the country. Potlatch purchased 201,000 acres in Alabama and Mississippi in December of 2014. The company believes acquiring timberland in the US Southeast is timely given the expectation that housing starts will continue to increase in the coming years and that incremental volume to meet housing growth will mostly come from southern timber markets.
Potlatch is a Real Estate Investment Trust (REIT) with approximately 1.6 million acres of timberland in Alabama, Arkansas, Idaho Minnesota and Mississippi. Potlatch, a verified forest practices leader, is committed to providing superior returns to stockholders through long-term stewardship of its forest resources. The company also conducts a land sales and development business and operates wood products manufacturing facilities through its taxable REIT subsidiary.
This press release contains certain forward-looking statements within the meaning of the Private Litigation Reform Act of 1995 as amended, including without limitation, statements about our expectations regarding future company performance; the direction of our business markets; the state of the domestic housing market; housing start; and similar matters. These forward-looking statements are based on current expectations, estimates, assumptions and projections that are subject to change, and actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the United States and international economies; changes in the level of construction activity; changes in Chinese demand; changes in tariffs, quotas and trade agreements involving wood products; changes in demand for our products; changes in production and production capacity in the forest products industry; competitive pricing pressures for our products; changes in general and industry-specific environmental laws and regulations; and other risks and uncertainties described from time to time in the company’s public filings with the Securities and Exchange Commission. The forward-looking statements are made as of the date of this press release and the company does not undertake to update any forward-looking statements.
CONTACT: (Investors) (Media)
Jerry Richards Mark Benson 509.835.1521 509.835.1513