Tolko Wins Battle For Riverside

International Forest Products has thrown in the towel in the battle for Riverside Forest Products, Kelowna, B.C. (see Sept., p. 52).

Representatives for Vancouver, B.C.-based Interfor said they decided to abandon their bid for Riverside after a sharply upgraded, $323 million counter offer from Tolko Industries.

Tolko initially offered $270 million in a hostile takeover. Interfor followed with a $290 million offer rhar was more warmly received by Riverside.

To fend off Tolko's first bid. Riverside adopted a limited duraton shareholder rights "poison-pi11" plan, which reduced the number of shares that would be issued to all stockholders except Tolko. The plan has been revised since the B.C. Supreme Court voided the previous one for technical reasons.

Riverside said the purpose of the limited-duration plan was to give its shareholders the benefits afforded by the original rights plan.

"Tolko is extending its bid in order to further evaluate its options, especially in light of the unprecedented new tactical poison pill adopted by Riverside's board," said Trevor Jahnig, Tolko's chief financial officer.

Riverside's board of directors said it was impressed with this "superior proposal." At the time, Gordon Steele. Riverside's chairman. president and c.e.o., responded, "With Tolko now having come forward, we will wait to see what Interfor does and will communicate further with shareholders in due course. As has been the case from day one, we will continue to be guided in this process by what is in the best interests of all Riverside shareholders."

Interfor had five business days to match or beat Tolko's offer, but ended up walking away.

"We have concluded that increasing our offer or significantly revising the form of consideration offered to Riverside shareholders would be inconsistent with our financial discipline and not in the best interests of our existing shareholders," said Interfor president and c.e.o. Duncan Davies. "We have a great deal of respect for the Riverside organization and its people, and we believe the two companies together would have been a very good fit."

Interfor terminated the lock-up agreements with Riverside executives, who had agreed to tender their shares to the Interfor offer. Under the terms of the terminations. Interfor has received a break fee of $l I million from Riverside.

Weyerhaeuser Makes Waves

Approximately 150 Weyerhaeuser employees recently earned $7,500 for five schools and nonprofit organizations in Lane County, Or. The workers were part of the Making WAVEs program (Weyerhaeuser Active Volunteer Employees).

The nonprofits received donated labor and qualified for grants ranging from $1,000 to $5,000.

"We created Making Waves to foster volunteerism and support employees' good works," said Liz Crossman, president of Weyerhaeuser Company Foundation. "The program provides an invaluable opportunity for employees working with community groups and schools to donate their time, energy and skills."

Over the last 20 years, the foundation has awarded over $2 million.

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Steven Hofer has joined Interfor Pacific, Portland, Or., as general mgr.-sales & marketing. Darrel Hanson is new as sales mgr. of the Washington division.

Denny McEntire has been promoted to sales & marketing mgr. for Harwood Products, Branscomb, Ca.

David Fuhriman, ex-Crown Pacific, has joined Boise Cascade, Lake Oswego, Or., purchasing boards and hemlock dimension. Scott Sunday has transferred from Denver, Co., to Billerica, Ma., managing OSB and the procurement department.

Darrel Garoutte has been promoted to v.p./general mgr.-western operations at U.S. Timber, Eagle, Id.

Bill Koll, formerly with Cameron Ashley and Tree Source, has joined Epoch Composite Products, Inc. as Northwest region territory mgr., overseeing EverGrain Decking sales in Oregon, Washington, Idaho and Alaska.

Jeff Baumgartner, ex-Jerry G. Williams & Sons, is a new account mgr.-OEM division for Capital Lumber Co., Phoenix, Az. Nathan Hokenson, ex-Humphrey Lumber, is a new account mgr. in Denver, Co., and Sean Stewart, ex-IWP, is a new account mgr. in Tacoma, Wa.

Greg Olsen has been named marketing mgr. for Murphy Plywood, Sutherlin, Or.

Mike Towne is a new mgr. trainee at 84 Lumber Co., Auburn, Ca.

Ernesta Ballard, commissioner of the Alaska state Department of E,nvironmental Conservation. has been named senior v.p.-corporate affairs for Weyerhaeuser Co., Federal Way, Wa. She replaces Mack L. Hogans, who has retired after 25 years with the company. Charles R. Williamson, Unocal Corp., and D. Michael Steuert, Fluor Corp., have been appointed to Weyco's board of directors.

Chad Ziegler, Riverside Forest Products, Kelowna, B.C., was promoted to stud coordinator.

