The Association of American Publishers (AAP) today released its StatShot report for March 2022 reflecting reported revenue for Trade (Consumer Books), Higher Education Course Materials, and Professional Publishing. The report does not include Pre-K revenue due to delays in data collection, but will be updated as soon as that data becomes available. Total revenues across all categories, excluding PreK-12, for March 2022 were down 4.2% as compared to March 2021, coming in at $804.4 million. Year-to-date revenues were up 1.1%, at $3.0 billion for the first three months of the year.
Through the first seven weeks of the third quarter, the average time for delivery of mail and packages across the postal network remained just 2.4 days. Third quarter service performance scores covering April 1 through May 20 included: *First-Class Mail: 93.5 percent of First-Class Mail delivered on time against the USPS service standard, an increase of 5.6 percentage points from the fiscal second quarter. *Marketing Mail: 95 percent of Marketing Mail delivered on time against the USPS service standard, an increase of 2.8 percentage points from the fiscal second quarter. *Periodicals: 86.5 percent of Periodicals delivered on time against the USPS service standard, an improvement of 5 percentage points from the fiscal second quarter.
Rayonier Advanced Materials Inc. announced that De Lyle W. Bloomquist has been appointed President and Chief Executive Officer of the Company, effective immediately. Mr. Bloomquist succeeds Vito J. Consiglio, who has stepped down as President and Chief Executive Officer of the Company, and as a member of the Company’s Board of Directors (the “Board”), with the mutual agreement of the Board. In connection with Mr. Bloomquist’s appointment, the Board named Lisa M. Palumbo as Non-Executive Chair of the Board. Mr. Bloomquist has served on the Company’s Board since 2014 and was named Non-Executive Chair of the Board in May 2020. He has decades of domestic and international leadership experience in the chemicals, minerals and materials industries, including in finance, sales, logistics, operations, IT, strategy and business development capacities. Mr. Bloomquist most recently served as a partner at Windrunner Management Advisors LLC, a management advisory services business, and prior to that served as the President, Global Chemical Business of Tata Chemicals Limited, and President, CEO and Director of Tata Chemicals North America Inc.
For the First Quarter of Fiscal 2022 *Net sales increased 21.0% to $2.3 billion compared to $1.9 billion in the first quarter of fiscal 2021 due to the favorable impact of fewer COVID-19 restrictions compared to the first quarter of fiscal 2021. *Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 18.0%, driven by a 10.0% increase in transactions and an 7.3% increase in average ticket. *Gross profit increased to $941.0 million compared to $753.8 million in the first quarter of fiscal 2021. As a percentage of net sales, gross profit increased to 40.1% compared to 38.9% in the first quarter of fiscal 2021, primarily due to leverage in fixed costs, strong growth in other revenue, and favorable channel mix shifts, partially offset by lower merchandise margin. *Operating income increased to $437.7 million, or 18.7% of net sales, compared to $305.3 million, or 15.8% of net sales, in the first quarter of fiscal 2021. *Net income increased to $331.4 million compared to $230.3 million in the first quarter of fiscal 2021.
First Quarter Fiscal 2022 - Financial Results: *Net sales of $3.5 billion, down 13% compared to last year. *Net sales growth in the first quarter fiscal 2022 was negatively impacted by an estimated 5 percentage points related to lapping the benefit of stimulus last year and approximately 3 percentage points from divestitures, store closures, and the transition of the company’s European business to a partnership model. *Comparable sales were down 14% year-over-year. *Store sales declined 10% compared to last year. The company ended the quarter with 3,414 store locations in over 40 countries, of which 2,825 were company operated. *Gross margin was 31.5%, 930 basis points lower than last year. *Operating loss was $197 million in the quarter; operating margin of negative 5.7%. *Net loss of $162 million
UPM Raflatac has signed an agreement to acquire AMC AG, a Germany-based company. This acquisition accelerates growth and expands the product offering of UPM Raflatac. Both parties have agreed not to disclose the purchase price or other transaction details. The transaction is expected to be closed latest in Q3, 2022. The closing of the acquisition is subject to regulatory approvals. With this acquisition, UPM continues in its strategic path, adding to the organic growth in the attractive specialty packaging material value chain and strengthens the company’s transformation and long-term value creation in one of its three spearheads of growth. AMC AG, founded in 1996 with roots going back to 1959 is a private company with long-term private owners. The company has two production sites Kaltenkirchen and Hagenow in Northern Germany. AMC’s business includes coating of pressure sensitive filmic labelstock and Viscom/Graphics materials under the Intercoat brand, and removable self-adhesive stationary products under the brand names Global Notes and Print Inform. The company employs more than 300 people and the latest financial year sales of AMC AG was EUR 110 million. UPM Raflatac expects to accelerate AMC’s growth and realize significant synergies.
Canfor Corporation is announcing the continuation of reduced operating schedules at its Western Canadian sawmills due to the ongoing global supply chain challenges. The Company has been operating at approximately 80% of production capacity since late March 2022. In addition, the Company will be implementing two weeks of rotating downtime across its primary sawmills in July and August, which will help align production capacity with the sustainable timber supply and transportation availability. The Company will use this downtime to complete maintenance projects and other site activities to help mitigate the impact on employees. These capacity reductions are expected to result in an incremental impact of approximately 275 million board feet by the end of August, in addition to the 100 million board feet reduction previously announced on March 30th.
Paddock Enterprises a wholly owned subsidiary of O-I Glass, Inc. , announced that an order confirming its Plan of Reorganization was entered by the United States Bankruptcy Court for the District of Delaware, paving way to the implementation of the Plan and the final stage in the Chapter 11 process. “We are pleased to have achieved this significant milestone resolving Paddock’s legacy liabilities in a manner that is fair and equitable, and provides finality for the company moving forward,” said Andres Lopez, CEO of O-I Glass. “The broad support for the Plan among Claimants is indicative of the positive outcome it delivers to all parties. We look forward to implementing the final steps in the Chapter 11 process following this confirmation by the Bankruptcy Court.”
Konica Minolta Business Solutions U.S.A., Inc. announced it has extended its partnership with the Plockmatic Group to launch the powerful and versatile SD-435/450 booklet maker. This brings a cost efficient solution for heavy production finishing to low and mid-sized Centralized Reprographic Departments (CRD) and commercial print environments. Plockmatic Group’s inline platform introduces architecture that enables new features for the first time in the low-to-mid volume market segments across Konica Minolta’s AccurioPress mono and color production machines. The inline versions of the SD-435/450 will be exclusively sold by Konica Minolta throughout 2022. The new system architecture enables customers to produce high-quality booklets including 8.5” x 11” landscape and has all the key processes needed to produce corner and edge staple, folding, spine forming and full bleed trimming, all combined in one single, easy-to-use system.
The American Forest & Paper Association (AF&PA) released its April 2022 Printing-Writing Monthly report. According to the report, total printing-writing paper shipments remained essentially flat (+0.3 percent) in April compared to April 2021. Total printing-writing paper inventory levels increased one percent when compared to March 2022. U.S. purchases of uncoated free sheet (UFS) papers in April increased one percent compared to last April while the inventory level increased one percent compared to March 2022. UFS imports increased 12 percent while exports decreased 26 percent in March 2022. Coated free sheet (CFS) paper shipments increased five percent compared to April 2021 while the inventory level increased two percent compared to March 2022. CFS imports increased 16 percent while exports decreased ten percent in March 2022. U.S. purchases of coated mechanical (CM) papers in April decreased 21 percent compared to last April while the inventory level increased six percent compared to March 2022. CM imports and exports both decreased compared to March 2021, down 21 percent and nine percent respectively. Uncoated mechanical (UM) paper shipments increased 15 percent compared to April 2021 while the inventory level increased one percent compared to March 2022. UM imports increased 13 percent while exports remained essentially flat (-0.1 percent) in March 2022.
Carol Hoffman Schoedinger has joined Monadnock Paper Mills, Inc. as Senior Sales Manager. Ms. Schoedinger will have responsibility for selling Monadnock’s full suite of sustainable printing, packaging and technical/specialty papers in the U.S. Midwest. Prior to joining Monadnock, Ms. Schoedinger held a range of sales and business development roles with WestRock, Evergreen Packaging and Appleton Coated. She has a breadth of experience in the paper industry and a strong understanding of the needs of the print design community. Her strengths include developing long standing partnerships and exceeding customer expectations through creative graphic solutions.
Solenis, a leading global producer of specialty chemicals, closed on the acquisition of Neu Kimya Anonim Şirketi on May 26, 2022. Located in Istanbul, Turkey, Neu Kimya serves the heavy/light water treatment and oil and gas markets in Turkey, Southeast Europe and the Middle East. The acquisition of Neu Kimya fits well with Solenis’ direct-to-market strategy and will offer customers in the region improved product and service offerings. "This new acquisition adds to our strategic growth plan following our recent ownership change to Platinum Equity," said John Panichella, CEO, Solenis. "With the ongoing support from the Platinum Equity team, we continue to proactively seek other opportunities for similar acquisitions that enhance our ability to serve customers."
National Average Price for Regular Unleaded Current: $4.599; Month Ago: $4.134; Year Ago: $3.041. National Average Price for Diesel Current: $5.530; Month Ago: $5.093; Year Ago: $3.179.
American Dollar to Canadian Dollar = 0.784713; American Dollar to Chinese Yuan = 0.149249; American Dollar to Euro = 1.072026; American Dollar to Japanese Yen = 0.007881; American Dollar to Mexican Peso = 0.050746.
*Comparable sales up 12.8% on an owned basis and up 12.4% on an owned-plus-licensed basis *Diluted EPS of $0.98 and Adjusted diluted EPS of $1.08 *Increased financial flexibility through a number of financing transactions *Repurchased $600 million of shares under $2 billion share repurchase program *Reaffirmed annual sales guidance and raised Adjusted diluted EPS guidance
Created by Two Sides UK, The Page is published three times a year and brings you all the latest news, facts, information, research and innovation from the world print, paper and paper packaging. You can request a printed copy of The Page by clicking on the link >> https://docs.google.com/forms/d/e/1FAIpQLSd4zafQsc8KTFDK2TGUAqz3qZ1GQPkkgIaIAaExog60zoNP2Q/viewform
The Celebrations are the culmination of the annual GEA competition, which recognizes companies throughout Illinois, Indiana and Wisconsin for superb craftsmanship in the design, creation and production of outstanding printed projects they produce for their customers. More than 200 people gathered in Milwaukee, Wisconsin, and Addison, Illinois, on May 25 for two simultaneous awards ceremonies to celebrate another spectacular year of print in the three-state region. Best of Show, the competition’s highest honor, was awarded to JR Dimensional of Milwaukee, Wisconsin, for their entry in the Booklets (4 or more colors) category entitled Cramer-Krasselt Taycan Book and Sleeve FF. One judge said, “Not often a printed piece can be described as electrifying.” First Runner-Up was awarded to Schumann Printers of Fall River, Wisconsin, for Blue Ocean Traders Spring and Summer 2022 in the Product Catalogs (4 or more colors) category. From the Calendars category, LCP, Waukegan, Illinois, won Second Runner-Up accolades for their Lake County Press 2022 Calendar.
Ogden Newspapers is acquiring KPC Media, the publisher of numerous publications in northeast Indiana, the firm has announced. Terms were not disclosed. Conducted in partnership with Journal Gazette Co. and its Fort Wayne Newspapers, the purchase follows Ogden’s acquisition last year of Swift Communications, publisher of newspapers in Colorado, Utah and California markets. The KPC purchase includes three dailies: The News Sun, Kendallville; The Herald Republican, Angola; and The Star, Auburn.
