Boise Cascade to Invest Additional $140MM to Support EWP Growth Strategy
25 1월 2024 - 6:15AM
Business Wire
Boise Cascade Company (“Boise Cascade” or the “Company”) (NYSE:
BCC) today announced new investments in Alabama and Louisiana in
support of its engineered wood products (EWP) growth strategy.
In Alabama, the Company is adding I-joist production
capabilities to its Thorsby EWP mill and converting a plywood layup
line to a parallel laminated veneer line at the Chapman plywood
facility. The Chapman investment adds to its important integration
into the Company’s EWP growth plans. In addition, the Chapman
plywood facility extended employment opportunities to approximately
50 of the 80 associates affected by the recently announced Chapman
lumber operations curtailment. At its Oakdale, Louisiana facility,
major projects planned include the upgrade and redesign of the log
utilization center, a new veneer dryer and press, and modification
of an existing veneer dryer. These investments are expected to take
place over a two-year period.
“We are looking forward to these major expansions and upgrades
to further solidify our market position in EWP,” said Chris
Seymour, SVP, Wood Products Manufacturing Operations. “We have
great teams in the southeastern U.S. and are pleased to further
invest in our meaningful asset bases in Alabama and Louisiana.”
On a total Company basis, our current estimate of capital
expenditures for 2024 is $250 million to $270 million. This range
includes the investments above and spending on the previously
announced greenfield distribution centers in Hondo, Texas and
Walterboro, South Carolina in our Building Materials Distribution
segment.
About Boise Cascade
Boise Cascade is one of the largest producers of engineered wood
products and plywood in North America and a leading U.S. wholesale
distributor of building products. For more information, please
visit our website at www.bc.com.
Forward-Looking Statements
This press release includes statements about our expectations of
future operational and financial performance that are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934, including, but not limited to, statements regarding
the expected capital expenditures and the timing of our capital
investments. Statements preceded or followed by, or that otherwise
include, the words “believes,” “expects,” “anticipates,” “intends,”
“project,” “estimates,” “plans,” “forecast,” “is likely to,” and
similar expressions or future or conditional verbs such as “will,”
“may,” “would,” “should,” and “could” are generally forward-looking
in nature and not historical facts. Such statements are based upon
the current beliefs and expectations of our management and are
subject to significant risks and uncertainties. The accuracy of
such statements is subject to a number of risks, uncertainties, and
assumptions that could cause our actual results to differ
materially from those projected, including, but not limited to,
prices for building products, changes in the competitive position
of our products, commodity input costs, the effect of general
economic conditions, mortgage rates and availability, housing
demand, housing vacancy rates, governmental regulations, unforeseen
production disruptions, as well as natural disasters. These and
other factors that could cause actual results to differ materially
from such forward-looking statements are discussed in greater
detail in our filings with the Securities and Exchange Commission.
Forward-looking statements speak only as of the date of this press
release. We undertake no obligation to revise them in light of new
information. Finally, we undertake no obligation to review or
confirm analyst expectations or estimates that might be derived
from this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20240123092190/en/
Media Contact Lisa Tschampl mediarelations@bc.com
Investor Contact Kelly Hibbs investor@bc.com
Boise Cascade (NYSE:BCC)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Boise Cascade (NYSE:BCC)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024