Ryan Lucchetti, ex-Pacific Supply, has joined the N. California/ N. Nevada sales force for Pabco Roofing Products, Tacoma, Wa.

Gary O'Hearn has been appointed general mgr. of Minnesota distribution division of Reid & Wright, Bend. Or.

Lee Freeman. ex-Liaison Technologies, will replace retiring Bob Legg Jan. I as president and c.e.o. of the Temperate Forest Foundation. Beaverton. Or.

J. Johnson, The Hardware Store, Maple Valley, Wa., has been elected to the Do it Best Cory. board.

Chris Sentman has been promoted to plant mgr.-assembly for Canyon Creek Cabinet Co., Monroe, Wa. Subramanyam "Subutt Pamidimukkala is now plant mgr.-finish dept.; Ivan Neilsen, plant mgr.components, and Roberta Mackie, plant mgr.-product fulfillment.

Kendall Hoyd, co-owner and president, Idaho Truss & Component Co.. Boise. Id.. has been elected president of the Wood Truss Council of America.

Kenneth D. Kuehn has joined Huttig Building Products as v.p.-national accounts division. Donald L. Glass, former president and c.e.o. of Timber Co.. was elected to Huttig's board of directors.

Richard Matzke, ex-TruServ, has been named v.p.-merchandising & advertising at Distribution America, replacing Paul Michalowski, who left the company in July.

Vijay Singh, top-ranked pro golfer, inked a sponsorship agreement with 84 Lumber Co. John Daly has extended his deal with the chain.

William "Bill" Bolton, Leo J. Shapiro & Associates, was named to the board of Ace Hardware Coro.

Keith Ellard has been named Far West regional mgr. for Federated Insurance, Sacramento, Ca. He succeeds Jerry Hartmanno who relocated to Owatonna, Mn., to become director of field services.

Steven Ai and sister Carol Ai May, City Mill Home Improvement Centers, Honolulu, Hi., were named Retailers of the Year by Retail Merchants of Hawaii.

Francis Engle, owner, chairman & founder, Starfire Lumber Co., Cottage Grove, Or., and Dan Keller, sales mgr. & owner, Keller Lumber Co., Roseburg, Or., were awarded prestigious Tough Tree Awards by the Douglas Timber Operators for their "working hard, struggling and sacrificing for their communities."

Curt N. Rod has been hired to redecorate the offices at Mungus-Fungus Forest Products, Climax, Nv., report co-owners Hugh Mungus and Freddy Fungus.

Pnlco Ordered To Pay

Pacific Lumber Co., Eureka, Ca., was ordered to pay $6 million in an environmental lawsuit involving documents submitted in the Headwaters Forest agreement.

The judge's decision to make Pelco pay follows a ruling last year that struck down the state's plan, the Sustained Yield Plan.

The Sustained Yield Plan, which instructed PlLco on how to carry out its logging on more than 200,000 acres of forestland.

Weyerhaeuser Earnings Soar

Weyerhaeuser Co., Federal Way, Wa., reports that, due in part to good marketing conditions for its wood and paper products, its third-quarter earnings have increased more than seven times from last year's levels. Stock shares went up $1.11 to $62.25 in early trading Ocl22 on the New York Stock Exchange.

Steven Rogel, chairman, president and c.e.o., said Weyerhaeuser benefited from ongoing efforts to be more cost-effective.

"We have created meaningful, per- manent changes that have made us more efficient," he said.

In the current fourth quarter, Weyerhaeuser executives are expecting normal seasonal downturns, and said that lumber and structural panel prices were expected to decline from third-quarter levels. Nonetheless, Weyerhaeuser is expecting its fourth- quarter earnings to improve over the fourth quarter of last year, but to be down from the third quarter of this year.

Weyco's revenue for the third quarter was $5.85 billion, up nearly l3vo from $5.18 billion in third quarter of last year.

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SIERRA PACIFIC recently held its 26th annual open house at company Hq. in Anderson, Ca. (1)Bob Palacioz, Gene Pietila, Ben Leany. (2) Tim Maxwell, Doug Heppedon, Jim Haney. (3) Daryl Turner, Larry Holguin, Greg Gormon, Orville Chedester. (4) Gordon Roby, Mike Mackin, John Ferguson. John Jacino. (5) Kevin Murray, Don Pofier, (6) Elaine & Dick Jackson (7) Kellie Schroeder, Kim Lister. (8) Dean Winters, Charlie Schweitzer, J.R. Righthowar. (9) Rick Parken, Don Bratcher, Brian Simmen. (10) Scott Mackechnie, John Grove, Greg

