The scarcity is real, and for most retailers – the occasional backorder went from a low-grade and fairly infrequent problem to major outages, much of the time, and backorders of 3-4 months are increasingly common. Customer reactions range from anger and frustration to panic that they won’t get what they need. Believe it or not, it’s possible to make the best of a bad situation. A brand’s response to trying situations: returns, backorders, and out-of-stocks, can make or break your customers’ perception. So what moves make sense? First, your customer has an immediate need. So when possible, sell what’s available today (SWAT). Something that can fill that is far superior to a perfect solution that’s available in 4-6 months. You need a reliable inventory system, and a knowledgeable staff that’s empowered and capable to direct customers to the right solution that’s available on hand, or smart website algorithms that can suggest an appropriate alternate product. But what if offering an alternative product is not possible? Then it becomes about managing expectations, communicating early and often, and empathizing with the customers’ likely frustrations. More at: https://www.brandunited.com/article/supply-chain-woes-communicating-customers/
Stora Enso is extending its packaging offering with a new portfolio of bio-based foams from wood. The products are fully recyclable and can be used for protective and thermal packaging. Lightweight wood foams address the need for climate-friendly, renewable and circular cushioning materials in inner packaging. Stora Enso’s offering consists of Fibrease™ by Stora Enso and Papira® by Stora Enso. Both foams come with versatile technical and sustainability properties, and customers can select a suitable foam based on their specific packaging requirements. The foams can be used for protecting fragile goods and are optimal for thermal packaging of temperature sensitive products. Fibrease is commercially available now, while the pilot plant for producing Papira has started operations at the Fors site in Sweden, following the investment announced in August 2020. Fossil-based packaging is a major contributor to pollution, accounting for 40% of the world’s plastics. With Fibrease and Papira, Stora Enso now introduces renewable and climate-friendly alternatives to fossil-based packaging protection. The bio-based foams come from certified wood and are recyclable in paper recycling streams.
The Paper Excellence Group announced the successful closing of its previously-announced acquisition of Domtar. The acquisition further establishes Paper Excellence Group as an industry leader, significantly broadening its global reach and expanding its product range to include airlaid nonwovens and containerboard, in addition to significantly increased pulp and paper production. Domtar will operate as a stand-alone business entity within the Paper Excellence Group, with Domtar’s current CEO and management team remaining in place. There are no further changes to operating locations, business plans, or Domtar’s employee base at this time.
Brands preparing for the end of the third-party cookie see one possible solution in email, judging by “Life after the third-party cookie,” a study by Lytics, done in conjunction with Sapio. Of the companies polled, 51% plan to spend more on email, and many see first-party data as critical to this effort. In general, 92% say first-party data is more important than ever. The most popular ways of using first-party data are to: *Create personalized content on websites — 56% *Predict customer behavior — 54% *Create more personalized emails — 48%. Almost half believe the end of third-party cookies will have a great impact on their marketing ROI. This includes 55% of financial-services marketers; 46% of beauty brands, 54% of media companies and 57%. of advertisers with budgets between $10 and $20 million.
Stakeholders from around the world are invited to give feedback on the revised Slovak Forest Certification Scheme. Deadline for comments is 27 January 2022. Give your feedback. PEFC Slovakia revised the country’s national forest certification system following the entry into force of the revised 2018 PEFC Sustainable Forest Management standard. The Slovakian system was submitted to PEFC after being revised in line with PEFC requirements. The national system is now undergoing the PEFC assessment process, carried out by an independent PEFC Registered Assessor. It must pass this assessment to maintain its PEFC endorsement.
Tredegar Corporation reported that its approximate 18% ownership interest in kaleo, Inc is expected to be sold pursuant to an agreement dated November 28, 2021, whereby Marathon Asset Management will be providing kaléo shareholders a full liquidity event opportunity. Closing of the Transaction, which is contingent upon the satisfaction of customary conditions, is anticipated to occur by December 31, 2021. Closing of the Transaction as of December 31, 2021, is projected to result in cash proceeds for Tredegar of $45.8 million.
Eco-Products® announced the addition of seven new items to its Vanguard™ lineup. Made from plant-based sugarcane fiber and certified as compostable, these two-piece compostable take-out containers are perfect for restaurants, supermarkets, convenience stores and snack bars seeking environmentally preferable options. Vanguard is an award-winning line that uses a proprietary chemistry to achieve grease resistance without the use of PFAS. Vanguard recently earned the coveted GreenScreen Certified™ Silver designation for avoiding the use of PFAS and other chemicals of high concern or known regrettable substitutes. Eco-Products is now expanding its Vanguard formulation to other products, including its popular WorldView™ line of to-go containers.
Heidelberger Druckmaschinen AG (Heidelberg) is redoubling its activities in sustainability management. Against the backdrop of the global challenges caused by climate change, and as part of its sustainability strategy, Heidelberg has made a commitment to become climate neutral by 2030. To help achieve this goal, the company has set up an Environmental Social Governance (ESG) panel, which is responsible for developing strategy and defining, implementing, and monitoring the associated measures. The panel is headed by Dr. Eva Boll, who reports directly to the CEO. “Heidelberg is well aware of its responsibilities regarding the dangers posed by global climate change and affirms the 1.5-degree target of the Paris Agreement,” says the company’s CEO, Rainer Hundsdörfer. “For many years, we have been actively working to gradually minimize harmful emissions and reduce the health and environmental impact of our sites. We have now made a further commitment to ensuring our worldwide production and distribution sites are operating on a climate-neutral basis by 2030, which is earlier than required by legislation.”
R.R. Donnelley & Sons Company announced that it has received a proposal from Chatham Asset Management, LLC to acquire all of the outstanding shares of RRD not already owned by Chatham for $10.25 per share in cash. The RRD Board of Directors, consistent with its fiduciary duties and in accordance with the terms of its definitive merger agreement with affiliates of Atlas Holdings LLC, dated as of November 3, 2021, will carefully review and consider the Revised Chatham Proposal to determine the course of action that it believes is in the best interests of the Company and RRD shareholders. RRD shareholders do not need to take any action at this time and the Board has not yet made any determination with respect to the Revised Chatham Proposal.
Third Quarter Highlights: On August 28, 2021 completed the acquisition of sawmill and newsprint assets from certain Canadian subsidiaries of Rayonier Advanced Materials Inc. in Ontario and Quebec. *The mills continue to operate as ‘business as usual’ as Management focuses on setting up its back-office functions in North Bay and Toronto. *Q3 results includes only 4 weeks of operating results for the newly acquired operations. *Q3 2021 reported a negative Adjusted EBITDA of $4,736 after adjusting for acquisition related expenses. *Q3 2021 net loss of $13,486 ($0.16 loss per share) includes the expensing of transaction costs. *Lumber markets have rebounded in September and October from the low prices in August.
UltraThinPE Tec™ is a new innovation from Stora Enso that significantly reduces the share of plastic coating in foodservice [board (FSB) and applications such as single-use paper cups. With the help of UltraThinPE Tec™, Stora Enso has developed the thinnest polymer coating for FSB products on the market. This achievement allows for paper cup designs with less than 5% plastic – an important step in helping packaging converters, brand-owners, and retailers meet their plastics reduction targets. The technology is presently used in the production of UltraThinPE coatings for Stora Enso’s Cupforma product range for paper cups. Paperboard material used for producing paper cups requires a barrier – commonly made from plastic – that offers both protection against liquid and functionality in converting. UltraThinPE Tec™ greatly improves the sustainability of paper cups by yielding the lowest plastic coating weight available on the market and reducing the overall carbon footprint of the finished product. UltraThinPE Tec™ reduces plastic coating weight by up to 40% when compared to Cupforma Natura products with 15 g/m2 PE (polyethylene) or renewable PE Green coatings (bio-based polyethylene), therefore enabling a share of greater than 95% paperboard. Achieving a plastic share of less than 5% helps brand-owners meet the composite threshold for packaging in some European countries. As a result, UltraThinPE Tec™ coatings can significantly reduce extended producer responsibility (EPR) fees by as much as 75% in countries such as Germany.
Before the era of online shopping, the department store Sears published its first holiday catalog in 1934. It started a tradition of kids circling pictures of toys they wanted from Santa and had adults bookmarking jewelry, appliances and more gift ideas. The nostalgic trend is being kept alive after Amazon began sending out its own toy catalogue in 2018 and is bringing it back this year. NBC’s Harry Smith reports in this week’s Sunday Spotlight. more at: https://www.today.com/video/holiday-store-catalogs-are-returning-reviving-a-classic-tradition-127345733612
R.R. Donnelley & Sons Company announced the expiration of the “go-shop” period set forth in the previously announced definitive merger agreement with affiliates of Atlas Holdings LLC, dated as of November 3, 2021, the receipt of an “Alternative Acquisition Proposal” as defined in the Atlas Merger Agreement and further developments with respect to a previously announced proposal from Chatham Asset Management, LLC. Under the terms of the Atlas Merger Agreement, affiliates of Atlas have agreed to acquire the Company for $8.52 per share in cash. As previously announced, RRD received an unsolicited proposal from Chatham on November 16, 2021 to acquire all of the outstanding shares of RRD not already owned by Chatham for $9.10 per share in cash, and thereafter the Company has been engaged in negotiations with Chatham regarding the terms and conditions of the Chatham Proposal. In addition, on November 27, 2021 and as part of its “go-shop” process, RRD received an Alternative Acquisition Proposal from a strategic party for $10.00 per share in cash, subject to other terms and conditions (the “Go-Shop Proposal”). On November 28, 2021, the Board of Directors of the Company determined, in good faith after consultation with its outside financial advisor and legal counsel, that each of the Chatham Proposal and Go-Shop Proposal would reasonably be expected to lead to a “Superior Proposal” (as defined in the Atlas Merger Agreement), thereby making each of Chatham and such strategic party an “Excluded Party” under the terms of the Atlas Merger Agreement. At this time, the Board has not determined that the Chatham Proposal or the Go-Shop Proposal constitutes a Superior Proposal, and there can be no assurances that a transaction will result from either proposal or that any alternative transaction will be entered into or consummated.
As the busiest mailing and shipping season begins, the United States Postal Service reported new service delivery performance metrics showing strong service performance for First-Class Mail (91.4 percent) and Marketing Mail (92.4 percent). Service performance for Periodicals continued to trend above 82 percent for the first seven weeks of the fiscal first quarter. First quarter-to-date service performance scores covering the period Oct. 1 through Nov. 19 included: *First-Class Mail: 91.4 percent of First-Class Mail delivered on time against the USPS service standard, an improvement of 2.6 percentage points from the fourth quarter. *Marketing Mail: 92.4 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fourth quarter. *Periodicals: 83.2 percent of Periodicals delivered on time against the USPS service standard, an improvement of .5 percentage points from the fourth quarter.
The Smurfit Kappa Bag-in-Box Ibi facility in Spain has started the production of bags with a new and more sustainable thermo-laminated metallised film – M-Compact 77. Thanks to the thermo-lamination technology, which bonds individual films together through exposure to heat without using the adhesives that are required for classic lamination, production of M-Compact 77 is more environmentally friendly and resource efficient. Smurfit Kappa has achieved a 12% bag weight reduction and 7% less CO2 emissions.1
Total European shipments of graphic papers in September 2021 were UP 5.8% vs. September 2020 and are UP 5.1% year-to-date. Total European shipments of newsprint in September 2021 were UP 0.9% vs. September 2020 and are down 3.1% year-to-date. Total European shipments of sc-magazine in September 2021 were down 2.4% vs. September 2020 and are UP 2.4% year-to-date. Total European shipments of coated mechanical reels in September 2021 were UP 3.0% vs. September 2020 and are UP 3.6% year-to-date. Total European shipments of uncoated mechanical (improved & others) in September 2021 were UP 2.0% vs. September 2020 and are UP 5.4% year-to-date. Total European shipments of coated woodfree in September 2021 were UP 19.7% vs. September 2020 and are UP 11.4% year-to-date. Total European shipments of uncoated woodfree in September 2021 were UP 8.6% vs. September 2020 and are UP 10.9% year-to-date.
Mondi launches IQ EXTRALIGHT. The new opaque paper solution is produced at Mondi Neusiedler, Austria, and targets the uncoated premium segment in opaque paper for inserts of medications and cosmetics, operating manuals, catalogues, directories or legal text application. IQ EXTRALIGHT offers an excellent printability, folding performance and is developed for both web and sheet-fed offset printing. Mondi’s new paper solution is FSC™ certified and optionally available as carbon neutral to support customers in improving their CO2 balance. It is part of Green Range, Mondi´s umbrella trademark for sustainable paper solutions, and produced in compliance with the FSC™ certification scheme as well as with EC regulation 1935/2004 on materials and articles intended to come into contact with food. The new IQ EXTRALIGHT paper is now available in folio and reels in 40, 45, 50 and 60 g/m² across Europe. Thanks to its excellent printability and runnability, IQ EXTRALIGHT offers high productivity print runs. The optimised folding performance of Mondi’s new opaque paper further ensures trouble-free processing due to its excellent folding properties and high stiffness including a high luminescence factor for automatic scanning. These attributes make IQ EXTRALIGHT the ideal solution for clients requiring a high standard in both web and offset printing. The high opacity of IQ EXTRALIGHT guarantees excellent readability, supporting the automated quality control by its outstanding sheet formation.
Sappi has approved an investment in Kirkniemi Mill in Lohja, Finland which enables a switch in its energy sourcing to renewable bioenergy. With this investment the mill’s direct fossil greenhouse gas emissions will reduce by ca. 90 percent, which is equivalent to 230 000 tons of carbon dioxide annually. “By reducing our use of fossil fuels by shifting to renewable energy, Kirkniemi Mill is increasingly part of the solution to climate change. As the UN Climate Change Conference (COP26) negotiations underpinned, we collectively need to scale up climate action, and such investments are critical to change our emissions trajectory and dependency on fossil fuels”, explains Mill Director Martti Savelainen. The project, set for completion in early 2023, will contribute significantly to Sappi Europe’s decarbonisation roadmap by exiting coal at one of its last facilities partially using this fuel type. Biomass will then be used in Kirkniemi’s multi-fuel boiler, built in 2015. The move advances Sappi towards its 2025 targets which include reducing specific greenhouse gas emissions (scope 1 and 2) by 25 percent and increasing renewable energy share to 50 percent in Europe compared to 2019.
Nordstrom, Inc. reported third quarter net earnings of $64 million or $0.39 per diluted share, with earnings before interest and taxes ("EBIT") of $127 million. For the third quarter ended October 30, 2021, net sales increased 18 percent versus the same period in fiscal 2020 and decreased 1 percent versus the same period in fiscal 2019. The timing of this year's Anniversary Sale, with approximately one week falling into the third quarter of 2021, had a positive impact of approximately 200 basis points on net sales compared with fiscal 2019.
GAP INC. reported a third quarter fiscal year 2021 diluted loss per share of $0.40. Excluding fees associated with restructuring the company’s long-term debt and net charges related to strategic changes in its European operating model, adjusted diluted earnings per share were $0.27. Additional information regarding adjusted diluted earnings per share, which is a non-GAAP financial measure, is provided at the end of this press release along with a reconciliation of this measure from the most directly comparable GAAP financial measure. The company’s third quarter fiscal year 2021 net sales of $3.9 billion were down 1% compared to 2019 with supply chain disruption driving an estimated 8 percentage point negative impact due to constrained inventory.1 The company remains focused on digital dominance through investing in its ecommerce platform, strategically closing unprofitable stores and partnering to amplify in international markets. Online sales grew 48% compared to the third quarter of 2019 and represented 38% of the total business, even as store traffic continues to rebound. Investments in technology are driving an enhanced online experience as the company accelerates its digital strategy. Third quarter comparable sales were up 5% versus 2019. The comparable sales calculation reflects online sales and comparable sales days in stores that were open.
Fredrik Davidsson (52) has been appointed as Executive Vice President, Digital and Process Performance and a member of the Global Executive Team at Huhtamaki as of June 1, 2022 at the latest. He will report to President and CEO Charles Héaulmé and will be based in Espoo, Finland. Fredrik joins Huhtamaki from Tetra Pak where his latest position has been Vice President Services, Europe & Central Asia. Prior to this he has worked in various leadership roles driving large-scope R&D programs and key change management programs, as well as large European services businesses. Prior to his career at Tetra Pak, Fredrik worked at Sony Ericsson and at the Swedish Armed Forces.
