Packaging Corporation of America announced that it has discontinued production of uncoated freesheet (UFS) grades on the No. 3 paper machine at its Jackson, AL mill and will begin preparing for the permanent conversion of the machine to linerboard. As previously disclosed, in order to meet strong packaging demand and maintain appropriate inventory levels, the machine temporarily began producing linerboard in the fourth quarter of 2020 and continued producing linerboard in the first quarter of 2021. The mill will now begin preparations to permanently convert the 365,000 ton-per-year No. 3 UFS paper machine to a 700,000 ton-per-year high-performance, virgin kraft linerboard machine, in a phased approach, over the next 36 months. Plans are for the machine to run at its current containerboard production rate for the next 12 to 15 months until the scheduled first phase outage is taken in the second quarter of 2022.
Dear Industry Member: The Postal Service is conducting a survey on the potential use of a larger size First Class Mail postcard and has asked ACMA and others to pass it on to our industries. The USPS says your feedback “will provide great insights for us to consider during the decision-making process.” SURVEY LINK: https://uspsci.allegiancetech.com/cgi-bin/qwebcorporate.dll?idx=F38Y58 The survey began February 24th and will remain open until Wednesday, March 10th.
The Association of American Publishers (AAP) today released its StatShot report for December 2020 reflecting reported revenue for all tracked categories, including Trade (Consumer Books), K-12 Instructional Materials, Higher Education Course Materials, Professional Publishing, and University Presses. Total revenues across all categories for December 2020 were down 8.5% as compared to December 2019, coming in at $1.1 billion. Year-to-date sales were flat, with an increase of 0.1% as compared to calendar 2019, with a total of $14.8 billion. Trade (Consumer Books) sales were up 9.5% in December, coming in at $796.1 million. For January-December 2020 Trade sales were up 9.7% as compared to the same period last year, coming in at $8.6 billion. In terms of physical paper format revenues during the month of December, in the Trade (Consumer Books) category, Hardback revenues were up 14.2%, coming in at $312.5 million; Paperbacks were up 2.4%, with $248.1 million in revenue; Mass Market was down 1.6% to $25.9 million; and Board Books were up 6.2%, with $16.7 million in revenue.
In a result no one in publishing would have predicted last spring when Covid-19 first hit the U.S., book publishing sales finished 2020 flat with 2019 based on year-end figures supplied by 1,354 publishers to AAP’s StatShot program. The two major trade categories, adult books and children/young adult, had gains of 12% and 6.4%, respectively, while the two big educational segments saw declines. With many public schools teaching remotely for long stretches of last year, sales of K-12 instructional materials fell 19.6% in 2020 compared to 2019. Sales of higher educational course materials declined 4.3% last year as many colleges and university turned to hybrid instruction, which changed buying habits by students.
Revenues decreased by $83.1 million, or 11.8%, from $705.8 million in the first quarter of 2020 to $622.7 million in the corresponding period of 2021. This decline is mainly attributable to lower volume in the Printing Sector due to the impact of the COVID-19 pandemic and the sale of the paper packaging operations, which occurred toward the end of the first quarter of the previous year. This decrease was partially mitigated by the solid organic growth in revenues in the Packaging Sector and the revenues generated by the acquisition of Artisan Complete Limited in the Printing Sector. Operating earnings increased by $6.4 million, or 15.7%, from $40.8 million in the first quarter of 2020 to $47.2 million in the first quarter of 2021. The increase in operating earnings is explained by the organic growth in the Packaging Sector. In addition, in the Printing Sector, initiatives to optimize operational efficiency and the Canada Emergency Wage Subsidy offset a majority of the decrease in volume. Net earnings attributable to shareholders of the Corporation increased by $21.3 million, from $6.4 million in the first quarter of 2020 to $27.7 million in the first quarter of 2021. This increase is mostly explained by the income tax expense related to the sale of the paper packaging operations in the first quarter of 2020, higher operating earnings and the decrease in net financial expenses resulting from a reduction in net indebtedness and a lower weighted average interest rate.
Fourth Quarter Financial Highlights and Recent Events * Total revenue increased by 11.1% to $54.6 million, from $49.2 million in the fourth quarter of 2019. * Envelope segment revenue was up 13.2% to $40.5 million, from $35.7 million in the fourth quarter of 2019. * Packaging and specialty products segment revenue increased by 5.4% to $14.2 million, from $13.4 million. * EBITDA1was $4.6 million, down from $6.8 million in the fourth quarter of 2019 resulting primarily from a non-cash asset impairment charge of $2.8 million and a restructuring expense of $1.8 million. * Net Earnings at $0.3 million, down from $2.3 million in the fourth quarter of 2019 from the above mentioned non-recurring items. Fiscal Year Financial Highlights * Total revenue increased by 6.7% to $204.6 million, from $191.7 million in 2019. * Envelope segment revenue was up 6.8% to $146.5 million, from $137.1 million in 2019. * Packaging and specialty products segment revenue was up 6.5% to $58.1 million, from $54.5 million. * EBITDA1 was $27.2 million, which include a fourth quarter non-cash asset impairment charge of $2.8 million and restructuring expenses of $1.8 million, up $1.9 million from $25.3 million in 2019. * Net Earnings were $7.5 million, which include the above mentioned non-recurring items, increased $0.4 million from $7.1 million in 2019.
For the fourth quarter of 2020, Clearwater Paper reported net sales of $453 million, a 4.0% increase compared to net sales of $435 million reported in the fourth quarter of 2019. Net income for the fourth quarter of 2020 was $23 million, compared to net income in the fourth quarter of 2019 of $2 million. On a non-GAAP basis, Clearwater Paper reported adjusted net income in the fourth quarter of 2020 of $25 million, compared to fourth quarter 2019 adjusted net income of $6 million. For the full year 2020, Clearwater Paper reported net sales of $1.9 billion, a 6.1% increase compared to net sales of $1.8 billion for 2019. Net income for the full year was $77 million in 2020, compared to a net loss for 2019 of $6 million. On a non-GAAP basis, Clearwater Paper reported adjusted net income for 2020 of $89 million, compared to 2019 adjusted net income of $4 million.
For durable, high strength labelling to withstand extreme conditions. Lecta expands its portfolio of Adestor pressure-sensitive products for the industrial, logistics and healthcare industries with the launch of Adestor PET Laser MW. The new Adestor PET Laser Matt White facestock provides excellent performance for outdoor labelling and durable applications (high resistance to water, chemicals and fluctuating temperatures). This new product is HP Indigo certified and ideal for use with variable data printing technologies.
Whether delivery or takeout, as a weekday reprieve from cooking or festive food for a weekend celebration, people love their pizza. Over the course of a year in the U.S., people consume an estimated 3 billion pizzas. And during February’s Super Bowl game, Domino’s pizza in the U.S. typically sells around 2 million pizzas. The love for pizza has longevity, too. According to a Reader’s Digest poll, the single food that most Americans would want to eat for the rest of their lives is pizza. While we can debate Hawaiian versus pepperoni and turn our noses up at anchovies, there’s no agreeing to disagree on this: Pizza boxes can be recycled. There’s proof. Mired in myth, and confused by cheese and grease, people have been burying the pizza box in their trash bins, assuming it cannot be recycled. Allow me to set the record straight – it can!
National Average Price for Regular Unleaded Current: $2.699; Month Ago: $2.400; Year Ago: $2.472. National Average Price for Diesel Current: $2.908; Month Ago: $2.640; Year Ago: $2.871
American Dollar to Canadian Dollar = 0.790173; American Dollar to Chinese Yuan = 0.154682; American Dollar to Euro = 1.211401; American Dollar to Japanese Yen = 0.009405; American Dollar to Mexican Peso = 0.047862.
Dear Industry Executive: We have heard from some companies about their willingness to underwrite our strong opposition to the PRC’s granting of additional rate authority to the US Postal Service. We still need additional funding. Otherwise, we’re in for draconian rate hikes throughout the next decade that could push all of us out of the mail. What Your Pledge Will Help Us Do: 1. A branded digital campaign to activate and engage catalog merchants, industry employees, suppliers, and the millions of catalog shoppers who rely on and benefit from our industry. We will launch a simple constituent outreach tool for widespread use to motivate elected officials with template-driven email and text tools. The tool will also provide all details, op-eds and other materials to both whip up support and be an online destination that will drive pick-ups, retweets and interest beyond catalog-only interests. 2. Aided by the digital campaign, an aggressive effort to convince lawmakers in Washington to pass sensible postal reform legislation that addresses the massive congressionally-imposed cost overhangs that plague the postal system and are the causal factor in the PRC’s ruling. 3. File a lawsuit in the US Court of Appeals challenging the Postal Regulatory Commission’s (PRC) overreach that clearly exceeds its authority to make such sweeping and fundamental changes to the rate-setting system.
Full-year operating income was $1.580 billion compared to $258.4 million last year, and net income was $844.5 million compared to a net loss of $366.4 million last year. Net sales were $11.847 billion for the year ended Jan. 30, 2021, compared to $12.914 billion for the year ended Feb. 1, 2020. Comparable sales for the full year increased 21 percent, consisting of a 45 percent increase at Bath & Body Works and a 1 percent increase at Victoria’s Secret. Full year 2020 sales in the direct channel increased 109 percent at Bath & Body Works and 31 percent at Victoria’s Secret.
Net sales for the three months ended December 31, 2020 declined by $273 million or 47% compared to the three months ended December 31, 2019 as a result of significant declines in sales volume and unfavorable price/mix. Operating loss was $118 million for the three months ended December 31, 2020, a decrease of $128 million when compared to operating income of $10 million for the three months ended December 31, 2019. Net sales for the twelve months ended December 31, 2020 declined by $1,085 million or 44% compared to the twelve months ended December 31, 2019 as a result of significant declines in sales volume and unfavorable price/mix. Operating loss was $128 million for the twelve months ended December 31, 2020, a decrease of $91 million when compared to operating loss of $37 million for the twelve months ended December 31, 2019.
Domestic Segment Q4 FY21 Results: Domestic revenue of $15.40 billion increased 11.2% versus last year. Domestic GAAP gross profit rate was 20.9% versus 21.2% last year. International Segment Q4 FY21 Results: International revenue of $1.54 billion increased 14.0% versus last year. International GAAP gross profit rate was 21.6% versus 22.6% last year.
Q4 2020 Highlights • Sales of $1,284 million (compared with $1,275 million in Q3 2020 (+1%) and $1,227 million in Q4 2019 (+5%)) o Operating income of $109 million (compared with $73 million in Q3 2020 (+49%) and operating loss of $(1) million in Q4 2019) o Operating income before depreciation and amortization (OIBD)1 of $181 million (compared with $154 million in Q3 2020 (+18%) and $76 million in Q4 2019 (+138%)) o Net earnings per share of $0.72 (compared with $0.51 in Q3 2020 and net loss per share of $(0.27) in Q4 2019). 2020 Annual Highlights • Sales of $5,157 million (compared with $4,996 million in 2019 (+3%)) o Operating income of $366 million (compared with $261 million in 20192 (+40%)) o Operating income before depreciation and amortization (OIBD)1 of $665 million (compared with $550 million in 20192 (+21%)) o Net earnings per share of $2.04 (compared with $0.77 in 20192)
Fourth Quarter 2020 Consolidated Results • Fourth quarter revenues of $875.4 million rose 25.2% as compared to the prior year quarter reflecting the acquisition of Legacy Gannett. ◦ Same store pro forma revenues (as defined and reconciled on Table No. 5 below) decreased 16.3%, due to unfavorable impacts resulting from the COVID-19 pandemic and general trends adversely impacting the publishing industry. This is an improvement of 330 basis points over the third quarter 2020 trend. • Digital advertising and marketing services revenues reached $223.3 million in the fourth quarter, or 25.5% of total revenues. • Net loss attributable to Gannett of $122.2 million in the fourth quarter reflects a $74.3 million non-cash loss on the derivative associated with our convertible notes and a $42.1 million loss associated with the early extinguishment of debt.
Q4 2020 Headlines: HMH achieved 2020 billings at the top end of its revised guidance range and positive free cash flow, outperforming its revised guidance range for 2020. Additionally: *Continued momentum with SaaS billings growth of 142% and digital platform user growth of 306% for full year 2020 *Annualized Recurring Revenue (ARR) 1 of $58 million in 2020; HMH will report its Net Retention Rate (NRR) beginning in the first quarter of 2021 *Connected Sales1 made up 50% of Education segment billings in 2020. Full year 2020 Financial Results: Net Sales: HMH reported net sales of $1,031 million for the full year of 2020, down 26% compared to $1,391 million in 2019. Billings1: Billings for 2020 decreased $502 million, or 32%, from 2019. Net Loss: Net loss of $480 million for 2020 was a $266 million unfavorable change from the net loss of $214 million in 2019, due primarily to the same factors impacting operating loss.
Greif, Inc. announced an agreement to sell 69,200 acres of timberlands in southwest Alabama to Weyerhaeuser Company for approximately $149 million in cash. Proceeds from the transaction will be applied to debt repayment. While this transaction is subject to tax, the Company has tax losses from other transactions which will substantially mitigate the tax associated with this land sale. Pete Watson, Greif’s President and Chief Executive Officer, commented, “We are pleased to enter into this agreement with Weyerhaeuser Company. Proceeds from the transaction will help to de-lever our balance sheet and accelerate the transfer of Greif’s enterprise value from debt to equity holders in line with our stated financial priorities.”
Pregis is announcing a new 300,000 square foot manufacturing facility in Bethel, Pennsylvania. The plant will be producing lightweight, recyclable all-paper cushioned mailers to support demand in the Northeastern region of North America. The facility will house multiple production lines and is scheduled to be operational at the beginning of May. Pregis is currently looking to fill 80 new manufacturing positions, boosting employment opportunities in the region. The facility also has room to expand to meet future demand. “E-commerce is continuing to grow exponentially. Brand owners and retailers are looking for sustainable alternatives to ship their products through the parcel network direct to consumers. Pregis’ investment in this new manufacturing facility is yet another commitment to our robust e-commerce offering and our dedication to sustainable protective packaging options,” said Kevin Baudhuin, president and chief executive officer, Pregis.
Thursday February 25, at 7.07 am, SCA closed permanently paper machine LWC4 at Ortviken paper mill. With this, SCA’s all production of publication paper has come to an end. Publication paper production started at Ortviken in the year 1958 with production of newsprint. Ortviken has grown as a producer of first newsprint and then coated publication paper for magazines and commercial print. Ortviken has produced up to 800 000 tonnes per annum and was one of the world’s largest mills for publication paper production.
Smurfit Kappa is launching its innovative punnet portfolio in Europe. The “Safe&Green” portfolio is Smurfit Kappa’s paper-based, sustainable solution to plastic packaging for fresh produce, and consists of unique designs that are 100% renewable, recyclable, and biodegradable. Recent research by Smurfit Kappa has found that consumers prefer a punnet that balances visibility of the contents with sustainability, with over half (58%) of respondents rating these as the most important attributes of fresh produce packaging. The research also found that 75% of consumers surveyed believe paper-based punnets to be the sustainable choice . In addition, Eurostat's latest figures affirm consumer’s beliefs as it confirmed that 83% of paper-based packaging is actually recycled. As a result, growers and retailers are increasingly selecting sustainable packaging solutions for fresh produce that respond to, and address, a multitude of customer needs.
Total European shipments of graphic papers in December 2020 were down 11.8% vs. December 2019 and were down 19.1% year-to-date. Total European shipments of newsprint in December 2020 were down 15.5% vs. December 2019 and were down 19.0% year-to-date. Total European shipments of sc-magazine in December 2020 were down 8.2% vs. December 2019 and were down 17.7% year-to-date. Total European shipments of coated mechanical reels in December 2020 were down 19.2% vs. December 2019 and were down 26.3% year-to-date. Total European shipments of uncoated mechanical (improved & others) in December 2020 were down 2.2% vs. December 2019 and were down 7.8% year-to-date. Total European shipments of coated woodfree in December 2020 were down 10.5% vs. December 2019 and were down 24.9% year-to-date. Total European shipments of uncoated woodfree in December 2020 were down 8.3% vs. December 2019 and were down 13.3% year-to-date.
