Potlatch Corp., Spokane, Wa., has completed its merger with Deltic Timber Corp., El Dorado, Ar., in an all-stock transaction.
The combined company has changed its name to PotlatchDeltic Corp. and its shares will trade on the Nasdaq Stock Market under the ticker PCH.
“Today marks the beginning of a stronger PotlatchDeltic, positioned for growth,” said chairman and CEO Mike Covey. “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 stake-holders.”
Together, the combined company has a highly productive and diverse timberland portfolio of nearly 2 million acres, with approximately 1.1 million acres in the U.S. South, 600,000 acres in Idaho, and 150,000 acres in Minnesota. It also operates eight wood products manufacturing facilities, including six lumber mills, one MDF plant, and one industrial plywood mill, providing a combined lumber capacity of 1.2 billion bd. ft. annually.