Metsä Board, the leading European producer of premium fresh fibre paperboards and part of Metsä Group, has successfully started to deploy Dassault Systèmes’ 3DEXPERIENCE platform in development and testing of packaging solutions at its Excellence Centre. With packaging simulation Metsä Board can notably speed up packaging development and reduce carbon footprint of packaging. Simulation enables 85% faster development compared to the traditional way of making multiple tests with physical prototypes. Simulation technologies help manage the development of the entire product life cycle, from material selection to delivery. The new technology helps Metsä Board recommend optimal packaging materials as well as packaging structures to its customers.
The Association of American Publishers released its StatShot report for September 2021 reflecting reported revenue for all tracked categories, including Trade (Consumer Books), K-12 Instructional Materials, Higher Education Course Materials, and Professional Publishing. Total revenues across all categories for September 2021 were up 2.0% as compared to September 2020, coming in at $1.7 billion. Year to date revenues were up 12.4%, at $11.6 billion for the first nine months of the year. Trade (Consumer Books) sales were up 0.3% in September, coming in at $938.5 million.
The Postal Regulatory Commission today announced that effective immediately, Vice Chairwoman Ashley E. Poling will assume the administrative responsibilities of the agency under 39 CFR 3000.110(b) which states, “…In case of a vacancy in the Office of the Chairman of the Commission, or in the absence or inability of the Chairman to serve, the Vice Chairman, unless otherwise directed by the Chairman, shall have the administrative responsibilities and duties of the Chairman during the period of vacancy, absence, or inability.” Michael M. Kubayanda’s term as Commissioner expired 1 year ago, on November 22, 2020. A Commissioner may continue to serve after the expiration of his or her term until a successor is confirmed, except that a Commissioner may not continue to serve for more than 1 year after the date of expiration, a period commonly known as the “holdover year.” President Joseph R. Biden, Jr. designated Commissioner Kubayanda Chairman of the Commission in January 2021, and he continued to serve in that position until his holdover year ended on November 22, 2021. He is awaiting confirmation by the U.S. Senate after being re-nominated by President Biden.
American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 0.4% in October after rising 2.2% in September. In October, the index equaled 113 (2015=100) compared with 112.6 in September. “October’s gain was the third straight totaling 2.9%,” said ATA Chief Economist Bob Costello. “The combination of solid retail sales, inventory rebuilding, and generally higher factory output offset some areas of softer freight growth, like home construction, in October. “Economic growth remains on solid footing, which is good for truck freight volumes going forward. The largest problem for the industry isn’t the amount of demand, but making sure we have adequate supply. It is good to see that fleets were able to haul more tonnage in recent months in the face of constrained supply,” he said. September’s reading was revised down slightly to 2.2% from our October 19 press release.
As the result of a successful Challenge Brief presentation at the 2021 Aptar Global Supplier Summit, we are excited to announce that Aptar has joined Nextloopp. Nextloopp is a multimember project that is comprised of a diverse group of companies with the common goal of creating a circular pathway for post-consumer Polypropylene (PP) packaging. Aptar will help play a key role in validating the use of this technology, which includes proprietary decontamination and marking technology developed by Nextek. Participation in the project gives Aptar access to early production materials from Nextloopp pilot facilities that can be tested using Aptar’s resin validation control process. These materials have the potential to obtain food-grade approval in addition to inert grades that could be used for cosmetic applications. Aptar will also be able to influence the development of specific types of material that are relevant to our key customers as well as support dossier preparation to regulatory agencies. Delivery of pilot material is scheduled before the end of 2021 and the project will last until October 2022.
Paper Excellence today warned that its customers may see pulp and paper delivery delays due to ongoing supply chain disruption in North America and particularly British Columbia. Over the past three months, global supply chains, ports and carriers have been impacted by disruptions related to the pandemic such as labour availability, lack of shipping containers, delayed carriers and significant port congestion. These backlogs have impacted the company’s ability to get finished products shipped in a timely manner. The atmospheric river weather system that hit British Columbia on Sunday, November 14 was a significant event that caused widespread damage. Although none of Paper Excellence’s facilities were directly impacted, there has been material damage to British Columbia’s infrastructure; particularly its roadways and railways. Closure of the TransCanada Highway, Highway 3 and Highway 5 in addition to the closure of the CP and CN rail lines has further impacted outbound product shipments as the company relies on both truck and rail transportation to move goods. The company also anticipates potential production interruptions over the next four weeks related to forest fibre and other goods shortages received at its British Columbian mills. The situation will be monitored closely in our decision to restart the Crofton facility from its current two week production curtailment.
Stora Enso continues to develop the Trayforma range further and introduces a new solution for conventionally heated food packaging applications, featuring less than 10% PET plastic. Trayforma is a wood fibre-based material for ready meals packaging, enabling brand owners and retailers to switch from fully fossil-based materials to renewables. The new Trayforma PET34 material continues to offer core properties such as food protection and heat resistance but has a significantly reduced amount of fossil-based barrier materials. When heating food in conventional oven, board materials need a PET coating to provide heat resistance and protect food. Meeting the threshold of 10% PET plastic will be an important step in producing trays made of Trayforma a better fit for fiber-based packaging recycling streams, and for achieving recyclable labelling in markets such as the UK. “We believe Trayforma products will have many future applications because they are low-carbon and help brand owners reduce their carbon footprint and use of fossil-materials, offering these benefits to consumers. Thanks to its renewable origin in wood fiber and its optimised barrier options, Trayforma range offers the right performance and several alternatives for the ready meals category, now also better fit for recycling,” says Tuomas Puonti, VP, Head of Business Line LPB Fresh & FSB from Stora Enso.
UPM Raflatac announces great progress toward a more circular economy for plastics and a future beyond fossils. This progress is detailed in the New Plastics Economy Global Commitment 2021 Progress Report by the Ellen MacArthur Foundation and the UN Environment Programme (UNEP). As highlighted in the report, UPM Raflatac has continued to develop its SmartChoice™ and SmartCircle™ product ranges and increased the sales volumes of these products. SmartChoice label materials are designed to reduce material usage and promote the use of recycled content and renewable materials. SmartCircle label materials support packaging recyclability and reuse and so promote the circular economy. Reducing unnecessary plastic packaging is a priority for UPM Raflatac, and through raw material optimization, it has reduced more than 450 tonnes of plastic film raw materials. UPM Raflatac has signature products, e.g., PP Lite, that have a strong reduce element, but it is also applying the reduced principle to its standard films. In addition, the company supports the switch to renewable materials by enlarging and promoting its RAFNXT+ product range, as well as bio-based plastic product range.
Urban Outfitters, Inc. announced net income of $89 million and record third quarter earnings per diluted share of $0.89 for the three months ended October 31, 2021. For the nine months ended October 31, 2021, net income was $270 million and record first nine-month period earnings per diluted share were $2.71. Total Company net sales for the three months ended October 31, 2021, were a record $1.13 billion. Net sales increased 14.6% compared to the three months ended October 31, 2019. Comparable Retail segment net sales increased 14%, driven by strong double-digit growth in digital channel sales, partially offset by mid-single-digit negative retail store sales primarily due to reduced store traffic. By brand, comparable Retail segment net sales increased 55% at the Free People Group, 9% at the Anthropologie Group and 7% at Urban Outfitters. Total Retail segment net sales increased 16%. Wholesale segment net sales decreased 15% primarily from reducing the Free People Group’s sales to promotional wholesale custom ers. For the nine months ended October 31, 2021, total Company net sales increased 14.3% compared to the nine months ended October 31, 2019. Comparable Retail segment net sales increased 16%, driven by strong double-digit growth in digital channel sales, partially offset by low double-digit negative retail store sales due to reduced store traffic resulting from temporary store closures and occupancy restrictions in Europe and Canada. Wholesale segment net sales decreased 23% primarily from reducing the Free People Group’s sales to promotional wholesale customers.
Domestic revenue of $10.99 billion increased 1.2% versus last year. The increase was primarily driven by comparable sales growth of 2.0%, which was partially offset by the loss of revenue from permanent store closures in the past year. Domestic GAAP SG&A was $1.96 billion, or 17.9% of revenue, versus $1.95 billion, or 18.0% of revenue, last year. International revenue of $925 million decreased 7.8% versus last year. This decrease was primarily driven by the loss of revenue from exiting Mexico and a comparable sales decline of 3.0% in Canada. These items were partially offset by the benefit of approximately 450 basis points of favorable foreign currency exchange rates. International GAAP gross profit rate was 25.0% versus 19.0% last year. On a non-GAAP basis, the gross profit rate was 25.0% versus 22.6% last year.
UPM continues to aim for business-specific collective bargaining with the Paperworkers’ Union but has also begun preparations for arranging working conditions temporarily without a collective labour agreement until agreements with the union are signed. During this week UPM communicates the temporary terms of work to employees of businesses where the contractual party is the Paperworkers’ Union. The current collective agreements between the Paperworkers’ Union and The Finnish Forest Industries Federation will end on 31 December 2021. After termination, the current agreement has no binding effect as the parties of the agreement change. The time for negotiation is running out, so UPM must prepare for a situation where no agreement is in place. “To ensure business continuity and payroll, we will prepare to arrange working conditions after the turn of the year according to labour law, UPM practices and personal employment contracts. With business-specific collective bargaining, we can offer better terms for everyone than without an agreement. Entering the negotiations with the Paperworkers’ Union is still our goal”, says Executive Vice President Riitta Savonlahti of UPM Human Resources.
A summary of results for the third quarter ended October 30, 2021 as compared to the third quarter ended October 31, 2020: *Net sales of $905 million, up 10% as compared to last year and up 5% as compared to pre-COVID 2019 third quarter net sales. *Digital net sales of $413 million increased 8% as compared to last year and increased 55% as compared to pre-COVID 2019 third quarter digital net sales. *Gross profit rate of 63.7%, down approximately 30 basis points as compared to last year and up approximately 360 basis points as compared to 2019. The year-over-year decline is driven by approximately 300 basis points of higher average unit cost from freight inflation and efforts to offset supply chain issues, almost fully offset by higher average unit retail on lower promotions. *Operating income of $73 million and $79 million on a reported and adjusted non-GAAP basis, respectively, as compared to operating income of $59 million and $65 million last year, on a reported and adjusted non-GAAP basis, respectively.
As the COP26 summit in Glasgow reached its conclusion, our steadfast commitment towards ensuring sustainability remains at the forefront of our business growth here at HH Global has only strengthened. We are proud to have recently been featured in Deloittes’ Goal 13 Impact Platform Report; a summary of interviews from executive voices and key stakeholders in the market. Having interviewed over 250 companies to date, in sectors from finance to procurement, Deloitte has created a comprehensive summary of how cross-sector collaboration can be harnessed to create the most impactful climate change initiatives. The Goal 13 Impact Platform Report was used throughout the COP26 summit to inform and empower important conversations around businesses’ climate journeys; examining what it takes to make climate programmes successful. It was mentioned at numerous high-profile COP26 events including the CBI business dinner and Hustings.
CJK Group, Inc. announced that it has acquired publishing consultancy and editorial services provider, Kaufman Wills Fusting & Company (KWF) and integrated it with its existing, comprehensive content solutions subsidiary, KnowledgeWorks Global Ltd. (KGL). Based in Baltimore, MD, and employing 99 people, KWF Consulting and sister company KWF Editorial are leading providers of management consulting support and professional editorial services to the scholarly publishing community. KWF Consulting advises clients on strategic planning, new product development, market research, and RFP negotiations. KWF Editorial provides professional staffing solutions for journal editorial office management, peer review services, and editor support.
Leading print consumables provider to the global packaging industry, Flint Group Packaging Inks has revealed its new range of chlorine-free heat sealable coatings under the NexisCode brand name. Launched in support of its overall sustainability vision of ‘supporting packaging markets with responsibly built products and sustainable solutions designed for circular economies’, the new portfolio is designed for a wide range of film, paper and aluminium packaging applications and is based on a number of binder technologies ensuring suitability no matter what substrate is used. The chlorine-free heat sealable coating range meets all technical and regulatory requirements and provides a solution for the latest mono-material packaging structures designed for today’s recycling infrastructure. Stephen Butler, Product Manager for Flint Group Flexible Packaging in Europe, said: “Many brands and corporations are seeking to eliminate polyvinyl chloride from their packaging due to concerns about its impact on the recyclability of packs, as well as the environment. When PVC is mechanically recycled in today’s typical recycling stream, the high processing temperature can cause degradation of the resin into smaller chlorinated components, which can impact the quality of the resulting recyclate.
HP Inc. and IWCO Direct announced a strategic agreement for the supply of a fleet of HP PageWide Web Presses to drive the market for data-driven marketing communications solutions. The multi-million-dollar investment by IWCO Direct in seven high-volume HP PageWide Web Presses is the cornerstone of a $50 million investment being made by the company to continue to grow their performance marketing business using primarily HP digital printing by 2023. The presses deliver next-level inkjet color quality and speed for a wide range of direct mail applications across a broad range of substrates such as letters, postcards, catalogs, and folded mailers. “The HP technology upgrades our data-driven performance marketing services to maximize the return on marketing investment (ROMI) for our clients, which is critical in today’s climate. Our clients value the effectiveness of direct mail, but want to produce it faster and integrate it with companion channels, so they can reach their recipients more quickly with personalized, relevant messages,” said John Ashe, CEO of IWCO Direct.
Mondi has taken home a Hungaropack award for its sustainable paper-based FlexiBag at this year’s contest organised by the Hungarian Association of Packaging and Materials Handling. Mondi’s FlexiBag is made from renewable paper resources and enhanced with a functional plastic barrier ensuring premium product protection. The packaging impressed the jury with its potential to minimise plastic waste across numerous industries and sectors, most notably for dry perishable goods. In addition, the paper-based FlexiBag was recognised for its high-quality flexoprinting quality, which offers brands great shelf appeal. "We are honoured that this award acknowledges Mondi’s drive to deliver packaging that is sustainable by design. It is a testament to our EcoSolutions approach that puts our customers’ unique needs and environmental objectives at the heart of every project. Our paper-based FlexiBag is a direct result of this and a great example of impactful innovation as its adoption contributes to a better world." Sandor Kardos, Managing Director Mondi Békéscsaba
While the merger of Domtar and Paper Excellence has been approved by the Competition Bureau of Canada, part of the approval means the Kamloops pulp mill must be sold to a third party. On May 11, 2021, Paper Excellence and Domtar, based on Montreal and Fort Mill, S.C., entered reached an agreement for Richmond-based Paper Excellence to purchase Domtar for $55.50 per share, a deal worth about $3 billion in United States currency. The merger agreement had a provision that limited the obligation to divest assets to no greater than 410,000 dried metric tons of softwood kraft pulp. The Domtar pulp mill in kamloops has 408,000 tons of production and is the company’s only kraft pulp mill in B.C. that is part of the deal. The Competition Bureau of Canada has concluded that the merger would likely lessen competition substantially for the purchase of wood fibre — a key input in the manufacture of pulp — from the Thompson/Okanagan region.
The carbon footprint of food is approximately 30 times higher than that of its packaging. So, preventing food waste by protecting food with the right packaging is a crucial step towards a sustainable society. “As a Frenchman, food is definitely part of my heritage. At the same time, as I have experienced living in many and diverse countries, I have seen the importance of making food safe and available everywhere across the world,” says Charles Héaulmé, President and CEO of Huhtamaki. Food packaging is essential. It promotes hygiene. It secures food safety. Furthermore, the pandemic serves as a reminder of the importance of reducing cross contamination and enabling food availability – affordably and at low emissions. Food packaging also helps prevent food waste, which accounts for 10% of global greenhouse gas emissions. As the carbon footprint of packaged food is approximately 30 times higher than that of its packaging, having the right packaging for each food system pays off from a climate protection perspective.
Paper Excellence announced today that it is donating $50,000 to Saskatchewan Polytechnic to create a Paper Excellence student awards scholarship program. The scholarship awards will be distributed over the next five years with $2,500 available to each of four students each year. The awards are meant to encourage and recognize Saskatchewan youth with high academic achievement and financial need. They will be available to students enrolled in programs related to the operation of a pulp mill such as engineering, industrial mechanics, innovative manufacturing or welding. “As we continue to grow our footprint in Saskatchewan, we know it’s important to invest in the community,” said Carlo Dal Monte, Vice President, Energy and Business Development. “Investing in young people in Saskatchewan and supporting the development of the local workforce made sense from our end. With Saskatchewan Polytechnic’s excellent programs, many campuses around Saskatchewan, and stellar track record of developing the province’s workforce, we’re thrilled to be making this contribution.”
