PotlatchDeltic

File:Sawmill of the Potlatch Lumber Company, April 17, 1906 - Potlatch, Idaho (51211332295).jpg, in April 1906]]

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.{{cite web|url=https://digitalatlas.cose.isu.edu/geog/forestry/lmbermn.htm|title=Lumbermen In Idaho|publisher=Idaho State University|access-date=March 9, 2023}} 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.{{cite web|url=https://foresthistory.org/awards-fellowships/weyerhaeuser-award/charles-a-weyerhaeuser-biography/|title=Charles Augustus Weyerhaeuser|publisher=Forest History Society|access-date=March 9, 2023}} Potlatch planned a lumber mill on the Palouse River in north central Idaho and began construction in 1905, completing it in 1906.

File:Train of Logs for the Potlatch Lumber Company, circa 1907 - Potlatch, Idaho (4265195455).jpg

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.{{cite web|url={{NRHP url|id=64000169}}|title=National Register of Historic Places Inventory/Nomination: Historic Resources of Potlatch MRA |author=Keith Petersen and Mary Reed |date=November 2, 1985 |publisher=National Park Service |access-date=January 12, 2017}}{{rp|8–9}} Its commercial district, which includes the main administrative building of the company, was listed on the National Register of Historic Places in 1986.{{cite web|url={{NRHP url|id=86002201}}|title=Idaho State Historical Society Inventory Sheet: Commercial Historic District |publisher=National Park Service |author=Keith Petersen and Mary Reed |date=November 2, 1985 |access-date=January 12, 2017 }} with {{NRHP url|id=86002201|photos=y|title=six photos from 1985}} 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).{{cite web|url=https://digitalatlas.cose.isu.edu/geog/forestry/lmbermn.htm|title=Lumbermen In Idaho|publisher=Idaho State University|access-date=March 9, 2023}}

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.{{cite web|url=https://www.worldforestry.org/wp-content/uploads/2018/03/WEYERHAEUSER-JOHN-P.-JR.pdf|title=John Philip (J.P.) Weyerhaeuser, Jr.|publisher=World Forestry|access-date=March 10, 2023}}

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.{{cite web|url=https://digitalatlas.cose.isu.edu/geog/forestry/lmbermn.htm|title=Lumbermen In Idaho|publisher=Idaho State University|access-date=March 9, 2023}}

PFI grew significantly during the postwar economic expansion, broadening its product portfolio and enlarging its manufacturing and sales footprint nationally.{{cite web|url=https://www.potlatchdeltic.com/about-history|title=PotlatchDeltic About History|publisher=PotlatchDeltic|access-date=October 24, 2024}} Notably:

• In 1950, PFI started up its first pulp and paperboard mill at the site of the Lewiston sawmill
• In 1953, PFI acquired a paper mill in Pomona, California, and entered the tissue business
• In 1958, PFI acquired Southern Lumber Company and Bradley Lumber Company, based in Warren, Arkansas
• In 1963, PFI began producing private label tissue products from its Lewiston mill
• In 1964, PFI acquired Northwest Paper Company, based in Cloquet, Minnesota
• In 1964, PFI moved its executive offices from Lewiston to San Francisco, California
• In 1968, PFI purchased a plywood plant in St. Maries, Idaho
• In 1973, PFI became Potlatch Corporation, reflecting its diversification and expansion
• In 1977, Potlatch built its second pulp and paperboard mill in Arkansas City, Arkansas, naming it the Cypress Bend Mill

The Potlatch mill operated until mid-August 1981,{{cite news |url=https://news.google.com/newspapers?id=as5eAAAAIBAJ&sjid=xTIMAAAAIBAJ&pg=5112%2C5071702 |work=Lewiston Morning Tribune |last=Johnson |first=David |title=Hard times ahead |date=August 13, 1981 |page=1A}}{{cite news |url=https://news.google.com/newspapers?nid=BtfE7wd9KvMC&dat=19810815&printsec=frontpage&hl=en |work=Lewiston Morning Tribune |last=Johnson |first=David |title=The mill's last day |date=August 15, 1981 |page=1A}} and the company announced that mill closure would be permanent in 1983.{{cite web|url=https://www.intermountainhistories.org/items/show/112|title=Potlatch Lumber Mill and the Company Town|publisher=Intermountain Histories|access-date=March 10, 2023}} In 1985, Canadian businessman Samuel Belzberg's First City Financial Corporation attempted a takeover of the company. Potlatch eventually bought back the corporation's 1.1 million shares, paying $8.1 million and ending the takeover bid. With the buyback, the stock returned to the control of the Weyerhaeuser family, the descendants of the original founder.{{cite web|url=https://www.nytimes.com/1985/11/13/business/potlatch-buys-out-belzbergs.html|title=POTLATCH BUYS OUT BELZBERGS|author=LAWRENCE M. FISHER|work=The New York Times|access-date=May 14, 2018|date=November 13, 1985}}

