Business
Mercer International Inc. Reports Record 2006 Third Quarter Results
Mercer International Inc. Reports Record 2006 Third Quarter Results.
About this update from Mercado Minerals Ltd.
[{"type":"text","content":"\n\n\n\n\nNEW YORK, Nov. 6 /CNW/ -- Mercer International Inc. (Nasdaq: MERC), (TSX:\nMRI.U) today reported results for the third quarter of 2006.\n\nHighlights of the 2006 Third Quarter\n\n>\n\nMr. Jimmy S.H. Lee, President and Chairman, stated: \"During the third\nquarter of 2006:\n\n>\n\nMr. Lee continued: \"We are continuing to see improvements in pulp prices\nand demand in all of our markets which we currently believe should result in\nhigher prices in the upcoming months. In October 2006, list NBSK prices\nincreased to approximately $730 per ton in Europe and approximately $700 per\nton in Asia. These price improvements are being partially offset by upward\npressure on fiber prices.\"\nMr. Lee concluded: \"Looking forward for the balance of the year, we\nexpect the current strength in pulp markets to continue and, with our large,\nmodern and efficient pulp mills, we are well positioned to generate solid\nresults for our stakeholders.\"\n\nSummary Selected Highlights\n\n>\n\nThree Months Ended September 30, 2006 Compared to Three Months Ended\nSeptember 30, 2005\nRevenues for the three months ended September 30, 2006 increased to euro\n175.2 million from euro 148.9 million in the comparative period of 2005,\nprimarily due to higher pulp prices and sales from our Stendal pulp mill. Pulp\nsales by volume increased to 338,201 ADMTs in the third quarter of 2006 from\n332,282 ADMTs in the comparative period of 2005.\nCost of sales and general, administrative and other expenses in the third\nquarter of 2006 decreased to euro 140.8 million from euro 141.0 million in the\ncomparative period of 2005.\n\n>\nFor the third quarter of 2006, revenues from our pulp operations\nincreased to euro 164.9 million from euro 133.4 million in the same period a\nyear ago. List prices for NBSK pulp in Europe were approximately euro 556\n($708) per ADMT in the third quarter of 2006, euro 529 ($665) per ADMT in the\nsecond quarter of 2006 and approximately euro 476 ($580) per ADMT in the\ncomparative third quarter of last year.\nMill net pulp sales realizations increased to euro 482 per ADMT on\naverage in the third quarter of 2006 from euro 398 per ADMT in the third\nquarter of 2005, primarily as a result of higher prices.\nCost of sales and general, administrative and other expenses for the pulp\noperations increased to euro 132.8 million in the thi...