Rubbermaid Reports Record Year
here reported record sales and earnings for 1994, and the fourth quarter ended Dec. 31, 1994. For 1994, the company enjoyed an 11% increase on record net sales of $2.1 billion. It said earnings were up 8% to $228.1 million, or $1.42 per share, compared with $211.4 million, or $1.32, in 1993. Fourth-quarter sales grew by 20% to $566 million. Volume increased 21%, while pricing had a negative 1% impact on consolidated sales results. Earnings were $54.6 million, or $.34 per share, up 7% over the $50.8 million, or $.32, in the comparable period of 1993.
"Rubbermaid's record sales level in 1994 was achieved by solid performances in all of our core businesses," said Wolfgang R. Schmitt, chairman and chief executive officer. "Home products, our largest business, led the company. Commercial, juvenile, office, and seasonal products also received record sales."
BASF to Hike Blank Tapes Prices
BEDFORD, Mass. -- A 7% price increase on BASF Magnetic's consumer line of blank audio and video cassettes will go into effect March 16.
The increase is due to "sharp cost increases in base film, solvents, metals and plastics. Even packaging and wooden pallet costs increased 38%," said Robert Baldizar, director of sales and marketing for BASF Magnetic's audio and video division. Baldizar noted that despite the increases, the new pricing is designed to keep BASF competitive and its marketing program viable.
Kodak, Fuji Begin Recycling
NEW YORK -- Kodak, Rochester, N.Y., and Fuji Photo Film U.S.A. Inc., Elmsford, N.Y., announced they will exchange each other's one-time-use cameras received from photofinishers for recycling and reuse.
According to the two companies, the agreement underscores their environmental commitment. The one-time-use camera category has grown at double-digit rates over the past few years, reaching approximately 40 million units in 1994. Both companies have recorded increases in the number of camera bodies returned to them for recycling and reuse that were made by the other company.