PCA to sell timberland

Packaging Corp. of America (PCA), Lake Forest, III., has entered into an agreement to sell approximately 385,000 acres of timberland to Southern Timber Ventures, LLC. The sale will provide PCA with about $250 million in cash to pay their debt as well as a long term fiber supply agreement. As a result of PCA's equity interest in Southern Timber Ventures, they will be able to retain a portion of the potential long term appreciation of these timberland assets.