NewPage reports jump in sales
NewPage Corp. announced a 21% increase in sales for the second quarter of 2010 over the same period last year.
The Miamisburg, Ohio-based company, which owns a mill in Rumford, credits the increase to $890 million in the quarter to revived catalog and advertising business that had slumped in the second quarter of 2009, according to a company release. The gains were partially offset by losses of $174 million in the second quarter compared with $6 million in 2009, attributable to the company's loss of alternative fuel tax credits, which expired at the end of the year. The mill in Rumford received more than $300 million from the fuel tax credit for mixing black liquor, a byproduct of papermaking, with diesel, according to its filing with the U.S. Securities and Exchange Commission.
The company also cited lower prices as contributing to the loss. The price per ton of core paper in the second quarter of 2009 was $928, while the price in the same period this year was $852, according to the release.
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