Lecta announces a price increase of Thermal papers for new orders, effective January 28, 2020. The increase will be around 8 to 10% in Thermal papers depending on country. The price increase is unavoidable to offset the continuous increase in manufacturing and transport costs. Lecta sales teams are at our customers’ disposal to provide specific information on how the price increase will be applied on a country by country basis.
Clearwater Paper Corporation announced that its board of directors has unanimously elected Arsen S. Kitch, the company’s senior vice president and general manager of its consumer products division, as its next chief executive officer, effective April 1, 2020. Upon becoming CEO, Mr. Kitch will be appointed to the board. Mr. Kitch will succeed Linda K. Massman, who has informed the board of her decision to retire from Clearwater Paper after serving in the CEO position since January 2013. She previously served as the company’s president and chief operating officer from 2011 to 2013 and as chief financial officer from 2008 to 2011.
Avery Dennison Corporation announced preliminary, unaudited results for its fourth quarter and year ended December 28, 2019. “We delivered another year of strong adjusted earnings growth in 2019, despite challenging market conditions and significant currency headwinds,” said Mitch Butier, Chairman, President and CEO. “Our focus in this environment is on protecting our margins in the base business, while driving faster-than-average growth and continuing to invest disproportionately in high value categories like RFID. We are executing well on both fronts. “Label and Graphic Materials delivered solid volume improvement in the second half while expanding margins, recapturing share that we ceded at the tail end of the last inflationary cycle, as planned. Retail Branding and Information Solutions delivered mid-teens profit growth, reflecting both strong top-line performance and continued margin expansion. And, in a difficult year for industrial end markets, Industrial and Healthcare Materials posted modest sales growth while expanding margins significantly.
KEY HIGHLIGHTS: Strong net profit for the year and proposed increased dividend as a result of the successful divestment of Bergvik Skog Öst. Fourth quarter sales volume growth offset by negative changes in pricing and mix due to weaker market conditions. KM7 start-up impact in the fourth quarter in line with expectations. QUARTERLY DATA: Net sales were flat and amounted to SEK 5 815 million (5 843). Operating profit was SEK 103 million (414). Net profit was SEK 333 million (309), including dividend from Bergvik Skog AB of SEK 244 million and profit from discontinued operations of SEK 50 million.
Oil prices rose for a second day on Wednesday, recouping some losses after a five-day rout, on talk that OPEC could extend oil output cuts if a new coronavirus hurts demand and data showing a decline in U.S. stockpiles. Financial markets that have been hit by the spread of the virus out of China are trying to assess the economic fallout, with the death toll rising to 132 and airlines reducing flights to China.
Boise Paper, a division of Packaging Corporation of America (PCA), has announced their sponsorship of Reach Out and Read, a U.S. non-profit entering its fourth decade promoting childhood literacy. “Research points to the importance of early childhood literacy and how reading books improves brain development, even in the earliest years of a child’s life,” said Paul LeBlanc, vice president of paper for PCA. “That’s why we are tremendously excited to announce our sponsorship of Reach Out and Read.”
When was the last time you received printed Social Security statements in the mail? Chances are it’s been a while. In fact, you’re probably getting fewer printed statements of all types, and we think that should change. Domtar has joined the Coalition for Paper Options in opposing a proposal that would allow retirement plan administrators to default to delivering important disclosures electronically rather than on paper. We also support the new Know Your Social Security Act. This bipartisan legislation would require the Social Security Administration (SSA) to reinstate the mailing of its annual statement of earnings to all workers age 25 and older until the wage earner establishes an online SSA account. Click read more for additional information
Millennials are poised to change all aspects of business for many years to come – including the packaging of the beverages they drink and foods they eat. In findings from the EcoFocus Worldwide 2019 US Trends Survey, Millennials put a significantly higher priority on sustainability than have the generations before them and will reward brands and businesses that understand how to align packaging with their eco-focus needs. Learn more about the 5 keys to understanding how millennials will impact sustainable packaging forever: •A healthier planet means a healthier me •Healthier foods & beverages are even healthier in sustainable packaging •Food & beverages need to come in packaging that supports sustainable practices •Brand owners will build trust by acting more responsibly towards the environment •It is worth paying more for eco-friendly products
Silgan Holdings Inc. reported full year 2019 net income of $193.8 million as compared to full year 2018 net income of $224.0 million. The Company reported net cash provided by operating activities of $507.3 million in 2019 as compared to $506.5 million in 2018. Free cash flow decreased $39.7 million to $271.7 million in 2019 as compared to a record $311.4 million in 2018 due primarily to an increase in capital expenditures in 2019 principally for investments in the metal container and closures businesses and the realization in the prior year of significant working capital benefits as a result of the planned reduction in finished goods inventory in the metal container business. Income before interest and income taxes for 2019 was $359.5 million, a decrease of $52.6 million as compared to $412.1 million for 2018, and margins decreased to 8.0 percent from 9.3 percent over the same periods.
We have started the sales process in September and have been in continuous and substantial discussions with interested parties. While these discussions are still ongoing, we have not received binding offers by potential buyers of the mill to date. Consequently, we informed employee representatives today of our intention to start the employee consultation processes for the potential closure of the site. The mill currently employs 236 people with an annual production capacity of 240.000 tonnes of newsprint paper.