Report from PPI Weekly
Earnings for 27 publicly traded U.S. paper and forest product companies plunged 96.9% in the first quarter 2009 compared to a year ago, according to PPI Pulp and Paper Week. The decrease was on top of an 87% drop in fourth quarter 2008, versus fourth quarter 2007. Eleven publicly traded Canadian pulp, paper and forest product companies posted a first quarter loss of C $640.8 million. The loss was nearly double the C $385.5 million loss in last year’s first quarter.
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