Aug 08, 2011. /Lesprom Network/. Fibrek Inc. has recorded net earnings of $5.6 million in the second quarter of 2011, compared with net earnings of $10.3 million in the corresponding period of 2010, as the company said in a press release received by Lesprom Network. In the 2Q 2011, consolidated sales reached $148.3 million, a reduction of $6.5 million when compared with sales of $154.8 million in the 2Q 2010. This decrease is mainly attributable to an unfavourable exchange rate for $9.2 million and a lower sales volume, almost entirely RBK pulp, for $2.2 million, which were partially offset by higher pulp prices and a favourable sales mix for $4.9 million. EBITDA for the 2Q 2011 was $16.6 million (or 11.2% of sales), compared to $21.7 million (or 14.0% of sales) for the corresponding period of 2010. Commenting on these results, Pierre Gabriel Cote, President and CEO, indicated: “The 2Q results showed strong demand and high pulp prices, resulting in positive business fundamentals which were negatively impacted by the strengthening of the Canadian dollar. For the RBK segment, we continued to face higher wastepaper prices. We have restrained the impact of these increasing prices by successfully passing through price increases to a significant portion of our volume. We also continued to pursue a variety of longer term actions and initiatives to address the challenges of the RBK segment. We continued to deleverage our capital structure by completing the redemption of our remaining convertible debentures, further strengthening our balance sheet and positioning ourselves to take advantage of future opportunities. After six months in 2011, we are encouraged by our net earnings showing improvement over last year.” For the first six months of 2011, consolidated sales reached $280.4 million, a reduction of $12.5 million when compared with sales of $292.9 million for the corresponding period of 2010. This decrease is mainly attributable to an unfavourable exchange rate for $16.5 million as well as a lower sales volume for $12.8 million, which were partially offset by higher pulp prices and a favourable sales mix for $16.8 million. EBITDA for the six-month period ended June 30, 2011 reached $32.4 million (or 11.5% of sales), compared to EBITDA of $37.8 million (or 12.9% of sales) for the corresponding period of 2010. Net earnings of $9.1 million were recorded in the six-month period ended June 30, 2011, compared with net earnings of $8.7 million in the corresponding period of 2010. Fibrek is a leading producer and marketer of high-quality virgin and recycled kraft pulp. The company operates three mills located in Saint-Felicien, Quebec, Fairmont, West Virginia, and in Menominee, Michigan with a combined annual production capacity of 760,000 tonnes. Fibrek has approximately 500 employees.