Mitchell, Marty Fox. (11)Wade Gregory, Pat Gilbert, Jack Martin. (12) John Robertson, Steve Schultens. (13) Terry Johnson, Dale Martell. (14) Barry Schneider, Lorena Marodi, Daniel Hines. (15) Jim Skinner, Mike Bleck, Bill Black. (16)John Spaulding, Steve Hagen. (17)John Morrison, Cecil Welsel. (18) Neslor & Janet Pimentel, Mike Luza. (19) Tiger Michiels, Mark Jantzer, Wait Schneider. (20) Jeff Squires, Mike Croxton, Chris Lang. (21) Greg Chase, Lynn Herbert. (22) Kendall

Pierson, Josh Tyler (More photos on next page)

HUNDREDS attended SPI's open house (conflnued from p.5B): (1) Bob Bretz, Sean Burch. Doug Radestock. (2) Mike Carey, Red Emmerson, Tom Gilstrap. (3) Scott Beery, Dixie Tibbets, Bob Crews, Eric Ford. (4) Greg Thom, Troy Ingolia. Terry Sperling, Pete Reyneke, Mark Pavlak. (5) Tod Holmes. (6) Penny Scott. Sharon Small. (7) Tommy & Judy Davis, Tom Von Moos, (8) Jeff Linden, Tim DeCoito, Lee Nelms, (9) Steve Crane. Laura &Joe Derrah. (10) Rich Stolz, Bob Pressano. (11) Ralph Cardwell. Bill Weber, Scott Cardwell. (12) Paul Harlan. Jay Francis, Mike

Backes. (13) George Kallas, Todd Pollard, Tim Mclndoo. (14) Mark Young, Richard Smallridge, lan Firth, Jose Padilla, Humberto Benedetlo. (15) Greg Simpson, Joe Hoglund, Darryl Linke, Larry Moss, Danny Osborne. (16) Steve Stevenson, Monte Acquistarpace, Darren Duchi. (17) John Diederich, Mike Carter. Guy Packer. (18) Andy Fairclolh, George Emmerson. (19) Ed Soler Tess Hutton-Lindsey, Humphry Wildeboer. (20)

Dale McCormick, John Stembridge (21) Greg & Carole Moss, (22) Bob Shepherd, Ted Roberts, (23) Vince Vierra, Kristi & Michael Ross.

2ND GROWTH group oi the Lumber Association of California & Nevada met Oct. 7 n Long Beach. Ca.. for an engineered wood seminar (1)Grant Pearsall. Steve Iawrence. (2) N/att Swanson, Rene Vargas, Matt Latendresse, Lance Devol (3) Boger Roatch, APA presenter Jenni{er Cover (4) Chris Hunt ngton Barrett Burt (5) Kyle Bader, Mike Shumaker, Bay Med na. (6) Mike Garrty, John Hollsteln, Doug Willis. (7) Krislin Bucy, Victoria Mako. (8) Brand Lyon. Kristen Maahs, Deonn DeFord. (9) Marc Spitz, Daniel Hines. (10) Judy Grinder, Rick Deen. (1 1) Johnny Springer, Scott Derham. (12) Kerr & R ck Anfrnson. (13) Chris Freeman, Dave Dumoulin, Nick Larr, (14) John Lopez, Johnny Pringle (15) William Wora, Chris Parker, Mike Born. (16) Randy Jackson. Bill Humphrey, (17) Shawn Knight, Jason Schulze, Jermaine Burton. (18) John Neel, Rex Klopfer, (19) Chrls Upton, Howard Parker

BOISE Building Solutions, Riverside, Ca., held its 1st open house Oct,6, (1) Mike Bland, Ed Kliem, Jerry Pugmire. (2) Michael Gagnier, Frank Elfering, Bob Ogletree. (3) Raymond Tones, Kristin Bucy, Adam Scott. (4) Frank Demarinis, Terry Garrett. (5) Ralph Garcia, Dong Hinh. (6) Jason Beverly, Scott McMurtrey, Thys DeVries, Dan Hagedorn. (7) Tom Zweygardt, Tom Byron. (8) Michael Seeds, Steve Hollingworth. (9) Gary Barnes, Chris Thoman, Kent Hammond. (10) Ron Hillman, Bev Can. (11) Mike Taylor, Craig Christiansen. (12) Ray Miller, Ryan Potter, Anthony Culberson, Rick Leon. (13) Oliver Barnes, Richard Stamsek. (14) Steve & Kathy Thurgood. (15) Bob Thompson, Jim Enright, Greg Green.