During the second quarter of 1996, the Company posted net earnings of $3,223,000, or $0.20 per share, compared with earnings of $3,943,000, or $0.25 per share, for the same period last year. Net earnings for the first half of 1996 reached $5,100,000, or $0.32 per share, compared with $11,710,000, or $0.76 per share, for the corresponding period in 1995.

A number of major investments made in the Saint-Michel-des- Saints OSB plant during the first quarter have begun to bear fruit. Forex St-Michel inc., OSB Division, will see a significant increase of approximately 30 percent in its production capacity to reach 450,000 cubic metres annually. Benefits will include a significant reduction in manufacturing costs along with a further increase in the quality of products bearing the FOREX ™.

posted by Administrator at 1:31 pm & filed under Euros |