Boise (NYSE:NZ), a leading manufacturer of packaging products and papers, announced recently that it received notice from the New York Stock Exchange (NYSE) that the company has regained compliance with the NYSE's quantitative continued listing standards. As of October 2, Boise Inc.'s common stock closed at $5.15 per share, with a market capitalization of $435 million.
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The notice stated that the decision came as a result of Boise Inc.'s consistent, positive performance with respect to the original business plan submission, the previous cure of its share price noncompliance on May 31, 2009, and the achievement of compliance with the NYSE's minimum market capitalization requirement over the past two quarterly review periods. "We believe this notice is a reflection of our solid operating and financial performance through a challenging economic environment," said Alexander Toeldte, President and Chief Executive Officer of Boise Inc. "We continue to look for ways to improve our performance and increase shareholder value.” Boise Inc. received a letter of noncompliance from the NYSE in November 2008, notifying the company that it had fallen below both the minimum share price and market capitalization requirements for continued listing on the NYSE. Headquartered in Boise, Idaho, Boise Inc. (NYSE:BZ) manufactures packaging products and papers including corrugated containers, container board, label and release and flexible packaging papers, imaging papers for the office and home, printing and converting papers, newsprint, and market pulp. Our entire team of approximately 4,100 employees is committed to delivering excellent value while managing our businesses to sustain environmental resources for future generations.
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