Specialty fiber maker Buckeye net sales up 9.5% for April-June
03 Aug '05
3 min read
Buckeye Chairman, David B. Ferraro, commented, "Fiscal year 2005 was a year of improvement and recovery for Buckeye. They made considerable progress in restoring the Company's profitability and strengthened their balance sheet although their financial results still fell short of where they would like them to be."
Mr. Ferraro went on to say, "Cash flow in fiscal 2005 was particularly encouraging. Net cash provided by operating activities totaled $78.6 million, which enabled us to reduce the debt on their balance sheet by $67.1 million (from $604.0 million to $536.9 million). They remain committed to achieving further debt reduction in fiscal 2006 and beyond."
Buckeye is a leading producer & marketer of specialty fibers and nonwoven materials. The Company currently operates facilities in the United States, Germany, Canada, and Brazil. Its products are sold worldwide to makers of consumer and industrial goods.
Tennessee based Buckeye is the only manufacturer in the world offering cellulose-based specialty products made from both wood and cotton and utilizing wetlaid and airlaid technologies. As a result, we produce and market a broader range of cellulose-based specialty products than any of our competitors.
marketing@alchempro.com
