Norampac has reported a net income of $24.3 million for the quarter that ended September 30. This compares to a net…
Norampac has reported a net income of $24.3 million for the quarter that ended September 30. This compares to a net loss of $11 million for the corresponding quarter in 2005.
“Despite the continued strength of the Canadian dollar, we again succeeded in improving our profitability due to the recent price increases for our products combined with lower fibre, energy and freight costs,” said Marc-Andre Depin, president and CEO.
Commenting on other events that took place in the quarter, Depin said, “Following an in-depth review of all our containerboad paper mills, we decided to proceed with the closure of our Red Rock unbleached kraft linerboard mill, for an indefinite period of time, which became effective on October 3, 2006.”
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