TORONTO -- Norbord Inc. (TSX: NBD, NBD.WT), manufacturer of wood-based panels, reported a $1 million loss in the third quarter of 2011 compared to a $4 million loss in Q3 2010.
On the plus side, Norbord posted a positive EBITDA of $12 million in the third quarter of 2011 compared to $10 million in the second quarter of 2011 and $13 million in the third quarter of 2010.
"We delivered positive EBITDA results again this quarter in spite of persistently difficult markets," said Barrie Shineton, president and CEO. "I am especially pleased that our Margin Improvement Program continues to deliver better mill productivity and lower raw materials usage. Both are key to offsetting the negative impact of higher raw material input prices. In addition, our European business delivered another solid quarter."
Norbord reported that its Margin Improvement Program helped generate $21 million year-to-date gains by virtue of a richer sales mix, improved production efficiencies and reduced raw materials usage.
Norbord, an international producer of wood-based panels with assets of $1 billion, employs approximately 2,030 people at 13 plant locations in the United States, Europe and Canada. Norbord produces oriented strand board (OSB), particleboard, medium density fiberboard (MDF) and related value-added products.
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