Fiberboard plant's sale is completed
Roseburg Forest Products said Wednesday that it has completed its purchase of Del-Tin Fiber, a medium-density fiberboard plant in El Dorado.
Roseburg, based in Springfield, Ore., announced in December its plans to buy the plant from PotlatchDeltic Corp. PotlatchDeltic, which is publicly traded, said Roseburg would buy the Del-Tin plant for $63 million in cash and the assumption of $29 million in revenue bond obligations.
Founded in 1936, Roseburg produces particleboard, fiberboard, plywood and other lumber and owns or manages more than 600,000 acres of timberland in Oregon, North Carolina and Virginia.
The El Dorado plant is Roseburg's third purchase of a medium-density plant in four years, the company said.
-- Stephen Steed
Gas Pos, Twilio team on fuel transactions
Gas Pos, a startup company that moved its headquarters from Alabama to North Little Rock last year, is working with cloud communications platform Twilio to deliver a new method for truck-stop retailers to handle fuel card transactions, the companies announced this week.
Gas Pos provides point-of-sale systems for independent truck stops and convenience stores. It moved to Arkansas after competing in the FIS FinTech Accelerator program last year.
Independent gas retailers are installing gasoline pumps with chip card readers by 2020, replacing pumps that have only magnetic-strip card readers.
"Truck stops are being walloped," said Joshua Smith, Gas Pos' chief executive officer. "We have customers that lose [thousands of dollars] a month per location. ... Our partnership with Twilio allows us to offer a solution at scale for a fraction of the cost of [existing] systems."
Twilio is a public company traded on the New York Stock Exchange.
-- David Smith
Arkansas Index adds 1.53 as 10 stocks rise
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 1.53 to 419.30 Wednesday.
Ten stocks rose, four fell and one was unchanged.
"The S&P 500 Index closed higher for the fourth-straight day on continued optimism regarding U.S. and Chinese tariff discussions along with the congressional agreement to avoid a government shutdown scheduled for Friday," said Leon Lants, managing director at Stephens Inc. in Little Rock. "Energy stocks outperformed following a pledge by Saudi Arabia to lower crude oil output."
Total volume for the index was 16.3 million shares.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 02/14/2019