July 29, 2010
Forestry company Norbord Inc. returns to profitability
TORONTO
Forestry company Norbord Inc. returned to profitability in the second quarter as sales volumes and North American pricing improved along with the resurgence in construction activity.
The wood panel maker reported its net income was US$37 million contrasted with a loss of $18 million or 42 cents per share in the second quarter of 2009.
The Toronto-based company, part of the Brookfield Asset Management group, has struggled with the prolonged downturn of house construction in North America and Europe.
Norbord’s main product is oriented-strand board, a type of wood panelling that is a popular substitute for plywood in the construction industry.
Canadian Press
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