It was a difficult quarter for Catalyst Paper.
It was a difficult quarter for Catalyst Paper.
The company recorded a net loss of $25.6 million on sales of $478.1 million in the first quarter of 2007, a loss it attributes to weaker paper prices, rising fibre prices, restructuring costs and higher planned major maintenance costs.
Today we are benefiting from the cyclical strength in pulp prices as we focus on streamlining and efficiency across all parts of the business, president and CEO Richard Garneau said. At the same time, we are managing our input costs tightly, with close attention to the upward trend in fibre prices as severe weather and sawmill curtailments continued into the first quarter.
Catalyst announced a new restructuring program in February, which will see the cutting of roughly 350 positions sometime this year.
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