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International Paper reported 2002 third-quarter net earnings of $145 million ($0.30 per share), compared with a net loss of $275 million ($0.57 per share) in the third quarter 2001 and net earnings of $215 million ($0.45 per share) in the second quarter 2002.
Third-quarter net sales were $6.4 billion compared with $6.5 billion for the same period in 2001 and $6.3 billion in the second quarter of... [more...]
Chile's exports of forest products grew by 2 per cent in July compared with the same month in 2001. The total volume sold abroad amounted to 683,000 tons for a value of US$181 million., according to figure released by Infor. El Diario reported this was insufficient to reverse an overall negative trend of the year to date.... [more...]
Australian Government forestry ministers have unanimously endorsed the new Australian Forestry Standard (AFS),the first Australian system for benchmarking and certifying sustainability in forest management.
Commonwealth Minister for Forestry Senator Ian Macdonald, speaking at the release of the Standard recently, said that Australia has a world-class sustainable forest management system for both... [more...]
The manufacturer of packaging products, tissue paper and specialized fine papers, Cascades, reports net earnings for the third quarter of 2002 of $34 million ($0.41 per share), compared to restated net earnings of $28 million ($0.34 per share) for the same period in 2001. The quarterly net earnings include a translation loss from US denominated debt of $4 million ($0.05 per share).
Net sales inc... [more...]
Rayonier announced that the purchaser of its New Zealand East Coast Timberland Operations has completed the transaction with the early payment of a $46.5 million note. In the second quarter, Rayonier sold its 83,000 acre East Coast operations to Huaguang Forests Co. Limited of China for $63.5 million. The agreement called for an initial down payment with the balance to be paid in installments by D... [more...]
Abitibi-Consolidated Inc. reported third quarter operating income from continuing operations of $29 million compared to $94 million recorded in the second quarter of 2002 and $207 million for the same period last year.
The change when compared to the second quarter is attributable to lower lumber pricing, countervailing and anti-dumping duties being imposed for the full quarter, higher lumber cos... [more...]
Rayonier reported third quarter 2002 income from continuing operations of $15.6 million, or 55 cents per share. This compared with $17.5 million, or 62 cents per share, in second quarter 2002 and $6.0 million, or 22 cents per share, in third quarter 2001. Net income of $15.7 million, or 56 cents per share, included post-closing adjustments of 1 cent per share related to the second quarter 2002 sal... [more...]
To ensure future competitiveness in SCA's tissue operations in the US, an investment project will be carried out in Florence, Alabama. The project is aimed at securing SCA's position in the southern US, reducing production costs, increasing efficiency for converting and improving proprietary supplies of base tissue (mother reels) through investing in a new tissue machine.
The US tissue market c... [more...]
International Paper Company announced that it has completed a private placement of $1 billion aggregate principal amount 5.85 percent notes due October 30, 2012, with institutional investors. The company has instructed Bank of New York, as trustee, to use the proceeds of the offering to retire a portion of the company's $1.2 billion aggregate principal amount 8 percent notes due July 8, 2003, by e... [more...]
UPM-Kymmene Corporation will make a cash purchase offer to all minority shareholders of Steyrermühl AG, UPM-Kymmene's subsidiary in Austria. UPM-Kymmene owns 99.1 per cent of the company shares. The acquisition of the remaining shares will amount to approximately EUR 2.6 million. The offer is valid until 22 November, 2002.... [more...]