Felix Schoeller Group expands packaging product portfolio: Environmentally friendly packaging solution made of 95% paper – suitable for disposal with waste paper The Felix Schoeller Group of Osnabrück, Germany, has expanded its packaging product portfolio – with great success. An international audience of industry professionals got their first glimpse of the varied new range at the Fachpack trade fair in Nuremberg at the end of September.One of the highlights was the innovative FlexPaper pure, which is made using an extrusion lamination process and renewable, FSC-certified pulp from sustainable forestry. FlexPaper pure packaging is an eye-catcher at every point of sale thanks to the outstanding properties of the specialty paper, which lead to optimum flexographic and gravure printing results. But that’s not the only reason it is already causing such a stir – thanks its high total paper content of 95 percent, Felix Schoeller’s new packaging solution can be disposed of easily with the waste paper once it has been used. This has been confirmed in an independent packaging analysis using the “Made for Recycling” test method, which concluded that FlexPaper “recycles well”.
Tronox Holdings plc has received a Platinum Rating by EcoVadis in recognition of its sustainability efforts. The Platinum Rating puts Tronox in the top one percent of companies evaluated and represents a significant improvement over its Silver Rating in 2019 and 2020. The step change in Tronox’s 2021 EcoVadis rating reflects how deeply embedded sustainability and corporate social responsibility have become in its business practices and the advancements Tronox has made in its public disclosure on these topics. The EcoVadis assessment focuses on four themes: the environment, labor and human rights, ethics, and sustainable procurement. Tronox achieved a 10-point increase in all categories, and a 20-point increase in the environmental category. “In the past 18 months, we have taken a number of significant steps that demonstrate our commitment to sustainability, including publicly announcing our plan to achieve net zero greenhouse gas emissions and other environmental targets, aligning with Task Force on Climate-Related Financial Disclosures (TCFD) and Sustainable Accounting Standards Board (SASB) reporting, becoming a member of the UN Global Compact, and creating and implementing new compliance and environmental policies,” said Melissa Zona, Tronox’s Senior Vice President, External Affairs and Chief Sustainability Officer. “This accomplishment also reflects the importance of sustainability to our employees, who remain focused on operating our business responsibly for our customers, communities and future generations.”
Paper Excellence B.V. and Domtar Corporation jointly announced that they have received Canadian Competition Act approval for their business combination whereby Karta Halten B.V., an affiliate of Paper Excellence, will acquire all of the issued and outstanding shares of Domtar common stock for $55.50 per share in cash pursuant to an agreement and plan of merger dated May 10, 2021. The consent agreement filed by the Canadian Commissioner of Competition with the Competition Tribunal today fulfills the final condition to the closing of the Merger. The consent agreement requires that, following the closing of the Merger, Domtar’s pulp mill in Kamloops, British Columbia be sold to resolve the Commissioner’s concerns about the Merger’s implications on the purchase of wood fibre from the Thompson/Okanagan region in British Columbia. The transaction remains on course to close in the fourth quarter of this year.
As the Postal Service enters the busiest weeks of the year for mailing and shipping, the agency reported new service delivery performance scores that showed improvements for First-Class Mail and Periodicals, and steady performance for Marketing Mail for the first six weeks of the fiscal first quarter. First quarter-to-date service performance scores covering the period Oct. 1 through Nov. 12 included: *First-Class Mail: 91.1 percent of First-Class Mail delivered on time against the USPS service standard, an improvement of 2.6 percentage points from the fourth quarter. *Marketing Mail: 92.4 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fourth quarter. *Periodicals: 83.2 percent of Periodicals delivered on time against the USPS service standard, an improvement of .5 percentage points from the fourth quarter.
Staying connected in the digital world relies more and more on having the latest and greatest devices at your disposal. Consumers who do not, or cannot afford to keep up with the most current technology, are increasingly finding themselves left as roadkill on the digital superhighway. Phones, tablets, computers and other connected devices have shorter and shorter lifespans, and the factors conspiring to render them obsolete are numerous. The latest killer stalking millions of devices more than a few years old is the termination of 3G cellular networks, which is set to begin in January 2022. One of the growing pains to get to faster, better 5G networks deployed nationwide involves the major carriers – AT&T, T-Mobile and Verizon – decommissioning their older networks in order to repurpose critical spectrum. The sunsetting of 3G will start happening early in the new year, with each company operating on its own schedules, which will also impact smaller carriers that rely on their networks.
The Occupational Safety and Health Administration said it is suspending enforcement of the Biden administration’s COVID-19 vaccine mandate for large private businesses “pending future developments.” The move comes after the U.S. Court of Appeals for the Fifth Circuit temporarily halted the rule, saying that that it “grossly exceeds” the authority of the agency that issued it.” "The court ordered that OSHA 'take no steps to implement or enforce' the ETS [Emergency Temporary Standard] 'until further court order.' While OSHA remains confident in its authority to protect workers in emergencies, OSHA has suspended activities related to the implementation and enforcement of the ETS pending future developments in the litigation,” OSHA stated.
HarperCollins Publishers announced a global commitment to becoming carbon neutral for its direct operational emissions in 2022. In order to meet this goal, HarperCollins has appointed award-winning sustainability strategy consultancy Brite Green to develop and implement effective sustainability strategies and targets. HarperCollins will initially focus on Scope 1 and 2 emissions, targeting on-site electricity and fuel energy usage. As part of the News Corp Global Environmental Initiative, HarperCollins is also working toward a goal of achieving net zero carbon emissions across its operational and supply chain by 2050 or earlier, in line with the Paris Agreement. “As a leading global publishing company, we have a responsibility to mitigate the impact of our business on the environment and to identify ways to improve the sustainability of our industry,” said Brian Murray, President and CEO, HarperCollins Publishers. “We have been successfully reducing our emissions and becoming carbon neutral in Scopes 1 and 2 is the next step in the process. We will continue to work toward our long-term targets and seek to reduce carbon emissions and their associated costs from our business overall.”
Two House Democrats have reintroduced a sweeping privacy bill that would impose broad restrictions on companies' ability to use online data for ad targeting. The 143-page Online Privacy Act, introduced by California Reps. Anna Eshoo and Zoe Lofgren, would require that companies obtain consumers' explicit consent before collecting or drawing on their “personal information” in order to serve them with targeted ads, or to personalize content. The bill authors define personal information broadly enough to cover the type of data typically used for ad targeting. The definition includes de-identified data, as well as data that is reasonably linkable to a device or individual. One of the bill's many provisions would give consumers the right to access, edit and delete data about themselves.
The Slovak Forest Certification Scheme has been submitted to PEFC for assessment. The public consultation, which is your chance to give your feedback on this revised system, will run from 29 November to 27 January 2022. PEFC Slovakia revised the country’s national forest certification system following the entry into force of the revised 2018 PEFC Sustainable Forest Management standard. To provide you with additional information, we are holding a webinar on 29 November, at 10:00 CET. The webinar is free to attend, and everyone is welcome.
Sonoco in partnership with Tellus Products, LLC, a company that produces USA grown and made, plant-based compostable packaging for foodservice products, today announced the receipt of a prequalified label, Check Locally for recyclability from How2Recycle for the Natrellis line of food packaging. Natrellis, a dual-ovenable package made with upcycled sugarcane fiber and other U.S. grown plant fibers features a highly engineered surface that delivers outstanding performance through the product’s full lifecycle, providing consumers a great product experience. This performance helps maintain the package strength during all phases of use, preventing loss of food moisture and eliminating wicking through the package to outside surfaces. Sonoco also provides custom rigid lidding and flexible lidding for these market solutions. The flexible lidding is customized for strong heat-seals around the perimeter of the fiber tray lip, preventing leakage prior to freezing and freezer burn while maintaining adhesion during cooking and easy to peel consumer use. The rigid lid is developed to include a click audible sound, ensuring the product is sealed tight for transportation but easy for consumer use.
Aptar announced that it has been ranked #1 on Forbes’ Green Growth 50 2021 inaugural list. As part of the Green Growth 50, Forbes is highlighting large American corporations that have managed to cut their greenhouse gas emissions, while simultaneously growing earnings. “We are honored to be recognized with the #1 spot on the Green Growth 50 list by Forbes. This is a tremendous recognition of our progress to both drive earnings growth and become a more sustainable, diverse and inclusive company that is focused on furthering a circular economy. In fact, it is these very efforts that help grow our business.” said Stephan B. Tanda, Aptar’s President and CEO. “We look at everything we do through a sustainability lens because our patients, customers and consumers are actively seeking more sustainable solutions.”
The American Veterinary Medical Association (AVMA) has launched a new portal on KGL PubFactory, a division of KnowledgeWorks Global Ltd. (KGL), for its two influential peer-reviewed journals, the flagship Journal of the American Veterinary Medical Association (JAVMA) as well as the American Journal of Veterinary Research (AJVR). The result of a rapid, six-month migration that included the conversion of over 13,000 archive articles dating back to 2000, the new site at avmajournals.avma.org supports single-sign-on for Association members, and ecommerce through AVMA’s webshop via integration with the Aptify membership management platform. In addition to online hosting, AVMA is now using KGL content services for automated copyediting, composition, and electronic deliverables; and sister-company Sheridan for printing of the two journals.
Worzalla CEO and President Jim Fetherston was awarded the Signature Award at the Book Manufacturers’ Institute’s Fall Annual Conference. The Book Manufacturers’ Institute (BMI), a nationally recognized trade association representing the book manufacturing industry, created the Signature Award to recognize BMI members who have made a valued contribution to the welfare of the industry through the display of superior leadership qualities. The Signature Award, awarded only when the BMI board of directors identifies worthy candidates, has just 44 recipients in BMI’s 90-year history. “While there have been ups and downs for U.S. book printers during the last few decades, we have all learned one truth: the printed book is not dead and, in fact, is thriving,” said Fetherston. “It has been a privilege to help lead our industry to the fruitful landscape that we are experiencing today. I humbly accept the Book Manufacturers’ Institute’s Signature Award on behalf of all our industry partners who trust us to get the job done and the many people on the ground responsible for making each and every book that we are sending to bookshelves, libraries, schools, and homes across the country.”
Rayonier Advanced Materials announced that Joshua C. Hicks is joining the company as Senior Vice President, High Purity Cellulose to lead the High Purity Cellulose business. Hicks brings nearly 20 years of business leadership experience in the chemical and advanced materials industries, most recently as Vice President, Global Industrial Solutions for Univar Solutions, a global chemical and ingredients distributor and provider of value-added services. In this role, he was responsible for a $1.3 billion global specialty chemicals and ingredients division. He previously worked for Nexeo Solutions, acquired by Univar in 2019, in various specialty chemical business unit leadership positions overseeing coatings and construction, personal care, and energy. Hicks began his career with Dow Chemical in various commercial and leadership roles of increasing responsibility across multiple business units.
Paper Excellence announced the temporary curtailment of operations at its Catalyst Paper tiskwat mill. Severe challenges with local and global supply chain congestion exacerbated by BC’s recent atmospheric river event have caused significant paper inventory and movement problems for the company. The curtailment is targeted to begin in the week of November 22, 2021 and we will evaluate conditions for potential restart in early January 2022. Paper Excellence will endeavour to supply paper customers with production from Crofton and Port Alberni as it hopes for a speedy return to normalcy of supply chain performance. Crofton’s pulp and paper operations are currently curtailed until November 24 with its power boiler’s maintenance outage. The company continues to believe that Canada is a leader in the pulp and paper industry and remains committed to its long-term investments here.
Mondi is investing €20 million to further improve the sustainability of its pulp production at the Frantschach mill in Austria. The mill, which is celebrating its 140th anniversary in 2021, has already been self-sufficient in terms of energy for many years and supplies surrounding communities and industrial companies with surplus heat from the pulp production process.“Today, the focus on sustainability and circularity puts fibre-based products, and pulp, right into the spotlight. Not only is wood a renewable resource, but we know that paper is the most widely recycled material in the world with, for example 74% of paper and 83% of paper-based packaging in Europe being recycled. Our new plant equipment will make our pulp production even more efficient and sustainable. The modernisation and expansion of the evaporation plant increases the amount of heat extracted and reduces the need for steam. It also reduces the chemical oxygen demand of the biological waste water treatment by 140 tonnes per year”, says Gottfried Joham, Managing Director of Mondi Frantschach. The decision to invest was driven by the need to make best use of wood as a primary input.
National Average Price for Regular Unleaded Current: $3.413; Month Ago: $3.340; Year Ago: $2.118. National Average Price for Diesel Current: $3.645; Month Ago: $3.557; Year Ago: $2.391.
American Dollar to Canadian Dollar = 0.790172; American Dollar to Chinese Yuan = 0.156520; American Dollar to Euro = 1.128850; American Dollar to Japanese Yen = 0.008798; American Dollar to Mexican Peso = 0.048043.
Fourth Quarter and Fiscal Year Highlights: *Net sales growth of 22% and 18% in the quarter and fiscal year, respectively *Fiscal year organic volume growth of 4%; HHS +5%, CPNA +4%, EM +4% and CPI +3% *Fiscal year net income per share (EPS) up 28% to $5.30 and adjusted EPS up 20% to $5.80 ($7.21 including amortization of intangibles from acquisitions) *Cash flow from operations and free cash flow of $1.6B and $904M, respectively
A federal appeals court on Friday upheld the major rate hikes imposed in August by the U.S. Postal Service, saying the Postal Regulatory Commission’s order underlying the increases was neither arbitrary and capricious, nor did it exceed the Commission’s statutory authority. The decision, by the U.S. Court of Appeals for the District of Columbia Circuit, preserves a 6.8% increase for first-class mail and an 8.8% increase for package services — hikes of unprecedented size in recent years. The increases came after the PRC late last year finished an overhaul of the existing rate-setting system, which it had deemed inadequate. The new rate system ties price caps to what the PRC identified as the USPS’ most significant cost drivers: fewer pieces of mail going to more addresses and benefits payments the agency is required to make for future retirees.
*Third quarter net sales and earnings exceed expectations and company raises full year 2021 financial outlook *Third quarter net sales increase 15.5%; third quarter comparable sales increase 14.7% *Record third quarter diluted earnings per share of $1.65 and company raises full year 2021 guidance to $7.10 to $7.30 *Repurchased $506 million of shares in the quarter and now plans to repurchase $1.3 billion of shares in 2021 *Ended the quarter in a strong financial position with $1.9 billion in cash
*Comparable sales up 37.2% on an owned basis and up 35.6% on an owned-plus-licensed basis versus 2020; up 8.9% and up 8.7%, respectively, versus 2019 *Diluted EPS of $0.76 and Adjusted diluted EPS of $1.23 *Repurchased $300 million of shares, repaid $1.6 billion in debt ahead of schedule and paid $46 million in dividends *Added 4.4 million new customers into Macy’s brand, a 28% increase over 2019
Berry Global Group, Inc. announced its most ambitious sustainable packaging goal to date: 30% circular plastics use across its fast-moving consumer goods packaging by 2030. Circular plastics include recycled and renewable resins like bioplastics. Berry’s global footprint and purchasing scale offer unique access to the supply of high-quality recycled material. As the Company moves away from its reliance on virgin plastic, Berry’s new 30 by 30 goal surpasses its previous goal to use 10% post-consumer recycled (PCR) resin by 2025. The new target aims to give natural resources multiple lives and increase the use of bio-based products made from renewable resources as Berry envisions decoupling from virgin plastic and fossil fuels in the long term. Leveraging its unmatched global capabilities, intellectual knowledge, and deep innovation expertise to serve customers of all sizes around the world, Berry plans to meet its new recycled content goal through: *Leading and early access to innovative materials like recycled and renewable resins. *Agility in its global manufacturing capabilities aligned with evolving recycled content legislation. *Continuing significant sustainable packaging progress by collaborating with leading brands.
The Two Sides North America (TSNA) Board of Directors is pleased to announce the election of four new Board members to serve two-year terms beginning January 1, 2022: Vanecia Carr, Domtar Corporation; Edward Jansen, Canon Solutions America, Inc.; Jim Montague, Sylvamo Corporation; Lindsay Murphy, American Forest and Paper Association. In other business, The TSNA Board elected William Rojack, MIDLAND, to succeed Hester as Board Chairman effective January 1. “Two Sides has accomplished a great deal in its first 10 years, but there is much more to do as the print, paper and paper-based packaging industry continues to confront unsubstantiated claims about the sustainability of our industry and our products,” Rojack says. “I look forward to leading TSNA’s talented Board as we look for new ways to share our industry’s great sustainability story and as we directly respond to misleading environmental claims in ways that individual companies and other organizations cannot.”
