Slocan Forest Products has topped perennial front-runner Kimberley-Clark from its perch as the world’s top performing forest company.

PricewaterhouseCooper studied the financial results of 100 of the world’s largest forest com-panies and concluded that Slocan had the highest return on capital employed and the most significant improvement in profitability.

The forest industry is the most capital-intensive in the world and Slocan recorded a return of 19.7%, while Kimberley-Clark was runner up with 18.3%. Slocan benefited from high lumber prices in 1999 and is not expected to repeat its performance in 2000.