Mead Corp. expects its business to reflect
the slowing economy, as well as the impact of rising energy-related costs and a
strong U.S. dollar.
The company expects fourth quarter earnings
to be around $15 million less than the same period last year. Prices for coated
paper have continued to weaken during the fourth quarter. Rising imports are
leading to these declines. Market weakness has led to lower sales volume to
Mead’s customers, an unfavorable mix and the sale of excess inventory primarily
in offshore markets.
The company also expects earnings for its
Packaging and Paperboard segment to be down around $20 million from the same
time last year. The company cited weak market conditions fo the problem. The
company also noted that the market-related downtime at its Stevenson, Ala.,
corrugated medium will cost the company around $5 million this quarter.
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