Industry & Services >> Analyst Interviews >> March 11, 2002

Paper & Forest Products: Anna Torma – Merrill Lynch

ANNA E. TORMA is a North American Paper & Forest Products Analyst at Merrill Lynch. Before joining Merrill Lynch, Ms. Torma was a Senior Paper and Forest Products Analyst at a Canadian investment bank, initially covering Canadian lumber and paper and forest products. Prior to becoming a Research Analyst, she had specialized in forest product mergers and acquisitions, practiced corporate and environmental law for forest product and mining companies, and worked as a strategic planner for a major Canadian newsprint producer. She has been involved in the forest products industry since 1980. Ms. Torma is a Registered Professional Forester, holds a law degree and an MBA from the University of Western Ontario, and a BSc in forestry from Lakehead University. She is a member of the Bar of Ontario, the Ontario Professional Foresters Association and the Society of American Foresters. Profile
TWST: Would you begin by telling us how you define the paper and forest

products industry?

Ms. Torma: We evaluate which commodities are the primary influence from

an earnings leverage