Earlier this week Patrick Moore, chairman and ceo of Smurfit-Stone Container Corp. (SSCC) cited a balanced market, continued price improvement and the ongoing implementation of the company’s strategic initiatives as key drivers in Smurfit-Stone’s continued financial improvement. Moore spoke at the Citi Basic Materials Symposium last week in New York.

“Our mills have run at full capacity in response to favorable export containerboard demand,” Moore says. “Even with softer domestic packaging shipments, we are successfully implementing price increases for our products.??”

“We are now two-thirds of the way through our strategic plan and our efforts are making a difference. We are successfully reducing costs, improving efficiency, and structuring the company for long-term growth. While I am pleased with our progress, we have established aggressive targets to become the safest and most profitable company in our industry.”

??Since the company kicked off its strategic initiatives in 2005, Smurfit-Stone has reduced debt by nearly $1.2 billion, EBITDA margins have nearly tripled since the fourth quarter 2005, and the company is on track to achieve $525 million in cost savings by year-end 2008.

Looking ahead to 2008, Moore says market conditions are balanced and continued cost inflation in energy, freight and fiber are expected.??