The Sustainable Forestry Initiative (SFI) 2022 Chain of Custody Standard has met our rigorous third-party assessment and is PEFC endorsed. Organizations certified to SFI’s 2022 Chain of Custody standard can now apply the PEFC on-product label and make PEFC claims, giving them more options to meet customer demand around the world. “SFI makes important contributions that address the needs of North America’s forests and communities and is a valuable national member working with PEFC to elevate the role of sustainable forestry,” said Dr. Michael Berger, Acting Secretary General of PEFC. “Only chain of custody certification standards that meet our rigorous criteria and that are developed in an open, transparent manner through a multi-stakeholder process are endorsed by PEFC.” The SFI 2022 Chain of Custody Standard was endorsed after a 60-day international public consultation period and a detailed examination that included a third-party assessment by an independent assessor.
ProAmpac, a leader in flexible packaging and material science, announced that it has acquired Specialty Packaging, Inc., a family-owned manufacturer of specialty paper, film and foil packaging products for the fast food and food services industries. The addition of Specialty Packaging’s complementary product portfolio and manufacturing capabilities extends ProAmpac’s reach with food service customers and expands its footprint to the southwestern United States.Based in Fort Worth, Texas, Specialty Packaging is a leading provider of paper, film, foil bags, sandwich wraps, basket liners and other custom products for longtime blue-chip fast food and food service brands. The company produces custom and stock paper, film and foil products from its state-of-the-art 100,000 square-foot facility. With this acquisition, ProAmpac broadens its portfolio of highly customized, recyclable food packaging solutions and increases its paper bag converting capacity.
The United Group (TUG) National Conference, held in Orlando, FL, awarded Stretch Films the Supplier Industrial Gold Award on April 29. Marketing Manager Ronald Casalino on behalf of the AmTopp Division business unit. The TUG supplier award arrived only a few weeks before the June startup of AmTopp new stretch film lines at its Remington, IN plant, which is a replicate of its sister facility in Phoenix. The capacity of the plant is about 50 million pounds per year. “On the eve of starting up our new Remington plant’s extrusion lines, this award reinforces our confidence as we continuously expand the stretch film business. In turn, the new capacity in Indiana will help us better serve our distributor partners,” said Hsieh.
Total European shipments of graphic papers in March 2022 were down 11.1% vs. March 2021 and are down 7.0% year-to-date. Total European shipments of newsprint in March 2022 were down 11.1% vs. March 2021 and are down 4.5% year-to-date. Total European shipments of sc-magazine in March 2022 were down 12.0% vs. March 2021 and are down 7.2% year-to-date. Total European shipments of coated mechanical reels in March 2022 were down 18.8% vs. March 2021 and are down 15.7% year-to-date. Total European shipments of uncoated mechanical (improved & others) in March 2022 were down 11.9% vs. March 2021 and are down 8.6% year-to-date. Total European shipments of coated woodfree in March 2022 were down 4.6% vs. March 2021 and are UP 3.2% year-to-date. Total European shipments of uncoated woodfree in March 2022 were down 10.0% vs. March 2021 and are down 9.6% year-to-date.
The numbers are in! Paper is, once again, one of the most recycled materials in the U.S. Our industry has maintained continuously high recycling rates for more than a decade. In 2021, the paper recycling rate climbed to 68%, a rate on par with the highest rate previously achieved. The recycling rate for old corrugated containers (OCC) – you know these as cardboard boxes – was also an impressive 91.4%. More than 50 million tons of paper was recovered for recycling in 2021. That amount could fill rail cars stretching from New York to Los Angeles three times! The paper recycling rate has met or exceeded 63% since 2009.
Klabin, Brazil’s largest producer and exporter of packaging paper, and the leader in the corrugated board packaging and industrial bags segments, takes another important step in its business strategy with the announcement of EkoFlex, its first paper for flexible packaging. The solution is targeted at diverse segments, such as food, hygiene, cleaning and pharmaceuticals, and helps to significantly reduce the use of plastic across the consumption chain. EkoFlex is produced from softwood (pine), resulting in an extensible paper with lower grammage, which offers better performance and greater resistance, with application in diverse market segments, especially in flexible packaging options such pillow bags, flow packs, stand up pouches and box pouches. EkoFlex is produced from Klabin paper, with feedstock from renewable sources derived from planted and certified forests. It is a repulpable and recyclable solution that is also certified for contact with food. The product is already available for sale in both the Brazilian market and for exports.
Kohl’s is deeply committed to its retail footprint and is evolving its real estate approach to match the changing industry landscape and customer needs. Over the next three years, Kohl’s will increase its investment in store strategies that will improve the store experience for customers and associates, and over the next four years, about 100 new, smaller format stores will open in markets previously untapped by Kohl’s physical presence. “Kohl’s began with roots as a brick-and-mortar company, and these 60 years of experience have set the company up to become a leading omnichannel retailer,” said Mark Griepentrog, Kohl’s chief property officer. “Our strong and productive off-mall store base can continuously evolve with our customer’s expectations and demand, and we see substantial opportunities to leverage our real estate in producing long-term growth.”
For the first quarter, net sales increased 18.7 percent versus the same period in fiscal 2021, exceeding pre-pandemic sales levels, and gross merchandise value ("GMV") increased 19.6 percent. During the quarter, Nordstrom banner net sales increased 23.5 percent and GMV increased 24.8 percent. Net sales for Nordstrom Rack increased 10.3 percent and continued to show sequential improvement towards pre-pandemic sales levels.
Urban Outfitters, Inc. announced net income of $32 million and earnings per diluted share of $0.33 for the three months ended April 30, 2022. Total Company net sales for the three months ended April 30, 2022, increased 13.4% over the same period last year to a record $1.05 billion. Total Retail segment net sales increased 12%, with comparable Retail segment net sales increasing 11%. By brand, comparable Retail segment net sales increased 18% at the Anthropologie Group, 15% at the Free People Group and 1% at Urban Outfitters. Wholesale segment net sales increased 6%, driven by a 9% increase in Free People Group wholesale sales. Nuuly segment net sales increased by $15.0 million driven by a significant increase in our subscriber base. “We are pleased to announce record Q1 sales driven by an 11% Retail segment ‘comp’,” said Richard A. Hayne, Chief Executive Officer. “Unfortunately, the impact of inflation on our costs of doing business more than offset the benefit of record revenues,” finished Mr. Hayne.
American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased 2% in April after rising 1.8% in March. In April, the index equaled 115.8 (2015=100) versus 118.2 in March. “After eight straight gains totaling 6.9%, for-hire tonnage finally slid back in April. Despite being the largest sequential drop since August 2020, the index was still above where it started in 2022 and a year earlier,” said ATA Chief Economist Bob Costello. “It is important to note that ATA’s for-hire tonnage data is dominated by contract freight with minimal amounts of spot market loads. The spot market has softened more than for-hire contract freight, as the market transitions back to pre-pandemic shares of contract versus spot market," Costello said.
The operations at Metsä Group’s and Valmet’s 3D fibre product demo plant in Äänekoski has begun. At the end of 2020, Metsä Group’s innovation company Metsä Spring and Valmet announced they would be investing a total of approximately 20 million euros in the demo plant. The demo plant is part of Metsä Group’s integrated mill site in Äänekoski, and it produces finished 3D fibre packaging products directly from wet pulp without intermediate phases. The moulded fibre-based packaging can replace plastic for example in food packaging. The demo plant currently employs approximately ten people. “Our fibre-based packaging products are a significant new initiative in the global packaging market. The novelty in our products include their layered structure, which, in turn, allows their production in a raw material and energy efficient manner applying a highly automated production process. The layered structure also allows the products to be easily modified for different purposes. The customers’ reception of the new product has been very positive. We know we’re on the right path,” says Metsä Group’s project lead, VP, Jarkko Tuominen.
Smurfit Kappa, one of the world's largest paper-based packaging companies, has announced the construction of a new packaging plant in Morocco, its first corrugated plant in the country. Located in Rabat and covering an area of 25,000 m2, it will enable Smurfit Kappa to supply innovative and sustainable packaging solutions quickly and efficiently to its local customer base. The plant will create packaging for sectors including industrial, agriculture, FMCG, automotive, pharma and ceramics and serve both local customers and multinationals based in Morocco. In a market where the demand for corrugated packaging currently exceeds supply, the new plant will play an important and strategic role.
The American Forest & Paper Association (AF&PA) has released its April 2022 Packaging Papers & Specialty Packaging Monthly report. According to the report, total packaging papers & specialty packaging shipments in April decreased two percent compared to April 2021. They were up one percent when compared to the same four months of 2021. The operating rate in April 2022 was 94.0 percent, up 1.4 points from April 2021 and up 1.3 points year-to-date. Mill inventories at the end of April decreased 6,000 short tons from the previous month, and were down 8,000 short tons compared to April 2021.
We appreciate your trust in Monadnock as your partner and supplier and want to thank you for your patience and understanding as we navigate all of the unprecedented challenges relative to fulfilling your paper needs. Nothing could fully prepare any of us for the appearance and consequences of COVID-19 in 2020, nor did anyone comprehend the domino effect that would ensue relative to the availability of essential raw materials – specialty chemicals, fiber and adhesives, available converting capacity, logistics and transportation issues, and labor shortages. We are actively managing the challenges we face, providing transparency, and continuing to deliver results for all of our customers. Despite facing longer manufacturing lead times, we are leveraging our long-standing supply chain relationships to deliver what you need.
Stora Enso and wood technology company Modvion are partnering to establish wood as the material of choice for wind turbine towers. The collaboration’s purpose is to demonstrate the vast possibilities in using wood in demanding constructions. Modvion builds wind turbine towers with laminated veneer lumber (LVL), which proportionate to its weight is stronger than steel. Stora Enso is a leading supplier of mass timber products, including LVL. The towers are built in lightweight modules, enabling taller towers and easy transportation on public roads without permits or road reconstructions. Taller towers reach stronger winds, leading to more cost-efficient energy production.
Global consumer brands are facing increasing pressure from governments and consumers to improve their sustainability. Reducing the footprint of packaging and labelling is one critical area where sustainability can be improved. Compensating for today’s unavoidable emissions, UPM Raflatac has announced that RAFNXT+ is the world’s first CarbonNeutral® certified label material. Sustainable packaging and carbon neutral labelling, clearly explaining both the packaging and the labelling’s sustainable components, are increasingly seen as an important step to encourage consumers to purchase more sustainable products. To help their many customers take positive climate action, in 2019, UPM Raflatac announced that RAFNXT+ was the world’s first label material verified by the Carbon Trust to reduce its carbon footprint and help mitigate climate change. Now, the company has taken a step further and has introduced its RAFNXT+, the world’s first CarbonNeutral® label material certified as a CarbonNeutral® product by Natural Capital Partners.
Landa Digital Printing™ and Quad announced that Quad is adding the Landa S10P Nanographic Printing® Press to its In-Store Solutions production lineup. The Landa S10P, equipped with a powerful digital front end, introduces a new standard in printing speed, format, efficiency and data-driven digital applications; expanding the digital capabilities for B1-format printing and offering unlimited variable print options at very fast speeds and at the highest quality available. The S10P supports Quad’s unique “through the line” offering for marketers – from strategy and creative through production, execution, and analytics for marketing that is more efficient and effective. Today, with people living, working and learning from anywhere, marketing that is delivered at the right amplitude for customer response and engagement is essential. Key to Quad’s multidimensional marketing approach is removing friction in the marketing process, clearing the way for deeper and better customer engagement across channels. One very effective retail marketing strategy is to utilize two strong application segments – in-store and personalized customer engagement – both of which mandate supreme print quality that only the Landa press can provide.
