Tembec posts Q1 loss
January 24, 2005 By Pulp & Paper Canada
It’s been a tough quarter for Tembec. The forest products giant posted a whopping $73.9 million operating loss, fal…
It’s been a tough quarter for Tembec. The forest products giant posted a whopping $73.9 million operating loss, falling victim to pressures imposed by sinking pulp prices and a soaring Canadian dollar. Exponential wood and energy costs have also hit not only Tembec, but numerous industry players, hard. However, CEO Frank Dottori has confirmed his confidence that pulp prices will soon be on the upswing, prompting higher selling prices once demand improves. Until such a time the company is maintaining a defensive approach, through the restriction of capital expenditures while controlling costs and maintaining liquidity.
Print this page