Fourth Quarter and Full Year 2020 Highlights: *Fourth quarter and full year income from continuing operations was $9 million, and $0 million, respectively, $66 million and $119 million higher than comparable periods in 2019, respectively *Fourth quarter Adjusted EBITDA from continuing operations of $53 million was up $44 million from the comparable quarter in 2019 primarily driven by higher lumber and High Purity Cellulose prices *Full year 2020 Adjusted EBITDA from continuing operations of $153 million improved $78 million from the prior year primarily driven by strong demand for lumber and reduced costs across segments as a result of improved reliability *Generated $73 million of Free Cash Flow through the year ended December 31, 2020 driven by prudent management of capital expenditures and improved working capital; expect $55 million from cash tax refunds during 2021 *Completed refinancing in December to extend maturities, remove financial maintenance covenants and enhance liquidity
Precision Paper Converters (PPC), headquartered in Northeast Wisconsin, celebrates the fourth anniversary of the startup of their Bretting Varium facial line with new additions to increase capacity and capabilities. The Bretting accumulator, Valley Tissue Packaging case packer, Tri-Phase Automation quality vision system and centralized palletizing system will increase capacity and allow additional focus on quality which are both important factors to the continued growth of PPC. Installation was completed by The Boldt Company and Eland Electric Corporation. Startup began mid-December and is expected to be running at full speed in Q1 of 2021.
Ahlstrom-Munksjö works to create innovative products that provide high performance as well as sustainability benefits for customers and consumers. As part of the company’s continuous commitment to sustainability, CelluStraw™ papers are now BPI® certified, in addition to carrying OK compost HOME and OK compost INDUSTRIAL certifications, qualifying compostability in a home environment and in industrial facilities. These certifications facilitate the possibility for Ahlstrom-Munksjö customers, whether converters or brand owners, to achieve their own sustainability goals. By using a scientific process, BPI officially certifies compostable products that meet ASTM D6400 and ASTM D6868 standards for compostability. BPI Certification proves that a material will compost in a composting facility, leaving behind no toxic residue or microplastics.
Overview • Record-high 2020 reported operating income of $727 million; adjusted operating income of $735 million; shareholder net income of $544 million, or $4.35 per share • Fourth quarter of 2020 reported operating income of $420 million; adjusted operating income of $321 million; shareholder net income of $336 million, or $2.68 per share • Net debt of $270 million at December 31, 2020, improvement of $256 million from prior quarter; available liquidity of $1.4 billion; net debt to capitalization of 9.3% at December 31, 2020 • Cumulative cash deposits of $594 million on countervailing and anti-dumping duties at December 31, 2020
Highlights • Robust financial performance with excellent cash generation ▪ Underlying EBITDA of €1,353 million, with margin of 20.3% ▪ Cash generated from operations of €1,485 million ▪ Strong balance sheet at 1.3x net debt to underlying EBITDA • Investing through-the-cycle with capital investment projects delivering growth, enhanced cost competitiveness and sustainability benefits • Delivered against our 2020 Growing Responsibly sustainability commitments and set new ones, the Mondi Action Plan 2030 (MAP2030) • Leveraging long-term trends of sustainability, e-commerce and enhancing our customers' brand value • Well-positioned with cost-advantaged asset base, strong balance sheet and unique portfolio of sustainable solutions
The Board of Directors appointed the following leaders to the Management Committee, effective February 23, 2021: Maria Brennan has been appointed to the role of senior vice president, procurement. James (Bill) Edwards has been appointed to the role of senior vice president, pulp and paper operations. Steven Henry has been appointed to the role of senior vice president, packaging. Stephen Makris has been appointed to the role of senior vice president, business transformation. Robert Melton has been appointed to the role of senior vice president, pulp and paper commercial. In addition, Domtar today announced that Zygmunt Jablonski, senior vice president and chief legal and administrative officer will be departing on April 2, 2021 after 13 years with the company. Nancy Klembus will assume the role of senior vice president, general counsel and corporate secretary. Richard McAtee will assume the role of senior vice president, human resources.
Results for the three months ended December 31, 2020, included: *Net Sales — Net sales were $843 million in 2020, down 21% from 2019, primarily due to the economic impact from the COVID-19 pandemic, and ongoing print industry volume and pricing pressures. However, the fourth quarter decline represents another quarter of sequential revenue improvement during the pandemic, as compared to a 28% decline in the third quarter of 2020 and a 38% decline in the second quarter of 2020. *Net Earnings (Loss) From Continuing Operations — Net loss from continuing operations was $86 million in 2020, or $1.69 diluted loss per share, as compared to net earnings of $7 million, or $0.14 diluted earnings per share in 2019. This variance was mainly driven by $75 million of restructuring and non-cash impairment expenses due to fourth quarter 2020 plant closure announcements, and lower net sales. Results for full-year ended December 31, 2020, included: *Net Sales — Net sales were $2.9 billion in 2020, down 25% from 2019, primarily due to the economic impact from the COVID-19 pandemic, and ongoing print industry volume and pricing pressures. *Net Loss From Continuing Operations — Net loss from continuing operations was $107 million in 2020, or $2.10 diluted loss per share, as compared to a net loss of $56 million, or $1.11 diluted loss per share in 2019. The increase in net loss is mostly due to $35 million of higher restructuring, impairment and transaction-related charges, and lower net sales. *Free Cash Flow — Free Cash Flow was $129 million in 2020, an increase of $23 million from 2019, primarily due to a $50 million decrease in capital expenditures, partially offset by a $27 million decrease in cash earnings.
The U.S. Postal Service announced it awarded a 10-year contract to Oshkosh, WI, based Oshkosh Defense, to manufacture a new generation of U.S.-built postal delivery vehicles that will drive the most dramatic modernization of the USPS fleet in three decades. The historic investment is part of a soon-to-be-released plan the Postal Service has developed to transform its financial performance and customer service over the next 10 years through significant investments in people, technology and infrastructure as it seeks to become the preferred delivery service provider for the American public. Under the contract’s initial $482 million investment, Oshkosh Defense will finalize the production design of the Next Generation Delivery Vehicle (NGDV) — a purpose-built, right-hand-drive vehicle for mail and package delivery — and will assemble 50,000 to 165,000 of them over 10 years. The vehicles will be equipped with either fuel-efficient internal combustion engines or battery electric powertrains and can be retrofitted to keep pace with advances in electric vehicle technologies.
Fourth Quarter 2020 Summary(1) *Total reported sales of $2.3 billion, down 9% versus last year *GAAP operating income of $21 million and net income of $18 million, or $0.34 per share, versus $74 million and $55 million, respectively in prior year *Operating cash outflow of $4 million and adjusted free cash outflow of $4 million, versus $152 million and $135 million, respectively in prior year *$1.7 billion of total available liquidity including $729 million in cash and cash equivalents.
Urban Outfitters has been leveraging the JRNI Appointments solution to deliver personalized customer experiences throughout the pandemic at its Anthropologie and BHLDN brands. Anthropologie and BHLDN have both leveraged the application to support in-store appointments, virtual appointments and email consultations while complying with social distancing requirements. As a result, the brands can provide seamless, personalized experiences to each shopper. Anthropologie and BHLDN have engaged with 25,000 customers since April 2020, with overall transaction volume rising 25%. Customers who booked appointments via the JRNI solution purchased 40% of the time in stores and 65% of the time virtually, delivering higher results than any other channel. For customers, the experience has been seamless. The brands have been able to experiment within the platform with different types of triggers and communications to enhance the customer experience.
Stakeholders from around the world are invited to give feedback on the revised national forest certification system for Switzerland. Deadline for comments is 9 April. Give your feedback now! PEFC Switzerland revised the country’s national forest certification system following the entry into force of the revised 2018 PEFC Sustainable Forest Management standard. After revising the national system in line with PEFC requirements, PEFC Switzerland submitted the revised system to PEFC. The national system is now undergoing the PEFC assessment process, carried out by an independent PEFC Registered Assessor. It must pass this process and be approved by the PEFC General Assembly before it can achieve endorsement.
American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 1.4% in January after rising 1.2% in December. In January, the index equaled 114.6 (2015=100) compared with 113.1 in December. “Over the last four months, the tonnage index has increased a total of 3.3%, which is obviously good news,” said ATA Chief Economist Bob Costello. “However, the index is still off 2.8% from the high in March as tonnage plunged 9% in April alone. I continue to expect a nice climb up for the economy and truck freight as we get more economic stimulus and increased vaccination numbers.” Compared with January 2020, the SA index fell 2.1%, which was preceded by a 2.6% year-over-year decline in December. In 2020, the index was 4% below the 2019 average.
SCA increases the prices on white and brown kraftliner in Europe by €50 per tonne. The new price is valid from April 1, 2021. “The European kraftliner market continues to be strong and stable”, comments Mikael Frölander, VP Sales and Marketing Containerboard.
Q4 Key messages *GAAP net sales, including the impact of dispositions and FX, decreased 5.6%; Non-GAAP organic net sales decreased 4.8%; both decline rates improved sequentially from the prior two quarters *GAAP earnings per share from continuing operations of $0.46 and Non-GAAP adjusted earnings per share from continuing operations of $0.71 both increased significantly from the prior year *Operating cash flow of $124.6 million in the quarter is down from prior year; 2020 amount includes $47 million paid to terminate 25 deferred compensation plans and cash taxes on the gain from selling the Logistics businesses in addition to the expected impact from accelerating working capital improvements to earlier quarters in 2020 *Gross leverage ratio of 3.7x improves 1.0x from September 30, 2020 and 0.5x from December 31, 2019; net leverage ratio of 3.0x improves 0.7x from both September 30, 2020 and December 31, 2019
Through close and enduring collaboration BillerudKorsnäs and Tetra Pak aim to push the figure of renewable material from wood fibre in carton packages towards 100%. Already today the figure is about 70%. New innovations to further increase the sustainability of packages are since long top of the agenda for both companies. “Our mission is to challenge conventional packaging for a sustainable future. 70 % renewable is a good start, and the only way that we can solve the major sustainability challenges we face is to do it together”, says Malin Ljung Eiborn, Director Sustainability and Public Affairs. The collaborative innovation takes the form of a number of defined projects where experts from the two companies work together. BillerudKorsnäs also work together under the auspices of Treesearch, a Swedish collaboration platform for fundamental research, knowledge and competence-building in the field of new materials and specialty chemicals from forest raw material. It involves academia, industry, private foundations and the Swedish government, and aims to turn pioneering fundamental research into high-tech innovations to meet the climate challenge.
There’s seismic news in the media, outdoor, endurance, and tech industries today. Pocket Outdoor Media (parent company to SNEWS, Backpacker, and nearly 30 other active living brands) announced news that will catapult the Boulder-based company into a powerful position in these industries: It has purchased Outside Magazine, Outside TV, Gaia GPS, Peloton Magazine, and athleteReg. Additionally, Pocket Outdoor Media is rebranding to Outside, effective today. “Adding these businesses to our portfolio and rebranding Pocket is a transformative moment for us,” says Robin Thurston, CEO of the all-new Outside. “Together with our other category-leading properties—SKI, Yoga Journal, Backpacker, Trail Runner, VeloNews, Climbing, Warren Miller Entertainment, Roll Massif, FinisherPix, SNEWS, and more—these brands make our new company the world’s leading creator of active living content, experiences, travel, and services. We now deliver content to almost every home in America across every platform, screen, and device.”
Editor’s note from Kyle Field: Having spent 17 years working at a paper plant in a wide variety of roles, I am passionate about finding and sharing solutions for industries built around fossil fuels. The papermaking process is extremely energy intensive and requires thermal energy to dry paper, making it a challenging nut to crack. The path taken by Rolland to clean up its energy footprint is encouraging for the papermaking industry and serves as a model for other gas-consuming industries. As the corporate world continues to examine how to reduce its environmental footprint, and more businesses set strategies with climate change in mind, it is imperative they use energy in a way that’s clean, sustainable, and renewable during their manufacturing processes. At Rolland, we’re committed to industry-leading product quality, continuous improvement and environmental stewardship. This mission is driven by our employees, who help us promote a culture of constant innovation. In honor of National Energy Awareness Month, let’s take a closer look at this important component of our sustainable production process, including the challenge, the opportunity and the outcomes.
Fourth Quarter Highlights *Comparable sales down 17.0% on an owned basis and down 17.1% on an owned plus licensed basis, a reflection of the continued challenges posed by the COVID pandemic. *Digital remained a growing and increasingly profitable platform. Sales grew 21% over fourth quarter 2019, with digital penetration at 44% of net sales. *Approximately 25% of Macy’s digital sales were fulfilled from stores, including curbside pickup and same-day delivery. *The company’s Star Rewards Loyalty program saw a 45% increase of its Bronze tier members in 2020, an essential part of its under-40 strategy. *Gross margin for the quarter was 33.7%, down 310 basis points from fourth quarter 2019. *Inventory down 27% from fourth quarter 2019. *Aggressively addressed slow-selling merchandise, reduced excess inventory levels and improved visual presentation in stores. *Exited the year in a healthy inventory position.
Fourth Quarter 2020: Sales for the fourth quarter of fiscal 2020 were $32.3 billion, an increase of $6.5 billion, or 25.1 percent from the fourth quarter of fiscal 2019. Comparable sales for the fourth quarter of fiscal 2020 increased 24.5 percent, and comparable sales in the U.S. increased 25.0 percent. Net earnings for the fourth quarter of fiscal 2020 were $2.9 billion, compared with net earnings of $2.5 billion, in the same period of fiscal 2019. Fiscal 2020: Sales for fiscal 2020 were $132.1 billion, an increase of $21.9 billion, or 19.9 percent, from fiscal 2019. Comparable sales for fiscal 2020 increased 19.7 percent, and comparable sales in the U.S. increased 20.6 percent. Net earnings for fiscal 2020 were $12.9 billion, compared with net earnings of $11.2 billion in fiscal 2019.
Sealed Air Corporation is announcing a bold new goal to reach net-zero carbon emissions by 2040. This announcement follows the company’s successful execution of its sustainability strategy and performance against its 2020 goal to reduce the greenhouse gas intensity of its operations by 25%. The company far exceeded its 2020 goal by achieving more than a 44% reduction. The company is aiming to establish new benchmarks for mitigating environmental and societal risks such as climate change while generating long-term value for stakeholders and society. Among the actions Sealed Air is taking to reduce carbon emissions within the company’s operations, supply chain, and beyond are: *Adopting state-of-the-art technology and innovation for automated packaging solutions and systems, advanced recycling, and recyclable and renewable materials *Continuing investments in renewable energy such as a solar power project in California and a wind power project in Argentina *Improving efficiencies that reduce emissions in global operations for the company and its customers *Contributing to the reduction of waste across the value chain including making improvements to the shelf life of food and reducing food waste, enhancing transportation efficiency, and protecting goods in transit
⚫ Revenue increased by 7.1% year-on-year to a historical high of RMB 30.9 billion ⚫ Sales volume achieved record high of 8.6 million tonnes ⚫ Net profit1 was RMB 4.0 billion; a year-on-year increase of 75.6% ⚫ Gross profit margin of 20.9%; a year-on-year increase of 3.8 percentage points ⚫ Net profit margin of 13.0%; a year-on-year increase of 5.1 percentage points
Mill Rock Capital, a growth and operations oriented private investment firm, announced that its portfolio company Mill Rock Packaging Partners LLC has acquired All Packaging Company, a leading specialty paper packaging company focused on various consumer end markets. Mill Rock Packaging is a growth-oriented specialty packaging company focused on leading design, innovation and technology; strong operational capabilities and unparalleled customer service. Terms of the transaction were not disclosed. All Packaging, based in Aurora, CO and founded in 1946, is a leading, full-service provider of specialty paperboard packaging to the food and beverage, health and beauty, pharmaceutical and other consumer end markets. The company's comprehensive service suite includes all requirements of a folding carton program, including graphic and structural design, prepress and proofing, printing and converting, in-house cutting and creasing and ancillary services. Customers rely on All Packaging to create packaging that enhances the consumer experience in both retail and e-commerce environments while maintaining brand integrity. All Packaging operates two facilities in Utah and Colorado.
Mondi Group announces a three-year strategic partnership to support the United Nations World Food Programme’s (WFP’s) efforts to save lives, change lives around the globe. The collaboration will see Mondi make a US$1 million in-kind and financial contribution to help WFP improve how it delivers nutritious food over a complex humanitarian supply chain, with an aim to reduce food waste and mitigate the impact of packaging on the environment. The partnership will draw on the infrastructure, knowledge and expertise from Mondi's corrugated solutions, paper bags and consumer flexibles businesses. Over the next three years, the goal is to develop robust and effective guidance for WFP’s global network of food manufacturers and local suppliers as well as for the wider humanitarian community.