A paper bag that is strong, food safe, recyclable, compostable and both offset and flexo printable. Due to a unique synergy in the value chain, five partners have created this sustainable and innovative solution. The icing on the cake: winning two prizes at the EUROSAC Grand Prix 2022: Bronze and Public Choice Award! Crown Van Gelder is constantly exploring ways to produce paper more sustainably. One of the methods to do this is to replace wood fiber by alternative fiber, such as sugar beet pulp - a result of Cosun Beet Company’s sugar production. Together, Cosun Beet Company, Novidon (also a Cosun company) and Crown Van Gelder developed the sustainable Crown Native sugar beet paper, which was then printed and made into bags by Fiorini and used by DLF. For this unique effort, the collaboration was awarded with the EUROSAC Grand Prix 2022. Grass seed producer and brand owner DLF was looking for a more sustainable, paper-based alternative for its 15 KG bag to reduce the company’s environmental impact, the search led them to Crown Van Gelder. Together with DLF’s bag producer Fiorini, Cosun Beet Company and Novidon developed an open mouth bag consisting of three layers of Crown Native paper and using paper sack glue Novinexx CPB from Novidon.
A summary of results for the first quarter ended April 30, 2022 as compared to the first quarter ended May 1, 2021: *Net sales of $813 million, up 4% as compared to last year. *Gross profit rate of 55.3%, down approximately 810 basis points as compared to last year. The year-over-year decline is driven by approximately $80 million of higher freight costs, partially offset by higher average unit retail on lower promotions. *Operating expense, excluding other operating income, net, was up 5% compared to last year. Approximately half of the increase was due to the lapping of COVID-related rent abatements and payroll credits last year, and the other half due to an increase in marketing and digital fulfillment expenses. Operating expense as a percentage of sales increased to 56.9% from 56.2% last year. *Operating loss of $10 million and $6 million on a reported and adjusted non-GAAP basis, respectively, as compared to operating income of $57 million and $60 million last year, on a reported and adjusted non-GAAP basis, respectively.
Domestic revenue of $9.89 billion decreased 8.7% versus last year primarily driven by a comparable sales decline of 8.5%. Domestic gross profit rate was 21.9% versus 23.3% last year. The lower gross profit rate was primarily due to: (1) lower services margin rates, including pressure associated with the Best Buy Totaltech membership offering; (2) lower product margin rates, including increased promotions; and (3) higher supply chain costs. These pressures were partially offset by higher profit-sharing revenue from the company’s private label and co-branded credit card arrangement. Domestic GAAP SG&A was $1.74 billion, or 17.6% of revenue, versus $1.84 billion, or 16.9% of revenue, last year. International revenue of $753 million decreased 5.4% versus last year. This decrease was primarily driven by the exit of operations in Mexico in FY22 and a comparable sales decline of 1.4% in Canada. International GAAP gross profit rate was 24.3% versus 23.7% last year.
We continue to expand our delivery operations to help customers get the items they need when they need them, and it’s been an exciting journey. From Express delivery, where customers can have items delivered to their doorsteps in as little as two hours, to InHome, where they can get those orders placed right into their refrigerators, we’re proud to offer customers multiple options that help them save time and money. One solution we’ve been working on over the last year is delivery via drone. Today we’re announcing we’ll be expanding our DroneUp delivery network to 34 sites by the end the year, providing the potential to reach 4 million U.S. households across six states – Arizona, Arkansas, Florida, Texas, Utah and Virginia. This provides us the ability to deliver over 1 million packages by drone in a year.
Escalating costs continue to be seen across a number of raw material categories with no sign of improvement – binders, additives, pigments, solvents and other materials continue to rise in cost. Inflation is now worsening across multiple spend categories and an already problematic supply chain climate continues to experience significant disruption. Jesper Bødtkjer, Vice President and General Manager – Flint Group Packaging Europe reflects, “The emphasis we place on supply reliability has a significant financial implication on our business. Throughout these unparalleled times, we have sought to take a phased, incremental approach to pricing adjustments. However, the expected softening of raw material prices has not occurred, costs continue to rise aggressively and therefore we are forced to raise prices.”
Following the successful completion of a 15-month commercial technology validation of a polymer-based barrier replacing the aluminium layer, Tetra Pak is now moving to the next level of development - testing a fibre-based barrier that is a first within food carton packages distributed under ambient conditions. This step marks yet another breakthrough in the company’s long-term roadmap towards developing an aseptic package that is fully renewable, fully recyclable and carbon-neutral. The aluminium layer currently used in food carton packages plays a critical role in ensuring food safety; and even though it is thinner than a human hair, it contributes to a third of the green-house gas emissions linked to base materials used by Tetra Pak.
Sun Chemical has launched SunConnect, the latest complementary solution to SunColorBox, designed for the flexo corrugated printing market. SunConnect is an accurate and digital color communication tool that will enable converters to communicate color match request and quality control data on press directly from a smartphone, tablet, or desktop. It is an entry level digital color management solution giving converters the opportunity to upgrade in future to Sun Chemical’s SunColorBox – a unique set of tools and services that enables consistent and accurate digital color communication throughout the entire packaging supply chain. These applications and services are aimed at supporting packaging printers and converters produce brand colors consistently, anywhere in the world, within a fully optimized digital process.
Emily Frieden from the Fashion Institute of Technology in New York triumphed in USA Packaging Design Impact Award (PIDA) and earned this year’s Gold Award. Her entry “Lavash” impressed the jury most with its “attention to detail in every aspect of the brand, design, and execution.” Lavash is a volcano-shaped package for a shower set. The design features all stages of volcanic activity – dormant, active, and extinct. Even the typography mimics volcanic eruptions. “When I was researching different elements of nature I was really inspired by the juxtaposition of the restorative parts of volcanoes,” says Emily Frieden. “It’ s just cool, fun, nature. I thought there’ s a lot I can do there, how I can bring that experience to packaging. It was a lot of fun.” At PIDA, design students from universities and colleges from seven countries compete with their creative packaging designs. The competition is organized as five separate events: the USA, Sweden, France/Belgium, the UK, China*, and Germany/Austria. The winners of the Gold Award at each event will meet in a Grand Finale at Luxe Pack Monaco in October.
Mondi has collaborated with German machine supplier beck packautomaten to create a functional paper solution that has the potential to revolutionise eCommerce by replacing plastic packaging and creating right-sized packaging for a wide range of products. Mondi’s FunctionalBarrier Paper is 95% paper and features enhanced barrier properties to guarantee premium product protection against water vapour and moisture. This is essential for many products being shipped, including electronic goods. The paper is made with a higher strength, enabling it to carry heavier items without breakage. It is responsibly sourced, made of renewable materials and recyclable in existing recycling streams throughout Europe. Beck’s automated packing machine ensures that products of different sizes are packed according to their requirements. The machine measures the packed goods and calculates the paper needed, reducing excess usage of the material and thereby minimising waste and costs. Stable sealing of Mondi’s paper on all four sides of the packaging ensures that it meets logistics requirements and protects goods in transit - as successfully proven during tests in Mondi’s ISTA certified lab in its Bupak plant.
Through the first six weeks of the third quarter, the average time for delivery of mail and packages across the postal network remained just 2.4 days. Third quarter service performance scores covering April 1 through May 13 included: *First-Class Mail: 93.4 percent of First-Class Mail delivered on time against the USPS service standard, an increase of 5.6 percentage points from the fiscal second quarter. *Marketing Mail: 95.0 percent of Marketing Mail delivered on time against the USPS service standard, an increase of 2.8 percentage points from the fiscal second quarter. *Periodicals: 86.7 percent of Periodicals delivered on time against the USPS service standard, an improvement of 5.2 percentage points from the fiscal second quarter.
The Argentine Forest Certification System CERFOAR 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 31 May, at 14:00 CEST. The webinar is free to attend, and everyone is welcome. The Argentine 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.
Deluxe (NYSE: DLX), a Trusted Payments and Business Technology™ company, announced that Tracey Engelhardt, President of Checks, has taken on additional responsibilities as Chief of Operations. Engelhardt has been with Deluxe for nearly 30 years, overseeing the company’s strong position in checking programs for banks, businesses, and consumers. Her extensive knowledge of the industry, as well as deep understanding of the operations and manufacturing process within Deluxe, makes this addition to her portfolio a natural move for the company. Engelhardt, who has been a member of the Deluxe executive team for more than 10 years, is the first woman to run operations for Deluxe in its 107-year history. She will also continue as President of the Checks division.
Sun Chemical will increase prices across its entire portfolio of packaging, commercial sheetfed, and screen inks, coatings, consumables, and adhesives in Europe, Middle East, Africa, effective June 1st 2022 or as contracts allow. The unprecedented pace of inflationary cost movements continues to further impact the entire spectrum of raw material inputs and packaging components for the ink industry, while raw material availability remains an ongoing concern. The industry is additionally being hit by the current situation in Europe and China, adding up pressure onto supply/demand dynamics as well as on utilities and freight costs. Sun Chemical continues to find ways of mitigating these costs, but the magnitude and speed of cost increases requires the company to further increase prices.
Ahlstrom-Munksjö Holding 3 Oy’s Board of Directors has agreed an ownership reorganization plan under which the production assets, debts, and liabilities relating to its Decor business will be transferred from Ahlstrom-Munksjö Holding 3 Oy, without liquidation, to a newly formed company that will be named Munksjö. In the ownership reorganization, Ahlstrom-Munksjö Holding 3 Oy will divest the majority share of and remain with a minority share in the new Munksjö company to Ahlström Capital BV (wholly owned subsidiary of Ahlström Capital Oy) and Nidoco AB, both of which are affiliates of the current minority owners of Ahlstrom-Munksjö Holding 3 Oy. The planned reorganization is subject to customary closing conditions and is expected to be completed by the end of the third quarter of 2022, following which Ahlstrom-Munksjö Holding 3 Oy will start preparing plans for changing its business name to Ahlstrom.
Resolute Forest Products Inc. announced ratification of a four-year collective agreement by Unifor union members at seven of the company's pulp and paper mills in Canada, following an agreement-in-principle reached on May 15, 2022. "We are pleased with the result of the vote, which is a testament to the hard work and collaborative efforts of both the company and the union in recent years to address the challenges we are facing and to ensure the competitiveness of the business," said Remi G. Lalonde, president and chief executive officer. "Thanks to the support of our employees, we continue to pursue our vision to operate a model manufacturing company, built with the strongest business values, the highest respect for sustainability and the calling to serve our people and communities."
Transcendia is excited to announce it is breaking ground on a 52,000 square foot manufacturing expansion at its Hebron, OH location as part of its ongoing commitment to investing in barrier film technologies. The new building will be equipped with additional multilayer blown and cast film lines, specialty converting equipment and a new testing lab dedicated to supporting new barrier applications in the food, pharmaceutical and industrial film markets. Upon completion, the Hebron, OH facility, with its ISO 9001:2015 certified quality systems, SQF certification and class 7 clean room capabilities, will have a total footprint of 84,000 square feet. The new building will complement existing barrier extrusion capabilities, including Transcendia’s most recent seven-layer blown film asset capable of producing films up to 78” wide with thicknesses between 1.0 – 10.0 mil. In addition to multiple asset investments, Transcendia will be adding to its application and process engineering team to provide additional technology resources for customers’ new application development. To support the expansion and 24/7 operation, Transcendia will hire approximately 36 new associates including machine operators, material handlers, maintenance technicians and supervisors.
