Pulp, paper prices soft

Fri, 12 Dec 1997 | Source: REUTERS

NEW YORK (Reuters): Asia Pulp & Paper Co on Wednesday said inventory corrections in Asia had resulted in relatively soft market pulp and commodity papers prices, but that demand was generally meeting expectations.

In comments on the third quarter results of its major Indonesian subsidiaries, Asia Pulp also said that a devaluation of the Indonesian rupiah against the U.S. dollar had helped to reduce costs during the quarter.

The company anticipated further cost reductions in the fourth quarter and continuing into 1998.

Asia Pulp & Paper plans to announce consolidated financial results for the third quarter of 1997 on Dec. 16.

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