Potlatch Corporation (PCH) announced yesterday that its stock spin-off of its pulp based manufacturing division, Clearwater Paper Corp. will go ahead in the fourth quarter of 2008. They will be financing it differently than they had planned to when the board approved it in July, but otherwise it is still on.

If you did your homework when the original plan was announced back in July, you have some re-figuring to do, but they have laid it out pretty clearly in the 3rd quarter report. I say “pretty clearly” because while they say what they plan to do, right now there are some details missing. And, as you might guess, they exactly the ones that we need to figure out whether this is a good deal or not. Keep watching.

The most recent announcement on the stock spin-off can be found in the Potlatch Corp. 3rd quarter report.

Tags: Clearwater Paper Corp, PCH, Potlatch Corp, stock spin-off