Sealaska To Exit Logging Business

Southeast Alaska’s regional Native corporation Sealaska, one of thirteen Alaska Native Regional Corporations, announced on Monday (1/11) that after 40-years they are transitioning out of the logging business. Until now, Sealaska was a major player in the region’s timber economy with more than 360,000 acres in its portfolio. Sealaska CEO Anthony Mallott said in a statement, “Logging created value for our Alaska Native shareholders for decades, and it brought us to where we are today. We’re grateful for the commitment and professionalism that led to our success. But we’ve now built an organization that can thrive well into the future, and that means engaging in activities with more enduring benefits for our communities.” The Juneau-based Native corporation says the transition is not expected to affect future profits or dividends. In a joint statement released by the corporation they says the decision is part of a long-term plan to generate “sustainable value” for shareholders.