Eduardo Rojas Briales, former Assistant Director-General and Head of the Forestry Department at FAO and Chair of the Collaborative Partnership on Forests, was elected the new Chairman of PEFC International at the 26th PEFC General Assembly. “The past years have seen forests being put at the centre of key global debates, especially in combating climate change,” said Mr Rojas Briales, following his election. “This unprecedented fact provides huge opportunities to share broadly the expertise accrued in the PEFC family with key stakeholders in these deliberations.” “Although PEFC’s main instrument is certification, its mission and grounding values are much broader and go much further. Bottom up, locally anchored forest management by families, communities, or indigenous peoples, as well as by other private and public players, is the backbone of PEFC. There is no other organization world-wide that represents the forest community in an integrated manner like the PEFC.”
Sonoco ThermoSafe, the leading global provider of temperature assurance packaging, and Singapore Airlines, a trusted partner in transporting high-value, time and temperature sensitive pharmaceutical cargo across the world, are pleased to announce a global partnership agreement for leasing the new Pegasus ULD® temperature-controlled bulk shipping container. The agreement enables pharmaceutical freight forwarders access to Pegasus ULD® containers directly from Singapore Airlines. Singapore Airlines and mutual clients will also have access to other Sonoco ThermoSafe containers as part of this agreement. Sonoco ThermoSafe’s Pegasus ULD® is the world’s first FAA and EASA-approved passive bulk temperature-controlled ULD container for pharmaceutical use, which enables it to speed through international air freight handling and customs processes at the lowest possible cost. With a focus on sustainability, the Pegasus is engineered with composite materials, offering a lighter solution that is also substantially more damage-resistant than traditional metal containers. Additionally, the Pegasus ULD® contains a fully integrated, FAA-approved telemetry system providing real-time, cloud-based data on payload and ambient temperature and key environmental factors, precisely synchronized with GPS location.
• A new survey of 12,000 consumers in six countries worldwide shows that 76% of them would like to recycle more than they do now. • Recyclability is the packaging sustainability attribute consumers care most about, above other options including reusability and the type of materials used. • Amcor also released its 2021 Sustainability Report showing strong progress on its aspirations, including multiple innovations that provide consumers with the opportunity to recycle more. When it comes to packaging and sustainability, consumers are clear: provide options to recycle more, make recycling easier and ensure the product is in fact recycled.
Ilkka Hämälä, President and CEO of Metsä Group, has been appointed the new Chairman of Cepi, the European Confederation of the Paper and Pulp Industry as of January 1, 2022. Hämälä's mandate will last for two years. Cepi is an influential trade association which represents 500 companies in the forest and bio-based sector operating more than 890 pulp and paper mills across Europe and directly employing 180,000 people through 18 national associations. Cepi represents the forest industry in the various EU institutions with the aim of improving the competitiveness of the European forest industry. “The European forest industry produces wood-based products for people’s daily lives. The strong forest industry contributes to the wellbeing of the entire continent. Our task is to ensure that the sustainability of the wood-based products and the forest industry, as well as the industry’s social significance are understood in EU decision-making, ”says Ilkka Hämälä.
Nahan announced that it has expanded its digital printing platform with the addition of the ProStream 1800, manufactured by Canon Solutions America. “This state-of-the-art continuous feed inkjet press will enable Nahan to deliver highly targeted and personalized print at exceptional speeds with award-winning quality and flexibility, unlike anything we’ve seen,” said Nahan CEO Mike Ertel. With the ability to produce over 62 million letter impressions per month, the ProStream will increase Nahan’s overall capacity, while reducing production cycle times and enabling faster speed to market for its clients. Setting a new benchmark for inkjet quality, the ProStream1800 provides a color gamut beyond offset standards on most papers. At full speed, the ProStream leverages 1,200 dpi resolution with Canon multi-level ink drop size modulation for smooth shadings, striking details in dark tones, and sharp fonts. The ProStream allows for flexibility across a wide range of media, including standard offset coated, uncoated, and inkjet optimized papers from 40gsm to 300gsm. This will allow Nahan to efficiently produce a wider range of formats than ever before, from premium direct mail, to catalogs, self-mailers, and more. Another compelling feature of the ProStream is that it can produce fully variable 4-color catalog covers in-stream – a new and unique advance in capabilities for Nahan.
Convergence in the printing industry — the process by which print segments come together through print service providers (PSPs) expanding into segments beyond their primary segment — is a phenomenon that has been occurring for many years. In 2018, NAPCO Research and PRINTING United Alliance conducted the first printing industry convergence study. The analysis of commercial, in-plant, packaging, wide-format, garment, and industrial PSPs validated the convergence phenomenon, assessed the degree to which it is occurring, measured attitudinal beliefs as to convergence trends, and defined a printing industry migration pattern. Download the convergence study at: https://piworld.tradepub.com/free/w_hp496/
Our Meadow Lake mill enjoys a stable supply of quality fibre, drawn from 1.9 million hectares of nearby boreal forest. It’s an awesomely beautiful and productive region, and it’s managed through a long-standing and highly successful partnership with local Indigenous nations. Mistik Management Ltd. holds the provincial Forest Management Agreement for the area. Mistik is an equal partnership between our Meadow Lake operation and NorSask Forest Products, which in turn is owned by the Meadow Lake Tribal Council. In addition to supplying fibre to the partners’ mills, Mistik provides forest management services to L&M Wood Products, which is also Tribal Council-owned. This arrangement – and the resulting revenue and employment and contracting opportunities – is a foundational element of the economic-development strategy of the nine First Nations that make up the Meadow Lake Tribal Council. It is also a model of localized, inclusive and participatory forest management (certified to Forest Stewardship Council standards). A public advisory group, for example, plays a key role in developing Mistik’s 20-year Forest Management Plans, the most recent of which was approved in May 2019.
ThinkBox was created to support customers from a variety of industries in any phase of their quest for improved corrugated packaging. It is a knowledge pool continuously filled by industry and sustainability experts and the ideas and expertise of a large network of award-winning designers. The first three ThinkBox sites are located at Mondi Bupak in České Budějovice (Czech Republic), Mondi Tire Kutsan in Tire (Turkey) and Mondi Ansbach (Germany). The ThinkBox concept invites customers to unleash their full potential in a variety of possible settings: *Think Co-creation – individual workshops to solve a specific packaging issue or to explore how to bring visions to life *Think Skills – a variety of training courses and skill transfer events *Think Inspiration – interactive webinars and insight events *Think Verification – performance tests of packaging solutions
R.R. Donnelley & Sons Company on November 3, 2021 announced it entered into a definitive merger agreement to be acquired by affiliates of Atlas Holdings LLC for $8.52 per share in cash for each share of RRD common stock. RRD announced on 11/16/2021 that it has received a proposal from Chatham Asset Management, LLC to acquire all of the outstanding shares of RRD not already owned by Chatham for $9.10 per share in cash. The RRD Board of Directors, consistent with its fiduciary duties and in accordance with the terms of its merger agreement with Atlas, will carefully review and consider the Revised Proposal to determine the course of action that it believes is in the best interests of the Company and RRD shareholders. RRD shareholders do not need to take any action at this time and the RRD Board of Directors has not yet made any determination with respect to the Revised Proposal. Centerview Partners LLC is serving as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to RRD.
*Third quarter comparable sales grew 12.7 percent, on top of 20.7 percent growth last year. -Comparable sales growth was driven entirely by traffic. -Store comparable sales increased 9.7 percent, on top of 9.9 percent growth last year. -Digital comparable sales grew 29 percent, following growth of 155 percent last year. -Same-day services (Order Pickup, Drive Up and Shipt) grew nearly 60 percent this year, on top of 200 percent last year. -More than 95 percent of Target's third quarter sales were fulfilled by its stores. *All five core merchandise categories delivered double-digit comparable sales growth, on top of strong sales performance last year.
Bookstore sales posted another huge gain in September, with sales jumping 42.1%, to $881 million, over 2020, during which September sales were $620 million, according to estimates from the U.S. Census Bureau. While sales growth has slowed since spring, monthly increases remain substantially over those of the 2020 slump, when many bookstores were shut to in-store shopping for much of the year. For the entire retail segment, sales were up 14.7% in September. Sales are up 20.2% in the year to date.
The print and paper advocacy group Two Sides are excited to announce its newest member, one of the leading book printers in the UK, Print On Demand Worldwide. Quality is at the heart of Print On Demand Worldwide – it is the backbone of the business, from investing in the latest high-tech printers bringing a true on-demand service for customers, to customer service that ensures a bespoke service for all. “Print On Demand Worldwide are delighted to become a member of Two Sides. We believe in being green and working towards an environmentally conscious printing future. We’ve won many awards for our environmental flair over the years and, by using Two Sides’ materials and research, we look forward to promoting the sustainable story of print media and enhancing our own sustainability story even further,” says Andy Cork, Managing Director for Print On Demand Worldwide.
Berry Global Group, Inc. announced an agreement with PureCycle that will provide Berry with PureCycle’s Ultra-Pure Recycled (UPR) advanced recycled resin. This agreement is the latest in a growing list of advanced recycling material sourcing announcements from Berry and is the Company’s second based in North America. If given the option to buy products with recyclable or compostable packaging, 47% of Americans opt for recyclable products as their first choice, and 20% prefer compostable products. (Ipsos, Aug. 2021) *77% of Americans are concerned about the environmental impact of products they buy, and 78% are more likely to purchase a product that is clearly labeled as environmentally friendly. (Greenprint, April 2021) *64% of consumers say that buying sustainable products makes them feel happy about their purchases (this reaches 72% in the 25-35 age group). (Capgemini Research Institute, July 2020). As demand for sustainable products grows, customers look to Berry for access to recycled material and packaging design expertise to maintain their brand image and package performance. As a result, Berry continues its leadership position in the converter market for access to recycled plastic material – over 600 million pounds per year by 2025.
Pro forma Q3/2021 compared with Q3/2020 (AhlstromMunksjö) • Net sales increased by 18.7% to EUR 777.0 million (654.5) on higher selling prices and delivery volumes • Comparable EBITDA improved to EUR 93.4 million (78.9), representing 12.0% (12.1) of net sales, on higher delivery volumes. Reported Q3/2021 • Reported operating result was EUR 23.2 million and included items affecting comparability and other items of EUR -23.7 million • Net result was EUR -9.2 million including net financial items of EUR -31.9 million and taxes of EUR -0.4 million
“BillerudKorsnäs has an incredible opportunity at the sweet spot of trends supporting a growing demand for our renewable, high-quality products made of primary fibres. We have developed a strategic direction around how to reach a profitable and sustainable revenue growth to 2030,” comments Christoph Michalski, President and CEO. BillerudKorsnäs’ new strategy focuses on attractive markets with good growth opportunities and product segments where the company has a strong ability to compete. • Whilst Europe will remain the main market, new business opportunities will be explored, specifically for paperboard in the Americas. • To maximise the organic growth opportunity operational efficiency will be critical. Therefore, the annual investments in mill maintenance and development are expected to reach SEK 1.5-1.7 billion until 2025. • Possibilities to increase production capacity at the group’s existing facilities or via acquisitions will be evaluated. • Transformation towards a professional sourcing organisation for wood supply is an integral part of the strategy with the aim to build long term partnerships to secure a competitive fibre availability. • Additional structural savings under the current cost and efficiency programme is estimated to amount to SEK 130 million during 2022.
The Home Depot® reported sales of $36.8 billion for the third quarter of fiscal 2021, an increase of $3.3 billion, or 9.8 percent from the third quarter of fiscal 2020. Comparable sales for the third quarter of fiscal 2021 increased 6.1 percent, and comparable sales in the U.S. increased 5.5 percent. Net earnings for the third quarter of fiscal 2021 were $4.1 billion, or $3.92 per diluted share, compared with net earnings of $3.4 billion, or $3.18 per diluted share, in the same period of fiscal 2020. For the third quarter of fiscal 2021, diluted earnings per share increased 23.3 percent from the same period in the prior year.
• Walmart U.S. Q3 comp sales1 grew 9.2%; 15.6% two-year stack; Comp transactions up 5.7% • Q3 FY22 GAAP EPS of $1.11; Adjusted EPS2,3 of $1.45 • Company expects Walmart U.S. Q4 comp sales of around 5%; Raises EPS guidance for third consecutive quarter • Walmart U.S. inventory up 11.5% ahead of holidays
Meredith Corporation announced that its pending acquisitions by Gray Television Inc. and IAC's Dotdash Media Inc. received key regulatory approvals. First, the Federal Communications Commission has approved Gray's acquisition of Meredith Corp., and Meredith will now seek the transaction's approval at a November 30, 2021, special shareholder meeting. Immediately prior to the Gray acquisition, Meredith will spin its digital, magazine, MNI, PEOPLE TV, and corporate operations out to shareholders as a new company, Meredith Holdings Corp., that Dotdash has agreed to acquire. Additionally, Meredith announced the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976 for Meredith Holdings' acquisition by Dotdash expired on November 12, 2021.
America Recycles Day was established by the Environmental Protection Agency (EPA) to recognize the importance and impact of recycling. While we still have a lot of work to do in our country to improve the recycling infrastructure and to educate citizens on best practices, the EPA reports that the recycling rate has increased from less than 7% in 1960 to the current rate of 32%. That is both exciting and encouraging! This is a day to remind ourselves and others that recycling is important, that it makes a real difference, and to encourage proper recycling practices. Let’s check in on these and explore the concept of wishcycling while we’re at it. You can always check the EPA website for an up-to-date land comprehensive resource about recycling, including all the great benefits it brings and how to contribute.
As consumers, every time we finish a product, we have a choice to make about the empty container: Will it be repurposed, recycled, or sent straight to the trash can? The decision may seem like an insignificant one (after all, what’s just one piece of trash from one consumer, anyway?)—but, depending on the packaging and the substrate it’s made from, this simple action can contribute to major collective impact. Take metal, for example: Every minute, nearly 90,000 aluminum beverage cans are recycled in the U.S. Together, that volume of recovered materials saves enough energy to power more than 35,000 U.S. homes for one hour, demonstrating the importance of viewing each piece of packaging as a critical component of a much larger entity.
Meal kits aren’t a new concept. In fact, the delivery service has been around for more than a decade. But, during the beginning of the COVID-19 pandemic, a newfound demand for fresh, shipped groceries started to skyrocket. As going to your local grocery store to grab everything on your weekly list became more difficult, people around the world searched for services that not only shopped for them but also taught them how to cook. As profitability and membership among meal kit services surged, some companies even saw sales rise more than 100 percent compared to the year prior. Success has permeated into 2021, bolstering the top meal kit players’ subscriber bases. For example, HelloFresh reported a 74.2 percent increase in active users compared to 2020 during the first three months of the year. While it’s hard to predict what the future holds for meal kit services, it’s safe to say the market is viable and growing in the short term.
The Sustainable Green Printing Partnership (SGP), the leading authority in sustainable printing certifications, announced today the release of version 4.0 revised criteria of its sustainability certification which was first established in 2008. The new criteria which will be effective Jan. 1, 2022, maintain a focus on the three pillars – societal, economic, and environmental – through the development, implementation and documentation of a robust sustainability management system (SMS) and series of best practices. Revised every five years, SGP’s certification criteria establishes certified facilities as leaders in the sustainable supply chain for print and related supplies. The SGP Board of Directors approved version 4.0 which further streamlines the criteria, as well as includes provisions pushing the circular economy model. With a circular approach, the certification makes SGP facilities one of the strongest parts of a sustainable supply chain. Criteria focus on validation and documentation of operational metrics help facilities contribute to their customers’ sustainability goals.
Transcontinental Advanced Coatings is thrilled to announce the launch of the Total Care product portfolio of medical components used in the manufacturing of advanced wound care dressings, consumer & cosmetic dressings, ostomy devices, IV, patient monitoring devices, and medical antimicrobial hard coats. This new, technically superior portfolio provides leading tailored solutions that support the highest level of brand confidence, patient comfort, care, and healing. The Total Care line is a comprehensive medical product portfolio that features the trusted and newly enhanced inspire® product range of ultra-thin polyurethane films and innovative medical-grade adhesives for advanced wound care. Additionally, we have added new complementing platforms of silicone adhesives and hydrophilic foams used in bi- and tri-laminate constructions and wound dressings. The Total Care line also extends to z-flo™ conductive films for patient monitoring and medical devices, and reflex™, our range of antimicrobial hard-coated, optical-grade films, that stand up to the most challenging applications for HMI (human-machine interface) and MTS (membrane touch switch) applications.
