Pope Resources Announces Reduced Harvest for 2008
2007年12月12日 - 11:00PM
ビジネスワイヤ(英語)
Pope Resources (Nasdaq:POPEZ) announced today its plan to reduce
2008 timber harvest volume by 33% from its long-term sustainable
level. This reduction in harvest volume is planned in response to
expected soft prices for logs in the coming year as the slowdown in
housing starts has curtailed demand for solid wood products. Rather
than absorb materially lower log prices on comparable year-to-year
volumes, the Partnership is opting instead to allow timber that
otherwise would have been harvested in 2008 to continue to grow.
The Partnership�s expectation is that when the Partnership
ultimately harvests this deferred volume, unitholders will benefit,
from a discounted cash flow perspective, through both biological
growth and improved price realization by waiting to harvest that
timber when markets recover. About Pope Resources Pope Resources, a
publicly traded limited partnership, and its subsidiaries Olympic
Resource Management and Olympic Property Group, own or manage over
430,000 acres of timberland and development property in Washington
and Oregon. In addition, we provide forestry consulting and
timberland management services to third-party owners and managers
of timberland in Washington, Oregon, and California. The company
and its predecessor companies have owned and managed timberlands
and development properties for more than 150 years. Additional
information on the company can be found at www.orm.com. The
contents of our website are not incorporated into this release or
into our filings with the Securities and Exchange Commission.
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