| Poor results at paper producers |
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| Date:2010-08-12 |
| The beleaguered paper industry suffered a fresh blow on Thursday when the worlds two largest producers, Finlands Stora Enso and International Paper of the US, both published weak second-quarter results and unveiled gloomy forecasts for the months ahead. Stora Enso said the sluggish international economy, Iraq (news - web sites) war, weak dollar and industry overcapacity had depressed demand for its products and sent second-quarter net profit 59 per cent lower year-on-year to EU56.3m. International Papers second-quarter net earnings fell by the same factor as its Finnish rivals - 59 per cent - to $88m from a year-earlier figure of $215m. Clare MacCarthy, Copenhagen |
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