No Boom Boxes (Carton Converter Profiles)

First quarter 2001 projections, thus far, harbor the same cautionary tone. Westvaco expects returns to be 30 to 35 percent lower than first quarter 2000 earnings--a decrease that is partly related to weakness in the folding carton markets served by its bleached board mills.

Projections may be down—particularly among integrated converters contending with board production pressures--but profits aren't completely out. Rock-Tenn's first fiscal quarter report (for the period ending December 31, 2000) noted a significant increase in its Folding Carton Division's operating income due to plant consolidations in 2000.