Feb 27, 2009. /Lesprom Network/. Caraustar Industries Inc. went deeper into the red in 2008, hurt by weaker demand and impairment costs, as Atlanta Business Chronicle informed Lesprom Network. Caraustar had a net loss of $98.7 million and a loss per share of $3.44, compared with a net loss of $24.5 million and a loss per share of 86 cents in 2007.Annual sales dipped 4% to $819.7 million. The results for 2008 include $14.4 million in restructuring and impairment costs. "Caraustar felt the impact of the global recession in the fourth quarter as demand decreased in most of the end use markets we serve,” said Michael J. Keough, President and CEO Caraustar, in an earnings statement. “This decrease was particularly hard felt by our business segments that are driven by industrial production. While the 4Q is typically slow seasonally, we experienced softness greater than historic seasonality, which led to manufacturing inefficiencies and extended downtime at many of our production facilities. Partially offsetting reduced volume were dramatically lower fiber costs, higher selling prices, and lower selling, general and administrative costs.” Caraustar Industries, Inc. is one of North America's largest integrated manufacturers of 100% recycled paperboard and converted paperboard products.