Repsol and Saica Natur have signed a new collaboration agreement in order to maximize the use of low density polyethylene film (LDPE) waste and take a new step in the transition towards a circular economy. With this project, Repsol and Saica Natur intend to combine their knowledge and skills to achieve new polyolefins that incorporate post-consumer recycled material. With a special goal to ensure quality consistency for more demanding applications, from the technical point of viewwhere recycling has hardly penetrated yet. This way, Saica Natur contributes not only with its expertise as a waste manager but also as a low density polyethylene (LDPE) recycled pellets producer. Repsol, the market leader in polyolefins in Spain and Portugal, provides the capabilities of its Technology Center, as well as its experience in the development of new products for its value chain. This agreement falls under Reciclex project, one of Repsol’s strategic pillars to promote the circular economy of its materials. Click read more below for additional detail.
Sappi North America, Inc. announced the appointment of Alexander "Sandy" Taft as director of sustainability. Taft will work cross-functionally within Sappi's North American operations to drive sustainability strategy and execution. Taft will also work with counterparts in Sappi's European and South African offices to ensure consistency with global sustainability goals. Taft joins Sappi from National Grid, a U.K.-headquartered energy delivery company, where he was most recently the Director of Environmental and Sustainability Policy for its U.S. subsidiary. He brings a strong background in U.S. energy and environmental policy, as well as a collaborative approach to global policy development. Click read more below for additional detail.
The Virginia Department of Forestry today announced that it has certified all of Virginia’s State Forests to the Sustainable Forestry Initiative (SFI) and American Tree Farm System standards. These certified forests cover more than 68,000 acres. The state forests system is self-sustaining and receives no general funds, so they must support operations through timber sales like other private landowners. Certification of Virginia state forest lands demonstrates for Virginia landowners how certification can be part of their land management efforts while validating that working forests are sustainable. “The commitment to sustainability within Virginia State Forests began in 1919 with the gift of 588 acres of land in Prince Edward County from Emmett D. Gallion for the purpose of advancing the cause of forestry in Virginia,” said State Forests Manager Gary Heiser. “Since that time, the state forests have grown in acres, productivity and biological diversity through the dedication of many state forest employees committed to responsible forest management.” Click read more below for additional detail.
“Our results in the third quarter were mixed, with strong performance in Lifetouch and solid results in SBS offset by disappointing performance in Shutterfly Consumer. Coming out of the quarter, we’ve identified clear opportunities to improve the consistency of our results in Shutterfly Consumer. At the same time, we made good progress against key initiatives including a good start to the Lifetouch Fall picture day peak season. Across Shutterfly Consumer, we launched new categories and products, rolled out significant new mobile app features and simplified product creation experiences, and put in place strong preparations for Q4.” GAAP net revenue was $369 million. Shutterfly Consumer segment net revenue totaled $127 million, a 6% year-over-year decrease. Lifetouch segment net revenue was $183 million. Shutterfly Business Solutions segment net revenue totaled $59 million, a 2% year-over-year decrease. GAAP operating loss totaled $87 million. Net loss was $74 million, or a loss of $2.20 per share. Click read more below for additional detail.
Smurfit Kappa Group plc ('SKG' or the 'Group'), one of the world's largest manufacturers of paper-based packaging products, with operations in Europe and the Americas, is pleased to announce that it has agreed to acquire Fabrika Hartije d.o.o. Beograd (‘FHB’) paper mill and Avala Ada d.o.o. Beograd (‘Avala Ada’) corrugated plant, in Belgrade, for a consideration of €133 million (the ‘Transaction’) from Kappa Star Group. The acquisition will expand SKG’s geographic footprint and provide for full containerboard integration in the Group's packaging operations in Southeast Europe. FHB and Avala Ada are well invested businesses, with a leading market position in Serbia and solid positions in adjacent countries. Click read more below for additional detail.
Highlights for the third quarter: • Subsequent to the end of the quarter, we acquired the assets of iPolitics, a digital political news outlet based in Ottawa that provides extensive digital online coverage of federal and provincial politics. The purchase of iPolitics complements the political coverage by the Toronto Star’s Ottawa and Queen’s Park bureaus and we have included some iPolitics content as part of our basic digital subscription offering on thestar.com. • During the third quarter, we sold our portfolio investment in Kanetix Ltd. for cash proceeds of $5.6 million and recorded a gain before tax of $2.6 million in other comprehensive income. • Our net loss attributable to equity shareholders was $18.8 million ($0.23 per share) in the third quarter of 2018. This compares to a net loss of $6.6 million ($0.08 per share) in the third quarter of 2017. Click read more below for additional detail.
Q3/2018 VS Q3/2017: • Net sales EUR 565.6 million (EUR 541.6 million), an increase of 4.4%. In constant currency growth was 7.8%. • Comparable EBITDA EUR 71.8 million (EUR 70.4 million), representing 12.7% (13.0%) of net sales • Continued success in compensating for variable cost increases • Net profit EUR 19.4 million (EUR 17.5 million). 1-9/2018 VS 1-9/2017 proforma: • Net sales EUR 1,725.8 million (EUR 1,685.5 million), an increase of 2.4%. In constant currency growth was 6.3%. • Comparable EBITDA EUR 205.6 million (EUR 227.2 million), representing 11.9% (13.5%) • Net profit EUR 62.7 million (EUR 69.2 million). Click read more below for additional detail.
Ahlstrom-Munksjö plans to significantly improve the competitiveness of its one-side coated paper segment. The company contemplates a plan to optimize its production capacity and product offering to meet the profitable demand and investigates the closure of one paper machine (PM1) in Stenay, France. Employee consultation processes will start on October 30, 2018, and are expected to be completed in January 2019. One-side coated product segment, a part of the Food Packaging business in the Specialties business area, is a segment where the markets have significant overcapacity globally, especially in Europe and the company’s offering is not optimally aligned with the strategy of niche orientation in customized solutions. By concentrating orders to the larger paper machine (PM3) at the Stenay plant, cost savings can also be achieved from higher raw material, energy and waste efficiency, as well as improved inventory management. Click read more below for additional detail.
No one likes to think about death, but everyone should. We’re all going to die someday. So why not greet the end of life with peace of mind, knowing that your estate plan is well organized and easy to find by those you leave behind? Of course, the best estate plan for you will depend on many factors, and you should always seek solid legal and financial advice before making any decisions. But one thing experts agree is right for everyone, regardless of their circumstances, is keeping paper copies of important information that can help your executor carry out your estate plan after your death. “I’m a big believer in paper. I create a three-ring trust binder for each of my clients with 15 dividers for important documents, like their trust, their will, their account statements and so on,” says David E. Woods, an attorney in O’Fallon, Missouri, whose major focus is on estate planning and probate law. “I also tell people to include their online account credentials. With a binder, everything is in one place, which makes it easier for someone to carry out their final wishes.” Click read more below for additional detail.
For the three months ended September 30, 2018, the Company reported record third quarter revenue of $257.1 million, up 4% compared to third quarter 2017 revenue of $248.4 million. GAAP net income was $1.9 million compared to GAAP net income of $3.5 million for the same period in 2017. For the nine months ended September 30, 2018, the Company reported revenue of $758.1 million, up 5% year-over-year compared to $724.1 million for the same period in 2017. GAAP net income was $2.1 million or $0.05 per diluted share, compared to $11.0 million. Click read more below for additional detail.