Plum Creek Timber Co. Inc
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Plum Creek Timber Co. Inc is a real estate investment trust (REIT) which owns timberland. It's the largest and most geographically diverse private land owner in the United States.
Plum Creek Timber Forestland
On October 6, 2008 Dow Jones added Plum Creek Timber to its Dow Jones Sustainability World Index (DJSI World) -- which comprises over 300 of the world's most sustainable businesses. It's also the first company to have all of its land certified by the Sustainable Forestry Initiative (SFI) Program.
Plum Creek owns about 8 million acres of timberland in major timber areas of the US -- 18 states total. Plus, they own 10 manufacturing facilities in the U.S. Northwest for ten wood products (lumber, plywood and medium density fiberboard -- MDF).
Their New York Stock Exchange ticker symbol is PCL. It is part of the S&P 500, Wilshire 5000 and the Russell 1000 indexes. Rick Holley is the CEO.
They look at the value of their timber, the land itself, and the resources under the land (oil, gas, minerals, and work to maximize the value of those resources. Plum Creek also owns Township 110 Land Company, which is a real estate development company and a taxable REIT subsidiary.
Plum Creek is a small stream in Minnesota. In the 1930s, lumberman D.C. Durham started the D.C. Durham Lumber Company in Bemidji Minnesota, and in 1945 he moved his business to Columbia Falls Montana and renamed it Plum Creek. After his death, his family sold it to the Northern Pacific Railroad which became part of Burlington Northern, which spun it off in 1989 into a holding company called Burlington Resources. They set up the Plum Creek Timber Company L.P. as a publicly traded master limited partnership and that company bought Plum Creek from Burlington Resources. PCL converted to a real estate investment trust in 1999. It was the first timber REIT.
They merged with The Timber Company in 2001. Their headquarters are in Seattle Washington.
Plum Creek Timber Co is a REIT in a business that is not going out of style any time soon. I've seen some financial newsletter sales letters that teased readers by revealing that over many years, timber has produced a better return than the stock market. This is one example, and they're doing it in an environmentally sound, sustainable way so they will remain in business for the foreseeable future.
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