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United Stotes Plywood Reports Record Sqles

United States Plywood Corporation reports all-time quarter_ly_ record^earnings and sales foi the quarter ended July 31, 1959. As compared with the same pe- riod last year-the company's first fiscal quarter-dbl- lar profits almost doubled on sales which were up 35o/o.

Net earnings- were $4,006,000. Net earnings -in the same quarter of the preceding fiscal year were 92,057,- 000. E,stimated income taxis wer-e E3,544,000 and $11580,000 in the respective periods.

Sales for the quarter ended July 31, 1959, were an all-time high of $72,177,000 compaied with 933,362,000 in the three-months' period last vear.

pean techniques in wood and chemical technology. The plant, to supple-ment West Coast production of U.S. plywood's patented board, Novoply, will be located in Souih Boston, Virginia, on the Dan River.

Mr. Brewer said the new plant will enable U.S. plywood to expand its sales in the rapidly growing eastern rnarkets for particle _board. U -S. Plywo6ats WeJt Coast Novoply plant .at Anderson, California, he said, is rrow operating ;t capacity.

_ The spectacular growth of the particle board industry irr the United States is indicated by the following produi- tion figtrres (t/g" basis) :

It's looe ue h,ofie for our custonxers and wppli.ers! We need Aou as much as u)e need each other! Come a-calling, uon't gouP

EE ond EE SATES

1956 . 222 mlllion square feet

1957 366 million square feet

1958 500 million square feet

Mr. Brewer pointed out that particle boird to be manufactured in Virginia will 6e unusual in that it will be inanufactured from "round wood;" that is, fresh-cut logs. Conventionally, most particle board is manufactured fr"om residues of plywood and lumber operations. The Viriginia plant will require about 50,000 cords of "round wood'i p.. ie"r.

Big Poper Plont neqr Ripon

- Ripon, 9alif.-A g7 million paper-processing plant will be erected south of here by L_ei piper Co.,'Vicksburg, Mich., and the.Simpson_Paper Co., Everett, Wash., rn.r[- ing w.ith Lee. The San.Joaquin County plant will produfe a variety of paper products.