39 ordspråk av John Dillon

John Dillon

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Although the economic problems in Southeast Asia continue to affect some of our major businesses, we've made significant progress in completing our restructuring program that was announced last July.

Due to wet weather conditions, our wood costs were much higher than expected. However, these costs were partially offset by lower purchase prices for other raw materials and the continued success of our cost-reduction program.

Prices on several of our key products have started to move up in the U.S. and some of our major Asian markets are beginning to recover from the economic problems of last year, ... Overall, business has clearly improved, and we are optimistic that the price increases we announced will be fully implemented during the second quarter.

Not only are our markets getting better and our internal cost-cutting programs succeeding, we are also seeing the benefits of our merger with Union Camp reflected in our earnings. Going forward, we will continue to manage production in line with our customer orders and not build inventory.

Our cash and stock offer is far more attractive to Champion shareholders,

There's no question in my mind we will be a stronger company.

We've got the best bid, we're excited about Champion, it's a company that fits very well with International Paper ( IP : Research , Estimates ). They're headquartered very close to our headquarters. Their businesses fit very well with ours - big printing papers business, an important wood and timber business - and they've got a nice, nice position in Brazil, as well as a position in Canada. We see $425 million in merger benefits from putting two U.S. organizations together.

not significantly impacted as the company translates its European earnings to the United States.

We've said all along that bringing together International Paper and Champion makes good sense because of the tremendous opportunities presented by a combined organization.

We cannot continue to operate

The external environment continues to be very difficult, ... We have continued to reduce our capacity to match demand from our customers, improved our operations and began to realign staff resources to better our financial results.

The timing of the economic recovery remains uncertain, ... We didn't see any meaningful impact from it on our sales volumes and revenues this quarter. So, I am very pleased with what we have been able to accomplish by focusing on those factors we can control.

This survey reflects that CEOs are more concerned about the weakness in the economy than they were six months ago.

At least 62 low-income countries need both immediate, unconditional debt cancellation and extra aid to meet the U.N. development goals.

These are difficult decisions impacting mills with a significant history for our company, ... However, the strong dollar has continuously weakened our export business in containerboard, while increasing imports of coated paper.

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