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Buckeye Technologies, Inc.
722 documents for Buckeye Technologies, Inc.
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BUCKEYE TECHNOLOGIES INC. will close a facility in Canada by the end of 2012 in a move that will cost roughly $20 million and eventually terminate 95 jobs, according to a document filed with the SEC Friday. The airlaid nonwovens facility is in Delta, British Columbia and the site's proximity to customers is one reason Buckeye officials said it had to be shuttered.
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Strong demand for its products pushed second-quarter net income for Buckeye Technologies Inc. to $17.1 million, the Memphis-based company announced Wednesday. Excluding fuel credits, early debt retirement costs and restructuring expenses, adjusted net income was $20.3 million, or 50 cents per share, up from $8.8 million, or 22 cents in the year-ago period.
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Memphis-based Buckeye Technologies Inc. said an interruption at its Foley Plant in Perry, Fla., could cut pretax operating income by up to $5 million in the current quarter. The plant, which makes specialty wood cellulose and fluff pulp, was hit with a power failure and electrical surge June 17. The plant has resumed some operations, but many machines were damaged, Buckeye said.
