We continued to refine how we serve our customers. For example, we’re carefully aligning our research and development capabilities with key pulp customers. Through this alignment, we can develop special pulp to meet unique customer requirements. In the process, we differentiate our products and reduce our exposure to volatile commodity markets. We began strengthening our core businesses to withstand down cycles in their markets.

This includes growing and optimizing key businesses: Timberlands, Wood Products, Fine Paper and Containerboard Packaging. Our purchase of the Dryden, Ontario, facilities, for example, significantly enhances our Fine Paper business and augments our Canadian Lumber position. We’re also improving the returns in our Pulp, Paper and Packaging sector by reducing its exposure to commodity grades, improving process reliability and maintaining tight controls on capital spending.