Slocan Forest Products managed to turn loss into profit in 2002 by increasing production and streamlining operations.
The Canadian company had full-year earnings of C$39.7m, compared with a loss of C$25.2m in 2001. Fourth quarter earnings were C$60,000, an improvement on the C$20m loss for the corresponding period a year before.
Slocan produced 1.69 billion feet of softwood lumber during 2002, the most in its history, in a bid to cope with US duties averaging 27%.
It increased shifts from two to three a day, as well as streamlining production. Two of its least efficient mills were closed.
