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A explains baseball tickets nonprofit, taxable devises organization, Blue Cross is the largest healthplan based in Minnesota, covering 2.8 million members in Minnesota andnationally through its health plans or plans administered by its affiliatedcompanies. Blue Cross and Blue Shield of Minnesota is an independent licenseeof the Blue Cross and Blue Shield Association, headquartered in Chicago. Go to to learn more about Blue Cross and Blue Shield ofMinnesota.About North MemorialNorth Memorial has provided more than 50 years of service to communities inthe northwest metro and currently has more than 5,000 employees. NorthMemorial includes North Memorial Medical Center, a Level I Trauma Center andtertiary care center. In addition to being recognized for its outstandingemergency and trauma services, North Memorial is recognized for its oncologyservices, heart and stroke care, women and children's services and numerousprimary care and specialty clinics located throughout the northwestern TwinCities.
For more information visit Cross and Blue Shield of MinnesotaPam Lux of Blue Cross and Blue Shield of Minnesota, +1-651-662-3959; or RobertPrevost of North Memorial, +1-763-520-5062 cubs rooftop . VANCOUVER, BRITISH COLUMBIA, Jul 24 (MARKET WIRE) -- Canfor Pulp Income Fund (the Fund) (TSX: CFX.UN) announced today itssecond quarter 2009 results as well as the results of Canfor Pulp LimitedPartnership (the Partnership) in which the Fund has a 49.8% ownership.The Partnership reported sales of $205.0 million and net income of $1.5million, or $0.02 per unit, for the quarter ended June 30, 2009 . ThePartnership generated EBITDA of $7.2 million in the quarter . The Fundreported net income of $4.4 million, representing the Fund's share of thePartnership's net income and a non-cash recovery of $3.7 million forfuture income tax.The Partnership generated standardized distributable cash of $20.6million, or $0.29 per unit .
Adjusted distributable cash was $1.1 million,or $0.02 per unit, in the second quarter of 2009 kansas city royals . For the second quarter,the Partnership and the Fund declared distributions of $0.03 per unit.The second quarter of 2009 was highlighted by a continued focus on costcontrol, working capital management and cash conservation in light ofcontinued adverse market conditions . NBSK pulp US dollar list pricesdecreased further in the quarter and when combined with the strongerCanadian dollar represented a 10% decrease of list price in Canadiandollar terms . Offsetting the lower overall pricing for the Partnership'spulp and paper products was a 10% decrease in unit manufacturing costsattributable to lower fibre, energy and chemical prices combined withfocus on controllable costs through cost reduction initiatives and themanagement of discretionary spending . Working capital was reduced by$22.2 million in the quarter as finished goods inventories were reducedon increased sales into China.
The reduction in working capital, andcapital expenditures limited to $2.2 million, allowed the Partnership toincrease its net cash position to $3.2 million as compared to a deficitof $15.6 million at the end of the first quarter of 2009.Pulp markets improved in the second quarter as significant supplycurtailments have mitigated reductions in global demand, resulting inreduced producer inventory stocks and price increases kansas city t bones . NBSK US dollarlist prices were US$635 in April rising to US$660 in June with announcedprices for July of US$700.During the second quarter of 2009 the Intercontinental and Prince GeorgePulp and Paper Mills completed scheduled maintenance outages resulting inreduced market pulp production of approximately 7,000 tonnes and reducedpaper production of 3,000 tonnes . There are no planned maintenanceoutages for the third quarter of 2009 . For the remainder of the yearthere is a planned maintenance outage in the fourth quarter at ourNorthwood facility which is expected to reduce production levels by21,000 tonnes.The billion dollar Green Transformation Program announced by the Canadiangovernment on June 17, 2009 proposes to provide a $0.16 per litre creditto qualifying Canadian facilities for black liquor consumption commencingJanuary 1, 2009 . The program is to take the form of funding forqualifying energy and environmental capital projects. The Partnershipexpects to qualify for funding under this program and has commenceddevelopment of a list of significant qualifying capital projects inanticipation of submission once the program details are finalized.On July 22, 2009 the Fund announced a cash distribution of $0.01 per Fundunit for the month of July to be paid on August 14, 2009.Additional InformationA conference call to discuss the second quarter 2009 financial andoperating results will be held on Monday, July 27, 2009 at 8:00 a.m.Pacific time.To participate in the call, please dial 416-641-2140 or Toll-Free1-800-952-4972.
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