Two major integrated forest companies announced that...

Two major integrated forest companies announced that they plan to join forces under a single management group. British Columbia Forest Products Ltd. and Crown Forest Industries Ltd., both based in Vancouver, Canada, will operate as Fletcher Challenge Canada Ltd., subject to BCFP shareholder approval of the name change at a special meeting Sept. 2. The move has been approved by the boards of both firms. The new organization would consist of some 40 operations throughout North America with about 12,000 employees. New Zealand-based Fletcher Challenge Ltd. owns 100% of Crown and 69% of BCFP, which together earned $241 million last year on sales of $2.43 billion.