Temple-Inland reports decline in Q3 profit

20 October 2011 (Last Updated October 20th, 2011 18:30)

US cardboard-box maker Temple-Inland has posted a decline in net income with $6m in Q3 2011 compared to $125m last year.

US cardboard-box maker Temple-Inland has posted a decline in net income with $6m in Q3 2011 compared to $125m last year.

In the second quarter of this year, the firm's net income was $19m.

The company's corrugated packaging segment reported operating income of $84m for the quarter, hurt by lower shipments.

The firm said pre-tax costs of the operational upset at the Bogalusa paper mill in Louisiana, US, was about $20m in the quarter and total mill downtime in the quarter stood at 58,000t, 54,000t of which was at the Bogalusa mill.

Box shipments in the fourth quarter are lower than the third quarter by about 15,000t to 20,000t, due to fewer shipping days.

Last month, global paper and packaging company International Paper reached a definitive merger agreement to acquire Temple-Inland for $3.7bn.