M&F raises sales

Matussiere et Forest (M&F) recorded a 49% increase in its turnover for the year 2000 compared to the previous year. The $334 million sales was due to the integration of Papeterie de Voiron from March 1, 2000. The turnover was reportedly affected by price increases for printing/writing and industrial paper and by customers destocking during the third quarter. However the success of paper price rise, softening of pulp market and increase in dollar strength is expected to add to the annual benefits of the French company for 2001.