American Litho, a leading direct mail solutions provider, has installed the first HP PageWide Web Press T250 HD in the U.S. to boost power to deliver personalized direct mail for digital trigger marketing campaigns. The 22-inch continuous inkjet HP PageWide Web Press T250 with HP Brilliant Ink enables new versatility with an expanded color and paper gamut for high-volume commercial, publishing, transaction, and direct mail applications. “At American Litho, we tailor our capabilities to meet the needs of our customers, and in 2020 we found ourselves adapting more than ever. Investing in our equipment to further propel the powerful combination of print and digital services is vital to providing a standout product every time,” said Frank Arostegui, Executive Vice President of Sales.
Production at UPM sawmills is now running completely on renewable energy. Since the beginning of 2020, no fossil energy sources have been used in production at any of the company’s four sawmills. Fossil-free production enables UPM to produce even more sustainable timber products with the smallest possible carbon footprint, thereby contributing to climate change mitigation. The reduced carbon footprint of UPM’s timber products also helps our customers reach their respective emission reduction targets. UPM has systematically worked to achieve a transition to fossil-free production at its sawmills. Both thermal energy and electricity are used at all UPM sawmills.
The DIY food publishing sector has witnessed two big developments, reflecting conflicting trends. In one, Saveur has killed its print edition and will now focus on email newsletters and other digital content. Saveur’s editors announced last week that “we’ll no longer be producing Saveur as a quarterly print publication. While we understand this might be disappointing, Saveur has been in print for 27 years, and it feels like the right time to shift our focus to better meet our readers where they are.” Hearst’s Delish is going in the opposite direction: It is producing quarterly print editions, each tapping into a consumer food obsession. The first, Breakfast + Brunch will appear on March 2. They will be offered on newsstands and mailed to Delish’s Unlimited membership subscribers.
Many catalog mailers are seeing large increases in revenue and growth in their new-to-file buyers because of the surge in pandemic-driven online purchases. However, with the growth in the number of buyers comes lots of uncertainty. Are these new buyers different than buyers pre-pandemic? The business issue with the significant influx of pandemic buyers is whether they will convert into loyal customers and respond profitably to future catalog mailings. Response rates for pandemic buyers can be quickly tested to know if they are the same or different from the existing base of buyers. The new-to-file buyers can be broken out with precision. Segmenting should be straightforward.
UPS continues to provide essential service amid the ongoing coronavirus outbreak to support the needs of our customers. Our goal is to ensure businesses and customers are able to meet their shipping needs while demand has increased for shipping services. One or more Peak Surcharges will apply to packages shipped during the specified Peak Periods for the origins, destinations, and service levels and in the amounts set forth below. Peak Surcharges apply in addition to all other applicable Charges. Peak Surcharges are subject to change and Peak Periods may be extended or otherwise changed. Shippers should continue to check ups.com/peaksurcharge for updates prior to tendering shipments.
For the week ended Feb. 13, 2021, unit sales of print books increased 21.3% over the week ended Feb. 15, 2020, at outlets that report to NPD BookScan. It was the second consecutive week that unit sales rose by more than 20% over the comparable week last year. The increase was accomplished without the benefit of a big new hit and once again reflected strength across all major categories as well as big gains for backlist titles. The YA categories had the strongest gains, with nonfiction unit sales jumping 71.7% and fiction up 49.3% over 2020. Two anti-racist books—Stamped by Jason Reynolds and This Book Is Anti-racist by Tiffany Jewell—led the increase in YA nonfiction. We Were Liars by E. Lockhart topped the YA fiction list, selling almost 12,000 copies. Juvenile fiction sales rose 25.1% over 2020, and Llama, Llama I Love You by Anna Dewdney was #1 on the category list, selling about 38,000 copies.
The Indonesian Forestry Certification Cooperation (IFCC) recently submitted their national forest certification system to PEFC for re-endorsement. The public consultation, your chance to give your feedback on this revised system, will run from 8 March until 7 May. IFCC, the PEFC national member for Indonesia, revised the country’s national forest certification system following the entry into force of the revised 2018 PEFC Sustainable Forest Management standard. The revised IFCC Forest Certification Scheme is also one of the first national systems submitted to PEFC for endorsement that includes a Trees Outside Forests (TOF) standard. TOF certification was one of the innovative developments of the 2018 PEFC Sustainable Forest Management standard.
Tetra Pak has announced the introduction of certified recycled polymers, becoming the first company in the food and beverage packaging industry to be awarded the Roundtable on Sustainable Biomaterials (RSB) Advanced Products certification. Its carton packages integrating attributed recycled polymers are now available for food and beverage manufacturers. This move marks a key step in Tetra Pak’s approach to circularity which includes: minimising dependency on fossil-based resources; responsibly sourcing raw materials; designing packages for enhanced recycling and reduced litter; and building partnerships to develop effective collection and recycling infrastructure worldwide.
For the week ended February 13, 2021, unit sales of print books increased 21.3% over the week ended February 15, 2020, at outlets that report to NPD BookScan. It was the second consecutive week that unit sales rose by more than 20% over the comparable week last year. The increase was accomplished without the benefit of a big new hit, and once again reflected strength across all major categories as well as big gains for backlist titles. Through February 13, backlist sales were up 32% over the same period in 2020, while frontlist sales rose 3.4%. Total print unit sales through February 13, 2021, were up 22% over the comparable period in 2020.
For the quarter ended December 31, 2020, reported sales increased 12% to $749 million compared to $671 million in the prior year. Core sales, excluding the impacts from changes in currency exchange rates and acquisitions, increased 5%. For the year ended December 31, 2020, reported sales increased 2% to $2.93 billion compared to $2.86 billion reported a year ago while core sales remained flat. The effects of currency translation rates were more than offset by the positive contribution from acquisitions. Cash generated from operations for the year reached $570 million, an increase of 11% over $514 million in the prior year primarily due to better working capital management and the positive impact of recent acquisitions.
Crown Holdings, Inc. has been identified as a global leader for its actions and strategies to reduce emissions and manage climate risks in its supply chain. CDP, a leading global environmental impact non-profit organization, has awarded Crown a Supplier Engagement Rating (SER) of A as part of its annual climate change assessment of companies globally. This rating earns Crown a spot on the 2020 Supplier Engagement Leaderboard and puts the Company in the top 7% of 8,033 companies assessed by CDP. The SER provides a rating for how effectively companies engage their suppliers on climate change. CDP assessed performance on supplier engagement using a company's response to select questions on governance, targets, Scope 3 emissions and value chain engagement in the CDP Climate Change 2020 questionnaire. Climate Action is one of five central pillars of action under Crown's Twentyby30 sustainability strategy. As part of its commitments in this area, the Company has pledged to reduce absolute greenhouse gas emissions (GHGs) from its supply chain (Scope 3) by 16% by 2030 from a 2019 baseline.
The Navigator Company announced today that it will increase tissue prices by 6 to 8% in all markets. This increase will be effective for all dispatches from 1st of April. The Company will inform its clients shortly about the details of the new prices to be applied. This decision was taken following the generalised and significant price hikes in many input cost, notably in commodities like chemical products, packaging products (plastics and containerboard), logistics, and pulp, being the latter the main cost factor for tissue production. The tissue industry has seen abrupt price increases of 15-20% or more in some of these input costs over the last 3 months, which made it impossible not to reflect these in its finished goods prices.
Total packaging papers & specialty packaging shipments in January increased two percent compared to January 2020. The operating rate was 85.8 percent, essentially flat (+0.1 pts.) from January 2020. Mill inventories at the end of January increased 2,000 short tons from the previous month and were up 11,000 short tons compared to January 2020.
After serving the pulp and paper industry for more than 100 years, Solenis is well known as a leading supplier of process and functional chemistries. The Wilmington, Delaware-based company already had a world-class portfolio of products, state-of-the-art monitoring and control systems and a global network of professionals respected for their consultative approach to working with customers. Meanwhile, the Germany-based BASF had built its reputation as an innovative chemical company, and its 2008 acquisition of CIBA expanded its colorants portfolio and expertise even more, establishing BASF as the go-to reference in the market. But every great team can be improved. For Solenis, which did not count colorants expertise as a core competency, the pickup of BASF’s basic dyes, direct dyes and pigment preparations was a key addition that strengthened an already robust portfolio. Now, Solenis has fully assimilated the acquired technologies and is well positioned to offer a colorants portfolio that gives papermakers great flexibility, along with support from a technical team.
National Average Price for Regular Unleaded Current: $2.604; Month Ago: $2.389; Year Ago: $2.450. National Average Price for Diesel Current: $2.822; Month Ago: $2.625; Year Ago: $2.879
American Dollar to Canadian Dollar = 0.792946; American Dollar to Chinese Yuan = 0.154435; American Dollar to Euro = 1.213878; American Dollar to Japanese Yen = 0.009496; American Dollar to Mexican Peso = 0.049113.
Quad/Graphics, Inc. and the Quadracci family’s Windhover Foundation are announcing a three-year, $1 million commitment to The BrandLab, a non-profit dedicated to changing the face and voice of the marketing industry by creating opportunities for young people from diverse ethnic and socioeconomic backgrounds. This new partnership will enable The BrandLab to expand into the Milwaukee community and bring together local agencies, corporations and student interns who identify as Black, Indigenous and People of Color (BIPOC), or who come from low-income families. Already operational in Kansas City and Minneapolis, The BrandLab’s success in bringing young, diverse voices into the creative profession directly aligns with Quad’s decades-long dedication to creating a better way. “The BrandLab starts by exposing students to creative and viable careers before they graduate from high school and then we stay with them on their journey to their first full-time role,” said Ellen Walthour, Chief Executive Officer of The BrandLab. “This is a long-term solution that requires long-range vision from the industry’s top leaders. Quad understands that our work not only advances racial equity, but it makes the creative field so much stronger.”
Fourth Quarter Highlights *Consolidated revenues of $206.9 million were 8 percent higher than the third quarter, but down 3 percent compared to the prior year. The sequential quarterly increase was due to a continued recovery in both segments with a pronounced rebound in Technical Products. *Technical Products revenues of $137.1 million were up 11 percent from the prior year, with record fourth quarter adjusted operating income of $18.0 million driven by record sales in the filtration business. *Consolidated operating income of $14.9 million compared with $22.1 million in the prior year. *Available liquidity of $176 million remained strong, with cash generated from operations of $13.0 million. *Quarterly cash dividends of $0.47 per share increased 4 percent compared to $0.45 per share in the prior year. Full Year Highlights *Revenues of $792.6 million decreased 16 percent compared to 2019, as a result of lower volumes due to the COVID-19 pandemic. *A loss per diluted common share in 2020 of ($0.96) compared to earnings of $3.26 per share in 2019. *In April, the Company published its annual Corporate Sustainability Report, highlighting initiatives and progress in addressing Environmental, Social and Governance matters. *In July, the Company successfully refinanced its Senior Notes and entered into a $200 million Term B Loan due in 2027. *The Company maintained strong liquidity throughout 2020 with careful management of working capital and spending, and ended the year with cash and equivalents of $37 million and no borrowings against its $175 million revolving credit facility.
Award-winning foodie title Saveur is going all-digital under its new private equity owner 27 years after launching to critical acclaim. The food and recipe title was sold in October by Bonnier to North Equity as part of a package of magazines, including Field & Stream, Outdoor Life and Popular Science. North Equity has been buying up distressed print titles, often converting them to all-digital platforms. It also recently purchased decorating mag Domino and also owns bobvila.com.
Fourth-quarter highlights • Total revenue was a record $152.1 billion, an increase of $10.4 billion, or 7.3%. Excluding currency2, total revenue would have increased 7.5% to reach $152.3 billion. • Walmart U.S. comp sales1 increased 8.6% with strength across most key categories. • Walmart U.S. eCommerce sales increased 69% with strong results across all channels. • Sam’s Club comp sales1 increased 10.8% and eCommerce sales grew 42%. Reduced tobacco sales negatively affected comp sales by approximately 410 basis points. Membership income increased 12.9%, the strongest growth in six years. • Walmart International net sales were $34.9 billion, an increase of 5.5%. Net sales in constant currency2 increased 6.3%, led by Flipkart, Mexico and Canada. Changes in currency rates negatively affected net sales by approximately $0.3 billion. • Consolidated gross profit rate increased 29 basis points with positive contributions from each operating segment, led by the U.S.
News Corp announced that it has agreed to an historic multi-year partnership with Google to provide trusted journalism from its news sites around the world in return for significant payments by Google. Among the News Corp publications joining Google News Showcase will be The Wall Street Journal, Barron’s, MarketWatch, and the New York Post; in the UK: The Times and The Sunday Times, and The Sun; and in Australia a range of news platforms, including The Australian, news.com.au, Sky News, and multiple metropolitan and local titles. The landmark three-year agreement also includes the development of a subscription platform, the sharing of ad revenue via Google’s ad technology services, the cultivation of audio journalism and meaningful investments in innovative video journalism by YouTube.
Bookstore sales rallied slightly in December from deep monthly slumps for most of 2020, but were still down 15.2% in the last month of the year compared to December 2019. For all of 2020, bookstore sales fell 28.3% from 2019, according to preliminary estimates from the U.S. Census Bureau. December bookstore sales were $879 million, down from $1.04 billion in December 2019. The 15.2% December drop was the smallest decline since February, when sales slipped 0.7% before the global pandemic struck. In March, sales fell 33.2% as retail lockdowns kicked in, then plunged 74.2% in April as stay at home orders fully took hold. May sales were slightly better, falling 60% from May 2019.
Novolex® announced that it is adding easy-to-understand recycling instructions to more of its plastic bags and packaging. The announcement comes just weeks after Novolex revealed plans to increase its capacity to recycle plastic bags. Novolex, an industry leader in packaging and foodservice products, will add the How2Recycle® Store Drop-off label to products across its business units. These include products from Shields® such as poly mailers for shipping applications and security bags frequently used in the banking industry; and products from Hilex®, including the iconic “Thank You” plastic T-shirt bags, produce bags for conventional and organic items, and the Load & Seal™ Tamper Evident Deliver Bags, which are growing in demand as to-go orders increase at restaurants.
R.R. Donnelley & Sons Company announced its work to create tangible moments for Kindli, a social media alternative focused on positivity and connecting people with acts of kindness. Kindli Cards, printed by RRD, are Kindli’s proprietary, patent-pending method of tracking kind acts all around the world. These cards include a unique, user-specific QR code and personalized messages. Kindli’s strategic partnership with RRD allows for this level of customization. This includes workflows specific to variable programming required for personalized codes and automated order entry, enabling quick speed-to-market regardless of order quantity.
Clearwater Paper Corporation announced that it temporarily suspended its pulp and paperboard operation in Cypress Bend, Arkansas. The cold weather has resulted in the curtailment of natural gas deliveries to the mill as natural gas providers prioritize residential needs. “We are focused on the health and safety of our employees, maintaining our assets, and working to meet customer needs during this unexpected outage,” said Arsen Kitch, president and chief executive officer. “We intend to resume operations as soon as we are safely able to do so.” The company will provide an update on the anticipated impacts of the outage during its fourth quarter and full year 2020 earnings announcement, scheduled for Thursday, February 25.
Fourth Quarter 2020 Highlights: *Revenue of $783 million *Income from operations of $94 million; Net income from continuing operations of $57 million *TiO2 selling prices remained level, benefiting from margin stability initiatives, and sales volumes increased 8 percent versus fourth quarter 2019 driven by improved market demand globally *Zircon volumes increased 48 percent versus fourth quarter 2019 driven primarily by strong demand in China. Full Year 2020 Highlights: *Revenue of $2,758 million *Income from operations of $271 million; Net income from continuing operations of $995 million *Total acquisition synergies of $243 million achieved, exceeding run rate synergy target of $220 million set at Investor Day in 2019; $193 million reflected in EBITDA, exceeding $183 million target set on third quarter 2020 earnings call *Cash flow provided by operating activities of $355 million; *$200 million discretionary debt repayment made in December 2020
In the beginning of 2020 UPM committed to the United Nations Global Compact’s Business Ambition for 1.5°C, promising to pursue science-based measures to limit the global temperature rise to 1.5°C. UPM will meet this commitment by novel uses of their products, reducing CO2 emissions and by practicing climate positive forestry. Wood is renewable and recyclable, and even the production processes can yield important by-products. Biofuels can replace fossil-fuels, paper packaging can substitute plastics, biochemicals can replace fossil-based chemicals in industry and more wood in construction can be better for the environment than using concrete.
