Canadian Plastics

CPI Plastics Group posts 2005 loss of $10.5 million (June 01, 2006)

Canadian Plastics   



Mississauga, Ont.-based extruder CPI Plastics Group posted a loss of $10.5 million in 2005, reversing a profit of $3.3 million the previous year, the company said in a statement....

Mississauga, Ont.-based extruder CPI Plastics Group posted a loss of $10.5 million in 2005, reversing a profit of $3.3 million the previous year, the company said in a statement.

The publicly-traded company attributed the loss to a $10.8 million goodwill impairment charge related to its film products business, which makes the Rack Sack household garbage bags and a range of branded and private label household and industrial garbage bags.

CPI’s net sales for the year were $153.8 million, compared to $179.7 million for 2004.

“It continues to be a challenging environment for Canadian-based manufacturers with the appreciation of the Canadian dollar, extraordinarily high commodity prices and volatile energy costs,” Peter Clark, CPI’s president and chief executive officer, said.

Advertisement

Advertisement

Stories continue below

Print this page

Related Stories