The Rutledge mill in Coeur d'Alene operated through October 1987;{{cite news |url=https://news.google.com/newspapers?id=ayNZAAAAIBAJ&pg=7126%2C814176 |newspaper=Spokesman-Review |location=(Spokane, Washington) |last=Bond |first=David |title=Sawmill cleanup studied |date=September 17, 1987 |page=A6 }}{{cite news |url=https://news.google.com/newspapers?id=80JYAAAAIBAJ&pg=2671%2C1336876 |newspaper=Spokane Chronicle |location=(Washington)|title=Hagadone buying up more land on Lake Coeur d'Alene |last=Oliveria |first=D.F. |date=May 25, 1988 |page=A3 }}{{cite news|url=https://news.google.com/newspapers?id=81xYAAAAIBAJ&pg=3647,756728|newspaper=Spokane Chronicle|location=(Washington)|title=Potlatch will close Coeur d'Alene mill|last=Bond|first=David|date=January 21, 1987|page=A3}}{{cite news|url=https://news.google.com/newspapers?id=lG5fAAAAIBAJ&pg=5763,114181|newspaper=Lewiston Sunday Tribune|location=(Idaho)|agency=Associated Press|title=Historic Rutledge Mill saws its final log|date=November 1, 1987|page=6B}}{{cite news|url=https://news.google.com/newspapers?id=qVpWAAAAIBAJ&pg=1971%2C9450751 |newspaper=Spokesman-Review|location=(Spokane, Washington)|title=Last log sawn at Rutlege mill in wee hours of morning|last=Bond|first=David|date=October 31, 1987|page=A6}}{{cite news |url=https://news.google.com/newspapers?id=FL5YAAAAIBAJ&pg=3654%2C184278 |work=Spokesman-Review |location=(Spokane, Washington) |last=Trevison |first=Catherine |title=Rutledge auction wasn't run-of-the-mill |date=December 16, 1987 |page=B1}} the site was acquired by Duane Hagadone the following year in a three-way land swap,{{cite news|url=https://news.google.com/newspapers?id=TKgpAAAAIBAJ&pg=5969,1985844|newspaper=Spokesman-Review|location=(Spokane, Washington)|title=Rutledge mill site sold, Potlatch official says|date=March 3, 1988|page=B2}}{{cite news|url=https://news.google.com/newspapers?id=o1lWAAAAIBAJ&pg=6632,8214179|newspaper=Spokesman-Review|location=(Spokane, Washington)|last=Jones|first=Grayden|title=Hagadone swapped land for resort site|date=April 12, 1989|page=A6}} and became the golf course (1991) of the Coeur d'Alene Resort.{{cite news |url=https://news.google.com/newspapers?id=rNRYAAAAIBAJ&pg=4278%2C3877582|newspaper=Spokesman-Review |location=(Spokane, Washington) |agency=staff and wire reports |title=April opening set for golf course |date=August 15, 1990 |page=B2 }}{{cite news |url=https://news.google.com/newspapers?id=oUZTAAAAIBAJ&pg=4618%2C3017892 |newspaper=Bend Bulletin |location=(Oregon)|agency=Associated Press |title=Floating green confronts players on Idaho course |date=June 13, 1991|page=E-8}}{{cite news |url=https://news.google.com/newspapers?id=JVtWAAAAIBAJ&pg=3721%2C6106093 |newspaper=Spokesman-Review |location=(Spokane, Washington)|title=Tee-off pier proposed for floating green |date=September 20, 1991 |page=B1 }} Its buildings were allowed to be burned in June 1988; local fire departments used it as a training exercise.{{cite news|url=https://news.google.com/newspapers?id=1r5YAAAAIBAJ&pg=6777,5665557|newspaper=Spokesman-Review|location=(Spokane, Washington)|last=Bender|first=David|title=Firefighters will get practice when mill is set ablaze in June|date=May 25, 1988|page=A9}}{{cite news|url=https://news.google.com/newspapers?id=rb5YAAAAIBAJ&pg=5034%2C4745147|newspaper=Spokesman-Review|location=(Spokane, Washington)|title=Judge says its OK to burn buildings at Potlatch mill|last=Goffredo|first=Theresa|date=June 8, 1988|page=A1}}

