Kimberly-Clark Corporation has approved $30 million for expansion and improvements to its nonwovens manufacturing facility in Hendersonville, North Carolina. The plant produces nonwoven materials for Kimberly-Clark's North American adult and feminine care brands including Depend, Poise and U by Kotex. The two-year project will focus on expanding the plant's production capacity and efficiency, and is expected to add 14 new jobs at the site, while maintaining current employment. Click Read More below for additional information.
SCA is aiming to become completely fossil free. The Ortviken paper mill has taken a major step in the right direction and last year reported the lowest level ever of emissions from fossil fuels. In conjunction with BioCoop, Ortviken invested in a new combustion unit which made it possible to replace oil and LPG with wood powder. In 2012, Ortviken emitted 43,000 tonnes of carbon dioxide, a figure that dropped to 17,000 tonnes in 2017. "This is the lowest level of emissions of fossil carbon dioxide from oil and LPG ever. In 2017, we emitted 26,000 tonnes less carbon dioxide compared with five years ago. This is equivalent to 283,000 journeys in a Volvo car between Sundsvall and Stockholm," says Charlotta Lindberg, environmental engineer at the Ortviken paper mill. Click Read More below for additional information.
Smurfit Kappa Group plc is pleased to announce that it has agreed to acquire Reparenco, a privately owned paper and recycling business in the Netherlands, for a cash consideration of approximately €460 million following a competitive process. Reparenco operates a two machine paper mill in the Netherlands with a capacity of 675,000 tonnes together with a 750,000 tonne recovered fibre operation. Reparenco employs 315 people with Gross Assets of €189 million and generated EBITDA of €41 million in the 12 months to April 2018, during which time the business continued to ramp up production. Click Read More below for additional information.
During the first quarter of 2018, we adopted ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). As a result of the new accounting standard, income relating to our credit card program and gift card breakage that previously offset selling, general and administrative (“SG&A”) expenses has been recorded in other revenue in the Condensed Consolidated Statements of Income for all periods presented. The increase in other revenue for the first quarter of 2018 is the result of higher penetration from our growing credit card program. Gross profit for the first quarter of 2018 was $96.1 million or 29.4 percent of sales compared to $95.6 million or 28.3 percent of sales in 2017. Click Read More below for additional information.
Carbon aerogels are ultralight, conductive materials, which are extensively investigated for applications in supercapacitor electrodes in electrical cars and cell phones. Chinese scientists have now found a way to make these electrodes sustainably. The aerogels can be obtained directly from cellulose nanofibrils, the abundant cell-wall material in wood, finds the study reported in the journal Angewandte Chemie. Supercapacitors are capacitors that can take up and release a very large amount of energy in a very short time. Key requirements for supercapacitor electrodes are a large surface area and conductivity, combined with a simple production method. Another growing issue in supercapacitor production—mainly for smartphone and electric car technologies—is sustainability. However, sustainable and economical production of carbon aerogels as supercapacitor electrode materials is possible, propose Shu-Hong Yu and colleagues from the University of Science and Technology of China, Hefei, China. Click Read More below for additional information.
The continued existence of Germany's specialty paper manufacturer Feldmuehle Uetersen, which has been in insolvency proceedings since January this year, is assured. With effect from 1 June, the company will be taken over by a holding company, according to Andreas Jung, spokesman of insolvency administrator Dr. Tjark Thies. The company reports that the buyer is a holding company that has not yet been active in the paper industry. Paper production is said to continue unchanged. Feldmuehle Uetersen can produce up to 250,000 tpy of white, coated label paper, packaging paper, and graphic paper.
A company with a Middletown presence is laying off 60 employees starting this summer. All affected employees at Essity Operations Wausau, 700 Columbia Ave., have been notified of their layoff dates and that their separation from employment will be permanent, according to a mass layoff notice sent Thursday to the Ohio Department of Job and Family Services. Employees are expected to be terminated from employment starting Aug. 16, with all separations complete by the end of September. Fifty-four of the affected employees are represented by a union. Click Read More below for additional information.
RISI reports that Lecta and Burgo are separately raising prices by 6% to 7% on CWF and UWF grades effective with deliveries from July 2018 onward.
Total Company net sales for the three months ended April 30, 2018, increased 12.4% over the same period last year to a record $856 million. Comparable Retail segment net sales increased 10%, driven by strong, double-digit growth in the digital channel and positive retail store sales. By brand, comparable Retail segment net sales increased 15% at Free People, 10% at the Anthropologie Group and 8% at Urban Outfitters. Wholesale segment net sales increased 13%. Net income for the three months ended April 30, 2018, was $41 million and earnings per diluted share was $0.38. Click Read More below for additional information.
Total revenue of $16.8 billion increased 3.4 percent from $16.2 billion last year, reflecting sales growth of 3.5 percent combined with a slight decline in other revenue. First quarter sales growth reflected comparable sales growth of 3.0 percent combined with the contribution from non-mature stores. Comparable digital channel sales grew 28 percent and contributed 1.1 percentage points of comparable sales growth. Operating income was $1,041 million in first quarter 2018, down 9.9 percent from $1,155 million in 2017. First quarter operating income margin rate was 6.2 percent, compared with 7.1 percent in 2017. First quarter gross margin rate was 29.8 percent, compared with 30.0 percent in 2017, reflecting pressure from digital fulfillments costs and sales mix, partially offset by the benefit of the Company's cost saving efforts and the net impact of changes to the Company's pricing and promotions. Click Read More below for additional information.