R.R. Donnelley & Sons Company announced the launch of Helium by RRD, an editorial solutions service providing access to specialized copywriting, content strategy, and project management professionals. This service provides brands with a centralized access point to hundreds of subject matter experts in content generation. According to research from Semrush, nearly half (49%) of companies outsource content writing in an effort to meet an increasing demand for B2B and B2C content generation and editorial output. Designed to support organizations with the depth and capabilities they need, Helium manages a North American-based talent pool of specialized writers to offer the following copy-driven services: *Branding – brand guidelines, content strategy, brand messaging and consistency *Marketing –SEO content, digital and social copy, brochures, and blog posts *Advertising – ad copy, scripts, banner ads, direct mail, and social media posts *Thought leadership – blog posts, white papers, and other educational materials...
Stora Enso has launched a comprehensive biodiversity programme and related targets for its land holdings in Sweden. The programme, which covers the Company’s forest land in Sweden, has five focus areas, each with specific actions and measurable targets for 2030. Combined with the ongoing biodiversity work, the new biodiversity programme with more than 30 actions will lead to increased nature values and strengthened biodiversity across Stora Enso’s land holdings in Sweden. Some examples of activities from the programme’s focus areas and main targets for 2030: • Deadwood: Over 40% of red-listed forest species depend on deadwood. Stora Enso aims to increase the amount of dead wood on its land holdings by 40%. • Broadleaved trees: Broadleaved trees provide critical habitats for many species. Stora Enso will double the number of broadleaved trees in young forests and plant 700,000 birch trees annually. • Water: Watercourses and wetlands are often rich in biodiversity since many species depend on water for different life stages. Stora Enso will identify four major water landscapes for restoration and remove migration barriers in all identified valuable watercourses. • Species and habitats: An umbrella species is an animal or plant that lives in an area with many other endangered species. The new biodiversity programme focuses on protecting four umbrella species, which in turn benefit hundreds of other red-listed species. • Active biodiversity management: actions in this focus area include increasing annual prescribed burning by 20% on average in the protection areas over a five-year period.
Atlantic just sent 17 pallets of electronic waste to a recycling facility. That’s 7,749 pounds of waste that will be given a new life instead of sitting in a landfill! Every employee at a company has a unique perspective, and when they’re presented with inspiration their great ideas come to life. Two years ago, Nate Huot began collecting old hardware laying around Atlantic’s facilities. This process gradually grew into a popular, new program at Atlantic. Old computers, copiers, monitors, battery backups, and a variety of other products have been collected from our locations in Acworth, Dalton, Greensboro, Tabor City, Wilmington, and Sturgis. These used devices would have ended up in a landfill if it wasn’t for the E-Waste Recycling Program. E-waste is full of valuable rare earth elements (REE’s) and toxic minerals. If these materials are not disposed of properly, they can pollute the environment.
Tosaf, Inc., a leading global developer and manufacturer of additives, compounds, and color and white masterbatches for the plastics industry, today announced the completion of additional capital investments in its Bessemer City, N.C. plant. The latest commitment of $2 million for a silo system and additional extruders brings the company’s total investment in the facility to more than $20 million. The silos were installed to take advantage of a rail spur that serves the plant. Built in 2016, the facility was designed to accommodate the silo system retrofit, a major part of the enhancements that advance its efficiency and cost-effectiveness. “We now have the needed infrastructure to receive raw materials via rail, which reduces labor and packaging required in our manufacturing processes,” said Tosaf General Manager Chai Tsadaka. “The silos and enhanced production capabilities allow us to better meet short lead times for our rapidly growing customer base. Unlike others, we provide a seven working day or less production order response time.”
Quad/Graphics, Inc. has been named one the world’s 25 largest agency companies, as determined by Ad Age, the global publisher of news, analysis, and data on marketing and media. This is the third consecutive year that Quad has been included in the list. Contending in a highly competitive field, Quad ranked No. 16 on the list of top 25 agency companies and No. 22 among the world’s top 25 consolidated agency networks. Periscope, a fully integrated creative agency, and Rise Interactive, a top performance marketing agency, are wholly owned by Quad and are part of the company’s comprehensive agency services.
Inspired by the Venus Flytrap plant, design students from Brobygrafiska claimed this year’s Gold Award in the Swedish leg of PIDA (Packaging Impact Design Award) with their inventive packaging solution for a set of drink mixer flavours called “Bite Botanical Bitters”. The team, comprising Herman Rydholm, Sofi Hansson and Julia Abrahamsson, impressed the jury with their deft use of “shape and colour that really catches our attention.” “We’re in shock!” says Herman Rydholm. “Very surprising. Actually, we started out with an idea of a pyramid shape, but it lacked colour so we thought we had to change. We happened to think of the Venus Flytrap and that was it. We got both colour and shape.” At PIDA, design students from universities and colleges from seven countries compete with their creative packaging designs. The competition is divided into five separate events: the USA, Sweden, France/Belgium, the UK, China, and Germany/Austria. The winners of the Gold Award at each event will meet in a Grand Finale at Luxe Pack Monaco in October.
Mondi, a global leader in packaging and paper, is presenting its broad portfolio of sustainable packaging solutions at this month’s Interzoo and demonstrating how flexible packaging can drive sustainability in the pet food industry. Packaging for pet food and pet care needs to be both protective and sustainable - the food contents need to remain fresh and intact but the top priority for eight of ten pet owners is packaging that is sustainable, according to a recent Mondi Dow Premium pet packaging survey. Shoppers worldwide are shifting towards mindful consumption and actively choosing brands that reduce their impact on the environment, particularly in light of the rise in eCommerce. Mondi’s expertise helps pet food manufacturers all over the world respond to this, through its EcoSolutions approach. Working closely with customers means the best possible solution can be created. Those solutions use paper where possible and plastic when useful - and help consumers contribute to a better world once pets have been fed.
National Average Price for Regular Unleaded Current: $4.593; Month Ago: $4.114; Year Ago: $3.043. National Average Price for Diesel Current: $5.570; Month Ago: $5.056; Year Ago: $3.175.
American Dollar to Canadian Dollar = 0.781652; American Dollar to Chinese Yuan = 0.149790; American Dollar to Euro = 1.056755; American Dollar to Japanese Yen = 0.007809; American Dollar to Mexican Peso = 0.050246.
In its full-year results for the 52-week period ended March 2022, the postal operator achieved revenue of £12.71bn, up 0.6% on the £12.64bn it achieved a year earlier. This included sales from its overseas parcels business GLS. On a reported basis, the company recorded a pre-tax profit of £662m, down 8.8% on last year, and an operating profit of £577m, down 5.6%. Its adjusted operating profit was up 8% at £758m while its adjusted pre-tax profit figure was up 6.5% at £707m. The business said that while the pandemic had resulted in an increase in parcel volumes, some of the tailwinds it experienced in the last year have subsided, and while it has seen a recovery in letter volumes, “parcel volumes and shifts in mix continue to be volatile”.
Over the years, the definition of sustainability has evolved, and now customers are the driving force behind companies’ sustainability practices. Committing to environmental stewardship in product innovation and manufacturing processes will benefit the community, employees, and customers for generations to come. Encapsulating this philosophy, Sustana is elevating the principle of sustainability to a core corporate level and assimilating it as an integral part of their everyday business practice. The leading manufacturer of sustainably produced premium recycled fiber and paper solutions is committed to sustainable manufacturing and being good stewards of valuable resources such as energy and water. To read the full article in Manufacturing Technology Insights, go to: https://www.manufacturingtechnologyinsights.com/sustana
When it comes to building a successful brand, understanding what you believe in and defining your core values are essential. But many brands stop there and forget that the most important part is to LIVE those values every day. Your actions are what speak the loudest, not simply stating what you believe. Just like humans, your brand will be judged by its behavior. see video at: https://www.jschmid.com/blog/mind-your-behavior/
Average student spending on college course materials, including textbooks and digital materials, declined 22% during the 2021-2022 academic year according to new data reported today by independent research firm Student Monitor. The trend continues a decade long decline according to the research firm, with student spending on the category dropping a dramatic 44% between the 2011-12 and 2021-22 academic years. “Course materials are more affordable now than at any time in the past decade,” commented Eric Weil, Managing Partner, Student Monitor. “Student spending dropped 22% during the most recent year, coming in at an average of just $314, in large part because Students are tailoring their purchases to the requirements of their individual courses, and taking full advantage of some of the new affordable options.”
In FY 2021, the Postal Service had a net loss from operations of $2.7 billion, a $0.9 billion improvement from FY 2020. The decrease in net operating losses for FY 2021 was primarily due to $4.0 billion more revenue than in FY 2020. When non-operating expenses are included, the Postal Service had a total net loss of $4.9 billion in FY 2021—an improvement of $4.2 billion compared to FY 2020. While the Postal Service realized an overall improvement in total net losses in FY 2021, continued losses have expanded the gap between the Postal Service’s assets and liabilities. Total assets at the end of FY 2021 were $46.4 billion versus total liabilities of $122.1 billion. A significant portion of the Postal Service’s liabilities was driven by unpaid retiree health benefit (RHB) liabilities totaling $57.0 billion at the end of FY 2021. The recent enactment of the Postal Service Reform Act removes this $57.0 billion liability of past due RHB obligations and eliminates annual payments for the RHB normal costs and the Retiree Health Benefits Fund amortization. Market Dominant revenue decreased in FY 2021 by $97 million or 0.2 percent from FY 2020. Increases in revenue per piece for overall Market Dominant products were not enough to offset declines in volume and fluctuation in mail mix and signal the severity of the effects of the pandemic during that time. In FY 2021, Market Dominant volume declined while package volumes rose as a result of continued growth in e-commerce that included record holiday volume. These changes in volume affected overall revenues and cost in addition to workforce and workhour changes in response to pandemic-related labor costs.
Smurfit Kappa has developed an innovative and sustainable water-resistant paper. AquaStop™ is part of Smurfit Kappa’s new TechniPaper® portfolio, which consists of an array of high-performance papers designed to handle even the most complex supply chains. The AquaStop™ paper is water-resistant thanks to a special coating which is added to it during the manufacturing process. Unlike many other coatings, this does not compromise the recyclability of the product and can be recycled in the same way as standard paper-based packaging. AquaStop™ is the latest innovation in Smurfit Kappa’s Better Planet Packaging portfolio of products, which offer sustainable alternatives to single-use plastics. As it is designed to withstand exposure to water without being damaged, it is suitable for eCommerce packaging and packaging for products such as flowers, detergent and fruit and vegetables where temporary protection against water is needed.
Sylvamo's board of directors authorized a share repurchase program to acquire up to $150 million of the company's common stock. "Our strong free cash flow enables us to begin returning cash to shareowners," said Jean-Michel Ribiéras, chairman and chief executive officer. "We also expect to continue paying down debt and will repurchase shares opportunistically to further increase our equity value.”
Ahlstrom-Munksjö has pledged to create sustainable, fiber-based solutions. PurposeSeal™ is pushing the boundaries of fiber-based end-use applications. PurposeSeal™ is a heat-sealed paper carefully constructed to ensure quality and protection for end-use packaging solutions. It boasts additional sustainability benefits when applied to Cristal™ Transparent Packaging Papers or trulyNatural™ unbleached papers. Ahlstrom-Munksjö recently received recyclability certification for the Cristal™ transparent paper product family, including PurposeSeal™ technology. These products have passed the SBS Equivalency (WMU SBS-E) testing protocol certifying these innovative papers recyclable from Western Michigan University. Additionally, Cristal™ and PurposeSeal™ have obtained 3rd party certification from Centre technique du papier, certifying Cristal™ heal seal coating is recyclable to the European Union’s EN13430 standards.
