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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): January 24, 2024
BOISE CASCADE COMPANY
(Exact name of registrant as specified in its charter)
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Delaware |
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1-35805 |
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20-1496201 |
(State or other jurisdiction of incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
1111 West Jefferson Street, Suite 300
Boise, Idaho 83702-5389
(Address of principal executive offices) (Zip Code)
(208) 384-6161
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
Common Stock, $0.01 par value per share |
BCC |
New York Stock Exchange |
Item 7.01 Regulation FD Disclosure.
On January 24, 2024, Boise Cascade Company issued a press release announcing new investments in Alabama and Louisiana in support of its engineered wood products growth strategy. The press release is furnished hereto as Exhibit 99.1 and incorporated by reference into this Item 7.01.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
The following exhibits are furnished as part of this Current Report on Form 8-K:
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Exhibit No. |
Description of Exhibit |
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101 |
Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. |
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104 |
The cover page from this Current Report on Form 8-K, formatted as Inline XBRL. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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BOISE CASCADE COMPANY |
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By |
/s/ Jill Twedt |
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Jill Twedt Senior Vice President, General Counsel and Secretary |
Date: January 24, 2024 |
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EX-99.1
2
ex991bccbusinessupdate2024.htm
PRESS RELEASE
Document
Exhibit 99.1
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Boise Cascade Company |
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1111 West Jefferson St Ste 300 |
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Boise, ID 83702 |
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Media Contact
Lisa Tschampl
mediarelations@bc.com
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Investor Contact
Kelly Hibbs
investor@bc.com
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For Immediate Release: January 24, 2024
Boise Cascade to Invest Additional $140MM to Support EWP Growth Strategy
BOISE, Idaho – Boise Cascade Company (“Boise Cascade” or the “Company”) (NYSE: BCC) today announced new investments in Alabama and Louisiana in support of its engineered wood products (EWP) growth strategy.
In Alabama, the Company is adding I-joist production capabilities to its Thorsby EWP mill and converting a plywood layup line to a parallel laminated veneer line at the Chapman plywood facility. The Chapman investment adds to its important integration into the Company’s EWP growth plans. In addition, the Chapman plywood facility extended employment opportunities to approximately 50 of the 80 associates affected by the recently announced Chapman lumber operations curtailment. At its Oakdale, Louisiana facility, major projects planned include the upgrade and redesign of the log utilization center, a new veneer dryer and press, and modification of an existing veneer dryer. These investments are expected to take place over a two-year period.
“We are looking forward to these major expansions and upgrades to further solidify our market position in EWP,” said Chris Seymour, SVP, Wood Products Manufacturing Operations. “We have great teams in the southeastern U.S. and are pleased to further invest in our meaningful asset bases in Alabama and Louisiana.”
On a total Company basis, our current estimate of capital expenditures for 2024 is $250 million to $270 million. This range includes the investments above and spending on the previously announced greenfield distribution centers in Hondo, Texas and Walterboro, South Carolina in our Building Materials Distribution segment.
About Boise Cascade
Boise Cascade is one of the largest producers of engineered wood products and plywood in North America and a leading U.S. wholesale distributor of building products. For more information, please visit our website at www.bc.com.
Forward-Looking Statements
This press release includes statements about our expectations of future operational and financial performance that are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, but not limited to, statements regarding the expected capital expenditures and the timing of our capital investments. Statements preceded or followed by, or that otherwise include, the words “believes,” “expects,” “anticipates,” “intends,” “project,” “estimates,” “plans,” “forecast,” “is likely to,” and similar expressions or future or conditional verbs such as “will,” “may,” “would,” “should,” and “could” are generally forward-looking in nature and not historical facts. Such statements are based upon the current beliefs and expectations of our management and are subject to significant risks and uncertainties. The accuracy of such statements is subject to a number of risks, uncertainties, and assumptions that could cause our actual results to differ materially from those projected, including, but not limited to, prices for building products, changes in the competitive position of our products, commodity input costs, the effect of general economic conditions, mortgage rates and availability, housing demand, housing vacancy rates, governmental regulations, unforeseen production disruptions, as well as natural disasters.
These and other factors that could cause actual results to differ materially from such forward-looking statements are discussed in greater detail in our filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of this press release. We undertake no obligation to revise them in light of new information. Finally, we undertake no obligation to review or confirm analyst expectations or estimates that might be derived from this release.