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State of the North American Pulp & Paper Industry - The Center for ...

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<strong>Industry</strong> Per<strong>for</strong>mance – Pr<strong>of</strong>itability<br />

Net Operat ting Pr<strong>of</strong>it Margin<br />

12%<br />

10%<br />

8%<br />

6%<br />

4%<br />

2%<br />

0%<br />

1975 1978 1981 1984 1987 1990 1993 1996 1999 2002<br />

US <strong>Pulp</strong> &<br />

<strong>Paper</strong><br />

Pr<strong>of</strong>itability<br />

Continues Its<br />

Declining<br />

Path In Real<br />

Terms Since<br />

1970s<br />

16

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