International technology group ANDRITZ has successfully started up a chemi-thermomechanical pulping system delivered to Sun Paper for its mill in the city of Beihai, Guangxi, China. The proven ANDRITZ P-RC APMP (Pre-Conditioning Refiner Chemical Alkaline Peroxide Mechanical Pulp) line features a capacity of 600 admt/d and processes eucalyptus wood chips as raw material to produce high-quality pulp for the production of printing and writing paper. It is now the sixth P-RC APMP line to be delivered to the Sun Paper Group by ANDRITZ.
The sharp rise in gas and electricity prices has a direct impact on our manufacturing costs and profitability. Due to this extraordinary situation, an energy cost surcharge is unfortunately unavoidable. We will therefore impose an energy cost surcharge of up to EUR 10/100kg in all our product segments. This will apply to all deliveries from December 1, 2021, and until further notice.
The new Adestor catalog contains the entire range of self-adhesive facestock available in sheets from Lecta. It also exclusively presents its latest products: *Adestor Laid White WS and Adestor Kraft Brown 70 textured sheets for labels with an artisanal look; *Adestor PET Laser Matt White facestock for applications that require high resistance to fluctuating temperatures, water or chemical products; *Adestor Stonepaper® 144 DfE facestock, Cradle2Cradle Silver certified and even more sustainable as it's made from recycled polyethylene and mineral powder. Plus, the new catalog includes our entire traditional offset printing range and our specialty SRA3 range in 32*45 format for digital printing, indicating each sheet's compatibility with the different offset print systems.
UPM has been listed in the Dow Jones European and World Sustainability Indices (DJSI) for 2021-2022 as the only company in its industry. The DJSI indices cover environmental, social and governance aspects of responsibility. “We are delighted and proud that our consistent commitment to sustainability has been recognised in this index for a decade,” says Sami Lundgren, Vice President, UPM Responsibility. “We congratulate UPM for being included in the Dow Jones European and World Sustainability Indices. DJSI distinction is a reflection of being a sustainability leader in your industry. The record number of companies participating in the 2021 S&P Global Corporate Sustainability Assessment is a testament to the growing movement for ESG disclosure and transparency,” says Manjit Jus, Global Head of ESG Research, S&P Global.
The U.S. Postal Service reported service delivery performance scores showing First-Class Mail and Periodicals continuing to climb through the first five weeks of the fiscal first quarter. With fiscal year 2021 fourth quarter and fiscal year 2022 first quarter-to-date service performance scores above 92 percent, the Postal Service enters the holiday shipping season in the best service performance condition ever measured for Marketing Mail. First quarter-to-date service performance scores covering the period Oct. 1 through Nov. 5 included: *First-Class Mail: 91.2 percent of First-Class Mail delivered on time against the USPS service standard, an improvement of 3.2 percentage points from the fourth quarter. *Marketing Mail: 92.3 percent of Marketing Mail delivered on time against the USPS service standard, a slight decrease of .3 percentage points from the fourth quarter. *Periodicals: 82.9 percent of Periodicals delivered on time against the USPS service standard, an improvement of .8 percentage points from the fourth quarter.
FSC welcomed these new certificate holders to the FSC community: *Calumet Carton, Inc. is a manufacturer of paperboard mailers and folding cartons. *Ignite Graphics LLC is a single-source marketing provider with in-house manufacturing, including print, mail, bindery, packaging, and fulfillment. *American Carton Company is an independent, full-service folding carton company. *Polyconcept North America Inc. is a promotional product supplier. *SW SAFETY SOLUTIONS INC. is a safety equipment supplier. *Broekhof USA is a global supplier of packaging and decorative material for the flower and plant industry. *Flushd, Inc (featured) sells bamboo toilet paper. *MiniFibers, Inc produces multifilament yarns from a variety of polymers. *Nature Coatings, Inc. transforms wood waste into high performing black pigments. *Prugent America LLC is a furniture manufacturer. *Color Carton Corporation is a manufacturer of folded carton, note pads, and corrugated paperboard. *Eventscape A+D, Inc. is an architectural millworker. *Blue Lake Packaging, Inc. is a distributor of regenerated cellulose film, corrugated and cardboard packaging, adhesive labels, and file folders. *Capri Cork, LLC DBA Lititiz Flooring Company is a cork flooring distributor. *All Star Millwork LLC is an architectural millworker.
Supremex Inc. a leading North American manufacturer and marketer of envelopes and a growing provider of paper-based packaging solutions, announced its results for the third quarter ended September 30, 2021. Third Quarter Financial Highlights and Recent Events * Total revenue increased by 9.9% to $54.8 million, from $49.9 million in the third quarter of 2020. * Envelope segment revenue was up 8.5% to $37.0 million, from $34.1 million in the third quarter of 2020. Packaging and specialty products segment revenue increased by 12.8% to $17.8 million, from $15.8 million in the third quarter of 2020. * Net Earnings at $3.4 million (or $0.12 per share), up from $2.7 million (or $0.10 per share) in the third quarter of 2020. * Purchased 292,400 shares for total consideration of $0.7 million as part of the Company’s NCIB program.
Metsä Board, part of Metsä Group, has won both the Finnish Circular Economy Award and the Finnish Quality Award in the Laatukeskus Excellence Finland assessment. The circular economy prize was awarded for the first time this year. Both the Quality Award and the Circular Economy Award are based on the international EFQM (European Foundation for Quality Management) model. The jury of the Circular Economy Award stated that the operations of Metsä Board are clearly outlined, with a systematic approach to defining the company’s direction, implementing its strategy and monitoring and reporting on its performance. This was considered a sign of excellent performance and good business practice, as well as strengthening a company’s competitiveness from the perspective of a circular economy.
Can Manufacturers Institute (CMI) beverage can manufacturer and aluminum can sheet producer members are committing to achieving ambitious U.S. recycling rate targets including a 70 percent recycling rate by 2030. These new targets will improve the circularity of the aluminum beverage can while demonstrating to beverage companies and consumers the industry’s dedication to ensuring the aluminum beverage can remains the most sustainable package on the market. The targets are being set through CMI, which represents U.S. metal can manufacturers and their suppliers. The aluminum beverage can recycling rate was 45 percent in 2020, and the industry aims to attain even higher recycling rates beyond 2030 with an 80 percent rate by 2040 and more than 90 percent by 2050. CMI members are committed to more aluminum beverage cans completing the circular journey into new cans. There are nearly 90,000 aluminum beverage cans recycled every minute in the United States, with 93 percent going from the recycling bin back to store shelf as a new can in as little as 60 days.
Third Quarter 2021 Highlights (as compared to third quarter 2020): • Revenue increased 22.5% to $395.6 million primarily due to the impact of higher selling prices in tape, film, woven, and protective packaging products driven by increases in the cost of many raw materials and freight. • Gross margin decreased to 22.0% from 26.0% primarily due to the impact of maintaining dollar spread on higher average selling prices and increased plant operating costs, partially offset by a favourable product volume/mix. • Net earnings attributable to the Company shareholders ("IPG Net Earnings") decreased $1.4 million to $25.3 million ($0.43 basic and $0.42 diluted earnings per share) primarily due to an increase in selling, general and administrative expenses ("SG&A") resulting from an increase in employee- and technology-related costs mainly due to the growth of the business in 2021 and the non-recurrence of cost saving measures implemented in response to COVID-19 related uncertainty in 2020. This unfavourable impact was partially offset by an increase in gross profit.
KPLP Q3 2021 Business and Financial Highlights • Revenue increased by $22.3 million or 6.0% to $391.4 million in Q3 2021 compared to $369.1 million in Q3 2020. • Adjusted EBITDA was $40.3 million in Q3 2021 compared to $46.2 million in Q3 2020, a decrease of 12.8%, and improved sequentially from $37.3 million in Q2 2021. • TAD Sherbrooke continues to run above the expected start-up curve. • Declared a quarterly dividend of $0.18 per share to be paid on January 17, 2022
Neenah, a leading global manufacturer of latex-saturated and coated papers used in abrasive products worldwide, introduces DURAFLAT® Fibre Grinding Disc Backing, an alternative to traditional vulcanized fibre discs, to the marketplace. DURAFLAT Fibre offers better dimensional stability to reduce curl, improved efficiencies, lower costs, and flatter discs that enhance grinding execution and reduce bursting in packaging on the shelf. “Over the last 60 years, Neenah has designed over 180 paper-based abrasive backers for various end-use applications. In DURAFLAT Fibre, we wanted to create a competitive, high-performance alternative for the growing number of our customers looking to reduce dependency on vulcanized fibre discs,” says Valerie Henderson, Abrasive Backings Product Manager for Neenah. DURAFLAT Fibre effectively resists humidity and will not curl like traditional vulcanized fibre discs. As a result, abrasives manufacturers and end-users get a product that increases functionality and effectiveness. Neenah also differentiates by offering custom design support, a range of weights, and unlimited colors for a tailor-made brand experience.
Financial summary for the quarter and full year • EBITDA excluding special items o For the quarter US$177 million (Q4 FY20 US$82 million) o For the year US$532 million (FY20 US$378 million) • Profit for the period o For the quarter US$35 million (Q4 FY20 loss of US$88 million) o For the year US$13 million (FY20 loss of US$135 million)
Koehler Paper’s Technical Customer Service tested the TM‐T88VI receipt printer comprehensively for months. – With success! Because: The sustainable, blue Blue4est® thermal paper by Koehler Paper gets first‐rate results on Epson TM‐T88VI receipt printer. Blue4est® represents the latest generation of environmentally friendly receipts and, unlike the traditional receipts used at POS, can be disposed of as wastepaper without a problem. In addition, its blue color makes Blue4est® thermal paper immediately recognizable as environmentally friendly for consumers. Low power consumption and high performance combined with low operating costs make the Epson TM‐T88VI receipt printer an environmentally friendly alternative for the POS receipt printer market, and together with Blue4est® paper, a sustainable POS printing solution.
National Average Price for Regular Unleaded Current: $3.416; Month Ago: $3.279; Year Ago: $2.126. National Average Price for Diesel Current: $3.644; Month Ago: $3.480; Year Ago: $2.377.
American Dollar to Canadian Dollar = 0.794324; American Dollar to Chinese Yuan = 0.156725; American Dollar to Euro = 1.144867; American Dollar to Japanese Yen = 0.008771; American Dollar to Mexican Peso = 0.048397.
Third-Quarter Highlights: *Third-quarter net income of $92 million ($2.09 per pro forma share1) compared with $115 million ($2.61 per pro forma share) in the second quarter of 2021 and $51 million ($1.16 per pro forma share) in the third quarter of 2020. Third-Quarter Commercial and Operational Highlights: *Price and mix improved by $30 million versus the prior quarter and volume improved by $12 million *Operations improved by $10 million and total planned maintenance outage expenses declined by $27 million versus the second quarter *Input costs increased by $26 million, reflecting higher costs for wood, energy, chemicals, packaging and distribution
With paper production capacity of 1.1 million tons and pulp production capacity of 600,000 tons, Pixelle Specialty Solutions is the largest and fastest growing specialty papers manufacturer in North America. The company operates four paper mills in Maine, Ohio, Pennsylvania and Wisconsin, as well as a coating and converting plant in Ohio. Pixelle’s broad portfolio of products includes inkjet papers used for wide-ranging applications, from home office and desktop printing to book publishing, billboards and wide-format printing; label stock used for cut-and-stack labels, beverage labels and thermal transfer/direct thermal labels; label and release liners; food packaging papers; bag papers; and paper for cups, straws and lids. Pixelle is a long-time member of Two Sides and an enthusiastic supporter of Two Sides’ mission to tell the great sustainability story of print, paper and paper-based packaging. “The paper and packaging sustainability story needs to reach new audiences, and Two Sides has a track record of doing just that,” says Pixelle Senior Vice President of Sales and Marketing Dave Dickerhoof. “Whether it’s fighting misleading claims about our industry’s environmental impact or working with organizations and consumers to better understand the sustainability of print, paper and fiber-based packaging, we appreciate the value Two Sides creates for its membership and for the packaging industry as a whole.”
Sales of $1,030 million (compared with $956 million in Q2 2021 (+8%) and $1,014 million in Q3 2020 (+2%)) *Operating income of $73 million (compared with $23 million in Q2 2021 (+217%) and $54 million in Q3 2020 (+35%)) *Net earnings per common share of $0.32 (compared with $0.02 in Q2 2021 and $0.51 in Q3 2020)
The U.S. Postal Service filed notice with the Postal Regulatory Commission (PRC) today of price changes for Shipping Services to take effect Jan. 9, 2022. The proposed prices, approved by the Postal Service Governors, would raise Shipping Services product prices approximately 3.1 percent for Priority Mail service, and 3.1 percent for Priority Mail Express service. Shipping Services price adjustments vary by product. Although Mailing Services price increases are based on the consumer price index, Shipping Services prices are primarily adjusted according to market conditions. The Governors believe these new rates will keep the Postal Service competitive while providing the agency with needed revenue. If favorably reviewed by the PRC, the new prices will include an increase in the price of a Small Flat-Rate Box to $9.45. The Medium Flat-Rate Box would increase to $16.10, the Large Flat-Rate Box would decrease to $21.50 and the price of the APO/FPO Large Flat-Rate Box would decrease to $20.00. Regular Flat-Rate Envelopes, Legal Flat-Rate Envelopes, and Padded Flat-Rate Envelopes would increase to $8.95, $9.25, and $9.65 respectively.
For the Three Months Ended October 2, 2021 -Net sales increased 23% to $362.6 million, compared to $294.6 million during the same period last year. -Gross profit increased 19% to $207.0 million, or 57.1% of net sales, compared to $174.0 million, or 59.1% of net sales, in the third quarter of 2020. The 200 basis point decrease in gross margin was primarily driven by higher inbound freight rates and the unfavorable impact of the non-renewal of the Global System of Preferences (“GSP”) program on import duties, partially offset by product cost improvements and all other impacts. -Operating income decreased 2% to $68.7 million, or 19.0% of net sales, compared to $70.1 million, or 23.8% of net sales, during the prior year quarter due to the aforementioned lower spending levels in 2020.
The Association of American Publishers (AAP) today released its StatShot report for August 2021 reflecting reported revenue for all tracked categories, including Trade (Consumer Books), K-12 Instructional Materials, Higher Education Course Materials, and Professional Publishing. Total revenues across all categories for August 2021 were up 9.8% as compared to August 2020, coming in at $1.95 billion. Year to date revenues were up 14.4%, at $9.9 billion for the first eight months of the year.
Consumer expectations regarding personalized content and experiences have significantly increased in recent years -- as have their expectations for immediacy and choice. Consumers expect personalized experiences, and marketers seek meaningful customer interactions. At the same time, according to the 2021 Edelman Trust Barometer, trust and data privacy are becoming a major consideration. Addressing this new aspect of competition, Bertelsmann is leveraging data and AI to deliver personalized, brand-safe content as well as tailored and efficient learning experiences, ultimately lowering costs to consumers and business partners alike. This follows a strategic mandate by Bertelsmann’s Executive Board to magnify efforts in technology and data-driven business models, setting a clear agenda as Tech & Data Alliance to drive partnerships, build platforms and connect people and skills throughout the group. Microsoft, with its deep expertise in cloud-based computing, artificial intelligence (AI), and platform development, will support Bertelsmann to power this new generation of data-driven models, bringing even better value, experiences, and products to Bertelsmann’s customers, both in business-to-business as well as consumer-facing offerings.
Greenwashing is high on the agenda for organisations and campaigners keen to stop companies making false claims about their eco-credentials. Discover how the CMA and Two Sides are tackling this costly business tactic. The COP26 conference in Glasgow has highlighted many things about the climate emergency, not least the lack of time the planet has before it reaches the environmental point of no return. But one aspect of tackling climate change that’s been brought to the attention of the wider public is Greenwashing – the act of companies making promises to help the environment while continuing to harm it. The ease with which companies can make uncontested claims about their green credentials was highlighted by an entirely fake private jet company being accepted as an official member of two different UN carbon reduction initiatives that also included Heathrow and BAE Systems.
Eco-Products® announced that it has earned the coveted GreenScreen Certified™ Silver designation for its groundbreaking line of compostable plates and containers made from sugarcane. Called VanguardTM, the award-winning line uses a proprietary chemistry to achieve grease resistance without the use of PFAS, a class of materials sometimes referred to as “forever chemicals.” In addition, GreenScreen Certified products do not contain other chemicals of high concern or known regrettable substitutes.