After 32 years in San Francisco, California, corporate headquarters of Potlatch were moved from One Maritime Plaza to downtown Spokane in 1997;{{cite news |url=https://news.google.com/newspapers?id=r7QpAAAAIBAJ&sjid=jPEDAAAAIBAJ&pg=4807%2C8505872 |work=Spokesman-Review |location=(Spokane, Washington) |last=Jones |first=Grayden |title=Potlatch picks Spokane for corporate HQ |date=May 20, 1997 |page=A1}}{{cite news |url=https://news.google.com/newspapers?id=waRfAAAAIBAJ&sjid=OjIMAAAAIBAJ&pg=6164%2C1398440 |work=Lewiston Morning Tribune |location=(Idaho) |last=Nelson |first=Lorraine |title=Potlatch to move its HQ to Spokane |date=May 20, 1997 |page=1A}}{{cite news |url=https://www.sfgate.com/business/article/potlatch-moving-out-of-s-f-new-headquarters-2840229.php |work=San Francisco Chronicle |last=Kouis |first=Arthur M. |title=Potlatch moving out of S.F. / New headquarters will be in Spokane |date=May 20, 1997 |access-date=September 4, 2023}} from 1931 to 1965, the company was based in Idaho at Lewiston.{{cite news |url=https://www.spokanejournal.com/local-news/a-look-inside-potlatch-corp/ |work=Spokane Journal of Business |location=(Washington) |title= A look inside Potlatch Corp.: new arrival is Spokane's biggest company |last=Read |first=Paul |date=December 4, 1997 |access-date=September 4, 2023}}{{cite news |url=https://news.google.com/newspapers?id=ALxeAAAAIBAJ&sjid=7DAMAAAAIBAJ&pg=5530%2C504960 |work=Lewiston Morning Tribune |location=(Idaho) |last=Harrell |first=Sylvia |title=If choosing again, PFI would still move its offices from Lewiston – Cancell |date=May 3, 1971 |page=3}}

In March 2002, Potlatch sold its Cloquet, Minnesota, pulp and printing papers facilities and associated assets to Sappi Limited for $480 million. This sale marked its exit from the coated printing papers business. Sappi closed the facilities and moved the production to its own plants in Maine at Skowhegan and Westbrook.{{cite web|url=https://www.nytimes.com/2002/03/19/business/company-news-sappi-to-acquire-potlatch-fine-paper-business.html|title=COMPANY NEWS; SAPPI TO ACQUIRE POTLATCH FINE PAPER BUSINESS|agency=Associated Press|access-date=May 14, 2018|work=The New York Times|date=March 19, 2002}}

In 2006, Potlatch restructured to form a real estate investment trust (REIT). In this restructuring all of the company's manufacturing operations are held by a wholly owned subsidiary, allowing the company to refocus on managing their large land holdings in Oregon, Idaho, Minnesota, and Arkansas.

In February 2018, Potlatch acquired Deltic Timber Corp., a smaller Arkansas-based timber company. Following the merger, the company was renamed PotlatchDeltic Corporation. The merged companies owned 2 million acres of timber in total.

The company owns {{convert|2100000|acre|sqmi km2}} of timberland in rural Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi, and South Carolina. Its forest products are processed at seven company-owned facilities.

In 2008, Clearwater Paper Corporation, previously a subsidiary of Potlatch, was created on December 9 via a spin-off with headquarters in Spokane; Gordon L. Jones, a vice-president of Potlatch, was the new company's president and CEO.

Shares of Clearwater Paper (NYSE:CLW) stock were distributed to Potlatch shareholders at a ratio of 1 share of Clearwater stock for every 3.5 shares of Potlatch stock held, with fractional shares paid in cash. Clearwater stock began trading on December 16, 2008.

In August 2012, since Clearwater Paper's stock had failed to rise, the company prepared to split in two and sell one or both businesses.[https://web.archive.org/web/20160306161807/http://in.reuters.com/article/saccapital-clearwaterpaper-idINL2E8JKILL20120820 SAC urges Clearwater Paper to ready itself for sale], Reuters, 21 August 2012

• Potlatch, Idaho

{{Reflist}}

• {{official|https://potlatchdeltic.com/}}
• [https://www.lib.uidaho.edu/digital/plcphotos/timeline.html University of Idaho Library] – Potlatch Lumber Company Photograph Collection

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Category:Companies based in Spokane, Washington

Category:Pulp and paper companies of the United States

Category:Forest products companies of the United States

Category:Real estate investment trusts of the United States

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