Packaging Corporation of America, Lake Forest, IL, reported sales for the third quarter of $723.5 million, a 7.9 percent increase over the same period a year ago. Profit fell 4.8 percent to $39.8 million.
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For the first nine months, sales were $2.1 billion, a year-over-year increase of 7.2 percent. Profit fell 13.3 percent to $102.8 million.
“We had a very strong quarter in all aspects of our operations. Our mills ran extremely well setting an all-time production record, and both our containerboard and corrugated products demand remained strong. We implemented a $50 per ton domestic containerboard price increase during the third quarter and are now in the process of implementing a corresponding price increase for corrugated products, which we expect to essentially complete in the fourth quarter,” Mark W. Kowlzan, CEO, said.
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