Koehler Paper’s colorful recycling papers make boxes and filling materials from PresentFill® an environmentally friendly packaging alternative. From packaging materials to gift packaging, a wide selection of products are produced using premium recycling papers from Koehler Paper. The papers, made from 100% secondary fiber material, not only boast the “Blue Angel” and EU ecolabels, but also stand out thanks to their quality, natural feel, and vibrant colors. The market and consumers are increasingly looking for sustainable packaging solutions and PresentFill® is facing ever more intense competition in the area of sustainable packaging solutions papers. In light of this, the product range has continued to grow in recent years in order to meet the demand for more sustainable alternatives.
*Comparable sales grew 3.3 percent, on top of 22.9 percent growth last year. **Comparable sales growth reflected traffic growth of 3.9 percent. **Store comparable sales increased 3.4 percent, on top of 18.0 percent growth last year. **Digital comparable sales grew 3.2 percent, following growth of 50.2 percent last year. **Same-day services (Order Pickup, Drive Up and Shipt) grew 8 percent this year, led by Drive Up, which grew in the mid-teens on top of more than 120 percent last year. **More than 95 percent of Target's first quarter sales were fulfilled by its stores. *Sales growth was led by frequently-purchased categories, including Food & Beverage, Beauty, and Household Essentials. *Operating margin rate of 5.3 percent was well below expectations, driven primarily by gross margin pressure reflecting actions to reduce excess inventory as well as higher freight and transportation costs.
*Total revenue was $141.6 billion, up 2.4%, negatively affected by $5.0 billion due to divestitures. *Walmart U.S. Q1 comp sales1 grew 3.0% and 9.0% on a two-year stack. *Walmart U.S. eCommerce sales grew 1% or 38% on a two-year stack. *Sam’s Club comp sales1 increased 10.2%, and 17.4% on a two-year stack. Membership income increased 10.5%. *Walmart International net sales were $23.8 billion, a decrease of $3.5 billion, or 13.0%, negatively affected by $5.0 billion due to divestitures. *Consolidated operating income was $5.3 billion, a decrease of 23.0%, negatively affected by $0.3 billion from divestitures.
This draft aims to increase the transparency and efficiency of outcome-oriented and risk-based forest management evaluations. Some changes include: *Remote auditing: The draft introduces the conditions in which certification bodies can conduct full or partial remote audits in forest management evaluations. *Risk based approaches: The standard also introduces requirements for risk-based evaluations and provides linkages with FSC-PRO-60-010 Incorporating a risk-based approach in National Forest Stewardship Standards to allow the risk-based approach concept to be implemented in forest management evaluations. *Alignment with digital report template: The revised standard also provides revised evaluation reporting requirements to ensure alignment with the Forest Management Digital Audit Report Template; to be implemented in phases across all FSC Forest Management audits. The digital audit template is based on existing requirements in FSC-STD-20-007a Forest Management Evaluations Addendum-Forest Certification Reports. Once the revision of FSC-STD-20-007 is concluded, the template will be updated accordingly to reflect any changes agreed through the revision process.
Anti-paper greenwashing works, unfairly costing the U.S. paper, printing and mailing sector huge sums in lost revenue each year. But Two Sides North America’s (TSNA) Anti-greenwashing Campaign is succeeding in eliminating many of these misleading claims, clawing back hundreds of millions for these businesses, according to the results of the latest TSNA study. In their efforts to cut costs, many leading U.S. financial institutions, utilities, telecom companies and other service providers are using unsubstantiated environmental marketing claims – greenwashing – to persuade consumers to switch from paper to digital bills and statements, suggesting that going paperless is “green,” “saves trees” or is “better for the environment.” The new TSNA research results illustrate the damaging effects these greenwashing claims have on the U.S. paper, printing and mailing sector, finding that 65% of those who have seen anti-paper greenwashing claims are influenced to switch from paper to electronic bills and statements. The study, conducted in partnership with global research firm Censuswide, also showed that the Two Sides North America Anti-greenwashing Campaign is having a powerful impact, preserving more than $308 million in annual revenue for the sector.
With more restaurants seeking carryout and delivery options, Eco-Products® is introducing a new compostable wrap that is ideal for swaddling sandwiches, snacks and more. The new wrap is made from wax paper, is ASTM D6868 compliant and is certified by the Biodegradable Products Institute (BPI) as compostable in commercial facilities. It conveniently works as a basket liner, food wrap or as a scale or pick-up sheet. Jointly developed with Eco-Products’ parent company, Novolex®, the new wrap offers a number of benefits: *Works with both hot and cold snacks and sandwiches *Made from renewable resources *Grease- and moisture-resistant *ASTM D6868 compliant and BPI-certified compostable in commercial compost facilities only *Features print on the wrap that includes the Eco-Products and BPI logos, assuring customers that the product is made from sustainable materials and can be to put into the compost bin after use.
During Flexo and Labels 2022, Sun Chemical will showcase its complete portfolio of solutions for narrow web, tag and label markets, highlighting the sustainability benefits of its latest product and service innovations. Using the theme “Power of Labels,” visitors of stand 6 will learn about Sun Chemical’s ongoing investments in the region and discover how the company’s commitment to sustainability is fundamental to its innovation and product development.
At Resolute, we continue to deliver on our strong commitment to climate change mitigation and green energy projects that optimize the use of renewables. Our two Florida tissue mills – Sanford and Hialeah – are taking advantage of the Sunshine State’s favorable climate to participate in ™, a community program offered by Florida Power & Lighting (FPL) that helps local homes and businesses access emissions-free energy. FPL operates dozens of solar energy centers across the state, increasing the use of solar power on the energy grid and helping to offset the use of other non-renewable energy resources. Resolute began participating in SolarTogether in July 2021. We anticipate a total annual reduction in greenhouse gas (GHG) emissions of about 7,000 metric tons (7,716 short tons) of CO2 equivalent (CO2e) in 2022 for our two Florida tissue mills. “This innovative program is helping Resolute achieve our sustainability targets,” said Patrice Minguez, president of Resolute Tissue. “Not only are we purchasing green energy to power our Florida operations, we are proud to support Florida’s clean energy revolution.”
Q1/2022 compared with Q1/2021 Pro forma • Net sales increased by 27.0% to EUR 918.9 million (723.5) • Comparable EBITDA improved to EUR 122.3 million (107.7), representing 13.3 (14.9) of net sales. Reported Q1/2022 compared with Q1/2021 - • Reported operating result was EUR 40.7 million (-8.0) and included items affecting comparability and other items of EUR -33.7 million (-47.4) • Net result was EUR 14.0 million (-23.9) including net financial items of EUR -16.1 million (-20.2) and taxes of EUR -10.6 million (4.3)
The Great Lakes Graphics Association (GLGA) will hold its annual Graphics Excellence Awards (GEA) Celebrations on Wednesday, May 25, 2022. The Celebrations are the culmination of the annual GEA competition, which recognizes companies throughout Illinois, Indiana and Wisconsin for superb craftsmanship in the design, creation and production of outstanding printed projects they produce for their customers. Dual sites will have simultaneous Celebrations that evening: the Medinah Shrine Center in Addison, IL, and the Wisconsin Club in Milwaukee, WI. The Celebrations start at 5 p.m. with an extended networking reception. All of the award-winning projects will be on display for attendees to examine and to choose their favorite in the voting for the People’s Choice award. A formal dinner will be served at 6:30 p.m. followed by the presentation of the award plaques and the announcement of the top winners.
As previously announced, Julie Schertell, President and Chief Executive Officer of Neenah, will serve as President, Chief Executive Officer, and a member of the Board of Directors. Dr. Jeff Kramer, Chief Executive Officer of SWM, will serve as a strategic advisor. John D. Rogers, Non-Executive Chairman of the SWM Board, will serve as Non-Executive Chair of the Board of Directors. The senior leadership team announced today includes: Omar Hoek, Chief Operating Officer; Andrew Wamser, Chief Financial Officer; Ricardo Nuñez, General Counsel, Secretary & Chief Compliance Officer; Natalie Poteran, Chief Transformation Officer; Sarma Malladi, Chief Information Officer; Mike Rickheim, Chief Human Resources & Administrative Officer
Today, food packaging is predominantly plastic and recycling rates are relatively low. While, fibre-based packaging is widely recycled in non-food uses, the industry believes that by 2040 fibre-based packaging will approach circularity as technical development broadens its suitability for food packaging. Recycling rates for plastics are also projected to grow. “The packaging industry will focus research and development efforts to meet increasing consumer and regulatory demand for more recyclable and compostable packaging”, believes Maria Saloranta, Vice President, Strategy for UPM Specialty Papers. “As a result, we expect the share of fibre-based food packaging to grow, accelerated by breakthroughs in barrier properties and use of smart technologies that help relay information to consumers quickly and easily”. In the report, more than 200 global packaging professionals from across the value chain contributed to the first-ever collective assessment of key trends that are projected to drive sustainability in the food packaging industry by 2040. The industry anticipates the global share of polymer-based packaging will fall by half over the next two decades in sustainable food packaging applications, while fibre-based materials are projected to contribute to over 40% of all materials in use for food packaging.
The application period to join the technical working group for the revision of requirements for Forest Stewardship Standards is closing soon on 24 May 2022. The revision of four normative documents regulating the requirements for development and maintenance of Forest Stewardship Standards (FSS) is starting in July 2022 and is scheduled to be completed by the end of 2024. For more information and to submit your application visit here (https://fsc.org/en/newsfeed/join-the-technical-working-group-to-revise-the-requirements-for-forest-stewardship). Applications are open until 24 May 2022. We are looking forward to receiving yours.
Sonoco announced favorable results from a recent study by trial with Sustana in collaboration with Kellogg’s, providing new opportunities to recycle paper containers. “Part of creating packaging that’s a sustainability success involves making sure its materials are made and sourced responsibly. Sonoco’s paper containers are made with 100% recycled fiber paperboard, of which 85% is post-consumer recycled content,” said Michael Pratt, Senior Sustainability Specialist at Sonoco. Through three third-party sortation trials, Sonoco confirmed that paper containers with steel bottoms can be recycled in the steel stream. The next step was to further increase the recyclability of paper containers in the paper stream. There was already proven success in producing 100% recycled paperboard with up to 85% post-consumer fiber from bales of mixed paper at all Sonoco U.S. paper mills, but it was still unknown if paper containers could be recycled further.
CJK Group, is pleased to announce the adoption of its GROW Learning Management System (LMS). The GROW LMS standardizes training across the entirety of the global company. For our customers, this set of online best practices will ensure a higher level of consistency and customer satisfaction. When you’re a global company with dispersed teams and diverse holdings, standardizing corporate best practices is incredibly difficult. CJK Group sought to update and reimagine its corporate learning environment, starting with a comprehensive leadership training program on skills development, company policies, and employment regulations. KnowledgeWorks Global Learning (KGL) was appointed to develop the LMS and design an engaging, six-module digital course for upskilling the company’s supervisors. In late 2021, CJK Group launched its secure, customized learning management platform to bring the whole company together with an organized, replicable training process called GROW. GROW offers a blended program featuring six mandatory online modules in a self-service format accessible to everyone in the business.
Mondi, a global leader in sustainable packaging and paper, has enhanced its Product Impact Assessment (PIA) tool with new environmental key performance indicators (KPIs). The Group’s broad range of life cycle assessment tools are designed to provide science-based, tailored information to customers about the environmental impacts of paper- and plastic-based products for better decision-making. The Group’s PIA tool initially focused on carbon and water scarcity but now has additional KPIs to address further key aspects in the sustainable design of products, such as: ‘Designed for recycling’; ‘Recycling rates in region’; ‘Share of plastics (PO) content’; ‘Share of renewable content’; ‘Share of recycled content’; and ‘Certified for composting’.
