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PotlatchDeltic
PotlatchDeltic Corporation (originally Potlatch Corp) is an American diversified forest products company based in Spokane, Washington.
It manufactures and sells lumber, panels and particleboard and receives revenue from other assets such as mineral rights and the leasing of land as well as the sale of land considered expendable. In February 2018, Potlatch acquired Deltic Timber Corp., a smaller Arkansas-based timber company. Following the merger, the company was renamed PotlatchDeltic Corporation. In 2021, the company harvested 5,515,000 tons of lumber. In 2022, PotlatchDeltic merged with CatchMark Timber Trust, Inc.
The Potlatch Lumber Company was incorporated in 1903 with an authorized capital of $3.0 million by a consortium of lumber investors, including William Deary of Northland Pine Company, Henry Turrish of Wisconsin Log and Lumber, and Frederick Weyerhaeuser, who was also an investor in Deary's Northland Pine business. Frederick Weyerhaeuser's son Charles A. Weyerhaeuser became the company's first President and held that role until his death in 1930, while Deary was named the company's General Manager. Potlatch planned a lumber mill on the Palouse River in north central Idaho and began construction in 1905, completing it in 1906.
The company town of Potlatch was built to serve the mill, and over 200 buildings were designed by architect C. Ferris White for the firm. The town soon became the second biggest in Latah County (behind Moscow), and the firm was the biggest taxpayer in Idaho for some years. Its commercial district, which includes the main administrative building of the company, was listed on the National Register of Historic Places in 1986. William Deary also oversaw the building of a logging railroad connecting the mill to the Milwaukee Road's Pacific Extension; the town of Deary, also in Latah County, was named after him.
In 1931, the company became Potlatch Forests, Inc. (PFI) after acquiring the operations of neighboring Clearwater Timber and Edward Rutledge Timber companies, which were facing financial difficulties as a result of lumber oversupply during the Great Depression. After the acquisitions, the company operated the original Potlatch mill as well as a sawmill in Elk River, Idaho (opened by Potlatch in 1907, closed in 1930), the Clearwater sawmill in Lewiston (opened in 1927), and the Rutledge sawmill in Coeur d'Alene (opened in 1916, closed in 1987).
John Philip (Phil) Weyerhaeuser, Jr., nephew of Charles A. Weyerhaeuser, became president of PFI in 1931. Previously, as general manager of Clearwater Timber, he began the first program of sustainable forest management for timber as a crop in the United States. PFI continued this program and Phil Weyerhaeuser implemented it on a larger scale when he joined the family Weyerhaeuser Timber Company in 1933.
After Phil Weyerhaeuser's departure, C.L. Billings took over as PFI's general manager. During his tenure, which lasted until 1949, PFI continued to develop and practice sustained yield forest management in the Inland Northwest. PFI began paying out dividends in 1940.
PFI grew significantly during the postwar economic expansion, broadening its product portfolio and enlarging its manufacturing and sales footprint nationally. Notably:
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PotlatchDeltic
PotlatchDeltic Corporation (originally Potlatch Corp) is an American diversified forest products company based in Spokane, Washington.
It manufactures and sells lumber, panels and particleboard and receives revenue from other assets such as mineral rights and the leasing of land as well as the sale of land considered expendable. In February 2018, Potlatch acquired Deltic Timber Corp., a smaller Arkansas-based timber company. Following the merger, the company was renamed PotlatchDeltic Corporation. In 2021, the company harvested 5,515,000 tons of lumber. In 2022, PotlatchDeltic merged with CatchMark Timber Trust, Inc.
The Potlatch Lumber Company was incorporated in 1903 with an authorized capital of $3.0 million by a consortium of lumber investors, including William Deary of Northland Pine Company, Henry Turrish of Wisconsin Log and Lumber, and Frederick Weyerhaeuser, who was also an investor in Deary's Northland Pine business. Frederick Weyerhaeuser's son Charles A. Weyerhaeuser became the company's first President and held that role until his death in 1930, while Deary was named the company's General Manager. Potlatch planned a lumber mill on the Palouse River in north central Idaho and began construction in 1905, completing it in 1906.
The company town of Potlatch was built to serve the mill, and over 200 buildings were designed by architect C. Ferris White for the firm. The town soon became the second biggest in Latah County (behind Moscow), and the firm was the biggest taxpayer in Idaho for some years. Its commercial district, which includes the main administrative building of the company, was listed on the National Register of Historic Places in 1986. William Deary also oversaw the building of a logging railroad connecting the mill to the Milwaukee Road's Pacific Extension; the town of Deary, also in Latah County, was named after him.
In 1931, the company became Potlatch Forests, Inc. (PFI) after acquiring the operations of neighboring Clearwater Timber and Edward Rutledge Timber companies, which were facing financial difficulties as a result of lumber oversupply during the Great Depression. After the acquisitions, the company operated the original Potlatch mill as well as a sawmill in Elk River, Idaho (opened by Potlatch in 1907, closed in 1930), the Clearwater sawmill in Lewiston (opened in 1927), and the Rutledge sawmill in Coeur d'Alene (opened in 1916, closed in 1987).
John Philip (Phil) Weyerhaeuser, Jr., nephew of Charles A. Weyerhaeuser, became president of PFI in 1931. Previously, as general manager of Clearwater Timber, he began the first program of sustainable forest management for timber as a crop in the United States. PFI continued this program and Phil Weyerhaeuser implemented it on a larger scale when he joined the family Weyerhaeuser Timber Company in 1933.
After Phil Weyerhaeuser's departure, C.L. Billings took over as PFI's general manager. During his tenure, which lasted until 1949, PFI continued to develop and practice sustained yield forest management in the Inland Northwest. PFI began paying out dividends in 1940.
PFI grew significantly during the postwar economic expansion, broadening its product portfolio and enlarging its manufacturing and sales footprint nationally. Notably: