<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 
CONSOLIDATED STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 1994, AND THE 
CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 1994 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1994
<PERIOD-END>                               DEC-31-1994
<EXCHANGE-RATE>                                      1
<CASH>                                          90,948
<SECURITIES>                                         0
<RECEIVABLES>                                  574,252
<ALLOWANCES>                                    12,167
<INVENTORY>                                    441,430
<CURRENT-ASSETS>                             1,178,781
<PP&E>                                      10,426,077<F1>
<DEPRECIATION>                               2,976,640
<TOTAL-ASSETS>                               8,963,628
<CURRENT-LIABILITIES>                        1,034,412
<BONDS>                                      2,889,252
<COMMON>                                        48,393
<PREFERRED-MANDATORY>                          300,000
<PREFERRED>                                          0
<OTHER-SE>                                   2,912,352
<TOTAL-LIABILITY-AND-EQUITY>                 8,963,628
<SALES>                                      5,318,192
<TOTAL-REVENUES>                             5,318,192
<CGS>                                        4,752,926
<TOTAL-COSTS>                                4,752,926
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             235,086
<INCOME-PRETAX>                                 88,256
<INCOME-TAX>                                    24,951
<INCOME-CONTINUING>                             63,305
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    63,305
<EPS-PRIMARY>                                     0.38
<EPS-DILUTED>                                     0.38
<FN>
<F1> INCLUDES TIMBER AND TIMBERLANDS
</FN>