Potlatch Corp. Goes for Biofuels

Potlatch CP (PCH) has announced a collaboration for a biorefinery pilot project for converting forest and agricultural waste to biofuels and other chemicals at its Cypress Bend, Arkansas, mill. ... According the company's BusinessWire press release, company officials are touting a potential to "reduce natural gas usage by 1,600,000 MMBTU per year and purchased electricity by 80,000 MWH per year." ... We can't quite recommend this stock, though, since at above $50 a share it trades at far too high a multiple. Still, good on 'em. ...

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