24 October 2013 14:44 [Source: ICIS news]
HOUSTON (ICIS)--International Paper’s third-quarter net earnings rose 61% year on year to $382m (€279m) as margins continued to expand, the US-based pulp and paper major said on Thursday.
“Results were driven by solid operational performance and higher prices that more than offset a spike in wood costs," said CEO John Faraci.
International Paper’s sales for the three months ended 30 September were $7.4bn, up from $7.0bn in the same period a year ago.
The company uses a range of chemical inputs in its production processes, including caustic soda, starch, sodium chlorate, low-density polyethylene (LDPE) and latex.
($1 = €0.73)
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