The packaging design team of Metsä Board, part of Metsä Group, was involved in designing a spectacular packaging for a non-alcoholic sparkling beverage. In addition to protecting the bottle, the packaging also forms a beautiful entity with the bottle. The design of both the bottle and the packaging is based on a painting by six-time world boxing champion and artist Eva Wahlström. For every product sold, 50 cents will be donated to the Finnish Cancer Foundation. "We wanted to bring consumers a product that visually transcends the everyday. The drink gets its flavour from the rose petals, which are also displayed in a striking way on the bottle and packaging," says Kimmo Koivikko of Lasso Drinks, which produced the drink. "The packaging is open on both the front and the back, forming a frame around the bottle. This also minimises the amount of material needed for the packaging. The product story was printed on the packaging in Finnish and English," says Ilkka Harju, Packaging Services Director, EMEA and APAC, at Metsä Board.
Stora Enso has divested its three corrugated packaging plants in Russia. The Company’s Lukhovitsy, Arzamas and Balabanovo packaging plants have been divested to local management. Stora Enso’s assessment is that due to the uncertainties in the Russian market, local ownership and operation will provide a more sustainable long-term solution for these businesses and their respective employees. The transaction will have no material impact on Stora Enso’s annual sales and Operational EBIT. Due to reduced business prospects for these businesses, an impairment loss of EUR 35 million was recorded in the first quarter result. The additional loss on the transaction under IFRS will be approximately EUR 55 million, consisting mainly of currency translation adjustments to be recorded at the closing date. The expenses are considered as items affecting comparability. The divested sites are located in Lukhovitsy, Arzamas and Balabanovo employing approximately 620 people and have a total annual capacity of 395 million m² of corrugated packaging.
Resolute Forest Products Inc. announced that it reached an agreement-in-principle for a four-year labor agreement with the Unifor union, representing most of the hourly employees in the company's Canadian pulp and paper operations. The agreement-in-principle is subject to member ratification. The master agreement covers seven of Resolute's pulp and paper mills in Canada: the Dolbeau; Gatineau; Kénogami; Saint-Félicien and currently indefinitely idled Amos and Baie-Comeau facilities in Quebec; and the Thunder Bay operation in Ontario. The collective agreement covers approximately 700 employees. The details of the agreement are confidential until union leadership presents its terms to members in the coming days.
Through the first five weeks of the third quarter, the average time for delivery of mail and packages across the postal network remained just 2.4 days. Third quarter service performance scores covering April 1 through May 6 included: *First-Class Mail: 93.5 percent of First-Class Mail delivered on time against the USPS service standard, an increase of 5.6 percentage points from the fiscal second quarter. *Marketing Mail: 95.0 percent of Marketing Mail delivered on time against the USPS service standard, an increase of 2.9 percentage points from the fiscal second quarter. *Periodicals: 86.8 percent of Periodicals delivered on time against the USPS service standard, an improvement of 5.3 percentage points from the fiscal second quarter.
As more companies establish their Environmental, Social and Governance (ESG) targets, there are increasing requirements to have clear and credible visibility into where they are directing their procurement spend. Access to legitimate and credentialed strategic partners is a critical component to achieving and measuring progress against ESG targets. With this in mind, we are pleased to announce a new sustainability initiative offered exclusively for HH Global strategic supplier partners. The HH Global Sustainable Procurement Framework (SPF) is a technology-enabled supply chain program aligned with the UN Sustainable Development Goals that will help suppliers share their ESG credentials and continuously improve on their ESG journey. We have carefully selected a group of HH Global strategic suppliers from each region to participate in the first phase of this innovative program, which launched last week.
After a successful launch last year, the U.S. Book Show returns with a full menu of programming for professional bibliophiles of all stripes. Highlights include PW Editors’ Picks panels, author chats, and Book Buzz panels done in cooperation with publishers. Check out the schedule here for a taste of what’s on offer and when it’s happening. On the pages that follow, you’ll find in-depth information on the discussions and meetup opportunities you won’t want to miss. Once again, there’s no need to head across town or fly across the country to participate. You’ll find everything at the U.S. Book Show website, usbookshow.com. All times given are in Eastern Time. see details at: https://www.publishersweekly.com/pw/by-topic/industry-news/bea/article/89326-the-u-s-book-show-returns.html
Intertape Polymer Group Inc. is pleased to announce that the Superior Court of Québec has issued a final order approving the previously announced acquisition of the Company by an affiliate of Clearlake Capital Group, L.P. by way of a plan of arrangement in accordance with Section 192 of the Canada Business Corporations Act. Pursuant to the terms of the Arrangement, the Purchaser will acquire all of the outstanding shares of the Company for a consideration per share of CDN$40.50 in cash. Subject to the satisfaction or waiver of the remaining conditions to closing contained in the Arrangement agreement with the Purchaser, the Arrangement is expected to close early in the third quarter of 2022.
Worzalla, an employee-owned printing company specializing in high-quality children’s books and cookbooks, was a sponsor of this year’s Words & Friends for Literacy event hosted and organized by the Portage County Literacy Council. After taking a pause in 2020 and a remote event in 2021 due to the pandemic, this year’s event was a success in helping raise more than $20,000. The funds Worzalla raised and all donations from other participants will support the Portage County Literacy Council’s community-based literacy programs. The Words & Friends for Literacy fundraising event invited members of the community to form teams of four or more people and host a House Party for Literacy. Teams completed challenges and raised funds during Apr. 27, 28 and/or 29. Worzalla’s team, The Jefferson Street Girls, comprised of associates Sparky Musolf, Deb Clark, Brenda Betro, Sarah Zuehlke, Sheila Jasenovsky (Team Capitan), Kim Mains, Cathy Davis, Jennifer Heisler and Shasta Grosbier, took first place in collecting a total of $2,331.00 in pledges from friends, family and fellow Worzalla associates.
Because several areas in Michigan failed to achieve compliance with the National Ambient Air Quality Standard for ozone, the Michigan Department of Environment, Great Lakes, and Energy (EGLE) is moving forward with a series of new regulations designed to reduce the precursors of ozone, which are volatile organic compounds (VOC) and nitrogen oxides (NOx). The Michigan counties designated as nonattainment include those in the West and the Detroit area and include Berrien, Livingston, Macomb, Monroe, Oakland, St. Clair, Washtenaw, and Wayne. In addition, portions of Allegan and Muskegon counties are also designated as nonattainment. The inability to demonstrate compliance with the ozone standard has triggered requirements in the Clean Air Act requiring EGLE to develop and implement a new set of air pollution control regulations designed to reduce emissions of VOCs and NOx. EGLE will have to adopt federal Environmental Protection Agency guidelines on a variety of industries including printing since VOCs are emitted.
Crown Van Gelder is going for Gold with development partners in the Eurosac Grand Prix on May 19-21 in Bilbao, Spain. This year, 3 members of Eurosac (Novidon, Fiorini and Crown Van Gelder) will pitch together, in collaboration with sugar beet pulp supplier Cosun and brandowner DLF in a 5 minute video, not as individual companies going for own glory, but as value chain partners. Herewith the partners show, that fast innovation for creating a greener world is possible. This is a story about how Cosun Beet Company, Novidon, Crown Van Gelder, Fiorini and DLF came together and from synergy created swift innovation with a more sustainable product as a result. DLF was looking for the reduction of the environmental impact of their 3-layer 15 KG bag for packaging grass seeds, compared to their current bag, produced with kraft paper. The new and more environmentally friendly packaging had to contribute to the sustainability ambition of DLF. The search of DLF led to Crown Van Gelder - who developed Crown Native sugar beet paper within a 5-year collaboration with Cosun - after which Fiorini as DLF’s bag producer and both Cosun and Novidon were involved.
Kruger announced that its affiliate Kruger Specialty Papers Holding L.P. entered into a definitive share purchase agreement pursuant to which one of its wholly-owned subsidiaries will purchase all the issued and outstanding shares in the capital of DKP Pulp ULC, a legal entity wholly-owned by Domtar Inc. that will, at the time of closing, own and operate the Kamloops Mill located at 2005 Mission Flats Road, Kamloops, British Columbia. The Kamloops Mill produces high quality Northern Bleached Softwood Kraft pulp and unbleached softwood Kraft for customers in North America and Asia. "We're very excited about the opportunities that will arise from this acquisition, not only for Kruger but also for the Kamloops Mill, B.C. wood fibre suppliers and the local community," said François D'Amours, Executive Vice President and Chief Operating Officer for Kruger Inc., Kruger Specialty Papers' parent company. "There is a natural fit between Kruger and the Kamloops Mill, which has an impressive track record in terms of performance, sustainability, health and safety and employee engagement. Kruger has always maintained excellent relationships with its employees, customers, suppliers and communities and will make every effort to ensure a smooth and efficient transition, and to continue and strengthen these relationships."
Surpassing its initial goal of an 8% reduction in Scope 3 greenhouse gas (GHG) emissions four years ahead of schedule, Berry Global Group, Inc. commits to reducing its absolute Scope 3 GHG emissions 25% by 2025 (from the same 2019 baseline). The new Scope 3 target is aligned with Berry’s existing Scope 1 and 2 commitments and validated by the Science Based Targets initiative (SBTi). SBTi approval confirms Berry’s ambitious value chain goal is in line with current best practice and consistent with actions required to help limit warming to 1.5°C and prevent the most damaging effects of climate change. “Climate change is one of the greatest challenges of our time. And we are committed to advancing the transition to a net-zero economy,” said Robert Flores, Berry Global’s Vice President of Sustainability. “Quickly surpassing and increasing our Scope 3 emissions target is a testament to Berry Global’s hard work, dedication, and collaboration across the plastics value chain to significantly reduce emissions.”
Postmaster General Louis DeJoy said the U.S. Postal Service will be forced to initiate “uncomfortable” price increases for market dominant USPS products such as first-class mail, marketing mail and periodicals, while shippers using Parcel Select Ground can benefit from use of cubic pricing. The USPS’s new pricing schedule goes into effect July 10, with the agency warning that twice-yearly pricing adjustments will be the norm going forward, even as the delivery service standard has slowed. The USPS delayed implementation of the service slowdown until after the peak holiday season. The recent Postal Reform Act’s undoing of mandated prefunding of retiree healthcare benefits will save $50 billion over 10 years by switching pensioners to Medicare – which many argue causes other economic liability issues. But DeJoy said that still leaves a projected $110 billion dollar USPS loss over that period.
Pregis recently started production at its new 298,000 square foot manufacturing facility in Reno, Nevada. The facility is producing the Pregis EverTec™ cushioned mailer, a durable, lightweight, curbside recyclable, paper cushioned shipping solution. Since acquiring the technology to manufacture the envirotech shipping solution in 2020, Pregis has scaled the production and full-color digital printing of the curbside recyclable product to meet consumer demand, and it continues to add sites to serve strategic geographic markets in this rapidly growing e-commerce packaging market. The Reno plant is the newest facility to add production capacity of EverTec in addition to recently opened facilities in Arlington, Texas; Bethel, Pennsylvania; McDonough, Georgia; and the expansion of the founding Elk Grove Village, Illinois location.
It’s a Wild Life! That’s the brief for PIDA 2022 – packaging design inspired by nature. Some 350 design students from seven countries will participate, showing packaging design projects with a personal and innovative interpretation of the brief. PIDA aims to highlight young talents and their ideas – but also to push the development of packaging design even further. This is how BillerudKorsnäs challenges convention for a sustainable future: by meeting the packaging designers of tomorrow. During May and June, BillerudKorsnäs will host the competition at five local events, and in October an international winner will be selected in a Grand Finale at Luxe Pack Monaco. PIDA 2022 will be a digital event, which enables a larger audience to be part of the exciting events. Representatives of the press are welcome to attend PIDA. Please find the dates for the different events below and register here - https://www.billerudkorsnas.com/pida/guest-registration.
