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UPM-Kymmene Corporation will sell its Rosenlew flexible intermediate bulk container (FIBC) operations to management and an international group of investors, of which the largest shareholder will be 3i Group plc. The purchaser intends to continue the manufacturing of bulk containers and to invest in further development of the business. The transaction is subject to approval by the competition autho... [more...]
Caraustar Industries, Inc. (Nasdaq: CSAR) today announced that revenues for
the first quarter ended March 31, 2003 were $253 million, an increase of 15.5
percent from revenues of $219 million for the same quarter of 2002. Net loss
for the first quarter of 2003 was $7.1 million, compared to first quarter 2002
net income of $499 thousand. Net loss per share for the first quarter 2003
was $0.26... [more...]
Natures own material wood plays a major role, when it comes to transport, packaging or preparation of food. Fruits and vegetables come to us in wooden boxes. Wooden cutting boards are in use in private kitchens as well as in restaurants. And also the pallets for food-transports have to meet high hygienic demands. “Wood and Food” – that’s what the new internet-site of Nordic Timber Council, Stock... [more...]
Most people in the forest products industry know about the inevitable replacement of key solid wood elements with engineered wood products (EWP) but what many people don’t know is the great speed at which EWP is taking over. Leonard Guss Associates announces the forthcoming publication of their new comprehensive report, EWP 2003: Where the Forest Industry Is Headed. "Our report concludes that shor... [more...]
Pope & Talbot announced that the Company lost $7.6 million, or $.49 per share, in the first quarter of 2003. For the same period a year ago, the Company lost $5.8 million, or $.37 per share. Revenues were $148.2 million for the quarter compared to $125.5 million for the first quarter of 2002.
Michael Flannery, Chairman and Chief Executive Officer stated, "While I am pleased with the substantial r... [more...]
International Paper reported first-quarter 2003 net earnings of $44 million ($0.09 per share), compared with a net loss of $1,110 million ($2.31 per share) in the first quarter of 2002 and a net loss of $130 million ($0.27 per share) in the fourth quarter of 2002. Amounts in all periods include the effects of special items, with the first-quarter amounts in both years also reflecting a cumulative... [more...]
The integrated Canadian forest products company Tembec reports consolidated gross sales for the second quarter ended March 29 reached $857.8 million, up from $848.7 million in the comparable period last year. The Company generated net earnings of $34.2 million ($0.40 per share), compared to a restated net loss of $63.0 million ($0.73 per share) in the corresponding quarter ended March 30, 2002, a... [more...]
UPM Kymmenes first-quarter earnings per share, excluding non-recurring items, were EUR 0.15 (0.22 for the fourth quarter and 0.30 for the first quarter of 2002). Operating profit, excluding non-recurring items, was EUR 175 million, 7.1% of turnover (fourth quarter: 219 million and 8.4%). The cash flow from operations per share was EUR 0.38 (fourth quarter: 0.84). Turnover was EUR 2,458 million (fo... [more...]
The forest industry association representing lumber, pulp and paper, panelboard and secondary manufacturers in Alberta applauded Economic Development Minister Mark Norris for putting the softwood lumber trade issue on his agenda as part of his trip to Washington to discuss cross-border trade concerns.
"We're certainly pleased Mr. Norris is going to raise this important issue during his meetings i... [more...]
The critical situation of global economy was once again confirmed by a significant decrease in orders (-11.1 percent from the same period of last year) that affected Italian woodworking machinery and technology in the first quarter of 2003.
This trend feeds the worries of an industry that seemed to glimpse early signs of recovery. But it was mere illusion, and the feeling that the Italian market... [more...]