Headquartered in Cohoes, New York, Mohawk is North America’s largest privately-owned manufacturer of fine papers and envelopes which are used for commercial and digital printing, social stationery, high-end direct mail and packaging. With a culture of innovation reaching back to its beginning in 1931, Mohawk is committed to providing materials that help make every printed project more beautiful, effective and memorable. A family-owned business since its inception, Mohawk serves the creative needs of designers, brand-owners and printers in more than 60 countries around the globe. A leader in environmentally and socially responsible paper making since the 1980s, Mohawk sources pulp responsibly, conserves the water its craft relies on and harnesses wind power for its mills. Many of Mohawk's recycled and virgin papers are certified by Green Seal and the Forest Stewardship Council (FSC). Mohawk was the first U.S. manufacturer of commercial printing papers to match 100% of its electricity with wind power renewable energy credits (RECs) and the first U.S. premium paper mill to shift toward carbon neutral production.
Michael (“Mike”) A. Weinhold has been named Senior Vice President, Sales - Board, effective February 15, 2021. Mike has held senior leadership positions at Verso Corporation, International Paper and Champion International and brings over 30 years of commercial experience in the paper industry. He will report to Mike Farrell, EVP, Mill Division. We appreciate your support during this time of change. While we work diligently to support your needs and make a smooth transition, we remain focused on the keys to success, including your business and partnership.
UPM has today joined The Climate Pledge, a cross-sector community of world-class companies working together to crack the climate crisis and to decarbonise our economy. These companies are committed to reach the targets of the Paris Agreement well in advance. The Climate Pledge was co-founded by Amazon and the Global Optimism. As a signatory of Climate Pledge UPM will • Measure and report greenhouse gas emissions on a regular basis • Implement decarbonisation strategies in line with the Paris Agreement through real business changes and innovations, including efficiency improvements, renewable energy, materials reductions, and other carbon emission elimination strategies • Neutralise any remaining emissions to achieve net-zero annual carbon emissions by 2040 — a decade ahead of the Paris Agreement’s goal of 2050
The Phoenix Group of Companies, a full-service provider of comprehensive printing, packaging, mailing, and fulfillment solutions in Philadelphia, announced that its affiliate, Phoenix Lithographing, and long-time industry partner ICS Corp., of West Deptford, N.J., are merging forces to create Phoenix-ICS Group of Companies. The new partnership brings together ICS, a direct mail organization offering strategic development and creative services, and Phoenix Lithographing, one of the largest privately-held commercial printing companies in the marketplace. The group will benefit from ICS’s expertise in mailing and creative development, and Phoenix’s comprehensive print production knowledge.
Gannett Co., Inc. and McClatchy, two of the most iconic and acclaimed local media companies, with deep roots in over 300 local communities, are offering national brands the ability to connect seamlessly and more meaningfully with local audiences across a vast multi-channel network. Advertisers will now be able to reach two-thirds of the top local media markets with local properties including the Miami Herald, Austin-American Statesman, The Kansas City Star, Arizona Republic,Detroit Free Press, The Sacramento Bee and more, representing 200 million digital and 8.4 million print consumers through customized, targeted solutions and within a trusted, brand-safe environment. The collaboration simplifies the buying process and facilitates access to local audiences in a highly efficient manner, allowing both companies to better serve their brands’ customers.
Smurfit Kappa announced the launch of a new packing system for its sustainable TopClip product, a paper-based replacement for plastic shrink wrap that bundles beverage multi-packs. This packing system, which is designed for smaller businesses and brands, comes after the launch of their high speed machine with KHS last year. This now completes the portfolio of Smurfit Kappa's end to end solutions for TopClip, ensuring it is suitable for beverage companies of all sizes. The launch of this new packing solution, and the implementation by Czech beer brewer Pivovar Clock, sees the packaging company selected to supply their innovative and sustainable paper-based TopClip for 500ml cans. A modern and creative brewery, Pivovar Clock are noted within the industry for their early adoption of sustainable technology. The brewer uses the latest steam technology and local ingredients to produce their beer.
Worzalla, an employee-owned book printer specializing in printing high-quality children’s books, cookbooks, and hard-cover best sellers, was ranked the fourth largest North American book printer in Printing Impressions’ latest industry rankings titled 2020 Printing Impressions 350. Worzalla was also ranked the 63rd largest book printer by annual sales on the general list that includes all printing companies North America. This is the first time Worzalla has been ranked as a Top 5 Market Segment Leader in the book printing category. Worzalla also rose 24 spots in this year’s general rankings compared to last year. In 2020, Worzalla completed a modernization and expansion plan that added 50,000 square feet to the company’s manufacturing headquarters, upgraded equipment, and added additional associates.
Mercer International Inc. reported fourth quarter 2020 Operating EBITDA increased to $49.5 million from negative $34.2 million in the fourth quarter of 2019 and $45.6 million in the third quarter of 2020. In the fourth quarter of 2020, net loss was $13.0 million (or $0.20 per share) compared to a net loss of $72.7 million (or $1.11 per share) in the fourth quarter of 2019 and net income of $7.5 million (or $0.11 per share) in the third quarter of 2020. In 2020, Operating EBITDA decreased by 8% to $192.7 million from $210.4 million in 2019 and the net loss was $17.2 million (or $0.26 per share) compared to $9.6 million (or $0.15 per share) in 2019.
Domtar has been honored as one of the winners of the Beyond the Bag Challenge, led by the Consortium to Reinvent the Retail Bag — a collaboration convened by Closed Loop Partners with leading retailers, environmental partners, global design firm IDEO and others. The challenge attracted more than 450 global participants, and nine winners were announced on Feb. 16. Though the single-use plastic bag remains ubiquitous in retail operations today, rising concerns about plastic waste have spurred efforts to identify viable alternatives. The consortium assembled leading retailers to find innovative solutions that serve the function of today’s single-use plastic retail bag, offering ease and convenience for consumers while reducing the product’s negative environmental impacts. Domtar’s winning submission is a 100 percent paper-based material that is sourced from a renewable natural resource, robust enough for limited reuse in a bag application and curbside recyclable.
As a consequence of the fast and significant increases in the market price of pulp, Crown Van Gelder will be increasing prices by 6 to 8% per ton on its High Speed Inkjet, Graphical, Label & Packaging grades, in reels & sheets, for deliveries from 1st April 2021.
Norske Skog ASA has successfully completed a EUR 150 million senior secured bond issue with maturity in March 2026. The new bonds will have a coupon of 3 months EURIBOR plus 550 bps. We are satisfied with the strong investor demand and to have secured new long-term financing for the group, allowing us to pursue our strategic growth initiatives, says Sven Ombudstvedt, CEO of Norske Skog. The net proceeds from the bond issue will inter alia be used to refinance Norske Skog’s outstanding bond maturing in June 2022 (“NSKOG01”). The refinancing is part of a group-wide capitalisation process to finance strategic investments into the growing and high-margin recycled containerboard market.
UPM has recently joined the EU’s Clean Hydrogen Alliance and become member of the Roundtable on Clean Hydrogen for industrial users. UPM has also joined the newly established Finnish Hydrogen Cluster. UPM is well-positioned for the hydrogen economy and wants to be proactive in the developments that reduce greenhouse gas emissions. Clean hydrogen is emerging as one of the key enablers for the European Union goal to reach carbon neutrality by 2050. “Clean hydrogen provides several interesting opportunities for UPM. We have an in-house access to renewable and CO2-free electricity, water resources, biogenic CO2 and hands-on experience with hydrogen in our advanced biofuels production in Lappeenranta. Our specific knowhow and resources will enable UPM to develop possible new business opportunities in the emerging hydrogen economy”, states Jyrki Ovaska, Executive Vice President, UPM Technology. Ovaska represents UPM in the EU’s Roundtable on Clean Hydrogen for industrial users.
Pixelle Specialty Solutions LLC has signed a definitive agreement to acquire the carbonless rolls and security papers business of Appvion Operations, Inc. The transaction is expected to close in April 2021 and will not include any Appvion production assets. Carbonless rolls formerly manufactured by Appvion will be manufactured by the Pixelle specialty papers mill in Chillicothe, OH, and security papers formerly manufactured by Appvion will be manufactured by Pixelle or Pixelle supply partners. The acquisition expands the Pixelle product portfolio by building on Pixelle’s established brands of carbonless papers (ExcelOne® and Trans/Rite®) and adding DocuCheck® and DocuMark® security papers to Pixelle’s existing brand (Defensa®).
R.R. Donnelley & Sons Company announces expanded operations in Sacramento, establishing a robust center of excellence for commercial print in Northern California as Pacific Standard Print (PSP). This strategic investment brings new and diverse capabilities to the region for the purpose of serving RRD client needs. After undergoing an extensive year-long renovation, PSP has increased capacity for digital, sheetfed, mailing and print fulfillment services. The new 136,000-square-foot location boasts upgraded, best-in-class digital presses, plus 40-inch offset, sheetfed presses. PSP will offer an elevated security infrastructure for data and mailing services with an increased volume of storage to support critical warehousing and fulfillment needs throughout the region. PSP clients will also benefit from the multitude of complementary services that RRD provides, including advanced analytics, email marketing, content and creative services. PSP has a rich history of delivering on the communication needs of a diverse client base. Whether it’s time-sensitive election-related print, one-to-one direct mail communications, secure healthcare requirements or retail solutions, PSP is uniquely positioned to help clients break through the complexity of their communications while driving out costs, increasing revenue, and mitigating risk.
The Postal Service reported total revenue of $21.5 billion for the first quarter of fiscal 2021, an increase of $2.1 billion, or 11.1 percent, compared to the same quarter last year. Compensation and benefits expense increased by $771 million, or 6.2 percent, compared to the same quarter last year, primarily resulting from higher work hours associated with the record holiday package growth and an increase in paid leave associated with the COVID-19 pandemic, including leave authorized by the Families First Coronavirus Response Act, enacted as Public Law 116-127 (FFCRA). In addition to increased labor costs to support the volume increase, transportation expenses increased by $204 million, or 8.5 percent, compared to the same quarter last year, primarily due to the impact of higher volumes on air and highway transportation. Operating expenses were also impacted by an increase in retirement benefits expenses of $176 million, or 10.9 percent, compared to the same quarter last year, driven by revised actuarial assumptions outside of management’s control. Total operating expenses were $21.1 billion for the quarter, an increase of $1.1 billion, or 5.3 percent, compared to the same quarter last year. Net income for the quarter was $318 million.
Active Interest Media has been acquired by B&W Communications. Financial terms were not disclosed. B&W (Betterment & Wonderment Communications LLC) was launched by Andrew Clurman, the CEO-cofounder of AIM, to acquire enthusiast media brands. The previous owner was Wind Point Partners, a private-equity group from Chicago. AIM's enthusiast titles in the shelter, hobby and boating categories include Anglers Journal, Yachts International, Sail, Power & Motoryacht, Yachts International, Soundings, Horticulture, Popular Woodworking and Writers Digest, among others.
PEFC-certified wood pulp is at the heart of a ground-breaking new sustainable alternative to plastic packaging by Arjowiggins. Sylvicta® is a translucent, functional barrier paper that preserves the quality of food and cosmetics just as well as conventional plastics, while ensuring limited impact on the environment. This pioneering paper is fully recyclable, compostable, bio-degradable and offers a sustainable alternative to single-use plastic packaging. Aimed at eco-conscious brand owners, retailers and converters, it offers a solution that enables them to reduce or even eradicate the use of plastics in their packaging. Bio-based materials are becoming popular as the foundation for sustainable and flexible packaging. “As a paper manufacturer, Arjowiggins is dedicated to protecting and respecting the environment,” said Christophe Jordan, Managing Director of the Translucent Papers division at Arjowiggins.
Aptar announced that its Activ-Film™ technology was selected to protect a new SARS Rapid Antigen test for COVID-19 that recently received Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA). Aptar CSP Technologies’ Activ-Film™ technology is integrated into the diagnostic kit to protect against moisture and other environmental conditions that could otherwise impact test accuracy. Activ-Film™ leverages Aptar’s proprietary 3-Phase Activ-Polymer™ technology, which provides a broad spectrum of custom-engineered protection in a variety of configurations, such as Activ-Vial™ for housing diagnostics dipsticks and Activ-Tab integrated within diagnostic cassettes. This material science-based active packaging technology is currently used to protect a range of electrochemical, lateral flow and molecular diagnostic test kits on the market today.
JobsOhio has provided BurrowsTM with a $400,000 grant to invest in new machinery, equipment and infrastructure at its manufacturing plants in Franklin and Mount Vernon, Ohio. Burrows, a Novolex® brand, will use the grant to support part of its investment for growth at its food-packaging manufacturing plant at 2000 Commerce Center Drive in Franklin and 101 Commerce Drive in Mount Vernon. More than 300 employees work at these facilities. Burrows makes a variety of packaging products for some of the world’s leading casual-dining and quick-service restaurants.
Sun Chemical will increase prices across a broad portfolio of its packaging and commercial sheetfed inks, coatings, and adhesives in North America (also EMEA and Latin America), effective March 15, 2021. A combination of raw material shortages, including petrochemical, vegetable oils and derivatives, dramatically increased international freight transport costs, and demand due to economic recovery, are all contributing factors for the cost increases in Sun Chemical’s raw material feedstocks.
According to the report, total printing-writing paper shipments decreased 25 percent in January compared to January 2020. U.S. purchases of total printing-writing papers decreased 22 percent in January compared to the same month last year. Total printing-writing paper inventory levels increased three percent when compared to December 2020. Uncoated free sheet (UFS) paper shipments decreased 20 percent compared to January 2020 while the inventory level increased three percent compared to December 2020. UFS imports increased 41 percent while exports decreased 40 percent in December 2020.U.S. purchases of coated free sheet (CFS) papers in January decreased 32 percent compared to last January while the inventory level increased two percent compared to December 2020. CFS imports and exports both decreased compared to December 2019, down 21 percent and six percent respectively. Coated mechanical (CM) paper shipments decreased 33 percent compared to January 2020 while the inventory level remained essentially flat (+0.1 percent) compared to December 2020. CM imports decreased 34 percent while exports increased 12 percent in December 2020. U.S. purchases of uncoated mechanical (UM) papers in January decreased 24 percent compared to last January while the inventory level increased 14 percent compared to December 2020. UM imports and exports both decreased compared to December 2019, down 19 percent and eight percent respectively.
Mondi Steinfeld in Germany has been certified as CO2 neutral for its manufacturing processes by ClimatePartner, an organisation which supports companies in reducing and offsetting their CO2 emissions. This certification was awarded as a result of Mondi Steinfeld switching to renewable energy and supporting certain climate projects in 2020. Once the total emissions of the plant were calculated in 2019, ClimatePartner helped the plant find further ways to reduce, and then offset, its emissions with climate projects and measures such as switching to hydropower. As part of this certification, the plant in Steinfeld combined carbon offsetting with participation in a number of carbon trust projects. These projects engage in local and international reforestation efforts to protect environmentally sensitive regions, such as Brazil and some parts of Europe. The next local project will focus on protecting an environmentally vulnerable moor close to Lichtenau in Germany through reforestation, to protect diverse ecosystems and habitats for a variety of wildlife.
Moore announces the acquisition of Worcester Envelope Company, an industry leader specializing in custom envelope manufacturing. This acquisition comes less than 12 months from the $31 million investment Moore made in envelope manufacturing with the opening of Richmond Print Group in Virginia. Moore is investing in Worcester Envelope to expand its envelope manufacturing in overall capacity, redundancy and location diversification. Based in Auburn, Massachusetts, Worcester Envelope specializes in the manufacturing of high color direct mail envelopes to service the medium to large volume mail industry.
Dear Industry Member: Here is immediate action you can take while ACMA works furiously to raise the resources to comprehensively attack the ridiculous new USPS rate authority that will double catalog mailers’ postal rates over the next decade. Please determine whether you (catalog merchant), your employees, suppliers or customers have constituent standing in any of the following locations where there are Members of Congress with direct connections to postal decision makers: West Virginia, Kentucky, northern Virginia, New York, North Carolina, Oklahoma, Arizona, North Carolina, Kansas, Georgia, and Connecticut (click here for contact sheet). If you do, you have a unique ability to wield constituent pressure to cause elected officials to pressure the Postal Service Board of Governors to not institute a second unbudgeted rate hike, which could take place as soon as this summer. Click Read more below for important information.
Avery Dennison said it has agreed to acquire JDC Solutions, Inc., a privately owned manufacturer of pressure-sensitive specialty tapes headquartered in Mount Juliet, Tennessee, for the purchase price of $24 million. JDC employs approximately 75 employees located at its headquarters and manufacturing site in Tennessee, with approximately $30 million in annual revenue. JDC manufactures specialty tapes for use in a variety of high-value industrial applications, and has longstanding relationships with U.S. converters serving the automotive, consumer appliance, and building and construction industries, among others. Upon completion of the acquisition, JDC’s manufacturing operations, workforce and product portfolio will become part of Avery Dennison’s Performance Tapes North America business. The acquisition is expected to close in Q1, subject to customary conditions and approvals.
