Tembec falls short
April 19, 2005 By Pulp & Paper Canada
Tembec has released an announcement that it anticipates its operating results for the second quarter, which drew to…
Tembec has released an announcement that it anticipates its operating results for the second quarter, which drew to a close on March 26th, will be lower than previously expected. The company earlier forecasted its EBITDA to be roughly $30 million. Although the final results are still reckoned to be ahead of those from the first quarter, the company now says the amount will be approximately $15 million less.
Despite heightened pulp prices, the rate of increase, particularly in the Asian market, has been slower than conjectured. Energy and chemical prices also exceeded foretold costs, and contributed to the shortfall.
The quarterly financial results will be released on April 28th, 2005.
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