Good results for CPIA in 2009
Canadian PlasticsEconomy Plastics Industry Economic Changes/Forecast
The Canadian Plastics Industry Association (CPIA) announced some positive financial results for the year endin...
The Canadian Plastics Industry Association (CPIA) announced some positive financial results for the year ending December 31, 2009, including an operating surplus for the year, compared to a deficit in 2008.
According to a public statement, the Toronto-based CPIA ended the year with reserves exceeding $1 million. “The financial turnaround of the association reflects successful execution of a recovery plan, as well as growing confidence in the industry’s future prospects and members’ shared concerns about unfounded, negative perceptions of plastics,” the statement said.
The organization credits the positive figures to a comprehensive restructuring program carried out last year. “The restructuring has delivered greater strategic focus, expanding membership, significant overhead cost reduction and monetization of non-core assets,” said Mark Badger, CPIA president and CEO.
CPIA also recently announced the addition of several new members from across the country during the first three months of 2010, continuing the expansion trend experienced in 2009. “These new members include brand-owners, resin manufacturers, machinery suppliers, service providers, recyclers and processors,” Badger said. “Our expanding membership confirms that our work to position the industry for success is being well received across the country and throughout the entire value chain.”