The China Forest Certification Council (CFCC) submitted their national forest certification system to PEFC for re-endorsement in December 2019. The public consultation, which is your chance to give your feedback on this revised system, will run from 1 March until 30 April. CFCC, the PEFC national member for China, revised the country’s national forest certification system following the entry into force of the revised 2018 PEFC Sustainable Forest Management standard. The revised China Forest Certification Scheme is also the first national system submitted to PEFC for endorsement that includes a Trees Outside Forests (TOF) standard. TOF certification was one of the innovative developments of the 2018 PEFC Sustainable Forest Management standard.
Ox Industries has acquired Corex US, LLC. The Corex facility, located in Stevens Point, Wisconsin is a manufacturer of spiral wound tubes and cores customized for any application. This facility adds high strength paper core production technology for plastic film and paper mills to the Ox converted product line. Ox Industries is again furthering their reach with converted products in the Midwest. Kevin Hayward, Ox Industries’ CEO stated, “We couldn’t be happier about this acquisition. The Stevens Point facility expands our converted products footprint in the Midwest, and we’re adding a solid team to our organization. We welcome the employees and anticipate great things out of this facility.” The Corex US facility will be vertically integrated within the Ox paper mill network and immediately operational.
Crown Native is available for sale starting from February 2021 after 2 years of development. Environmental friendly and food compliant. The commercialization of the sugar beet paper makes Crown Van Gelder the first in the world to produce 'sugar beet paper' at an industrial level. The new product line called 'Crown Native' reduces the environmental impact by 16% through the usage of less wood fibers compared to traditional paper. A second advantage of using sugar beet pulp is that it is FDA* compliant. Crown Native is also approved by the BfR36** and suitable for food packaging, unlike most types of recycled papers that contain print ink residue. This makes sugar beet paper the ideal choice for product packaging and also for shopping bags or promotional print. Crown Native is the perfect fit for brands with a sustainability ambition.
We’re proud to receive recognition from EcoVadis and the American Forest & Paper Association (AF&PA) for our outstanding sustainability work in 2020. EcoVadis, a leading third-party provider of business sustainability ratings, measures performance across four categories when making their determination: Sustainable Procurement, Ethics, Labor & Human Rights, and Environment. Sappi North America’s overall score puts us in the top 1% of pulp and paper companies assessed. AF&PA named Sappi North America a recipient of its coveted Leadership in Sustainability - Water Award as part of its Better Practices, Better Planet 2020 Sustainability Awards program. Recognized for its “Caustic Reclaim and Reuse” project at its Somerset Mill in Skowhegan, Maine, the project reduced chemical demand and water usage at the site. Read more at: https://cdn-s3.sappi.com/s3fs-public/Sappi%20North%20America%20Sustainability%20Highlights.pdf
For the Three Months Ended January 2, 2021 (14 Week Period): Net sales increased 26% to $375.8 million, compared to $297.6 million during the same period last year. Gross profit increased 39% to $224.8 million, or 59.8% of net sales, compared to $162.3 million, or 54.5% of net sales, in the fourth quarter of Fiscal 2019. Operating income increased to $81.4 million, or 21.7% of net sales, compared to $12.0 million, or 4.0% of net sales, during the prior year quarter. For the Twelve Months Ended January 2, 2021 (53 Weeks): Net sales increased 19% to $1,091.7 million, compared to $913.7 million in the prior year. Gross profit increased 32% to $628.8 million, or 57.6% of net sales, compared to $475.3 million, or 52.0% of net sales, in the prior year. Operating income increased 139% to $214.2 million, or 19.6% of net sales, compared to $89.8 million, or 9.8% of net sales, during the prior year.
Sales of print books continued to ride a hot streak into February with units jumping 25.7% in the first week of the month over the first week of February 2020 at outlets that report to NPD BookScan. The increase was the highest yet this year, and unit sales of print books were up 22.1% through February 6, 2021. Once again, all six major categories had double-digit sales increases over 2020, with sales in the young adult segments skyrocketing; fiction was up 55.7%, and the small nonfiction category rose 67.3%. The latter category benefited from the release of Brave by Sissy Goff, which landed in second place in its first week on sale and led to a 158% jump in sales in the social situations/family/health sub-category. The jump in fiction sales was spurred by the release of two new titles: Star Wars, The High Republic: Into the Dark by Claudia Gray topped the category bestseller list, selling more than 17,000 copies in its first week on sale, while Scott Cawthon’s The Twisted Ones sold over 9,000 copies.
It’s been a busy start to the year and for us, much of that has been driven by the changing relationship we are seeing between consumers and packaging. Whether it is the growth in online shopping or a personal desire to be greener and more ethical in our consumption, we are seeing significant shifts in how we all relate to packaging materials. And as we build on these experiences, this year presents a unique opportunity for all of us: to shake up the green and circular economy agenda and be bold in our thinking. A recent article in Forbes noted that 2021 was the ‘Year of the Package’ and we continue to see the impact of that every day. At DS Smith, we only make fully recyclable paper-based packaging and are committed to a future free of plastics.
The Mayr-Melnhof Group has reached an agreement that International Paper Holding sp. zoo ("Kwidzyn") from International Paper for around EUR 670 million and to assume additional liabilities of around EUR 33 million from usufructuary rights and operating leases according to IFRS. The acquisition of Kwidzyn is part of MM's strategy to grow in the high-quality virgin fiber board (FBB) sector with innovative, sustainable and cost-effective qualities. The planned transaction will have an immediate impact on earnings. At the integrated pulp and paper site in Poland, Kwidzyn operates a pulp mill with a capacity of around 400,000 t pa and four connected cardboard/paper machines: the core is an FBB board machine with a capacity of 260,000 t pa.
The Navigator Company achieved a Sustainalytics’ ESG Risk Rating score of 17.2 in December 2020. This is an improvement over previous years and allows the company to maintain its "Low ESG Risk Company" status for investors. The ESG Risk Ratings by Sustainalytics measures a company's performance in terms of sustainability by evaluating exposure to material ESG (environmental, social, and governance) risks and how the Company manages those risks. Navigator ranks 5th among a list of 79 global companies assessed by Sustainalytics in the Paper & Forestry industry cluster and 4th in the subset of 62 global companies in the Paper & Pulp cluster.
TenderGuard™ BioBased can be used as an inner or outer coverstock layer of a civil face mask. It is highly breathable, biocompatible, and non-irritating, so it's gentle on the skin and comfortable to wear for long durations. Mainly comprised of polylactic acid, which is a biopolymer made from sustainable and renewable sources, TenderGuard™ BioBased is an alternative to synthetic spunbond material. TenderGuard™ BioFilter is a sustainable filter media that can be used as a single layer or combined as a double layer for higher filtration performance in a barrier face covering. This unique fabric is made up of a special blend of cellulosic and cellulose-based manmade fibers making the filter media 100% bio-based. The TenderGuard™ product portfolio consists of protective fabrics applicable for medical use as well. TenderGuard™ Natural is a wetlaid fabric that can be used as the inner or outer layer of a face mask. It is environmentally friendly, and the hypoallergic inner layer makes it super soft for the wearer. With both layers together, TenderGuard™ Natural achieves nearly 50% Bacterial Filtration Efficiency, which is remarkable without a filtration layer included. TenderGuard™ Smooth consists of bicomponent spunbond fabrics that are made with a proprietary technology that minimizes raised fibers. This creates a smooth surface to help eliminate any skin irritation, which is essential when it comes to a face mask. TenderGuard™ Smooth is hypoallergenic, so it is gentler on the skin, making it ideal to wear for long durations.
At Lecta we remain firm in our commitment to the environment and sustainability, offering natural paper solutions in which quality assurance is always guaranteed. We are now proud to present Recytal Matt, a new 2-side coated recycled paper in a natural white shade, with excellent results with all types of printing methods. Obtained from 100% recycled fiber, this new paper generates less waste, promoting a circular economy. The Recytal Matt range has FSC® Chain of Custody certification and is available in substances from 90 to 240 g/m2 in sheets and reels. It is suitable for an extensive range of applications such as books, brochures, catalogs, direct marketing, folders, inserts, magazines, environmental reports, etc. Recytal Matt is the natural choice for all types of high-quality prints and finishes, contributing to a more sustainable world.
National Average Price for Regular Unleaded Current: $2.500; Month Ago: $2.333; Year Ago: $2.425. National Average Price for Diesel Current: $2.740; Month Ago: $2.600; Year Ago: $2.898
American Dollar to Canadian Dollar = 0.785016; American Dollar to Chinese Yuan = 0.154850; American Dollar to Euro = 1.209565; American Dollar to Japanese Yen = 0.009519; American Dollar to Mexican Peso = 0.049917.
Plastic credits are poised to generate the momentum necessary to launch a circular plastic economy and give brands the opportunity to act. In order for brands to take action, they will need to follow these four priorities … The world’s plastic crisis is only growing worse: Plastic production continues to expand and single-use plastic has skyrocketed, thanks to COVID — and frankly, waste management cannot keep up. To make matters more challenging, there is no silver bullet to the plastic crisis. Our society requires plastic to function, but its consumption and disposal need to change drastically. As trillions of microplastics circulate our oceans and plastics choke our environment, accelerating system change is essential and imminently required. Aggravating the issue is the complexity of tackling the severe environmental and human costs. Currently, the ethical disposal and management of waste are starkly underfunded. In the next 20 years, we need $600 billion to bridge the evident funding gap in our system and turn this crisis around.
Domtar Corporation reported a net loss of $59 million for the fourth quarter of 2020 compared to a net loss of $92 million for the third quarter of 2020, and a net loss of $34 million for the fourth quarter of 2019. Sales for the fourth quarter of 2020 were $0.9 billion. The fourth quarter 2020 results include an after-tax loss of $43 million from discontinued operations related to the announced sale of the Personal Care Business, compared to earnings of $19 million for the third quarter of 2020 and earnings of $10 million for the fourth quarter of 2019. Excluding discontinued operations and the items listed below, the Company had earnings from continuing operations before items1 of $19 million for the fourth quarter of 2020, compared to loss from continuing operations before items1 of $1 million for the third quarter of 2020 and loss from continuing operations before items1 of $9 million for the fourth quarter of 2019.
January–December 2020 (compared to 1–12/2019) • Sales were EUR 1,889.5 million (1,931.8). • Comparable operating result was EUR 221.2 million (184.4) or 11.7% (9.5%) of sales. Operating result was EUR 227.3 million (180.8). • Comparable earnings per share were EUR 0.46 (0.41), and earnings per share were EUR 0.48 (0.41). • Comparable return on capital employed was 12.2% (10.4%). • Net cash flow from operations was EUR 307.7 million (200.5). October–December 2020 (compared to 10–12/2019) • Sales were EUR 473.1 million (478.4). • Comparable operating result was EUR 64.5 million (39.1), or 13.6% (8.2%) of sales. Operating result was EUR 64.5 million (20.0). • Comparable earnings per share were EUR 0.14 (0.09), and earnings per share were EUR 0.14 (0.05). • Comparable return on capital employed was 14.3% (8.9%). • Net cash flow from operations was EUR 81.0 million (89.6).
Metsä Board launches a development programme for its white-top kraftliner mill in Kemi, enabled by Metsä Fibre's new bioproduct mill investment announced today. The development programme is a significant step towards the company's sustainability targets for 2030. Metsä Board and Metsä Fibre are parts of Metsä Group. Metsä Board owns 24.9 per cent of its associated company Metsä Fibre. The development programme will increase the mill's annual paperboard capacity by approximately 40,000 tonnes. The programme includes a series of modernisation and bottleneck investments in the paperboard production line, and as part of the programme, Metsä Board will purchase the modernised unbleached pulp production line with an annual capacity of approximately 180,000 tonnes from Metsä Fibre in 2023. The total investment value of the programme is approximately EUR 67 million, divided in 2021–2023, and mainly in 2023. The development programme will reduce the Kemi paperboard mill’s water consumption by about 40 per cent and energy consumption by about 5 per cent per tonne of paperboard produced. Metsä Board's company-level target is to reduce water consumption by 30 percent and energy consumption by 10 percent per tonne of paperboard produced by 2030 compared to 2018.
Q4 2020 in brief • Net sales decreased 7% to EUR 813 million (EUR 875 million) • Comparable net sales growth was -2% at Group level and -7% in emerging markets • The impact of currency movements was EUR -52 million on the Group’s net sales and EUR -5 million on EBIT. Q1-Q4 2020 in brief • Net sales decreased 3% to EUR 3,302 million (EUR 3,399 million) • Comparable net sales growth was -2% at Group level and -6% in emerging markets • The impact of currency movements was EUR -89 million on the Group’s net sales and EUR -8 million on EBIT • Capital expenditure was EUR 223 million (EUR 204 million) • Free cash flow was EUR 207 million (EUR 226 million)
The U.S. Postal Service reported fourth-quarter 2020 revenue and service volume Tuesday, reflecting the end of a year of turbulence -- both pandemic and political -- including its impact on marketing. While the report did not offer explanations for the shifts, the bottom line was a pronounced decline in media-related revenues -- both marketing mail and periodicals -- although commerce-related shipping services soared. The decline in marketing mail -- 5.6% in revenue and -3.9% in volume -- is significant, given that the fourth quarter of 2020 included what would normally be an exception period of political direct-mail marketing, in what otherwise was a banner year for political media and marketing spending.
Net sales for the fourth quarter were $1.4 billion, an increase of $67.5 million, or 5.2 percent, from last year’s quarter. Sales grew during the quarter due to strong volume gains, higher selling prices and acquisition sales net of divestitures. Because of the Company's accounting calendar, the fourth quarter of 2020 included two additional days when compared to the prior year quarter. The GAAP net loss attributable to Sonoco in the fourth quarter was $(11.6) million, or $(0.12) per diluted share, a decrease of $56.5 million, compared with GAAP net income of $44.9 million, or $0.44 per diluted share, in 2019. Base earnings in the fourth quarter were $83.0 million, or $0.82 per diluted share, an increase of $6.6 million, compared with $76.4 million, or $0.75 per diluted share, in 2019.
Atlantic Printing & Graphics has a legacy of meeting our customers needs and growing right alongside them. As our customers’ product lines gain in popularity, we’ve been able to expand our capacity to stay right in step with them. Our latest example of this commitment is the installation of new KBA Wide Format Printer and Bobst Die Cutter. We’ve always operated on a traditional printing press format – 28 x 40 – but we saw an opportunity this past year to branch out and enter new markets. With the KBA 6 color printer, we can print 47.25 x 63.50. This is significantly larger and gives us a whole new capacity and output. We installed the Bobst Die Cutter to support the materials we’re creating on the KBA printer. These pieces of equipment together are incredible and put Atlantic Printing & Graphics in a whole new playing field. We are set up to service and support our current and new large customers with their needs for printing, folding cartons, and much more.
JANUARY–DECEMBER 2020 (1–12/2019) *Sales were EUR 5,055 million (5,473). *Operating result was EUR 376 million (374). The comparable operating result was EUR 368 million (495). *The result before taxes was EUR 330 million (316). The comparable result before taxes was EUR 322 million (436). *Comparable return on capital employed was 7.1% (9.6). *Net cash flow from operations was EUR 667 million (485). OCTOBER–DECEMBER 2020 (10–12/2019) *Sales were EUR 1,357 million (1,290). *Operating result was EUR 97 million (32). The comparable operating result was EUR 94 million (76). *The result before taxes was EUR 88 million (18). The comparable result before taxes was EUR 86 million (62). *Comparable return on capital employed was 7.4% (6.1). *Net cash flow from operations was EUR 306 million (232).
Rising numbers of manufacturing businesses are turning to digital technologies to help improve their operational resilience and efficiency and support their customer growth strategies. More than two-thirds of manufacturers (67%) have accelerated their adoption of digital technologies as result of the Coronavirus pandemic, according to a major new report published today by The Manufacturer and IBM. With just 16% of manufacturing organisations choosing to pause their adoption projects, it is clear that the majority of businesses now recognise the strong correlation between digital tools and increased productivity, efficiency and resilience.