In October 2021, Mohawk Fine Papers, Inc., North America’s largest privately owned manufacturer of fine papers and envelopes, introduced Paper With a Plan: A new attribute-driven approach to specifying paper. Mohawk refined and reorganized its paper portfolio into 5 distinct Collections that help make choosing paper by its properties and attributes easier. Mohawk’s paper grades are now grouped into the Beautiful, Sustainable, Expressive, Elevated, and Practical Collections. Mohawk Collections eliminate the guesswork behind paper specification giving you a simpler, more straightforward way to think about paper.
Friday 13 May marks the opening of the railway tracks at Larvik Port, reducing the number of trucks on the roads between Larvik and Halden by 800. Wood chips from the Norwegian timber corporation Bergene Holm in Amundrød near Larvik will now be transported by rail to Norske Skog’s mill in Halden, replacing traditional truck transportation. With one freight train holding cargo equivalent to 30 trucks, one train departure per week can replace hundreds of trucks on the Larvik – Oslo – Halden route. By replacing the transportation methods for wood chips and timber, Norske Skog is able to reduce emissions like exhaust, particulate matter and microplastics as well as contributing to road safety.
National Average Price for Regular Unleaded Current: $4.432; Month Ago: $4.083; Year Ago: $3.028. National Average Price for Diesel Current: $5.560; Month Ago: $5.019; Year Ago: $3.150.
American Dollar to Canadian Dollar = 0.768926; American Dollar to Chinese Yuan = 0.147307; American Dollar to Euro = 1.039130; American Dollar to Japanese Yen = 0.007753; American Dollar to Mexican Peso = 0.049512.
Catalogs aren’t what they used to be – they’re better than ever (or at least the great ones are). Gone are the days of bloated spreads crammed with product after product, trying to fit an entire inventory between the front and back covers. Space has opened up, boundaries are being pushed, and perhaps most importantly - stories are being told. The changes have been driven by one key factor: consumer expectation. Between overflowing inboxes, targeted algorithms, and a mailbox full of ads that no one quite remembers signing up for a successful catalog today has to disrupt, delight, and drive. Stand out in the mail, tell an interesting story that’s beautifully arranged, and drive consumers to make online purchases. At the core of every campaign and behind every functionally aesthetic layout, is one essential ingredient – copywriting. learn more at: https://www.jschmid.com/blog/disruptive-catalogs-part-3/
Q1 2022 Highlights (comparative figures have been restated to reflect discontinued operations1) *Sales of $1,038 million (compared with $1,028 million in Q4 2021 and $942 million in Q1 2021) As reported (including specific items) *Operating income (loss) of $(4) million (compared with $(90) million in Q4 2021 and $44 million in Q1 2021) *Operating income (loss) before depreciation and amortization (OIBD) of $56 million (compared with $(30) million in Q4 2021 and $109 million in Q1 2021) *Net loss per common share of $(0.15) (compared with net earnings per common share of $1.04 in Q4 2021 and net earnings per common share of $0.22 in Q1 2021)
The Book Manufacturers’ Institute (BMI) released the May results for its monthly survey on capacity and lead times for soft cover and hard cover books. As demand has skyrocketed and supply chain woes continue to hamper all segments of manufacturing, BMI put together the survey to get a better idea of what manufacturers were facing and what publishers should expect. May is the third month of the survey. According to responses regarding hard cover books, the average manufacturer was running at 91% of their capacity, up from April’s 85%. The average lead time for completed hard cover books dropped to 91 days, down from 103 in April. For soft cover books, capacity usage went from 94% down to 92% and the average lead time went back to March’s 70 days, based on 15 responses. See more at: https://www.bmibook.com/news/bmi-releases-industry-barometer-survey-results-for-may
"What I'm most looking forward to at the PEFC Stakeholder Dialogue are practical and informed discussions on the crucial role of forests and certification to support net zero emissions by 2050," says Dr Dorothy Maxwell, Sustainability Director at Davy Horizons and a moderator of tomorrow's Stakeholder Dialogue. In our interview, she gave us an insight into her job as Sustainability Director, the role of forests for tackling climate change, and what difference certification makes for businesses. Can you briefly introduce yourself? Hello – I'm Dr Dorothy Maxwell. I'm a sustainability professional with over 20 years international experience working with business and government on sustainability. My training is a MSc and PhD in Environmental Science from Imperial College London. I’m a Fellow and, board member of the Institute of Corporate Responsibility and Sustainability.
Ox Industries acquires a 150,000 square foot facility in Hanover, PA to expand its converting capacity in the Mid-Atlantic Region. The facility will house next-generation equipment and manufacturing practices and expand just in time stocking products and services. “We are excited to expand our Hanover location and to continue to invest in the community where we originally started OX. This is part of a $15 million investment in Hanover that will vertically integrate with our 100% recycled paperboard mills and create 50 new green-collar jobs,” said CEO Kevin Hayward.
Aptar CSP Technologies, part of AptarGroup, Inc. and a leader in active material science solutions to ensure product protection, extend shelf life and improve patient experience, announces a new manufacturing site able to produce its Activ-Blister™ Solutions for oral slide dose drugs in Europe. The move is part of a key strategic effort to expand production of Activ-Blister™ technology globally and is the result of a 3-way collaboration between Aptar CSP, Uhlmann (a leading pharmaceutical packaging equipment manufacturer), and Ivers-Lee, www.iverslee.com, (a local contract manufacturing organization). This collaboration consists of a fully automated Uhlmann blister machine validated to package oral solid dose drug products with Activ-Blister™ Solutions heat-staked to the foil at a rate of up to 250 blisters per minute (Figure 1). The equipment is designed to integrate Activ-Blister™ technology into the blister cavity with precision placement (Figure 2). The equipment has been fully-validated and is in place at Ivers-Lee, a CMO capable of manufacturing Activ-Blister™ solutions from R&D to commercialization. A CMO in EMEA will support regional customers and ensure speed-to-market.
With the backdrop of snow-capped mountains in the distance, customers of Hudson Printing in Salt Lake City entered the commercial printer's 120,000-sq.-ft. facility on May 5 for its first-ever open house. The event was intended to give attendees a tour of the facility, as well as a peek at the company's new Landa S10P nanographic printing press with perfector, which has been up and running since November 2021. Although seeing the Landa S10P running in person was a major draw during the event, Hudson Printing also announced that the 113-year-old company would in fact be installing a second Landa S10P later this year. Paul Hudson, CEO of Hudson Printing, explained that the company does a large amount of personalization printing, an area in which the Landa press has proven to be a success.
KPLP Q1 2022 Business and Financial Highlights: • Revenue was $398.7 million in Q1 2022 compared to $310.4 million in Q1 2021, an increase of $88.3 million or 28.5%. • Net income was $1.4 million in Q1 2022 compared to $6.8 million in Q1 2021, a decrease of $5.4 million. “We delivered strong sales growth of 28.5% year-over-year in the first quarter of 2022, driven by an ongoing market recovery, increased capacity driven by Sherbrooke and a pricing increase mainly impacting our Canadian operations. Robust top-line growth was tempered by escalating inflation across many essential cost items such as pulp, freight, natural gas, packaging and labour,” stated KP Tissue’s Chief Executive Officer, Dino Bianco.
Interfor Corporation recorded Net earnings in Q1’22 of $397.0 million, or $6.69 per share, compared to $69.7 million, or $1.15 per share in Q4’21 and $264.5 million, or $4.01 per share in Q1’21. Notable items in the quarter: • Acquisition of EACOM Timber Corporation o On February 22, 2022, the Company completed the transaction to acquire 100% of the equity interests of EACOM Timber Corporation (“EACOM”) from an affiliate of Kelso & Company. The acquisition includes seven sawmills with a combined lumber production capacity of 985 million board feet, an I-Joist plant with annual production capacity of 70 million linear feet, and a value-added remanufacturing plant with annual production capacity of 60 million board feet (the “Acquired Eastern Canada Operations”). The Company paid total consideration of $731.2 million which was funded from cash on hand and drawings on the Revolving Term Line. o The Acquired Eastern Canada Operations contributed $5.1 million of Adjusted EBITDA to Interfor’s first quarter results, which is net of $68.0 million recorded in production costs related to fair value adjustments recognized at the acquisition date.
First Quarter of 2022 Highlights: First quarter 2022 (“Q1 2022”) net earnings were $34.0 million, or $0.18 per share (diluted), compared to $8.0 million, or $ 0.04 per share, in the fourth quarter of 2021 (“Q4 2021”), which was the Company’s first full quarter operating its acquired forest-products assets *Lumber pricing improved significantly in Q1 2022 and outlook continues to be strong for the remainder of the second quarter of 2022 and beyond, with continued volatility but above-historical levels expected *Asset-backed revolving loan facility of $65.0 million was undrawn at quarter end and has remained undrawn at May 11, 2022. Seasonal log inventory build up continued to be funded from strong operating cash flow *The Company plans to conclude its Transition Services Agreement with Rayonier Advanced Materials by end of May 2022
White paper, like white paint, is not just white. Brightness is an important characteristic in our paper products. The brightness of white paper matters to customers who use it for printing books, brochures or marketing mail. To achieve the specified brightness, our mills use chlorine dioxide in the pulping process, which is also widely used for treatment of drinking water. We use it to brighten pulp after it’s reduced from wood. The pulp goes through a three-stage bleaching process to achieve the desired brightness before continuing through the mill to become uncoated freesheet paper. Through a continuous improvement project, the team at our Johnsonburg Mill in Pennsylvania has managed to reduce the volume of chlorine dioxide used while maintaining the brightness our customers expect. The work also highlights Domtar’s commitment to quality and sustainability.
Mondi, a global leader in sustainable packaging and paper, has switched its entire portfolio of glassine-based release liners to certified base paper. The change is part of Mondi’s ongoing, proactive approach to sustainability, which includes developing solutions that are better for the environment. Glassine-based release liners are mainly used for labels, tapes, and medical applications. By moving to certified base paper, Mondi is improving traceability, working with partners who manage forests responsibly in line with its commitment to maintain zero deforestation in its forests and supply chain. This latest move to certified glassine-based paper is another step in Mondi’s commitment to responsible sourcing and supply chain transparency.
Financial summary for the quarter: • EBITDA excluding special items US$337 million (Q2 FY21 US$112 million) • Net debt of US$1,793 million (Q2 FY21 US$2,070 million) • Profit for the period US$188 million (Q2 FY21 loss of US$23 million) • EPS excluding special items 35 US cents (Q2 FY21 loss of 1 US cents)
UPM closed the sale of its Chapelle Darblay newsprint mill site to the Community of Rouen today. This sale is an asset sale, covering land, the buildings and the equipment. No personnel will be transferred. UPM had permanently ceased production and agreed a social plan for its employees at its Chapelle mill in Grand-Couronne, France already in June 2020. UPM had originally committed to selling the site to a consortium of two partners, Samfi and Paprec France SAS, in October 2021. The Community of Rouen then pre-empted the sale of the Chapelle Darblay land and buildings in February 2022, cancelling the sale to Samfi and Paprec France SAS. UPM will remain committed to the French newsprint market and will continue close collaboration with its partners and customers in France.