R.R. Donnelley & Sons Company announced the relaunch of its suite of global creative services under a new name: Alchemy by RRD℠. This relaunch aims to reinforce RRD’s commitment to elevating brand experiences through its creative augmentation and customized brand activation services. As one of three pillars that make up RRD GO Creative℠, Alchemy by RRD is a global creative studio and branding partner that can provide localized, personalized content and design across all touchpoints. The remaining pillars that form RRD GO Creative are Smart Work Solutions (AI-enabled solutions to digitize business processes) and The_Loft@RRD (a collaborative, data-driven innovation hub to advance long-term strategies). The creative solutions and services that make up Alchemy by RRD include: Branding execution and adaptation; Video and motion graphics; Strategic content development and editorial services; Web and microsite design and development; Digital marketing and marketing automation; Immersive and interactive experiences; E-learning services; Accessibility
The Hämeenkyrön Voima power plant, from which Metsä Board's Kyro mill buys energy, has replaced the peat it burns with renewable energy. In the future, the power plant aims to use wood-based fuels from Metsä Group's production and wood procurement by-products. By not burning peat, Metsä Board Kyro's share of fossil fuels in total fuel demand will be reduced from just over a quarter to about a tenth. The phase-out of peat has required significant investments in power plant technology to control boiler corrosion damage and optimise running conditions. Previously approximately one fifth of the fuel used by the plant has been peat. Thanks to the investments, the energy and local district heat from the mill will be produced in a more environmentally friendly way. Metsä Board, part of Metsä Group, targets to achieve fossil-free production and products by the end of 2030. Moving away from peat-based energy will help Metsä Board towards these goals.
Notable items in the fourth quarter include: *Record net sales of $5.1 billion increased 14% compared to $4.5 billion in the prior year quarter *Net income of $324 million compared to a net loss of $1,156 million in the prior year quarter, which included a $1,314 million goodwill impairment net of tax. Full Year 2021 Highlights: *Record net sales of $18.7 billion increased 7% compared to $17.6 billion in the prior year *Net income of $838 million compared to a net loss of $691 million in the prior year *Generated net cash provided by operating activities of $2.28 billion and record Adjusted Free Cash Flow of $1.49 billion; ended the year with a net leverage ratio of 2.38x
If your business prints catalogs, you are keenly aware of the paper shortages and subsequent price increases we’ve experienced so far this year. It’s not over, the mills continue to be on “allocation” through the end of this year and likely into next. What does allocation mean anyway? Simply put, it means the demand for paper is at the mills’ capacity, so they are allocating the amounts that buyers (like printers, paper brokers and catalogers) can purchase. But more importantly, what can you do about it? Get ahead of the pack by placing your orders much, much earlier than you have in the past. click read more below for details
The European Federation of Corrugated Board Manufacturers (FEFCO) has issued the Corrugated Packaging Recyclability Guidelines – design for circularity. With the aim to contribute to the sustainability of packaging, the guidelines provide the industry with a practical set of tools to implement in the recycling of paper and board to ensure the optimal use of natural resources and minimise their environmental impact. The circular economy needs recycling, waste prevention and re-use to keep materials in the loop and minimise the use of resources. Paper and board are a sustainable, renewable and ecologically sound choice for packaging. In practice, the recyclability of packaging products will be determined by composition. This all starts with their design, followed by the way they are collected, sorted, and presented for reprocessing.
Sonoco announced it has acquired the assets of D&W Paper Tubes, Inc., a Chatsworth, GA-based manufacturer of sustainable industrial paper tubes and cores. Founded in 2000, D&W is a family-owned company that produces 100-pe rcent recycled paperboard convolute tubes, spiral-wound cores and yarn tubes primarily serving the carpet and textile industry from operations at its Chatsworth facility. The company expects to produce approximately $18 million in sales in 2021. “D&W is complementary to our Industrial Paper Packaging segment and further strengthens our position serving the carpet and textile market in Northeast Georgia. In addition to acquiring an attractive book of business, we expect to drive meaningful business synergies from our integrated industrial products operations in the Southeast,” said Howard Coker, Sonoco President and Chief Executive Officer.
Ardagh Metal Packaging and Crown Holdings funded a new aluminum can capture grant awarded to a recycling facility jointly owned by City of Milwaukee and Waukesha County to install equipment that will capture crushed or flattened cans missorted into the material destined for the landfill. Once installed in the recycling sortation facility, this equipment will result in more than 27 million more aluminum beverage cans captured annually. When more than 27 million additional cans are captured and recycled each year at this one facility, it will generate more than $400,000 in new annual revenue and produce enough energy savings each year to power more than 10 million U.S. homes for one hour. Further, the carbon dioxide equivalent emissions avoided each year will be the same as is generated from an average passenger vehicle driving nearly 7 million miles, which is the distance from New York to San Francisco almost 2,300 times.
International technology group ANDRITZ has received an order from the Brazilian pulp producer Suzano to deliver state-of-the-art and resource-efficient technologies for all main process islands in the fiber production and chemical recovery plant, for its Cerrado project in the municipality of Ribas do Rio Pardo, state of Mato Grosso do Sul, Brazil. Start-up is scheduled for the second half of 2024. With an annual production capacity of 2.55 million tons, Cerrado will be the world’s largest plant with a single eucalyptus pulp production line. Civil construction, installation, commissioning, and start-up services are also included in the ANDRITZ scope of supply. With this order, ANDRITZ is once again demonstrating its strong global position in the supply of state-of-the-art and environmentally friendly chemical pulp mill technologies on EPCC basis. The proven process technology from ANDRITZ will strongly support Suzano in reaching their financial and sustainability goals.
BillerudKorsnäs, one of the leading global packaging companies, has partnered with Oatly, the world’s original and largest oat drink company, to develop innovative packaging solutions for Oatly’s Singapore produced products. Oatly recently opened its first production facility in Asia to supply the nearby markets as part of the company’s global expansion. Products produced in the factory will be packed in boxes and transported on pallets during demanding climate conditions offering hot and humid weather which generates challenging logistics chains. The conventional packaging solution to manage high humidity is adding additional material for sturdier packaging. But the team at BillerudKorsnäs BoxLab found a different solution to ensure enhanced sustainability performance while maintaining the high quality standards of Oatly’s secondary packaging. This innovative solution is based on the following principles: *Minimizing damage and waste throughout the logistics chain *Focus on resource efficiency – using as little material as possible and minimize water usage *Use packaging material that is recyclable and comes from renewable sources *Transparency throughout the value chain securing renewable energy sources
A national initiative of Keep America Beautiful, America Recycles Day is celebrated on November 15 to educate individuals on the importance of recycling. As a company that manufactures 100% recycled containerboard that is used to produce our sustainable packaging solutions, Pratt Industries celebrates America Recycles Day in order to bring attention to recycling and its many benefits. Our mission for this day is to educate and empower Americans to recycle and buy recycled products. Recycling has many benefits, including: *Helps reduce consumption of finite resources *Supports reduction of waste that would normally be sent to landfills *Helps minimize pollution that comes from the mining of new materials *Products made from recyclable materials can help reduce energy consumption *Creates economic security and jobs to support the recycling-based sectors
Third quarter 2021 net income from continuing operations was $6.2 million (0.19 per diluted share) compared to net loss from continuing operations of $17.0 million ($0.51 per diluted share) in the third quarter of 2020. Net income from ongoing operations, which excludes special items and discontinued operations, was $7.2 million ($0.22 per diluted share) in the third quarter of 2021 compared with $13.2 million ($0.39 per diluted share) in the third quarter of 2020. John Steitz, Tredegar’s president and chief executive officer said, “Bonnell Aluminum's production and sales continue to fall below robust demand and bookings due to a shortage of labor while backlog continues to grow. Price increases have helped keep pace with inflationary cost pressures.” Mr. Steitz also stated, “PE Films' profitability has been adversely impacted by previously disclosed customer product transitions and resin price increases. In addition, competitive pricing pressures are anticipated to further erode profitability by $6 million in 2022. PE Films is very focused on generating sales of new surface protection products, applications and customers and driving production efficiencies and cost savings.”
The Mayr-Melnhof Group (MM) has joined the global initiative “Business Ambition for 1.5 ° C” in order to use suitable measures to help limit global warming to 1.5 degrees. As part of this platform, which was launched by the UN Global Compact and the Science Based Targets Initiative (SBTi), MM is committed to setting science-based climate targets. These provide for net zero emissions in the entire value chain by 2050 at the latest. MM is thus increasing the pace of its engagement against climate change at the time of important global milestones such as the UN climate conference COP26. Peter Oswald, CEO of the MM Group: “MM is a sustainability company that is at the forefront of avoiding plastic waste with innovative recyclable packaging made from renewable raw materials. In addition, the reduction of greenhouse gas emissions to mitigate climate change is an integral and fixed part of our corporate strategy. That is why we set ourselves ambitious, science-based goals and take an active part in the Business Ambition for 1.5 ° C initiative in order to jointly promote climate-friendly economic activity. "
Copresco is upgrading its digital fleet with a second Konica-Minolta 6136P press to meet increased production demands and guarantees for fast turnaround and on-time delivery. The twin of the 6136P that was installed in late 2020 meets the same standards for Copresco’s high volume production and provides exceptional black & white print reproduction. “The people at Konica-Minolta are amazed by Copresco’s demanding quality standards and commitment to maintain our Copies Overnight promise of producing 250,000 pages overnight for any client,” says President Steve Johnson. “We have fine-tuned the new press to assure that our large-scale black & white printing matches Copresco’s award-winning color work.”
Ever passed a window that made you whip a u-ie, just to take a peek inside? Maybe you’ve snagged a bag of BOGO tortilla chips, ever-so thoughtfully placed in a display next to your usual salsa? Chances are, it’s happened more than once. From alluring window displays to the tiniest of shelf talkers, few elements deliver more impact for a brick-and-mortar locale than in-store signage. In a consumer study conducted by Brigham Young University, products with signs outsold products without signs by 18%. Think of it this way: Signage presents an opportunity to influence consumer behavior at the very moment it matters most – at the time of purchase. And with retail traffic up 44% since the beginning of 2021 (Forbes), it’s prime time to consider how you’re communicating with customers in store. What would Starbucks be without the iconic green mermaid? What would McDonalds be without the infamous, golden arch? These businesses are prime examples of how signage can work with key brand assets to build recognizable spaces, displays and products. Even when the logo appears on a sign without the business name, we still know precisely which brand it refers to. Incorporating custom signage that serves as an extension of your brand (through consistent use of color, fonts, and imagery) builds brand awareness. The more recognizable your brand is, the more it stands out amongst competitors, and the higher the likelihood it stays top of mind at purchase time.
Interfor Corporation recorded Net earnings in Q3’21 of $65.6 million, or $1.05 per share, compared to $419.2 million, or $6.45 per share in Q2’21 and $121.6 million, or $1.81 per share in Q3’20. Adjusted net earnings in Q3’21 were $46.7 million compared to $433.5 million in Q2’21 and $140.0 million in Q3’20. Notable items in the quarter: • Record Production and Shipments • Strong Free Cash Flow Generation • Strategic Capital Investments • Acquisition of Four US Sawmills and Restart of the DeQuincy, LA Operation • Sale of Former Sawmill Property • Softwood Lumber Duties
Sustana Fiber, a leading manufacturer of premium, sustainable recycled fiber has been awarded 2021 Sustainable Business Product of the Year for EnviroLife® by the Wisconsin Sustainable Business Council. The company’s premium product, EnviroLife® is a 100% sustainable recycled fiber manufactured in DePere, WI compliant with FDA standards for use in a wide variety of foodservice packagings, such as paper cups, sandwich wraps, bags, to-go containers, and paperboard packaging. The Sustainable Business Awards presented by the Wisconsin Sustainable Business Council recognize businesses and individuals who prioritize sustainability and are making strides towards impactful change in Wisconsin. The winners of these awards demonstrate leadership, initiative, innovation, and are making measurable improvements and positive impacts. At Sustana Fiber, we believe in responsible manufacturing and being good stewards of the valuable resources that benefit people, drive the economy and belong to everyone. Stewardship is about keeping materials out of landfills and toxins out of the air; using only what we need as efficiently as we can. We apply that principle to every point in the sustainability journey.
Third Quarter 2021 Highlights: • Net sales of $339 million, an 11% increase over third quarter 2020 and a 3% increase over second quarter 2021 • Net income of $58 million compared to a net loss of $31 million in third quarter 2020 and net income of $16 million in second quarter 2021 • $286 million in available liquidity including $166 million in cash • Returned $14 million in capital to shareholders in repurchases and quarterly dividends
First quarter-to-date service performance scores covering the period Oct. 1 through Oct. 29 included: *First-Class Mail: 91.1 percent of First-Class Mail delivered on time against the USPS service standard, an improvement of 3.1 percentage points from the fourth quarter. *Marketing Mail: 92.2 percent of Marketing Mail delivered on time against the USPS service standard, a slight decrease of .3 percentage points from the fourth quarter. *Periodicals: 83.3 percent of Periodicals delivered on time against the USPS service standard, an improvement of 1.2 percentage points from the fourth quarter.
Third Quarter 2021 Financial Highlights: • Total revenues of $800.2 million decreased 1.8% compared to the prior year quarter ◦ Same store revenues increased 0.9% compared to the third quarter of 2020 • Total digital revenues were $265.0 million or 33.1% of total revenues, up 17.8% over the prior year period on a same store basis • Net income attributable to Gannett of $14.7 million • Net cash flow provided by operating activities of $40.8 million • Free cash flow of $29.3 million
Sweeping new rules governing debt collection practices in the U.S. will go into effect on November 30. Unfortunately, many of the very serious concerns about the use of electronic communications for debt collection raised by citizens, cybersecurity experts and consumer advocacy groups including Keep Me Posted (KMP) were effectively ignored by the Consumer Financial Protection Bureau (CFPB), the federal agency charged with making sure banks, lenders and other financial companies treat consumers fairly. The widespread impacts of CFPB’s new rules cannot be underestimated: Nearly 70 million Americans now have a debt in collection. That staggering number translates to nearly one in three adults with a credit report being pursued during the pandemic, according to analysis from the Urban Institute. What’s more, even consumers with debts that are beyond the statute of limitations can still be pursued under the rules. Even those with no credit worries need to beware: Scammers are already using unsolicited electronic communications to perpetrate fraud, using debt collection as a pretext. click read more below for more information
Fiscal 2022 First Quarter Key Financial Highlights: *Revenues were $2.50 billion, an 18% increase compared to $2.12 billion in the prior year, driven by growth across key segments *Net income of $267 million compared to $47 million in the prior year *Total Segment EBITDA was $410 million compared to $268 million in the prior year *Reported EPS were $0.33 compared to $0.06 in the prior year – Adjusted EPS were $0.23 compared to $0.08 in the prior year *Digital Real Estate Services segment revenues grew 47%, driven primarily by strong yield and demand at both REA Group and Move, operator of realtor.com® *Dow Jones saw its highest first quarter revenue and profitability since its acquisition *Book Publishing segment revenues grew 19%, benefiting from the HMH acquisition and continued strong consumption patterns *Subscription Video Services Segment EBITDA grew 46% as Foxtel’s streaming products reached approximately 2.1 million paid subscribers, up 69% compared to the prior year *News Media segment revenues grew 18%, benefiting from the rebound in the advertising market, strong digital subscriber gains and new content licensing revenues from recent news payment agreements with major tech platforms *Announced a $1 billion stock repurchase program and the termination of the Stockholder Rights Agreement
HH Global is proud to announce that we have recently sponsored POPAIs latest innovative research into the recycling of POSM displays and secondary packaging in the UK and Ireland marketplace - and the findings are startling. This piece of research delivers dramatically contrasting messages: 88% of the brands and retailers questioned considered recyclability an important topic, yet 35% do not have any measurable recycling targets for display material and packaging. It goes on to outline how, historically, very little attention has been paid to the recyclability of POSM displays in comparison to primary packaging. Subsequently, approaches to recycling are fragmented and there remains a real need for consolidation of efforts across the board. The research also details the integral role which suppliers and integrators like HH Global play to help ensure that POSM is designed with sustainability and end-of-life in mind. The top two suggestions for improvement of recycling were more recycling instructions on displays (65%) and stronger design guidelines (57%). Therefore it is clear that the importance of recycling instructions which are available, consistent and simplistic, is paramount.
