Idaho

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Boise Cascade To Start Selling Its Stock Again

Molly Messick / StateImpact Idaho

The Idaho Statesman reports Boise Cascade LLC plans to go public after nine years as a privately-held company.

Eighty percent of Boise Cascade is held by Madison Dearborn Partners, a Chicago private-equity firm. The status change will make money for Madison Dearborn, spokesman John Sahlberg said.

With the stock offering, about 25 percent of the company will become public. Boise Cascade plans to sell 11.7 million shares to the public and will allow the firms underwriting the sale to buy an additional 1.8 million shares. With an expected opening price of $16 to $18 per share, the sale would raise an estimated $200 million to $250 million.

The new company has conditional approval to be listed on the New York Stock Exchange. It will be called Boise Cascade Co. and be traded under the symbol BCC. – Idaho Statesman

As the Statesman reports, Boise Cascade was created in 1957 when Cascade Lumber Co. and Payette Lumber Co. merged.

The wood-products company was hit hard by the housing boom and bust. The Idaho Statesman reports Boise Cascade lost $358 million between 2008 and 2011.

Comments

  • AngryWife

    Currently, Boise Cascade of Alexandria, LA is the worst company to work for. They are currently working 6 days a week on days and 7 on nights. They do get days off but employee morale is so low at this point that they do not feel like they get enough time off. The managment is trying their best to break their backs and their spirits.
    BC used to be such a great company but after the recession hit there was a change in management and a lot of changes in the schedule. They really could make it easier on the guys if they wanted to, maybe not with the schedule, but with how they treat the employees. Instead of management going out to eat every day they can have a cookout for they guys at the mill, reinstate family day, and give them monetary incentives to be their best like they use to do. Actually be a company that cares about family again! Are they so broke that they can not do this?
    What really makes me angry is that one of the employees was recently fired for being negative in the work place. He was complaining about new hires not pulling their share. Because of all the changes BC lost a lot of good workers and the new hires do not last long, its hot hard work.

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