Norbord turns profit
February 2, 2006 By Pulp & Paper Canada
“We did an excellent job of containing costs,” said Norbord CEO Barrie Shineton of his company’s Q4 results. The co…
“We did an excellent job of containing costs,” said Norbord CEO Barrie Shineton of his company’s Q4 results. The company turned a profit of $52 million U.S. or 36 cents a share. This compares to a profit of $41 million U.S. or 26 cents a share from last year’s corresponding quarter.
“Our mills ran hard during the year,” Shineton said, “eight of our 11 mills achieved production records.”
The company’s predictions for 2006 are also positive, and are grounded in the fact that sales rose to $351 million from $335 million, due to increasing prices for oriented strand board. “In general, I believe we made excellent progress in almost every area of our business last year. We appear to be off to a strong start in 2006,” Shineton confirmed.
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