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PotlatchDeltic Upgrades Waldo, Arkansas, Sawmill

Real Estate Investment Trust PotlatchDeltic Corporation will expand and modernize its Waldo sawmill located in Columbia County, Arkansas. The $131 million project is expected to create 55 indirect jobs.

The company will increase the mill’s annual capacity from 190 million board feet of dimensional lumber to approximately 275 million board feet. The investment will also reduce the mill’s operating costs significantly. The existing mill will continue to operate during the expansion and completion is expected by the end of 2024.

“The Waldo investment is an exciting strategic growth opportunity, and it will position the mill among the lowest cost producers in the U.S. South,” said Eric Cremers, President and CEO. “We expect to achieve additional EBITDDA of $25 to $30 million per year and an IRR of approximately 22% in our base case, which is based on a relatively conservative lumber price assumption. The project reflects our belief that housing fundamentals will remain strong,” stated Cremers added.

PotlatchDeltic is a leading REIT that owns approximately 1.8 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota, and Mississippi. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business, and a rural timberland sales program.

"The investment in the Waldo lumber mill will further strengthen PotlatchDeltic’s important role in the forest products industry in Arkansas," Governor Asa Hutchinson added. "By modernizing and expanding the mill, the company will support the community and position the mill and its team members for success well into the future."

PotlatchDeltic owns three sawmills and nearly 950,000 acres of timberlands in Arkansas.

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