Wednesday, December 09, 2009
Top 10 USA Paper Companies Post Earnings
The USA largest pulp, forest, and paper companies posted earnings of $1.2Billion in the third quarter of 2009, versus $733Million in, 2008 for increase of $500Million. All but two companies posted positive or improved earnings. Note, this improvement was primarily a result of an estimated $1.1Billion of tax credits for the use of black liquor as a bio fuel to generate energy.
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3 comments:
They need to hope for a good paper market for 2010 - this credit will go away 1/1/10. I would bet several paper mills will be purchased or shut down without this credit. Is there a chart that confirms how much each paper company received in credits for 2009?
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