Norampac Inc. reported net
earnings of $18 million for the first quarter, compared to net earnings of $20
million for the same quarter in 2000. Sales for the quarter were $274 million
compared to $291 million in 2000.
Average selling prices for
the quarter decreased compared to fourth quarter levels for both containerboard
and corrugated products. Energy cost continued to trend upward during the
quarter, however, a portion of the increase was offset by lower OCC cost. The
containerboard mills downtime during the first quarter totaled 31,000 tons,
representing 9% of capacity. This indicates the company's continued commitment
to maintain inventory levels at a manageable level.
Norampac is the largest
containerboard producer in Canada and the 9th largest in North America.
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