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Plum Creek’s Huge Housing Development in Maine Has Whitefish, Montana Wondering

Last Wednesday, Maine’s Land Use Regulation Commission signed off on a sweeping plan by Plum Creek http://www.plumcreek.com/ to develop 975 homes and two private resorts, some 2,000 housing units, on what once was working forest. It’s the biggest residential project in the state’s history.

The wilderness lake beneath Henry David Thoreau’s mountaintop perch laid bright on the land like a “gleaming silver platter.”

It was 1853, and the shining gem was Moosehead Lake in northern Maine. But it just as easily could have been 2008, looking down on Montana’s Whitefish Lake.

The two waterways have much in common. Ringed by mountains, shadowed by ski slopes, rugged, remote and rural.

And, coincidentally, land around both shorelines is owned by Plum Creek Timber Co.

It was, all agreed, a historic – and controversial – turning point for Maine’s wild North Woods.

By MICHAEL JAMISON of the Missoulian

Full Story: http://missoulian.com/articles/2008/10/05/news/local/news02.txt

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PLUM CREEK COMPLETES FORMATION OF JOINT VENTURE

Plum Creek Timber Co., Inc. (NYSE: PCL) today announced that on Oct. 1, 2008 it completed the formation of the previously announced joint venture with The Campbell Group LLC. https://www.campbellgroup.com/ The transaction allows Plum Creek to capture the value of approximately 454,000 acres in six southern states and values these timberlands at $783 million or approximately $1,725 per acre.

Additional information on the transaction is posted on the company’s Web site at http://www.plumcreek.com/investors.

http://www.plumcreek.com/tabid/73/itemid/672/Plum-Creek-Completes-Formation-Of-Joint-Venture.aspx

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