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International Paper reports Q2 profit slump
date:Aug 01, 2012
Operating profits were US$426m (347m) in Q2 2012, down from $462m in Q1 2012, with the quarter being a peak period for maintenance.

This included a boiler project in Mogi Guau, Brazil and a paper machine at Koryazhma, expected to start up in Q4 and a new fibre line at a mill in Bratsk, both in Russia.

The company added they had the first major outage in their Indian plant which lasted 34 days and they were seeing a 10% improvement in pulp production per day.

Quarterly net sales were $7.1bn

12/21 20:40