Leading global packaging and paper group Mondi is launching a range of new paper-based release liners which are created using recycled and light-weight materials and provide a more sustainable solution for a range of applications. The new products have been created with FSC®1 or PEFC® certified paper to ensure responsible sourcing and, being lighter in weight, they offer a sustainable solution for labels, tapes, envelopes and industrial usage. EverLiner labelite is a lighter option to standard glassine for label applications, with the same thickness of 58 gsm glassine but engineered to a reduced weight of 47 gsm. This results in 20% less raw material used to produce the liner. EverLiner M R is the first release liner on the market using a recycled base paper. The machine glazed paper (MG) with 70% FSC® recycled certified content reduces the amount of fresh fibres used and is FSC® certified so ensures responsible sourcing.
Urban Outfitters, Inc. announced net sales for the three months and year ended January 31, 2021. Total Company net sales for the three months ended January 31, 2021, decreased 6.9% over the same period last year to $1.09 billion. Comparable Retail segment net sales decreased 7% due to negative retail store net sales as stronger conversion rates could not offset the reduced store traffic caused by the coronavirus pandemic and related occupancy restrictions. Lower store net sales were partially offset by strong double-digit growth in digital channel sales. By brand, comparable Retail segment net sales increased 6% at Free People and decreased 6% at Urban Outfitters and 11% at the Anthropologie Group. Wholesale segment net sales decreased 7%. “I am pleased to report that all three brands registered nice improvement in ‘comp’ sales trends in January from that delivered during the Holiday period,” said Richard A. Hayne, Chief Executive Officer. “We are particularly pleased with how well the brands transitioned into February. Customer reaction to our spring assortments has been quite strong and ‘comps’ for the first week of the new fiscal year were positive at each brand,” finished Mr. Hayne.
*Reported Results: For the full year 2020, the company recorded earnings from continuing operations of $1.57 per share (diluted), compared with a loss of $2.56 per share in 2019. Current year earnings from continuing operations before income taxes were $353 million, compared to a loss of $261 million in the prior year. Both periods included items management considers not representative of ongoing operations. Cash provided by continuing operating activities was $457 million in 2020, compared with $408 million in 2019. *Segment Operating Profit1: Full year 2020 segment operating profit was $678 million compared to $856 million in 2019. Higher selling prices more than compensated for cost inflation, but were more than offset by the impact of 4 percent lower sales volume and approximately 7.5 percent lower production volume due to the pandemic. Turnaround initiatives, strong operating performance and cost control measures partially offset the impact of lower production levels. *Cash Flows: Cash provided by continuing operating activities was $457 million in 2020, compared with $408 million in 2019. 2020 free cash flow1 was $146 million which exceeded the company’s guidance of more than $100 million free cash flow in 2020.
Mittera, a North American leader in print and integrated marketing services and listed as the 26th largest printing company according to the latest data from Printing Impressions, officially launched its new Koenig & Bauer Rapida 105 PRO eight-color 41˝ press at its New York facility in Ronkonkoma, Long Island, in early December 2020. Mittera CEO Jon Troen joined Michael Clark, the facility’s president, press operators, employees, and management at a special ribbon cutting ceremony to mark the event. Everyone expressed enthusiasm over the capabilities of the new press and the potential for the new business it will generate. “This is not just another sheetfed press investment for Mittera,” says Troen. “It is a game-changer. With two coating towers in addition to a Corona treatment unit and Rainbow printing unit, this press will allow our company to expand further into specialty packaging, as well as plastics printing. The technology Koenig & Bauer was able to deliver on this press will allow us to set a new standard for high quality printing ranging from truly unique marketing and packaging pieces to specialty security printing.”
Q4/2020 compared with Q4/2019*Net sales decreased by 1.7% to EUR 689.2 million (701.3). At constant currency rates, net sales increased by 3.5% on higher volumes *Comparable EBITDA improved to EUR 89.6 million (70.5), representing 13.0% (10.1) of net sales, supported by lower variable costs and higher volumes *Operating result improved to EUR 43.7 million (16.0), supported by higher comparable EBITDA and lower items affecting comparability (IAC). Q1–Q4/2020 compared with Q1–Q4/2019: *Net sales decreased by 8.0% to EUR 2,683.3 million (2,915.3). At constant currency rates, net sales decreased by 5.3% due to lower selling prices and a less favorable product mix. *Comparable EBITDA increased to EUR 334.2 million (312.9), representing 12.5% (10.7) of net sales, supported by lower costs *Operating result improved to EUR 176.2 million (103.2), supported by a capital gain of EUR 32.0 million from the sale of the fine art paper business and lower items affecting comparability (IAC)
Yet another effort is underway in Congress to eliminate the costly prefunding of U.S. Postal Service retiree healthcare benefits that have been an albatross for the USPS since a 2006 reform measure, and this time appears to have some more bipartisan momentum. A reform act that would eliminate the prefunding, which has cost the USPS many billions over the years, passed the House in 2020 but was hung up in the Senate. Now senators Brian Schatz (D-HI) and Steve Daines (R-MT) have reintroduced the measure, according to Federal News Network. A companion bill has been proposed by House Oversight and Reform Committee Chairwoman Carolyn Maloney (D-NY) and House Transportation and Infrastructure Committee Chairman Peter DeFazio (D-OR), along with Reps. Brian Fitzpatrick (R-PA), Tom Reed (R-NY) and Colin Allred (D-TX).
It has been announced that Amcor has been included within the S&P SAM Sustainability Yearbook, highlighting that it is making real progress on its ambitious sustainability goals. Amcor’s inclusion reflects the progress it has made, which includes reducing the intensity of its greenhouse gas emissions by 36%* since 2006. The Company has also been leading the packaging industry by creating innovative designs that are made in a more efficient way and use more recycled material. The Company is committed to making 100% of its packaging reusable or recyclable by 2025. Along with its inclusion in the SAM Sustainability Yearbook, Amcor’s efforts have seen it be recognised by a range of organisations over the last year, with the CDP scoring it an “A-” grade for Climate Change in its annual ratings.
Key Points *EBITDA of €1,510 million with an EBITDA margin of 17.7% *Strong Free Cash Flow of €675 million *ROCE of 14.6% *Increased sustainability targets including net zero CO2 emissions by 2050 *Successful capital raise of €660 million to pursue attractive growth opportunities *Final dividend increased by 8% to 87.4 cent per share
Interfor Corporation announced that it has reached an agreement with WestRock Company to acquire its sawmill located in Summerville, South Carolina (the “Summerville Mill”) for cash consideration of US$59 million. For the 12 months ended December 31, 2020, the Summerville Mill produced approximately 125 million board feet of lumber. A new permit was received in 2020 that allows for the production of up to approximately 200 million board feet of lumber per year and Interfor has identified a number of operational and capital investment initiatives to optimize and increase production going forward. The Summerville Mill is located 65 miles southwest of Interfor’s Georgetown, South Carolina mill and 115 miles northeast of Interfor’s Meldrim, Georgia mill. This strategic positioning will allow for log sort optimization and procurement synergies across these three mills.
Solenis will increase prices by up to 8 percent on all polyacrylamide polymers and retention aids across the EMEA region, effective March 1, 2021, or as customer contracts allow. The price increase is necessary due to the major impact on key feedstock costs. Several Force Majeure situations at major acrylonitrile producers in EMEA and North America over the last few months have caused a shortage in product availability, significant cost increases and production and supply chain issues. Acrylonitrile is the key raw material for making acrylamide monomer and polyacrylamide polymers used in papermaking, municipal water treatment, mining and oil and gas applications. “Solenis is making every effort to overcome this shortage and secure a cost-competitive supply of polyacrylamides to our customers. We thank our customers for their continued business and partnership,” said Dr. Norbert Steiner, director, Global Product Management, Industrial Polymers.
Kruger Products’ mill in Gatineau, Que. is receiving $15,000 from the federal government to help implement an energy management information system (EMIS). The tissue manufacturer matched the contribution to the project, bringing the total investment to $30,000. The EMIS is expected to further reduce energy costs and improve energy efficiency. Kruger Products has reduced its energy consumption intensity by 15 per cent and its greenhouse gas emissions intensity by 28 per cent since 2009.
Fourth quarter net income decreased 16% to $454 million and diluted earnings per share decreased 15% to $1.88 as the Company took a number of lease impairment and restructuring charges aimed at improving future financial performance. Adjusted net income for the fourth quarter increased 5% to $654 million due to revenue growth, productivity improvements, and a lower effective tax rate partially offset by increased investment spending. Adjusted diluted earnings per share increased 7% to $2.71 benefiting from a 2% decrease in the average diluted shares outstanding. Pre-tax adjustments in the fourth quarter of 2020 totaled $247 million primarily due to office lease and equipment impairments, and restructuring charges all intended to improve future financial performance. Additional pre-tax adjustments included IHS Markit merger costs, deal-related amortization, and Kensho retention-related expenses. For the full year, revenue increased 11% to $7.44 billion. 2020 net income increased 10% to $2.34 billion and diluted earnings per share increased 12% to $9.66. 2020 adjusted net income increased 20% to $2.83 billion and adjusted diluted earnings per share increased 23% to $11.69.
Kohl’s announced it will partner with Eddie Bauer to bring premium-quality performance outerwear and outdoor apparel for the entire family to Kohl’s customers nationwide in Fall 2021. Kohl’s will offer a wide array of apparel from the outdoor brand across women’s, men’s and kids – from a core assortment of year-round products to seasonal selections – in as many as 500 stores. In addition, Kohls.com will offer an expanded assortment of Eddie Bauer favorites including down jackets and parkas, performance bottoms, fleece, flannel, sleepwear, and more – providing families with everything they need for their outdoor adventures. “We are excited to partner with Eddie Bauer, a brand synonymous with outfitting families for any activity or adventure, to bring their assortment of award-winning, high-quality activewear and outerwear to millions of Kohl’s customers,” said Doug Howe, Kohl’s chief merchandising officer. “Eddie Bauer’s rich heritage of designing authentic, functional apparel that inspires everyone to get outdoors combined with their passion for delivering differentiated, innovative products that meet the needs of today’s consumer has made the brand a leader in the outdoor industry. The addition of the Eddie Bauer brand into our portfolio acutely aligns with our ambition to grow our active and outdoor business, and attract new and younger customers to Kohl’s.”
Sonoco ThermoSafe and AirBridgeCargo Airlines have successfully conducted a test shipment with ThermoSafe’s new Pegasus ULD®, the world’s first passive bulk temperature controlled container for pharmaceutical use that is an approved unit load device. The complexity and duration of the journey made this initial shipment an ideal case study. The entire shipping process involved multiple segments of ground and air transportation, starting in London and including stops in Amsterdam, Moscow and Frankfurt, extending beyond 130 hours. The Pegasus ULD contains a fully integrated, FAA-approved telemetry system, providing real-time, cloud-based data on both payload and ambient temperature and key environmental factors, precisely synchronized with GPS location, which confirmed that the internal temperature held between 2°C and 8°C throughout the entire journey.
Fourth quarter net sales of $1.3 billion increased 3% as reported. Fourth quarter 2020 net earnings were $138 million, or $0.88 per diluted share, which were unfavorably impacted by Special Items of $2 million, after tax. Full year 2020 net sales of $4.9 billion increased 2% as reported. Currency had a negative impact on total net sales of $82 million or 2%. Full year 2020 net earnings were $484 million, or $3.10 per diluted share, which were unfavorably impacted by Special Items of $14 million, after tax.
Mactac®, a leading supplier of pressure-sensitive papers and films, and ARMOR, a leader in the design and production of thermal transfer ribbons, are working together to deliver more sustainable thermal transfer solutions to the labeling industry. “By focusing on sustainable product development, Mactac and ARMOR are helping ensure the labeling industry is making strides in reducing the impact on the environment – which is a priority of Mactac and our parent company, LINTEC,” says Sara Damante, Senior Marketing Manager, Mactac Performance Adhesives. Tim Maher, Director of Sales for ARMOR North America adds, “ARMOR adopts a long-term vision of its business, deeming sustainability essential to success. Our eco-design efforts focus on developing products that deliver measurable benefits. Our inkanto® AWR 8 ribbon is manufactured with our Solfree™ coating process making it the only true solvent-free ribbon in the world. Additionally, our reduced film content ribbons deliver exceptional performance while improving the carbon impact on the environment.”
Mondi has successfully developed a new recyclable functional barrier paper range. Designed with protection in mind, this range of certified recyclable barrier paper solutions is fully integrated across Mondi’s value chain—from paper production to the barrier application—and can run on existing filling lines for form-fill-and-seal (FFS) applications. Mondi’s AegisPaper range reduces the amount of plastic used by replacing it with a renewable resource that has specific mechanical properties, such as puncture resistance, flexibility, printability and barrier protection. Within AegisPaper, there are three grades available for different applications and requirements: *AegisPaper select offers a wide range of custom barrier properties *AegisPaper 95/5 food is certified as fully recyclable and has the best mechanical properties for food applications *AegisPaper reduce provides the thinnest functional barrier paper to reduce amount of packaging material needed
With all major categories posting double-digit gains, unit sales of print book rose 19.5% in the week ended Jan. 30, 2021, over the comparable week in 2020, at outlets that report to NPD BookScan. Unit sales of YA fiction soared by 50.6% over the week ended Feb. 1, 2020, and YA nonfiction sales rose 41.2%. In both cases it was strong across-the-board sales rather than one or two big bestsellers that drove the gains. In YA fiction, We Were Liars by E. Lockhart remained the top title, selling more than 11,000 copies. Brigid Kemmerer’s A Vow So Bold and Deadly was the bestselling new title, selling more than 7,000 copies. YA nonfiction sales were led by Stamped by Jason Reynolds and Ibram X. Kendi, which sold more than 3,400 copies. Juvenile fiction unit sales rose 32.5% and nonfiction increased 24% over a year ago. Alice Schertle’s Little Blue Truck’s Valentine stayed in the fiction top spot, selling just over 25,000 copies.
Paper Excellence has recently invested more than $600,000 in engineering and consulting work focused on restarting the Prince Albert pulp mill. Paper Excellence originally purchased the Prince Albert pulp mill in 2011. It now plans to restart the facility as soon as possible once the current non-compete agreement with the former owner expires in March 2021. “We plan to replace the entire fibre line from the digester to the last bleaching stage. This will replace the heart of the mill and let us take full advantage of the existing recovery boiler which is one of the most modern in Canada,” explains Carlo Dal Monte, Vice President, Energy & Business Development. “While this is an expensive strategy, it will simplify construction and minimize commissioning risks. Once we are up and running, we will also realize a significant improvement in product quality, operating costs and environmental performance compared to the mill that was shut down in 2006.”
Twin Rivers Paper Company continues to invest in its PFAS-free oil and grease resistant (OGR) food packaging brand, EcoBarrier®. This expanded grade includes EcoBarrier Plus, a top-of-the-line paper engineered for heavy grease applications, and EcoBarrier Choice, a fit-for-use substrate designed with lighter grease resistant properties. The line extension meets the foodservice and food processing markets’ demand for fluorochemical-free (FC-free) paper options. “The launch of EcoBarrier Plus and EcoBarrier Choice reflects Twin Rivers’ commitment to accelerating the availability of PFAS-free papers and providing options for packaging converters and brand owners,” said Rachel Van Wychen, Director of Packaging. “Being one of the first to commercialize an FC-free paper eight years ago gives us a distinct advantage and market leadership position. We’ve worked side-by-side with some of the largest fast-food, quick-serve, and fast-casual restaurants over the years to perfect our formulation and converting performance.”
Full Year 2020 Highlights: *Revenue was $217.9 million lower than the previous year. COVID-19 negatively impacted the company's results, primarily across the Promotional Solutions, Cloud Solutions and Checks segments. *The Payments segment formed at the beginning of the year delivered revenue growth of 12% over the previous year. COVID-19-related delays in customer implementations impacted the growth rate in this segment, which will likely continue into Q1 2021. *Net income of $8.8 million was impacted by COVID-19 and continued costs in support of the company’s transformation. *Cash flow from operations for 2020 was $217.6 million and capital expenditures were $62.6 million. Free cash flow, defined as cash provided by operating activities less capital expenditures, was $155.0 million, a decrease of $65.1 million as compared to 2019. *Net debt of $716.9 million was the lowest since June 30, 2018. *During the fourth quarter, the company repaid $200 million on its revolving credit facility under which it borrowed at the onset of the COVID-19 pandemic.
In support of the important work underway to advocate for the advancement of diverse talent in the creative industry, Quad is contributing $25,000 to a scholarship program at the Brandcenter at Virginia Commonwealth University (VCU), a two-year full-time master’s program dedicated to developing the next generation of creative talent. The Brandcenter at VCU is among the preeminent advertising and design programs in the country, and Quad’s donation will directly support the Brandcenter & Rising Endowed Scholarship, which provides need-based assistance to diverse students looking to make an impact in the fields of advertising, marketing, branding and communications.
