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December 3, 2008

Potlatch to spin off manufacturing firm

LEWISTON, Idaho (AP) — Potlatch Corp. will spin off a company in northern Idaho on Dec. 17, separating its manufacturing business from its timber holdings.

Potlatch said Monday it will create a new company based in Lewiston called Clearwater Paper, which will make pulp, paperboard and tissue products. The announcement follows a ruling by the Internal Revenue Service that the spinoff can take place without the potential of tens of millions of dollars in taxes.


 
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