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Weyerhoeuser Stqrts Acquisition Of Roddis Plywood Corporqfion

Tacoma, Wash.-The general principles under which the properties of Roddis Plywood Corporation would be transferred to Weyerhaeuser Company in exchange for Weyerhaeuser stock have been agreed upon, it was jointly announced here June 2 by Norton Clapp, president-of Weyerhaeuser, and Carroll Blanchar, pr.esident of Roddis.

Under the memorandum of intent signed by the two companies, Roddis shareholders would receive .56 of a share of Weyerhaeuser stock for each share of Roddis. The transaction is subject to the negotiation of a definitive agreement, further examination of the Roddis properties by Weyerhaeuser, and approval by the stockholders of Roddis.

Roddis is a manufacturer of hardwood products such as veneers, a full line of door, lumber and plywood, and other hardwood specialities which are distributed through its own wholesale outlets located throughout the cbuntry.

Weyerhaeuser is a diversified producer of Western softwood lumber and plywood, as well as pulp, paperboald, and converted products.

The Roddis transaction will mark Weyerhaeuser's entry into the hardwood field. Clapp stated thai the Roddis business will be managed intact as a division of Weyerhaeuser.

Industriql Pork Neor Honford

Hanford, Calif.-The Kings County Planning Commission has approved establishment of a 480-acre industrial park development 2l miles south of here. The development was secured by the Kings County Industrial Park Foundation, which raised nearly $350,000 in pledges in a week-long campaign here. It results from the announcement that Armstrong Tire & Rubber Co. will establish a $25 million west-coast plant at Hanford and buy 320 acres of the industrial property but use only 100 acres of its purchase.

USPfywood R,eports Record Sqles, Eornings for First Six Months

Record sales and earnings for the first six months of its .{iscal year are announced by United States Plywood Corpoiation. Consolidated net earnings after taxes for the six months to October 31, 1959, amounted to $7,332,000, compared with net earnings from operations in the same period of 1958 of $5,189,500 after taxes.

For the quarter ended October 31, 1959, net earnings after taxes were $3,326,000. In the same period of 1958, profits from operations were $3,132,500.

Recbrd sales for the six months to October 31, 1959, same period last year. Sales for the quarter were $70,662,000, amounted to $142,839,@0, compared with $115,297,000 in the compared with $61,936,000 for the same quarter iast year.