As lockdowns drag on and consumers spend more time at home, publishers are continuing to lean in to direct mail to engage their audience … and they are finding creative new ways to make it happen. “Publishers know Americans are going to be hunkered down at home for another few months of coronavirus-created isolation,” writes Max Willens in Digiday, “so some of them are hoping to drive more revenue by going right through readers’ front doors.” Those doors are especially attractive to direct-to-consumer (DTC) brands, and many are helping their DTC advertisers create direct mail campaigns. “Over the past few months, The Los Angeles Times has been pitching direct mail and custom publishing campaigns to media agencies focused on DTC brands,” Willens writes.
In any industry or profession, without new birth, products, ideas, or people, there is no growth. If you’re not growing, if you’re not introducing new blood to the mix of what you have, you’re dying incrementally. And the lifecycle and growth of magazines aren’t any different than any other lifecycle. Yes, magazines come and magazines go, but just because one magazine folds it doesn’t mean the entire print medium is dying. And while in the last 20 years the number of consumer magazines in this country aimed at the general public has remained steady, averaging at around 7,000 titles, it should be noted that in those same 20 years we had at least 4,730 new magazines coming into the marketplace. And the reason I say at least, is because those were the ones that I was actually able to buy and collect ink on papers copies from. My definition was and is still is, “if it is not ink on paper, it is not a magazine.” much more at source: https://mrmagazine.wordpress.com/2021/02/04/publishing-is-believing-and-i-do-believe-a-mr-magazine-musing/
First Quarter Highlights (all comparisons made to the December 2019 quarter) *Net sales of $3.1 billion; 7 percent organic volume growth *Operating income up 53 percent to $304 million *Operating EBITDA up 20 percent to $539 million *Increased fiscal 2021 organic volume growth assumption by 2 percent, now targeting 4 percent. Berry’s Chairman and CEO Tom Salmon said, “Berry’s fiscal 2021 is off to an exceptional start with record first quarter financial results exceeding our expectations. Consumer demand for our products remains consistent and certain markets which previously experienced COVID-19 headwinds are rebounding quicker than we expected.
Preliminary Fourth Quarter 2020 Results: Fourth quarter 2020 total revenue declined approximately 10%, including a comparable sales decrease of 11%. Based on this, the Company expects fourth quarter 2020 diluted earnings per share to be in the range of $1.00 to $1.05, before considering any impact from tax planning strategies. These preliminary results reflect a better than expected gross margin rate and strong SG&A expense management. Gross margin continued to benefit from disciplined inventory management and further optimization in promotional strategies. SG&A expense decline was driven primarily by reductions in store, marketing, and technology expenses.
Fiscal 2021 Second Quarter Key Financial Highlights *Revenues were $2.41 billion, a 3% decline compared to $2.48 billion in the prior year – Adjusted Revenues increased 2% compared to the prior year *Net income of $261 million compared to $103 million in the prior year *Total Segment EBITDA was $497 million compared to $355 million in the prior year *Book Publishing Segment EBITDA increased 65% compared to the prior year, driven by strong revenue growth across every category *Dow Jones reported 43% Segment EBITDA growth, driven by record digital advertising revenues and continued growth in digital subscriptions
Unit sales of print book rose 19.5% in the week ended January 30, 2021, over the comparable week in 2020 at outlets that report to NPD BookScan. The increase marks the third consecutive week unit sales increased by at least 19% compared to 2020. For the month of January, print unit sales were 21.3% higher than January 2020. As has been the case for most of January, sales were up by double digits in all major categories. The four children’s publishing segments saw the largest gains. Unit sales of young adult fiction increased by 50.6% over a year ago, and young adult nonfiction sales rose 41.2%. In YA fiction, sales of supernatural/horror rose by 113% over the week ended February 1, 2020.
Expanding its most popular, industry-leading pressure-sensitive adhesive offerings, Mactac® Roll Label Performance Adhesives Group announces new additions to its CHILL AT® and PUREapply® adhesive portfolios. “Brand managers and packaging engineers consistently turn to CHILL AT and PUREapply for high-tack secure label adhesion, long-lasting shelf appeal and brand protection,” says Kim Hensley, Senior Marketing Manager, Mactac Performance Adhesives. “For customers who want to boost their business in 2021 – these products are the game-changers.” The CHILL AT and PUREapply expansion includes a selection of thinner facestock and liner solutions, which not only add more options for the sought-after adhesive offerings, but also deliver customers more labels per roll, increased production, and ensure less label waste.
• Interfor generated $205.0 million of cash flow from operations before changes in working capital, or $3.07 per share, and an additional $24.9 million of cash from reduced working capital. • Capital spending was $36.0 million, including $21.7 million on high-return discretionary projects primarily in the U.S. South. US$96.1 million has been spent on the Company’s Phase II strategic capital plan through December 31, 2020. • Net debt ended the quarter at $(75.4) million, or (7.5)% of invested capital, resulting in available liquidity of $787.5 million.
Paper Excellence announced that the ICC (International Chamber of Commerce) arbitration court has ruled in favor of Paper Excellence thereby enabling Paper Excellence to proceed with the full acquisition of the Brazilian-based pulp producer Eldorado Brasil Celulose. The acquisition will be completed under the terms of the agreement between Paper Excellence and J&F Investimentos that was entered into in 2017. Paper Excellence presently owns 49.41% of Eldorado. With the completion of this acquisition, Paper Excellence will strategically enhance its international presence in the pulp and paper markets in the Americas and its ability to serve customers across the globe. Eldorado, with headquarters in Três Lagoas, in Mato Grosso do Sul, is one of the world’s largest pulp producers.
The American Forest & Paper Association (AF&PA) President and CEO Heidi Brock issued the following statement regarding preliminary rulings of circumvention inquires, involving imports of uncoated paper sheeter rolls from Indonesia, Brazil and Australia on existing antidumping duty (AD) and countervailing duty (CVD) orders. “AF&PA supports the enforcement of free and fair trade laws through an impartial and transparent process. The preliminary affirmative rulings – Indonesia and Brazil – ensure that paper imports are traded fairly in the U.S. market. AF&PA believes U.S. government enforcement of domestic and international trade rules safeguard the health of our industry, allowing markets to function properly.”
Solenis has achieved the Gold Recognition Level for Corporate Social Responsibility (CSR) performance by EcoVadis, a collaborative platform providing sustainability ratings and performance improvement tools for global supply chains. This is the second year in a row in which the company attained Gold Status. “We are extremely proud that Solenis has once again earned this status,” said Dr. Daniel Grell, senior vice president, Environmental, Health and Safety; Product Regulatory and Quality at Solenis. “We’ve transferred our internal emphasis on people, performance and continuous improvement to the area of sustainability. As a result, we improved our overall score from last year by nearly 10 percent.”
* Excluding items affecting comparability 2019.-Operating profit for 2020 was SEK 2 479 million (2019: SEK 2 345 million excluding items affecting comparability of SEK 8 770 million). Lower production costs in Paperboard and higher wood product prices had a positive impact on earnings, though this effect was offset by price decreases and production curtailments in Paper. -Compared with the third quarter, operating profit decreased by SEK 119 million to SEK 595 million as a result of a maintenance shutdown in Paperboard. -Profit after tax in 2020 was SEK 1 979 million (8 731), which corresponds to earnings per share of SEK 12.2 (52.6). Profit after tax for the previous year was impacted by items affecting comparability of SEK 6 943 million.
Extending the use of UPM BioVerno naphtha as a raw material in new applications such as clothing and sports equipment is an example of the collaboration needed to take us towards a future beyond fossils. Ultra-High Molecular Weight Polyethylene (UHMWPE), known under the Dyneema brand as the world’s strongest fibre, is a material used in a variety of applications such as sports equipment, protective clothing, and offshore marine or air cargo netting. Committed to increasing the share of bio-based raw materials in the production of Dyneema, Royal DSM, a global science-based company in Nutrition, Health and Sustainable Living, teamed up with UPM Biofuels and global diversified chemicals company, SABIC, to improve the environmental impact of its materials. click read more below for details
WestRock is undertaking extensive efforts to identify, contain and recover from this incident quickly and securely. Upon discovering the incident, WestRock immediately began an investigation, implemented business continuity processes and initiated response containment protocols with the support of cybersecurity experts. These actions included proactively shutting down certain systems in an abundance of caution, as well as taking steps to supplement existing security monitoring, scanning and protective measures. The Company also implemented measures, including manual processes, to respond to customers’ needs. The Company is now systematically bringing its information systems back online in a controlled, phased approach. “We remain relentlessly focused on remediating this incident while continuing to safely operate our mills and converting plants,” said Steve Voorhees, chief executive officer. “I am proud of the focus and determination of the WestRock team as we manage through this incident and deliver essential products for our customers.” All of WestRock’s mills and converting locations are producing and shipping paper and packaging. The Company’s mill system production through February 4 was approximately 85,000 tons lower than plan, and the packaging converting operations are close to returning to full planned production levels.
National Average Price for Regular Unleaded Current: $2.456; Month Ago: $2.261; Year Ago: $2.458. National Average Price for Diesel Current: $2.677; Month Ago: $2.569; Year Ago: $2.930
American Dollar to Canadian Dollar = 0.780813; American Dollar to Chinese Yuan = 0.154582; American Dollar to Euro = 1.200000; American Dollar to Japanese Yen = 0.009471; American Dollar to Mexican Peso = 0.049405.
Fiscal 2021 second quarter revenues grew 11 percent to a record $902 million from the prior-year period. Highlights from the second quarter of fiscal 2021 included: A 22 percent increase in National Media Group digital advertising revenues from the prior-year period. Sessions to Meredith's owned and operated and network sites grew 16 percent from the prior-year period, led by the PEOPLE, Allrecipes, Martha Stewart Living, and InStyle brands. A 96 percent increase in Local Media Group political spot and digital advertising from the prior election cycle two years ago. Performance was led by the Phoenix and Atlanta markets, which combined accounted for approximately 60 percent of total political advertising revenues. A 34 percent increase in National Media Group digital consumer/licensing revenues from the prior-year period. Performance was driven by Apple News+, strong sales of Better Homes & Gardens-branded products at Walmart stores across the United States and at Walmart.com, and ecommerce via other retail partners. Continued sequential year-over-year improvement in Meredith's magazine and non-political television advertising platforms. Both comparable National Media Group magazine advertising and Local Media Group non-political advertising revenues declined in the mid-teens from the prior-year period. As a result of this performance, fiscal 2021 second quarter earnings from continuing operations more than doubled to $149 million from the prior-year period. Adjusted EBITDA grew 57 percent to $304 million.
• Q4 GAAP net loss of $52 million / net income of $10 million for 2020 • Adjusted EBITDA of $129 million in the quarter / $338 million for the full year • Net debt down by $93 million to $448 million / year-end liquidity at $693 million • Repurchased 2.1 million shares in Q4 / 6.9 million (8%) in 2020 • Completed private offering of $300 million 4.875% senior unsecured notes
Full-year and fourth quarter highlights: •Full-year and fourth quarter net earnings (loss) attributable to International Paper of $482 million and $153 million, respectively, compared with $1.2 billion for full-year 2019, $204 million in the third quarter of 2020 and $165 million in the fourth quarter of 2019 •Fourth quarter cash provided by operations of $789 million, bringing full-year 2020 to $3.1 billion compared with $3.6 billion for full-year 2019. Full-year 2020 free cash flow (non-GAAP) of $2.3 billion, compared with $2.3 billion for the full-year 2019 •Fourth quarter debt reduction of $611 million, bringing full-year 2020 to $1.7 billion
Costco Wholesale Corporation reported net sales of $13.64 billion for the retail month of January, the four weeks ended January 31, 2021, an increase of 17.9 percent from $11.57 billion last year. For the twenty-two weeks ended January 31, 2021, the Company reported net sales of $79.11 billion, an increase of 15.4 percent from $68.56 billion during the similar period last year.
Total revenues for the fourth quarter of 2020 increased 0.2 percent to $509.4 million from $508.4 million in the fourth quarter of 2019. Subscription revenues increased 14.7 percent to $315.8 million, advertising revenues decreased 18.7 percent to $139.3 million and other revenues decreased 12.1 percent to $54.3 million. Total operating costs decreased 0.4 percent in the fourth quarter of 2020 to $428.8 million compared with $430.4 million in the fourth quarter of 2019, while adjusted operating costs decreased 0.1 percent to $411.7 million from $412.0 million in the fourth quarter of 2019, in each case as a result of the factors discussed below.
2020 Financial Highlights •Delivered sales of $11.8 billion, up 2.7%, and up 3.5% on an organic, daily, constant currency basis compared to the prior year (excluding divestitures and foreign exchange) •Generated reported operating earnings of $1.0 billion; adjusted operating earnings of $1.3 billion •Achieved $1.1 billion of operating cash flow and returned over $0.9 billion to shareholders through dividends and share repurchases. Fourth Quarter Financial Highlights •Delivered sales of $2.9 billion, up 3.3%, and up 5.6% on an organic, daily, constant currency basis compared to the fourth quarter 2019 (excluding divestitures and foreign exchange) •Generated reported operating earnings of $275 million; adjusted operating earnings of $295 million •Achieved reported operating margin of 9.4%, up 300 basis points; adjusted operating margin of 10.0%, down 75 basis points
Berry Global Group, Inc. announced its investment of over $70 million in its United States wipe substrate capabilities. The investment includes a new line, producing additional capacity, and enabling the Company to better serve its global customers as well as support the continuing growth of its business. Berry provides many of the world’s leading brands with wipe materials for infection prevention. Prior to the demand surge of 2020, the impregnated wet wipes segment, specific for home cleaning and disinfecting, was growing at six percent in the 2014 to 2019 time frame. Amplified by COVID-19 prevention, the demand for disinfectant wipes is expected to have permanently shifted to its current, increased use. Berry will add to its broad scope and scale by installing the line in the United States. This investment is complementary to Berry’s existing portfolio and features the Company’s proprietary Spinlace® technology. The U.S. investment has a targeted commercialization date of the March quarter 2023.
Sonoco today announced it will raise the price for all paperboard tubes and cores by a minimum of 6 percent, effective with shipments in the United States and Canada, on or after March 1, 2021. “This price increase is necessary due to continued increases in costs for uncoated recycled paperboard (URB), our primary raw material. URB demand remains very strong, and the supply in the marketplace is extremely tight,” said Mike Thompson, Director of Sales and Marketing for Sonoco’s North America Tubes and Cores Division.
SCA has decided to discontinue publication paper production and during the first quarter of 2021 all three paper machines on the site will be closed. LWC1 produced coated publication paper for magazines and commercial print. It started production in 1990 and had a capacity of 250 000 tonnes of publication paper per annumn. SCA has decided to invest SEK 1.45 bn in the production of chemically pretreated thermomechanical pulp on the Ortviken industry site.
Smurfit Kappa’s planned expansion and modernisation of its paper sacks business in the Latin American market continues at pace. Smurfit Kappa is investing USD $40 million in response to growing market trends and the increasing need for environmentally sustainable paper sacks. In Colombia, a new Windmoller & Holscher paper sacks machine at its plant in Palmira is now fully operational. This, representing a USD $9.5 million investment, which was announced in February 2020, has increased the plant’s production capacity by an additional 100 million multi-ply paper sacks per year, as well as improving the print quality and performance of the sacks. This new line complements the investment made by the Company in 2018, when it expanded its paper sacks plant in the Dominican Republic with an investment of USD $10 million. Improved capability will continue in the second quarter of 2021 with an investment of USD $1 million for the modernisation of Smurfit Kappa´s paper sacks plant in San Jose, Costa Rica.
Smurfit Kappa has announced ambitious new sustainability targets in a number of different areas. The new targets focus on a further reduction of its environmental footprint, increased support for the communities in which it operates and further enhancement to the lives of its employees. These targets build upon the company’s well-established sustainability record, on which it has been reporting since 2005, and are contained in the Better Planet 2050 commitments. Better Planet 2050 quantifies Smurfit Kappa’s continued commitment to sustainability, targeting environmental and social sustainability in areas where it believes it can have the greatest impact. These include delivering sustainable packaging to customers, reducing its environmental footprint in water usage, waste and carbon emissions and supporting its communities, promoting inclusion and diversity as well as health and safety. The targets identified are specific, measurable and provide a roadmap to deliver results in the short, medium and longer timeframes.
