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

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<strong>Industry</strong> Outlook – Per<strong>for</strong>mance Direction<br />

Line Item<br />

2003 Sales<br />

Growth<br />

2003 Income<br />

Growth<br />

2001-2003E 2003E<br />

ROTC<br />

U.S.<br />

Europe<br />

-3.0%<br />

-4.5%<br />

-16.0%<br />

-33.0%<br />

4.0% 6.0%<br />

European & US<br />

<strong>Industry</strong> Firms’<br />

Per<strong>for</strong>mances Are<br />

Converging –<br />

But Both Regions<br />

Now Under-<br />

per<strong>for</strong>ming –<br />

Yet Asian & Latin<br />

<strong>American</strong> Share<br />

Growth Continues<br />

29

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