AptarGroup's profit sinks
CRYSTAL LAKE – Packaging products maker AptarGroup's profits plunged in the third quarter largely due to unfavorable currency exchange rates.
Its third-quarter profit fell to $42.1 million, or 62 cents per share, from $49.3 million, or 72 cents per share, a year earlier, Reuters reported.
Officials at the Crystal Lake-based company said in a conference call Friday that five of AptarGroup's facilities lost power when Superstorm Sandy hit the East Coast this week. No employees were injured and no significant damage was reported at the facilities. Four of the five had power restored by Friday, AptarGroup President and CEO Stephen Hagge said.
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