KapStone Paper and Packaging Corporation recently reported results for the first quarter ended March 31, 2011.
Roger W. Stone, Chairman and Chief Executive Officer, stated, "KapStone achieved record first quarter results. We produced 323,000 tons of paper, a record when measured on a daily basis, and ran at a record operating rate of over 100%. Average selling prices of $618 per ton increased by $83 compared to the first quarter of 2010 and were up $123 compared to the trough reached in the third quarter of 2009. In addition, in March 2011, we announced price increases for our kraft paper and Kraftpak® products."
In summary, Stone commented, "We believe that KapStone's second quarter of 2011 and the remainder of the year will benefit on an increasing basis from the realization of announced price increases. With a solid base of bookings and large backlogs, we expect strong operating performance. We are focused on maintaining strong cash flows, growing the company profitably and increasing shareholder value."