Mondi commissioned a life cycle assessment (LCA) comparing its new ground-breaking paper pallet wrapping innovation, Advantage StretchWrap, with conventional plastic stretch film wrapping. The full study was conducted by an external consultancy, is ISO-compliant and includes an external critical review. Based on the assumption that both materials are recycled at the end-of-life, the findings showed that the paper-based pallet wrapping by Mondi has a lower climate impact as one of the LCA indicators. The basis of comparison is the potential environmental impacts arising from wrapping one pallet. The LCA examined 16 indicators to understand potential trade-offs between the two materials. It covers all relevant life cycle stages, from raw material extraction, production, up to the application on a pallet at the customer. In addition, the impact of the end-of-life stage is assessed. The LCA found that Advantage StretchWrap has 62% lower greenhouse gas (GHG) emissions when compared to virgin plastic stretch film, and 49% lower GHG emissions when compared to plastic stretch film made with 50% recycled content. Advantage StretchWrap has a lower environmental impact than plastic in a number of categories including climate change and fossil resource use. The plastic stretch film did perform better in some indicators, such as land use and freshwater eutrophication.
National Average Price for Regular Unleaded Current: $3.421; Month Ago: $3.204; Year Ago: $2.117. National Average Price for Diesel Current: $3.641; Month Ago: $3.365; Year Ago: $2.363.
American Dollar to Canadian Dollar = 0.801619; American Dollar to Chinese Yuan = 0.156162; American Dollar to Euro = 1.153148; American Dollar to Japanese Yen = 0.008782; American Dollar to Mexican Peso = 0.048496.
The supply crunch that has dogged the global shipping industry could worsen before it gets better, with new challenges ranging from crew retention to wage inflation. That’s a warning from executives at Wah Kwong Maritime Transport, a privately owned shipping company based in Hong Kong. They caution that contrasting approaches to containing the virus continues to disrupt the turnover and repatriation of seafarers landing at ports around the world. “There’s a real squeeze that we’re starting to see in terms of the disappearing applications for seafarers,” William Fairclough, managing director at Wah Kwong, said in an interview. “For certain types of ships, it may become very difficult to actually find the crew and you may get delays because of that. That’s conceivable, it’s never been the case before.”
Dear Industry Member: If you tuned into the postal-focused session on Oct. 7th during our 14th Annual National Forum, you heard former Rep. Kevin Yoder (R-KS) discussing his involvement in the new Keep US Posted campaign, which was cofounded by the ACMA, the Greeting Card Association and other industry groups. Today, I'm writing you to encourage you to also become involved with this vital effort. The goal of this campaign is to protect the long-term interests of vital market dominant mail interests, including catalogs, first-class letters, cards, periodicals - all mail that's protected by the postal monopoly. When the USPS announced its Delivering For America plan this past March, it made pretty clear that the core of its future would be in parcels rather than market dominant mail. Keep Us Posted was subsequently formed to ensure our mail has a future. Our Goals & Ask: This is not a fundraiser. If your future is to continue to be in the mail via catalogs or types of mail, we're just seeking the following: • For starters, please look over the Keep US Posted website then click this link and enter your information to add your organization to the list of campaign supporters. • Follow Keep US Posted on Facebook and Twitter, and share/retweet our content. Additionally, text the word “mail” to 52886 and tap the link to join as a consumer supporter. Share the Keep US Posted logo (click here) when you do this. • Share the site and Keep US Posted messaging on your LinkedIn feed with this suggested text: “I am proud to support Keep US Posted (www.keepUSposted.org). This new campaign is dedicated to amplifying our voices as we speak out against delays, postage hikes and other threats to businesses, consumers and the entire mail system. Collectively, we can make a difference. Join us. #keepUSposted." • For the near term, the campaign is pre-funded. What we need from you now is to agree to have your company name listed as a supporter and lend your voice, not your money. Simply click here to join. A member of the Keep US Posted leadership team will be in touch with further information. • Be willing to be our point of contact to engage in activities when called on and participate whenever possible. These include social media engagement, encouraging your suppliers and other colleagues to get involved and join in campaign grassroots outreach to Congress.
*Revenue for the third quarter was $92.6 million higher than the previous year. Not including the First American acquisition, which closed on June 1, 2021, revenue increased $10.1 million, or 2.3% year-over-year. *The Payments segment delivered revenue growth of 114.6% over the previous year to $160.3 million, $82.5 million of which was from First American. *Net income of $12.5 million includes $11.9 million in acquisition amortization from the First American acquisition, as well as increased interest expense associated with the transaction. *Cash flow from operations for the third quarter was $65.4 million and capital expenditures were $34.5 million. Free cash flow, defined as cash provided by operating activities less capital expenditures, was $30.9 million, an increase of $11.6 million from the second quarter of 2021, and a decrease of $10.7 million compared to the third quarter of 2020, largely attributable to capital investments this year. *Total debt outstanding decreased from $1,833.4 million as of June 30, 2021 to $1,776.2 million as of September 30, 2021. Net debt was $1,655.1 million and liquidity was $433.6 million as of September 30, 2021.
The company reported operating income of $102 million in the quarter, compared to $406 million in the second quarter of 2021. The $304 million variation reflects lower realized prices and shipments in wood products ($342 million), partly offset by higher realized prices in the pulp and paper segments ($32 million), and higher volume in market pulp ($9 million). The wood products segment generated operating income of $64 million in the quarter, a decrease of $341 million from the previous quarter. With benchmark lumber prices falling from the record highs attained in May, the average transaction price fell to $573 per thousand board feet, a $583 per thousand board feet, or 50%, decrease from the previous quarter. The company generated operating income of $46 million in the market pulp segment, an increase of $16 million from the previous quarter. The average transaction price increased by $39 per metric ton, or 5%, to $826 per metric ton, with gains in all grades. The tissue segment incurred an operating loss of $9 million in the quarter, $2 million wider than the previous quarter. The average transaction price decreased by $60 per short ton, or 3%, due to unfavorable product mix, while delivered costs decreased by $109 per short ton, or 5%, with less downtime than in the previous quarter. The company generated an operating income of $16 million in the paper segment in the quarter, an increase of $23 million from the previous quarter. The average transaction price rose by $54 per metric ton, or 9%, with price recovery reflecting tightening global markets.
Costco Wholesale Corporation reported net sales of $16.47 billion for the retail month of October, the four weeks ended October 31, 2021, an increase of 19.2 percent from $13.82 billion last year. For the nine weeks ended October 31, 2021, the Company reported net sales of $35.97 billion, an increase of 17.3 percent from $30.66 billion last year.
Highlights from the divisions: RTL Group recorded 3.4 million paying subscribers for its streaming services (the paid offerings of RTL+ in Germany and Videoland in the Netherlands), an increase of 91 percent compared to the end of September 2020. Streaming revenues of RTL+ and Videoland increased by 31 percent compared to the same period last year. Penguin Random House placed numerous new titles on the New York Times bestseller lists in the first nine months of 2021, including “The Hill We Climb” and “Change Sings” by Amanda Gorman, “The President’s Daughter” by Bill Clinton and James Patterson, “Harlem Shuffle” by Colson Whitehead, and “How To Avoid A Climate Disaster” by Bill Gates. Gruner + Jahr and RTL Deutschland announced in August that they will be merging to form a new national cross-media champion. The new company launches at the beginning of next year. BMG continued with its successful repertoire strategy, signing global superstars including Bryan Adams, Santana, Soft Cell and Johnny Marr. In October, BMG announced the acquisition of an extensive portfolio of rights from Tina Turner, the Queen of Rock ‘n’ Roll. Arvato again saw a very dynamic development, particularly in the e-commerce, IT/tech and healthcare sectors. Beyond this, the private placement of shares in the global customer experience company Majorel on Euronext Amsterdam was a success.
Highlights from the quarter include: *Raising FY 2021 billings2 guidance to $1,075-$1,095 million, unlevered free cash flow guidance to 17-19% of billings and Annualized Recurring Revenue (ARR) 2 guidance to 12-15% of billings *Strong billings growth across the Company of 22% in Q3 and 21% YTD as demand for teaching and learning solutions continued as students returned to classrooms this fall and teachers further assessed instructional needs for the remainder of the school year *ARR2 growth accelerated to 123% bringing ARR to $120 million, or 11% of trailing twelve-month billings. Net Retention Rate (NRR)2 was 153% *Trailing twelve-month free cash flow3 of $137 million, an improvement of $36 million compared to the second quarter of 2021, reflecting strong operating leverage and the benefits of 2020 actions to align HMH’s cost structure with its digital first, connected strategy
Sun Chemical today announced an innovative new range of durable UV varnishes for enhancing the label resistance of HP Indigo digitally printed pressure-sensitive labels for products such as personal care, household, chemical, beverage, and pharma applications. The new range of varnishes was specifically formulated to provide adhesion to HP Indigo ElectroInk and has been designed to provide high levels of mechanical durability on HP Indigo printed labels. Furthermore, the solution delivers mechanical, chemical, water and thermal resistance withstanding vigorous bottle-to-bottle scuffing test, making the range the ideal choice for ensuring high durability, and in some instances offering a cost-effective and benefit from sustainability advantages alternative to cumbersome lamination processes. The new varnishes promote cross-linking with the HP Indigo ElectroInk and the primer layer to deliver improved physical properties and high durability in challenging applications. The new set of varnishes are a press-ready solution and do not require the addition of any press-side additives for ease of use. Ensuring consistent durable labels time after time, the range can be printed using standard UV coating equipment.
The Navigator Company announced today that it will increase tissue prices by 8 to 10% in the Iberian markets and above 10% outside Iberia. This increase will be effective for all dispatches from 1st of December. 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 very 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 world index for pulp increased, to this date, 78% since January. Electricity costs are 3,6 times higher than in 2020 in Portugal; natural gas is 5,8 times higher. Similar trend is verified across all European countries.
As world leaders gather in Glasgow this week, we are reminded that Canada’s forests give our country a powerful advantage that is the envy of most countries on the planet. Canada’s forests and the sustainably sourced products they provide are among the most powerful weapons in Canada’s climate change arsenal as we work to reduce emissions and store more carbon in the coming years. Canadian forestry is rooted in the principles of sustainability, biodiversity conservation, and supporting forest health and renewal. Our foresters have, for decades, acted as our first line of defense in managing these dynamic ecosystems and have long supported the need for action on climate change. Canada’s forest sector was one of the few industry groups that got behind The Kyoto Protocol in the late 90s. We were early adopters of industry targets to help Canada meet its Paris Agreement commitments, and we are currently finalizing an action plan to be the blueprint for how the sector will help Canada achieve a net-zero carbon economy by 2050. In fact, we believe we are one of the few industries in the country that can go beyond net-zero – and do it before 2050.
UPM Raflatac is leading the way by introducing a full range of paper label products made with 100% recycled fibers designed for food, retail and logistics labeling needs. The range includes the first commercially available Total Phenol Free thermal paper labels made with 100% recycled fibers. These labels are a good choice for logistics and retail labeling applications and contribute to the overall sustainability of the packaging. UPM Raflatac’s new product range offers brand owners a way to increase the share of recycled materials in their packaging. This reduces the pressure on forests and enables a circular economy. The range is FSC® certified and the labels maintain the same functionalities as label material made from virgin fibers. “The need to reduce waste and alleviate the pressure to virgin raw material sources is evident and increasing. One of the ways to achieve that is by recycled materials. We continue to lead the way in sustainable labeling as we introduce thermal paper labels with 100% recycled fibers to the market. Making the switch to these labels offers a host of sustainability benefits for both the brand owners and the environment,” says Ville Pollari, Director, Business Segment VIP & Prime, UPM Raflatac.
Hudson Printing of Salt Lake City, the high-quality commercial printing operation known for superior color reproduction, is now home to a new Landa S10P Nanographic Printing® Press. Installation is in progress. “Quality is paramount around here,” CEO Paul Hudson says. “Our customers will not compromise on color – it’s what we’re known for.” The Landa S10P’s unique, expanded color gamut; better economics; and higher productivity made Hudson’s decision to choose the S10P press a straightforward one. The 7-color Landa S10P will reproduce 96% of Pantone colors. “The S10P checked all of our boxes,” Paul Hudson says. “We needed the speed, the B1 format, and the best color available. Over time it became clear that Landa’s advantages are better by orders of magnitude.”
The New York Times Company announced third quarter 2021 diluted earnings per share from continuing operations of $.32 compared with $.20 in the same period of 2020. Adjusted diluted earnings per share from continuing operations (defined below) was $.23 in the third quarter of 2021 compared with $.22 in the third quarter of 2020. Operating profit increased to $49.0 million in the third quarter of 2021 from $39.6 million in the same period of 2020 and adjusted operating profit (defined below) increased to $65.1 million from $56.5 million in the prior year, as higher subscription, advertising and other revenues more than offset higher costs.
R.R. Donnelley & Sons Company announced that it has entered into a definitive merger agreement to be acquired by affiliates of Atlas Holdings LLC (“Atlas”), which operates a global family of manufacturing and distribution businesses, in an all-cash transaction with a total enterprise value of approximately $2.1 billion. The merger agreement has been unanimously approved by RRD’s board of directors. Under the terms of the merger agreement, Atlas will acquire all of the outstanding shares of RRD common stock, and RRD stockholders will receive $8.52 per share in cash for each share of RRD common stock. The purchase price represents a premium of approximately 29.1 percent over RRD’s closing price on November 2, 2021, approximately 72.8 percent over RRD’s closing share price on October 11, 2021, the last trading day prior to the announcement of a non-binding offer by Chatham Asset Management, LLC, and a premium of approximately 64.1 percent over RRD’s 60-day volume weighted average price for the period ended October 11, 2021.
Q3 Key messages *GAAP net sales, including the impact of foreign exchange, increased 6.4%; Non-GAAP organic net sales increased 5.5%; largely driven by strengthening demand for many of the Company’s products and services *GAAP and Non-GAAP income from operations exceeded prior year; both benefitted from higher sales and strong cost management despite supply chain challenges and inflation *GAAP operating margin improved 450 bps while Non-GAAP improved by 20 bps *GAAP earnings per share from continuing operations of $0.38 and Non-GAAP adjusted earnings per share from continuing operations of $0.57, both improved significantly from prior year *Cash used in operating activities during the nine months ended September 30, 2021 was $29 million compared to cash provided by operating activities of $25 million in the prior year period; current year results reflect working capital investments due to increased volume and inflation in addition to $33 million paid earlier this year to settle LSC bankruptcy-related claims and terminate certain interest rate swap agreements *Gross leverage ratio of 3.7x improved 1.0x from September 30, 2020; net leverage ratio of 3.2x improved 0.5x from the same period last year
Third Quarter 2021 Summary(1)(2)(4) *Total reported sales of $2.2 billion, down 7% versus last year, largely driven by 160 fewer retail locations in service compared to last year and lower demand year-over-year in certain product categories related to the COVID-19 pandemic *GAAP operating income of $104 million and net income from continuing operations of $73 million, or $1.33 per diluted share, versus $102 million and $34 million, or $0.63 per diluted share, respectively in the prior year *Operating cash flow from continuing operations of $121 million and adjusted free cash flow of $123 million, versus $256 million and $259 million, respectively in the prior year *$1.7 billion of total available liquidity including $753 million in cash and cash equivalents
Recent Highlights *Increased net sales by 4%, with 7% organic growth (excluding the divestiture of the Company’s third-party logistics business), from third quarter 2020 driven by higher print volumes, including print segment share gains from new clients, as well as a continued positive trend in Agency Solutions net sales. *Increased net earnings from continuing operations by $12 million to $14 million during the third quarter of 2021 as compared to 2020. *Achieved a 6% increase in Adjusted EBITDA to $64 million during the third quarter of 2021 as compared to 2020. *Reduced net debt by $140 million or 15% over the past 12 months. *Reaffirms full-year financial outlook for 2021 Net Sales, Adjusted EBITDA and Debt Leverage. *Amends and extends $1 billion bank debt agreement to November 2026.
America’s largest magazines retained 95% of their circulation through the Covid-19 crisis, Press Gazette research suggests. Strong print subscription bases and growing digital issue readership have helped the likes of Vanity Fair, Vogue and the New Yorker grow over the past year. Our analysis of Alliance for Audited Media (AAM) figures suggests that magazines have fared better than newspapers through the pandemic. Press Gazette’s ranking of the 50 biggest US magazines by circulation shows that print remains the sector’s dominant medium, despite subscription and single-copy sales falling in recent years.