Norske Skog’s EBITDA in the fourth quarter of 2020 was NOK 146 million, an increase from NOK 73 million in the third quarter of 2020, as a result of increased sales volume and favourable cost development. Despite improvements in the fourth quarter, the markets have not returned to pre-COVID-19 levels. Cash flow from operations was NOK 73 million in the quarter compared to NOK 115 million in the previous quarter, mainly due to a reduction of inventory and accrued CO2-compensation to be paid in 2021. Operating earnings in the fourth quarter of 2020 were NOK -1 276 million compared to operating earnings of NOK -31 million in the third quarter of 2020.
HP Inc. has introduced a range of new Latex large format print solutions to help print service providers diversify their offerings and meet more challenging customer needs. After a year of business disruption across the large format industry, the HP Latex 700 and 800 series brings a suite of features that enable PSPs to be more agile, tackle ambitious projects and take on the highest value work. The new portfolio also delivers fast workflows that help businesses hit deadlines, while sharpening their sustainability edge. “When you think about HP Latex, imagine the unique ability to say yes to every customer request, regardless of fast-changing schedule or application demands. Help meet deadlines with undisputable operator and environmental safety, as, with HP Latex, every signage & decor decision becomes a sustainable one,” said Guayente Sanmartin, General Manager, Large Format Business, HP. “The new Latex 700 and 800 portfolio will allow PSPs to win big by navigating customer challenges in the next normal and embracing more ambitious projects - safe in the knowledge their work will deliver.”
Fourth Quarter 2020 Results: Net sales were $1.99 billion, up 12.3%. The extra week in 2020 increased sales 4.9%. Sales were up 5.2% ex. currency, and up 3.2% on an organic basis. Reported operating margin increased 350 basis points to 13.7%. Adjusted EBITDA margin increased 180 basis points to 16.3%, while adjusted operating margin increased 160 basis points to 13.5%. Reported net income was $2.28 per share, up 19% and adjusted net income was $2.27 per share, up 31%, both of which were above the company’s expectations. Year-to-date free cash flow was $548 million, up 6.9% compared to last year.
R.R. Donnelley & Sons Company announced it will expand its North American production capabilities to support the trading card and collectible card game industry. Known for exceptional quality and service, Reynosa’s 300,000-square-foot manufacturing space houses 10 sheetfed presses, featuring both UV and conventional printing, and complete finishing capabilities. Investments in the pressroom and specialty finishing capabilities will enable this site to produce cards and their associated packaging by mid-spring of 2021. Additionally, RRD will be installing a 12-color UV press to their Packaging Solutions facility in Durham, North Carolina. RRD’s Durham operation has served top brands and emerging card publishers for over 30 years and is one of the largest producers of trading cards in North America. This will be the second press of its kind at the facility, signaling RRD’s ongoing commitment to support increases in client demand and ability to deliver high-quality products required by both card collectors and game players alike.
Gannett Co., Inc. announced that Gannett Holdings, LLC, a wholly owned subsidiary of the Company, has priced a $1.045 billion term loan, which will be used to refinance the 11.5% term loan entered into for the acquisition of Gannett Media Corp. The Term Loan B priced at L+700, with a 0.75% LIBOR floor and maturity of February 2026, callable at any time. The new Term Loan B is expected to close early next week and is subject to execution of definitive documentation. “We are pleased to announce the refinancing of our 11.5% term loan with a widely syndicated L+700 Term Loan B, which meaningfully improves the Company’s balance sheet and overall capital structure,” said Michael Reed, Chairman and Chief Executive Officer of Gannett.
Net sales increased 38% to $386.1 billion, compared with $280.5 billion in 2019. Excluding the $1.4 billion favorable impact from year-over-year changes in foreign exchange rates throughout the year, net sales increased 37% compared with 2019. Operating income increased to $22.9 billion, compared with operating income of $14.5 billion in 2019. Net income increased to $21.3 billion, or $41.83 per diluted share, compared with net income of $11.6 billion, or $23.01 per diluted share, in 2019.
Fourteen weekly newspapers in New Jersey will convert to nonprofit status, thanks to a deal between the Corporation for New Jersey Local Media (CNJLM) and current owner, New Jersey Hills Media Group. CNJLM has signed a letter of intent to convert the titles, some of which are 100 years old. Hills Media weighed several offers, but chose to go with “a nonprofit organization dedicated to preserving and expanding the local news coverage we provide — in print, on the web and on social media,” states Liz Parker, co-publisher and executive editor.
Stakeholders from around the world are invited to give feedback on the regional forest certification system for the Congo Basin. Deadline for comments is 1 April. Give your feedback now! Our national members for Cameroon, Congo and Gabon joined forces under the name of PAFC Congo Basin to develop this regional certification system – the first regional system submitted to PEFC for endorsement. The system is now undergoing the PEFC assessment process, carried out by an independent PEFC Registered Assessor. It must pass this process and be approved by the PEFC General Assembly before it can achieve endorsement.
Highlights - Six Months Ended December 31, 2020: • GAAP Net Income of $417 million, up 65%; GAAP earnings per share (EPS) of 26.5 cents per share, up 71%; • $35 million Bemis cost synergies in H1; expect approximately $70 million (previously $50-$70 million) in FY21; • A further $200 million of share repurchases approved bringing the total announced in fiscal 2021 to $350 million; • Quarterly dividend higher than last year at 11.75 cents per share; and • Fiscal 2021 outlook for adjusted EPS growth raised to 10-14% in constant currency terms (previously 7-12%).
Solenis, a leading global producer of specialty chemicals, will increase prices by 3 to 15 percent on a range of polymer-based chemistries, effective immediately or as customer contracts allow. These price increases are necessary due to inflation and availability of raw materials and elevated freight and energy costs. “We are unable to absorb the impact of the increased costs that we are currently experiencing but we will continue to work in partnership with our customers to help mitigate the increases,” said Cory Ross, director, North America marketing and product management. “Solenis remains committed to controlling costs through process improvements to deliver high-value, innovative solutions that our customers have come to expect.”
Financial summary for the quarter: *EBITDA excluding special items US$98 million (Q1 FY20 US$139 million) *Net debt US$2,056 million (Q1 FY20 US$1,916 million) *Loss for the period US$17 million (Q1 FY20 Profit of US$24 million) *EPS excluding special items -1 US cent (Q1 FY20 6 US cents)
As soon as Bike hit the brakes, Pocket Outdoor Media CEO Robin Thurston decided he wouldn’t wait around to see if it would resume operations. Instead, he saw a chance to fill that magazine’s void in the marketplace with a new title in POM’s portfolio, so he invited the editorial staff of the now-idle publication to join his company and reimagine what a mountain biking magazine could—and should—be. The result is Beta, a multichannel content platform launched Tuesday, which includes a new quarterly magazine, website, and membership program called Beta Pass (part of Pocket's larger Active Pass platform). Its first print edition is due out in late March, just as the snow begins melting and riders return to dirt singletrack across much of the country.
If you’re a commercial mailer of flats and periodicals, brace yourself. Customers are facing an unexpected and steep increase in USPS mailing rates sometime this summer — even while service standards remain miserably low. The first indication that something was seriously wrong with operations at the USPS came last July, when newly appointed PG Louis DeJoy changed trucking regulations. On-time mail deliveries plummeted. It was so bad that a Washington DC District Court judge ruled they must reverse the changes in October and file daily paperwork with their progress. Now, the Postal Regulatory Commission (PRC) tells us to expect an additional rate increase this summer of anywhere between 5.5% for first-class and up to 7.5% for marketing flats and periodicals. (That’s on top of recent rate changes that went into effect last month.) More at source: https://freeportpress.com/serious-questions-around-the-usps-and-rates/
With huge pressures on the economy, banks, telecom providers, utility companies and even governmental organizations are increasingly focused on switching their customers from paper to digital services to cut costs. All too often their customer communications attempt to mask these cost-saving efforts, justifying the switch with unfounded environmental marketing appeals such as “Go Green – Go Paperless” and “Choose e-billing and help save a tree.” “Not only are these greenwash claims in breach of established environmental marketing rules, but they are hugely damaging to an industry which has a solid and continually improving environmental record,” says Two Sides North America (TSNA) President Phil Riebel. “Far from ‘saving trees,’ a healthy market for forest products such as paper encourages the long-term growth of forests through sustainable forest management. Many of the organizations we engage are surprised to learn that over the last 30 years, U.S. forests have grown by some 18 million acres while net forest area in Canada has remained about the same.” Click read more for the rest of the story
2020 Highlights: *Vision 2025 goals on track following execution of strategic investments, development of new, sustainable fiber-based packaging solutions and the successful pivot to net organic sales growth. *Net Sales were $6,560 million versus $6,160 million in the prior year. *Net Organic Sales increased 5% in the fourth quarter and 4% for the full year 2020 versus the prior year periods. *Net Income was $167 million versus $207 million in the prior year.
Worzalla, an employee-owned book printer specializing in printing high-quality children’s books, cookbooks, and hard-cover best sellers, has launched the “Reel It In For Reading” ice fishing competition in support of the Portage County Literacy Council (PCLC). The competition invites the community to submit photos of their largest ice fishing catches during the month of February. Worzalla has committed to donate $5 per entry, up to $1,500 to the Portage County Literacy Council and will award cash prizes to the entries with the largest catches. To honor the first-place winner, Worzalla will donate $500 to the school or community library of the winner’s choice. “Ice fishing is such a popular winter activity in our community that we decided to organize a friendly competition to support literacy in our greater community,” said Brianne Petruzalek, Vice President of Human Resources at Worzalla. “The Portage County Literacy Council does such important work throughout the year to help adults achieve their literacy goals, a mission that is close to our hearts at Worzalla.”
UPS announced fourth-quarter 2020 consolidated revenue of $24.9 billion, a 21.0% increase over the fourth quarter of 2019. Consolidated average daily volume increased 10.6% year over year. Operating profit was $2.2 billion, up 1.6% compared to last year’s fourth quarter, or 26.0% on an adjusted basis. Net loss was $3.3 billion for the quarter; adjusted net income was $2.3 billion or 26.4% above the same period last year. In the fourth quarter, diluted loss per share was $3.75, compared to a diluted loss per share of $0.12 in the fourth quarter of 2019.
Combined print book and e-book sales hit 942 million units in 2020 at outlets that report to NPD BookScan, a 9% increase over 2019 and the most unit sales recorded in a single year by BookScan since the service was created in 2004. In a webinar held last week, Kristen McLean, executive director of NPD Books, said the gain was due to a combination of strong sales of both print and digital books. Print sales rose 8.2% over 2019, the largest annual increase since 2005, and the print total of 751 million units sold was the highest since 2009, the year before e-books started to become a meaningful part of the book business. E-book unit sales, as measured by NPD’s PubTrack Digital service, rose 12.6% over 2019 and were at their highest level since 2015, when 208 million units were sold (e-book sales figures for November and December are projections).
Xerox Holdings Corporation announced organizational changes to support plans to create three new businesses – Software, Financing and Innovation – aimed at delivering long-term growth in 2021 and beyond. Nicole Torraco has been promoted to senior vice president, Xerox Financial Services (XFS), to lead Xerox’s financing business, reporting directly to Visentin. Sam Waicberg will lead the Software business as vice president and general manager of Digital Services, reporting to President and Chief Operations Officer Steve Bandrowczak. Naresh Shanker, senior vice president and chief technology officer, will lead the PARC Innovation business. Executive Vice President Louie Pastor has been appointed chief corporate development officer and chief legal officer.
Mondi introduces its latest e-commerce innovation. The BCoolBox is a 100% recyclable and reliable packaging solution to keep perishable food cool while in transit. With this product innovation, food stays fresh from the store to the consumer or a pick-up station and offers online retailers the opportunity to expand their geographical reach for deliveries. Benefits of BCoolBox: *Corrugated packaging solution with thermo-insulation keeps food chilled below*7° celsius for up to 24 hours without using a cooling truck*Inner corrugated panels enclose the shipment from all sides, providing enhanced insulation*Ability to use different cooling agents*Made entirely from recycled material and 100% recyclable.
After many years of collaboration and joint efforts to promote sustainable forest management, UPM-Kymmene has been accepted as PEFC’s international stakeholder member. PEFC (The Programme for the Endorsement of Forest Certification) is an international organisation with the main focus of endorsing national forest certification systems to ensure the verifiable, sustainable use of forests. “We were delighted to welcome so many of our members from all around the world, virtually. While we couldn’t meet in person, the virtual meeting enabled more employees of our members to join the session and experience a PEFC General Assembly first-hand”, says Ben Gunneberg, the CEO and Secretary General of PEFC. Alongside UPM joining as an international stakeholder member, Turkey and Bosnia and Herzegovina were welcomed as new national members. PEFC now totals 55 national members across six continents and 31 international stakeholder members.
Sonoco announced it is implementing a $50 per ton price increase for all grades of uncoated recycled paperboard (URB) in the United States and Canada, effective with shipments beginning March 1, 2021. Sonoco cited the continuation of extended order backlogs at its mills along with continuing inflation of input costs, especially freight, as the drivers for this pricing action.
SCA’s investments in Östrand pulp mill, in addition to the ongoing investments in pulp production at the Ortviken industrial site, will more than double the volume of pulp to be shipped from the Sundsvall region. The increased volumes mean that the pulp will be delivered to new and more distant markets. Tunadal and Bollsta sawmills are also ramping up their production volumes. Containers are being increasingly used to transport pulp and solid-wood products. Over the past five years, the volume of containerized trade from Tunadal port has more than doubled. “This development has meant that we need to be able to handle larger volumes of containerized cargo than previously and be able to accommodate larger ships – both container ships and break bulk vessels,” says Magnus Svensson, President Sourcing and Logistics at SCA.
Smurfit Kappa has launched a new range of eBottle packaging solutions for the rapidly growing online beverage and liquids market. The new portfolio includes a variety of sustainable solutions for single and multi-pack products, including the Rollor bottle pack, BiPack, and Pop-up insert. The surge in e-commerce due to the Covid-19 pandemic is evident across all sectors and the beverage market has also seen a significant impact. In particular, online sales for alcoholic beverages has increased by 34% in Europe driving a demand for sustainable, durable and consumer friendly packaging that protects the product during shipment. Key challenges for the beverage e-commerce channel are product damage, sustainability, consumer experience and the ability to accelerate growth using the right packing processes. Consumer research carried out by Smurfit Kappa also shows consumers are continuing to push for higher standards.
PRINTING United Alliance and Idealliance announced the intent to merge the two organizations earlier in January. The proposed merger was approved unanimously by each Board of Directors to be followed by consideration of Idealliance members at a meeting of active members on 1/29/21, in accordance with Idealliance Bylaws. Idealliance Members overwhelmingly approved the Plan of Merger with 96% voting in favor which serves as the final step to effectuate the merger. Dick Ryan, Idealliance CEO said, “The traditional segmentation of print providers has continued to blur and converge, which the shifts in digital printing technologies have accelerated. Over the past few years, PRINTING United Alliance has built an association that addresses all the major segments through expanded membership, an array of events, and industry leading media brands, bringing considerable resources, marketing reach and audiences under one roof. At the same time, Idealliance has developed the expertise to build and rollout not only its traditional color management programs, but new standards training and education on a global platform. This is the right strategic move by Idealliance to better serve the graphic communication industry.”
Georgia-Pacific announced the expansion of its Hummingbird® digital print solutions with the purchase of an HP PageWide T1190 Press, the world’s highest-volume digital corrugated packaging solution. The HP T1190 will be GP’s third inkjet web press installed since 2015 when it launched digital print services with the HP T400S press and subsequently deployed a T1100 110-inch press. GP’s Hummingbird provides a range of digitally printed corrugated packaging solutions for consumer-packaged goods, electronics, and food and beverage brands across North America. Digital print allows for regional or product variations without minimum quantities, variable print, and faster turn on print since print plates are not needed. Digital allows a customer to print only what they need, when they need it – which reduces waste. The press also uses water-based inks, which HP notes does not contain hazardous air pollutants and is also odorless. Hummingbird’s digital offerings include corrugated shelf-ready packaging (SRP), food trays, large-format boxes, e-commerce solutions, and volume displays (POP).
UPM has established a Green Finance Framework as part of its aim to create a future beyond fossils. This accelerates the company’s commitment to green values and ensures a high environmental standard across all operations. All things green have become an essential part of the worlds of investments and financing. Hence, every company must now walk the walk when it comes to sustainability. “A lot of companies can claim to be green and sustainable, but not all can put their money where their mouth is, and even fewer can do so in a project as impactful as the case of UPM,” says Jacob Michaelsen, Nordea’s Head of Sustainable Finance Advisory. Click read more below for more of the story.