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Graham Packaging: Fourth quarter net loss reduced

Graham Packaging (York, Pennsylvania / USA; www.grahampackaging.com) said productivity initiatives and an improved product mix contributed to a reduction in its net loss for the fourth quarter. The company, which is majority owned by US private equity group Blackstone (New York, USA; www.blackstone.com), registered a net loss of USD 46.6m for the fourth quarter of 2009 compared with a USD 95.0m loss a year earlier.

It said net sales declined 3.8% to USD 534.7m due to a decrease in resin costs which was passed through to customers.

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