Third Quarter Highlights: *Net income of $2 million, or $0.11 per diluted share *Reduced net debt by $7 million in the quarter and $32 million for the first nine months of 2021 *Closed Neenah, Wisconsin tissue facility *Completed planned major maintenance at Cypress Bend, Arkansas facility *Tissue demand recovery and paperboard price increases
Hearst announced it has agreed to acquire an 80% stake in leading connected vehicle solution provider Noregon Systems, Inc. The announcement was made jointly by Hearst President and Chief Executive Officer Steven R. Swartz and Noregon Systems founder and Chief Executive Officer Bill Hathaway. Hathaway will retain a 20% ownership stake in Noregon and continue to serve as its CEO. Terms were not disclosed and the transaction, subject to regulatory approval, is expected to close by end of Q4. “Bill Hathaway and his colleagues have built a great company that plays a vital and growing role in keeping the trucks on the road that power our economy,” said Swartz. “We look forward to partnering with Bill and his team and to welcoming them all to Hearst.” Noregon was founded by Hathaway in 1993 as a custom development solutions provider for leading OE manufacturers in the trucking industry. In 2007, the company launched its flagship commercial product, JPRO — an all-makes commercial vehicle diagnostic application. Since then, the company has continued to innovate beyond JPRO, offering a variety of connected vehicle products and services to the medium and heavy-duty truck industry. Currently, Noregon serves more than 15,000 customers in the U.S. and Canada.
In separate motions filed last month, Amazon and the Big Five publishers argued that a lawsuit accusing them of a conspiracy to fix e-book prices was “illogical” and should be dismissed. But in a lengthy opposition brief filed this week, lawyers for a potential consumer class portrayed their case as the second act of the Apple e-books case, and insisted there is more than enough evidence for the case to proceed. In the 56-page filing, lawyers for the plaintiffs insist that the existence of Most Favored Nation clauses in the Amazon contracts of the Big Five publishers—the crux of the plaintiffs' case—is sufficient to allow the case to proceed, especially given that the MFN is the same mechanism five major publishers and Apple used to eliminate price competition from the consumer e-book market in 2010.
SEE announced it has completed the sale of its Reflectix® business to an affiliate of Balcan Innovations. Under SEE’s ownership, Reflectix grew to become the largest brand of reflective insulation solutions serving construction, HVAC, and insulation applications for residential do-it-yourself and pro-channels. Reflectix’s products are widely distributed in North America through more than 3,500 dealer, distributor and retail locations. The transaction includes Reflectix manufacturing facilities in Markleville, Indiana, where they employ approximately 80 employees.
Highlights - Three Months Ended September 30, 2021: • GAAP Net Income of $202 million, up 2%; GAAP earnings per share (EPS) of 13.1 cents per share, up 4%; • Adjusted EBIT of $381 million, up 7% on a comparable constant currency basis; • Increased returns to shareholders: $64 million of shares repurchased and quarterly dividend increased to 12.0 cents per share; and
First Nine Months Overview: *Revenue growth year-on-year of 15% to €7,287 million *EBITDA growth year-on-year of 10% to €1,235 million with a margin of 17% *Third quarter EBITDA growth year-on-year of 16% to €454 million *Issued €1 billion in bonds under our Green Finance Framework
Transcontinental Inc. announced that it has acquired H.S. Crocker Co., Inc., a manufacturer of die cut lids for the food industry and labels for the pharmaceutical industry. Primarily serving North American customers, with approximately 150 employees, H.S. Crocker operates two facilities, in Huntley, Illinois, and Exton, Pennsylvania. For the 12 months ending July 31, 2021, H.S. Crocker’s consolidated sales were around US$50 million. “H.S. Crocker is a die cut lidding leader in North America, serving markets that are highly strategic for us,” said Thomas Morin, President of TC Transcontinental Packaging. “The integration of H.S. Crocker’s Huntley facility to our platform will broaden our packaging solutions portfolio, especially in the dairy, coffee lids as well as shelf stable and chilled desserts markets, and provide significant cross-selling opportunities with our respective customers. As for the Exton plant, it will allow us to expand our pharmaceutical and medical expertise in the advanced coatings product offering through the addition of value-added and specialized labels, while increasing our market share in the healthcare industry. We are also planning on leveraging the excess capacity within both H.S. Crocker’s facilities in order to support our organic growth. We wish to extend a warm welcome to all of H.S. Crocker’s talented employees.”
*Sale of lumber and newsprint assets for approximately $232 million; estimated gain on sale of $6 million, net of tax *Retired $127 million of senior unsecured debt; additional $25 million of senior secured debt repaid in October *Expect significant price increases on the majority of cellulose specialties contracts in 2022 *Net loss from continuing operations was $13 million, $26 million unfavorable to the comparable period in 2020, driven by income tax benefit recorded in the prior year *Targeting EBITDA margin growth focused on lowering cost, improving reliability, executing strategic projects and funding attractive innovation initiatives
Third Quarter Highlights: *Record net sales of $267.9 million were up 40 percent from prior year, with strong performance in each segment. Excluding the effects of the Itasa acquisition, net sales were 22 percent higher than prior year. *Record net sales in Technical Products were led by organic growth in all product categories. Net sales were up 46 percent from prior year, including sales from the Itasa acquisition. Excluding the acquisition, quarterly sales were up 15 percent from prior year. *Net sales in Fine Paper and Packaging were up 32 percent from prior year, driven by record sales in premium packaging and growth in consumer products. *As expected, operating margin was pressured by unprecedented increases in input costs and supply chain disruptions, as well as the effects of flooding from Hurricane Ida at our Pennsylvania facility. *Liquidity remained strong at $190 million as of September 30, 2021. *Itasa was awarded the EcoVadis 2021 Gold Medal for Sustainability, a key designation demonstrating our commitment to sustainable manufacturing practices.
CJK Group, Inc. announced that it has completed an agreement to acquire the assets of Times Printing, LLC in Random Lake, Wisconsin. Previously owned and operated as part of Nicholas Karabots’ Kappa Media Group of affiliated companies, the 324,000 sq. ft. print facility specializes in high quality 4-color printing of magazines, catalogs, and a wide spectrum of commercial print products. Times Printing capably serves the retail, consumer, and special interest markets, including B2B, travel and leisure, comics, and fundraising industries. The facility handles a variety of finish sizes, including digest, tabloid, slim jim, and oblong. Web and sheetfed presses accommodate long runs, short runs, and short cut-off work, heat set processes, and complex versioning and fulfillment. The facility offers full mailing and logistics services including co-mail, co-mingle, bound printed matter, and drop ship mailing. This acquisition will bring additional services and capabilities to the Sheridan companies, while giving Sheridan access to new markets. Organizationally, the plant will be recognized under the Sheridan brand, to be known as Sheridan Random Lake.
Graphic Packaging Holding Company announced the successful close of its acquisition of AR Packaging Group AB, Europe's second largest producer of fiber-based consumer packaging. The acquisition accelerates Graphic Packaging's growing position serving consumer packaged goods companies around the world with sustainable fiber-based packaging alternatives. Graphic Packaging announced its intent to acquire AR Packaging Group AB on May 14, 2021.
Walmart continues to reinvent the retail experience as we move toward a more sustainable future. At the heart of these efforts is something that seems simple: the plastic bag. Our journey to go Beyond the Bag began early last year, when we joined Closed Loop Partners’ Consortium to Reinvent the Retail Bag, collaborating with CVS Health, Target and other major retailers to lead industry-wide change around viable alternatives to the traditional plastic shopping bag. The good news is we’ve made progress. In fact, we’ve found opportunity for true change at the intersection of new technology and sustainability. As our stores work to test the innovative winning solutions of the Beyond the Bag Innovation Challenge, we’re seeing firsthand that the future isn’t just bright for alternatives — it’s more sustainable, and it’s on the immediate horizon.
The Association of American Publishers (AAP) today released its StatShot report for July 2021 reflecting reported revenue for all tracked categories, including Trade (Consumer Books), K-12 Instructional Materials, Higher Education Course Materials, and Professional Publishing. Total revenues across all categories for July 2021 were up 6.9% as compared to July 2020, coming in at $1.65 billion. Year to date revenues were up 15.6%, at $8.0 billion for the first seven months of the year. Trade (Consumer Books) sales were up 9.7% in July, coming in at $750.7 million, and up 15.8% year to date, with $4.9 billion in revenue. more at source: https://publishers.org/news/aap-july-2021-statshot-report-publishing-industry-up-6-9-for-month-and-15-6-year-to-date/
W&G Baird specialise in providing a professional, yet personalised print service with no job too big or too small. With over 150 years of experience, they can provide the customer with expertise and advice in everything from leaflets and business cards through to bespoke books, magazines and prospectuses. “We are very pleased to become a member of Two Sides. W&G Baird look forward to promoting the sustainable story of print media and enhancing our own sustainability journey,” says Patrick Moffett, Managing Director for W&G Baird. W&G Baird operates one of the largest sheet-fed capacity print rooms in the country, using the most sophisticated printing technology and finishing equipment available. In the last few years, W&G Baird have invested over £4 million in technology and people to remain at the forefront of the industry, which allows them to offer full service print solutions.
Third quarter net sales in Food were $797 million, an increase of 13% as reported. Third quarter net sales in Protective were $609 million, an increase of 14% as reported. Net sales of $1.4 billion increased 14% as reported. Favorable currency impact contributed $12 million, or approximately 1%, to net sales growth, as compared to the prior year. Net earnings in third quarter 2021 were $108 million, or $0.71 per diluted share, as compared to net earnings of $132 million, or $0.85 per diluted share, in the prior year. The decline is due to higher income tax expense and a $15 million pre-tax loss on the debt redemption of 4.875% senior notes due 2022.
Ennis, Inc. would like to announce the rebranding initiative of Independent Folders, a trade print solutions expert specializing in the highest-quality printed presentation products, large format, packaging and business check products. The company will now be referred to as Independent Printing & Packaging to encompass its ever-growing packaging capabilities. Independent Printing & Packaging began in a small shop in De Pere, WI during pre-war 1935 and specialized in printing handbills, business forms, invitations, business cards and other items for local business owners. In 1992, it expanded its services to a national level by joining trade associations and selling standard products through qualified print distributors. The company then rebranded as Independent Folders in 2012 in an effort to differentiate from local print shops serviced through the distributor channel.
Following the successful launch of its AQUACode range of products in 2019, Flint Group Packaging Inks continues to develop new solutions for Paper & Board applications to meet and exceed the needs of global packaging markets. Paul Winstanley, Senior Director of Technology & Innovation for Flint Group Paper & Board Europe, comments: “We recognise that through new brand owner designs, changes to consumer behaviour, and the push to improve the sustainability credentials of the packaging market, continued development is critical to support our customers’ ambitions and product strategies. This is why we are so pleased to confirm the success of our AQUACode range of products for a wide range of water-based packaging applications.
Daily sales for the quarter increased 11.7% compared to the third quarter of 2020 with the same number of selling days. On an organic, constant currency basis, which excludes revenues from the divested China business from the prior year results, daily sales increased 11.9% as compared to the third quarter of 2020. Foreign exchange contributed a 0.1% favorable impact during the third quarter of 2021 compared to the third quarter of 2020. Gross margin for the third quarter of 2021 was 37.1%, a 145 basis point increase over the prior year quarter driven by solid margin expansion in both segments. Reported and adjusted operating earnings for the third quarter of 2021 of $438 million were up 16% on a reported basis, and up 17% on an adjusted basis, versus the third quarter of 2020. Net cash provided by operating activities was $161 million and $311 million for the three months ended September 30, 2021 and 2020, respectively.
PEFC works to protect, responsibly manage, and further enhance forests, which are probably the most well-known nature-based solution for climate change. Our objective is to increase forests’ capacity to address societal challenges, such as climate change, effectively and adaptively, while simultaneously promoting the use of sustainably sourced wood products, which can help us to substantially accelerate the transition to low-carbon economies. “Sustainable forest management can maintain or enhance forest carbon stocks, and can maintain forest carbon sinks, including by transferring carbon to wood products […]. Where wood carbon is transferred to harvested wood products, these can store carbon over the long-term and can substitute for emissions-intensive materials reducing emissions in other sectors”, highlights the IPCC “with high confidence”.
The Aluminium Stewardship Initiative (ASI) has certified Crown Holdings, Inc. against the ASI Performance Standard for responsible production, sourcing and stewardship of aluminum with a focus on material stewardship. The Standard, which assesses and confirms the ethicality of metal packaging production activities within Crown’s Brazil operations, advances the Company’s progress within its Twentyby30 sustainability program and supports its customers in their own responsible sourcing goals. As a not-for-profit standards setting and certification organization, ASI works to define environmental, social and governance principles and criteria, with the aim to address sustainability issues in the aluminum value chain. In addition to creating a benchmark for the industry, the organization’s efforts around the ASI Performance Standard include: establishing requirements that can be independently audited to provide objective evidence for the granting of ASI Certification; reinforcing and promoting consumer and stakeholder confidence in aluminum; and serving as a broader reference for the establishment and improvement of responsible production, sourcing and material stewardship initiatives in metals supply chains. Utilizing these measures, ASI’s ultimate mission is to recognize and collaboratively foster responsible production, sourcing and stewardship of aluminum.
Pregis celebrated production start-up at its new 265,000 square foot manufacturing facility in Arlington, Texas with a ribbon cutting attended by the city’s mayor The Honorable Jim Ross. The new facility is now producing the Pregis EverTec™ mailer which is a durable, lightweight, curbside recyclable, paper cushioned, shipping solution. Pregis is currently employing 75 people in Arlington with plans to scale up to 105 over time. Pregis acquired the technology to manufacture the envirotech shipping solution in October 2020 with the goal to scale the production of the curbside recyclable product to meet consumer demand. The company self-manufactures the proprietary equipment used to produce the mailers. The new capacity in Arlington is in addition to the recently announced facilities in Bethel, Pennsylvania and McDonough, Georgia, as well as the Elk Grove Village, Illinois facility. The company is expanding with additional sites to serve strategic geographic markets which will create approximately 450 new jobs, in total.
SCA increases the prices on white and brown kraftliner in Europe by €50 per tonne. The new price is valid from December 1, 2021. “The kraftliner market remains strong”, comments Mikael Frölander, VP Sales and Marketing Containerboard. “We have a firm confidence in transport packaging, while we see a limited product supply.”
The Sustainable Green Printing Partnership (SGP), the leading authority in sustainable printing certifications, announced today Polaris Direct as the newest certified SGP Facility. “What I like about SGP certification is it creates a culture around sustainability,” said John Strand, director of operations. “It’s not just three or four of us deciding procedures – it encourages you to get other people involved, and you can’t create a culture of sustainability unless everybody’s in on it.” Located in Hooksett, New Hampshire, Polaris Direct is a direct marketing and printing company with many Fortune 500 customers. Founded nearly 20 years ago, the company is guided by innovative thinking and client-based problem solving.
As we continue to manage our manufacturing system to meet shifting customer needs and improve efficiency, Verso will discontinue the following grades by the end of 2021: • Velocity® • Balance® • Publishers Matte® • Publishers ThinBulk®. Any inventory will continue to be available until it is extinguished.
BillerudKorsnäs has today agreed with the British investment firm Inspirit regarding the divestment of the Beetham mill. The transaction is completed today. The purchase price corresponds to an equity value of around SEK 30 million. “The strategic importance of the Beetham mill for the rest of the group has been reduced since the investments in machine glazed (MG) paper production at Skärblacka a couple of years ago. With Inspirit, the Beetham mill gets an owner with the intention and resources to develop the business further,” comments Christoph Michalski, President and CEO.
Solenis, a leading global producer of specialty chemicals, will implement a price increase by up to 30 percent on all utility, process and functional product lines across the EMEA region, effective December 1 or as customer contracts allow. The price increase is necessary due to the tightening of raw material supply globally and escalating energy, packaging and transportation costs.
People are reading more again! During the pandemic, reader’s turned more to magazines, books, and newspapers, and many print subscriptions were sold. Print products continue to enjoy a high level of trust. In addition, catalogues and advertising journals are very popular with consumers – printed on high-quality paper grades from UPM. As the leading graphic paper producer UPM Communication Papers offers an extensive product range for all main printing methods, be it heatset web offset, coldest web offset, sheet fed offset, rotogravure or digital. In order to meet our customers’ needs and to ensure the high service capability and ultimate supply security we have further improved our CMR offering. The new offering on the non-glossy side will consist of three product ranges with a silky surface and excellent brightness levels: UPM Star silk H, UPM Ultra silk H new and UPM Cote silk H. Furthermore, the new offering includes two true matt and high bulk product ranges: UPM Star matt 1.2 H and UPM Ultra matt 1.2 H.