Catalyst improves
Catalyst Paper Corporation’s third-quarter figures, released Wednesday, November 4, show slight improvements over last quarter, the result of capital expenditures during the first half of the year to solidify its North American operations.
“We are pleased with the progress we made in the third quarter,” Joe Nemeth, president and chief executive officer, stated in a media release. “We believe our results are a concrete step towards delivering positive, sustainable earnings levels.”
The company had $542.6 million in sales during the third quarter, up from $458.4 million in the second. It reported operating earnings of $23.8 million, up from a loss of $34 million during the second quarter.
Catalyst noted its Canadian operations have continued to demonstrate improved performance from increased levels of productivity and cost control. This improvement has been led by its Powell River operations that started revitalization initiatives in 2014. These improvements include staff, system and process changes, which the company plans to share across the company.
Catalyst added its new turbine-generator project, which uses medium-pressure steam to generate power from the Powell River mill’s boiler, will reduce annual electricity costs by approximately $4.7 million, a measure designed to mitigate the rising price of BC electricity.
Lower than average planned maintenance and capital spending also helped improve the company’s quarterly figures.
Dementia help
Asking for help is never easy, but it’s essential for an increasing number of Powell River residents caring for family members with Alzheimer’s disease or dementia.
According to the Alzheimer Society of BC (ASBC), the disease affects nearly 750,000 Canadians, including many in Powell River, and number is forecasted to double over the next 25 years.
The growing number of people caring for individuals with dementia can find help at a free support group in their area, organized by the society.
“It’s a safe environment where you can learn, laugh, and help each other through mutual understanding,” stated ASBC regional education and support coordinator Kerri Sutherland in a media release. “You really can’t support your family member by yourself.”
For more information on the support group, readers can email Sutherland at [email protected] or call 604.984.8348.
