PGI Turns a Profit
Polymer Group Inc. reported net sales increased 13.3% to $223.5 million during the fourth quarter, representing the highest level achieved in more than four years. For the full year, sales grew 8.6% to $844.7 million, driven primarily by volume growth in Latin America from new capacity installations and from new product introductions and stronger base volumes in North America. Net income for the fourth quarter of $8.4 millin, marketing a return to bottom line profitability. For the year, PGI reported net income of $4.7 million.