Plum Creek Finalizes Supply Agreement With Drax

Plum Creek Timber Company, Inc., today announced it has finalized a long-term fiber supply agreement with Drax, a leading power company in the United Kingdom that is transforming itself into a predominantly biomass-fueled power generator. Plum Creek will deliver up to 770,000 tons annually of sustainably-managed wood fiber to two U.S. pellet manufacturing locations during […]

Plum Creek Timber Company, Inc., today announced it has finalized a long-term fiber supply agreement with Drax, a leading power company in the United Kingdom that is transforming itself into a predominantly biomass-fueled power generator.

Plum Creek will deliver up to 770,000 tons annually of sustainably-managed wood fiber to two U.S. pellet manufacturing locations during the course of the 10-year contract. Drax plans to construct two pellet mills, one each in Mississippi and Louisiana, to convert wood fiber into pellets for export to its power station in the United Kingdom. Deliveries are scheduled to begin in 2014.

“This agreement further diversifies our customer base and represents a new and expanding market for our sustainably grown wood fiber,” said Rick Holley, President and CEO. “Plum Creek is proud to partner with Drax to work toward practical solutions that help develop sustainable energy, provide an attractive return for our investors, and create jobs in our communities.”

From Forest Business Network: http://www.forestbusinessnetwork.com/25969/plum-creek-finalizes-supply-agreement-with-drax/

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