First-Quarter Highlights: *Net income of $26 million ($0.59 per diluted share) compared with $62 million ($1.41 per diluted share) in the fourth quarter of 2021; first quarter 2022 net income includes the impact of a $68 million ($57 million, net of tax) impairment charge for our Russian operations as we evaluate options to exit the business *Free cash flow3 (non-GAAP) of $73 million compared with $162 million in the fourth quarter of 2021
For the Three Months Ended April 2, 2022: Sales increased 19% to $293.6 million, compared to $247.6 million during the same period last year. Gross profit increased 7% to $154.9 million, or 52.7% of sales, compared to $145.2 million, or 58.6% of sales, in the first quarter of 2021. The 590 basis point decrease in gross margin was primarily driven by higher inbound freight, including a 220 basis point impact of a non-recurring true-up of prior year freight costs, and an unfavorable impact of the non-renewal of the Global System of Preferences (“GSP”) program on import duties, partially offset by price increases and a favorable mix shift to our DTC channel. Operating income decreased 17% to $33.3 million, or 11.3% of sales, compared to $40.0 million, or 16.2% of sales during the prior year quarter. Net income decreased 16% to $25.7 million, or 8.7% of sales, compared to $30.5 million, or 12.3% of sales in the prior year quarter.
On June 2, Queen Elizabeth II of Great Britain will celebrate the 70th anniversary of her reign. To mark the occasion, the British government has commissioned the DK publishing house to produce an anniversary book. “Queen Elizabeth: A Platinum Jubilee Celebration” has a print run of more than 4.5 million copies and will be distributed free of charge to students at British primary schools from the middle of the month. For the first time in British history, a regent, Queen Elizabeth II, is celebrating the 70th anniversary of her reign, known as a Platinum Jubilee – and the whole country has been preparing for this extraordinary celebration for months. The Queen ascended the throne on June 2, 1952, and for this reason the government of the United Kingdom has proclaimed June 2 of this year, a Thursday, and the following Friday, a public holiday, giving Britons four full days, June 2 to 5, to celebrate the Platinum Jubilee. Alongside the many festivities, the official book to accompany the occasion, “Queen Elizabeth: A Platinum Jubilee Celebration,” will be distributed free of charge to British elementary schools. The book was produced by the DK publishing house, which secured the prestigious contract with Britain’s Department for Education following a tendering process last year.
We’ve continued working hard to tell the great environmental story of print, paper and paper-based packaging. With an economy under significant pressure, more and more anti-print Greenwashing messages are popping up as organisations try to save money by pushing their customers online. Two Sides actively engage businesses, brands and organisations to desist from making these misleading messages and working with Royal Mail, through case studies, to help explain the value that print as part of a media communication plan delivers. To improve consumer perceptions of paper products, the Love Paper campaign had more than 480 adverts in national newspapers and magazines this quarter, reaching more than 20 million consumers every month. Environmentally conscious brands are also recognising the usefulness of the Love Paper logo on their paper-based marketing and paper packaging, informing customers that their brand is environmentally aware, making sustainable choices, backed up with facts and statistics. Our work wouldn’t be possible without the support of our members. We are pleased to have welcomed 4 new members this year already. Thank you to all our members for your continued support.
Brook + Whittle, a leading provider of pressure sensitive labels, shrink sleeves and flexible packaging, has acquired Diamond Flexible Packaging in Northbrook, IL. Diamond is a third generation, family-owned business with over 90 years of experience producing high quality flexible packaging solutions. Diamond is a premier flexible packaging and converting company, providing custom printed bags and pouches for a wide variety of end markets including Food, Cosmetics, Nutritional, Beverage and Healthcare. They have built a strong reputation for supplying customized, high-performance products that meet and exceed customer expectations.
First Quarter 2022 Highlights (as compared to first quarter 2021): • Revenue increased 17.6% to $406.4 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 21.0% from 23.9% primarily due to the unfavourable mathematical impact of Dollar Spread Maintenance(1) and increased plant operating costs. • Net earnings attributable to the Company shareholders ("IPG Net Earnings") decreased $75.7 million to a net loss ("IPG Net Loss") of $56.7 million ($0.96 basic and diluted loss per share) primarily due to charges related to the Arrangement(2) for contingent consulting fees payable upon completion as well as a significant increase in the fair value of share-based compensation awards in selling, general and administrative expenses ("SG&A"). • Cash flows used for operating activities increased $26.9 million to $55.8 million primarily due to a greater decrease in accounts payable, partially offset by a decrease in accounts receivable and non-recurrence of share-based compensation settlements in the first quarter of 2021 related to cash-settled awards.
The SGP Partnership, the leading authority in sustainable certification for the printing industry, announced today Syracuse Label & Surround Printing of North Syracuse, NY has achieved its sustainability certification. A recognized leader in sustainability, the company offers digital and flexographic printing solutions with a product portfolio that includes pressure-sensitive labels, shrink sleeves, flexible packaging, cartons, hang tags, roll fed-wrap labels and other custom-made printed products. As a certified SGP facility, Syracuse Label & Surround Printing is committed to sustainability targets by reducing waste, conserving energy, sourcing sustainable materials, creating a safe workplace and lowering carbon footprint. Each year, SGP certified facilities, like Syracuse Label & Surround Printing, must propose a continuous improvement project as part of its certification. In addition, every two years, facilities must undergo an independent third-party audit.
Paper Excellence provided an update on skilled labour shortages in British Columbia that are impacting the company’s ability to execute many of its planned shutdowns on time. The company has been dealing with delays due to shortages of skilled pressure vessel welders at its Crofton facility which will impact the length of the shutdown resulting in incremental lost pulp production due to the delays. The company is concerned that similar shortages will impact upcoming shutdowns at Howe Sound and Skookumchuck. The company currently expects a loss of about 10,000 tonnes of NBSK pulp production in total across all three sites. Paper Excellence remains committed to its customers and can supply pulp products from its other unaffected mills during these delays.
Net sales in the first quarter were $1.31 billion, up $138.8 million or 11.8% from the first quarter of 2021. While first quarter net sales decreased nearly $3 million due to changes in foreign exchange, the majority of the increase relates to higher client demand for most of the Company’s products and services, and price increases to partially offset inflationary cost increases. The Company experienced significant growth in Supply Chain Management, Commercial Print and Labels products. Organic net sales increased 12.0%. Loss from operations was $25.5 million in the first quarter of 2022 compared to income from operations of $25.1 million in the first quarter of 2021. The first quarter of 2022 included $64 million of expenses related to the merger, and net restructuring, impairment and other charges of $18.9 million which increased $13.1 million from the prior year period. Net loss from continuing operations of $58.4 in the first quarter of 2022 compared to $1.7 reported in the first quarter of 2021. The 2022 net loss from continuing operations reflects the increased loss from operations, higher income taxes and loss on debt extinguishment, slightly offset by lower interest expense.
The Great Lakes Graphics Association (GLGA) is proud to announce the recipients of its second annual Women in Print Leadership Award. The Women in Print Leadership Awards supports GLGA’s ongoing quest to recognize the contributions of women in the Midwest print, graphic arts, finishing and print packaging community as well as those women who support the print industry in a vendor or supplier capacity. Any woman working directly in print or in a vendor role supporting print who was in good standing with her company in Illinois, Indiana or Wisconsin was eligible to be nominated. The nominations were reviewed by a panel of female print professionals outside of the Midwest, who selected one recipient per state.
A May 4 webinar hosted by Ingram Content Group addressed supply chain challenges, logistic delays, inflation, the role environmental impacts play on consumer shopping preferences, as well as how accessibility is increasing the reach for e-books and audiobooks. Participants included Rob Grindstaff, director of sales operations and product development for Ingram's Lightning Source; Ruth Jones, director of global sales and digital services at Ingram Content Group UK; and Gina Walpole, the senior services manager for Ingram Content Group UK. Panelists noted that troubles with the supply chain persist. Problems include a shortage of materials, increased freight prices, and port congestion. All of this is putting a strain on publishers as it becomes more difficult for them to accurately predict demand and, consequently, supply for a given title. It was pointed out that paper mills are operating at full capacity while some are shifting production from producing paper to packaging. Labor shortages persist across the logistics supply chain—and are predicted to carry into 2023. All this is resulting in rising costs.
* Dotdash Meredith revenue increased 665% year-over-year to $500 million, benefitting from the Meredith acquisition. o Digital revenue was $216 million and Print revenue was $290 million. o Operating loss of $56 million and Adjusted EBITDA of $9 million reflect $26.5 million of restructuring charges incurred and transaction-related items associated with the acquisition of Meredith incurred in Q1 2022. * Angi Inc. revenue increased 13% year-over-year to $436 million, the 6th consecutive quarter of double-digit growth. * Emerging & Other revenue increased 9% to $167 million.
Sonoco announced it will raise the price for all paperboard tubes and cores by a minimum o 6 percent, effective with shipments in the United States and Canada on or after June 10, 2022. “Ongoing market tightness and additional inflationary cost pressures from rising paperboard prices, our primary raw material, along with higher labor rates, make this increase necessary,” said Doug Schwartz, Division Vice President and General Manager, North America Tubes and Cores. “Despite these supply chain pressures, we remain committed to maintaining the quality and service that our customers are accustomed.”
First quarter 2022 net income from continuing operations was $16.5 million (0.49 per diluted share) compared to net income from continuing operations of $9.6 million ($0.29 per diluted share) in the first quarter of 2021. Net income from ongoing operations, which excludes special items, was $16.9 million ($0.50 per diluted share) in the first quarter of 2022 compared with $10.1 million ($0.30 per diluted share) in the first quarter of 2021. First Quarter Financial Results Highlights *Earnings before interest, taxes, depreciation and amortization ("EBITDA") from ongoing operations for Aluminum Extrusions of $23.9 million was $10.6 million higher than the first quarter of 2021 *EBITDA from ongoing operations for PE Films of $7.0 million was $0.2 million lower than the first quarter of 2021 *EBITDA from ongoing operations for Flexible Packaging Films of $5.0 million was $4.6 million lower than the first quarter of 2021
Mondi continues to make progress on its previously announced €125 million investment to expand and upgrade its Kuopio mill in Finland with expected start-up by the fourth quarter of 2023. This morning, regional and local officials joined Mondi’s Group CEO and other senior leaders at a ground-breaking ceremony to celebrate this major upgrade of the semi-chemical fluting mill. "Thanks to the best technology available, production capacity will increase by 55,000 tonnes per annum and product quality will be enhanced to better serve growing customer demand. The long-term sustainability of the mill will also be considerably improved, further consolidating its place in the community." Andrew King, Mondi Group CEO
UPM Raflatac extends its CarbonNeutral® product portfolio by achieving CarbonNeutral® product certification for the whole Linerless product range. The certification is issued by Natural Capital Partners in accordance with The CarbonNeutral Protocol. The leading global framework provides a robust and pragmatic blueprint for carbon neutrality. Direct thermal (DT) linerless labeling products help customers to reduce their packaging footprint and is in high demand in the packaging value chain. Sustainability and efficiency benefits of using linerless are significant as linerless brings up to a 40 percent reduction in material usage compared to traditional labelling technologies. DT linerless market has seen approximately 15 percent year-on-year growth in recent years.
The U.S. Postal Service today announced its financial results for the second quarter of its fiscal year 2022 (Jan. 1, 2022 - March 31, 2022), reporting an adjusted loss of approximately $1.7 billion for the quarter, essentially flat compared to the same quarter last year. Adjusted loss excludes non-cash workers' compensation adjustments for the impacts of actuarial revaluation and discount rate changes, which are outside of management's control. On a U.S. generally accepted accounting principles ("GAAP") basis, the Postal Service had a net loss of $639 million for the quarter, compared to a net loss of $82 million for the same quarter last year. The Postal Service's operating revenue was approximately $19.8 billion for the quarter, an increase of $896 million, or 4.7 percent, on volume growth of 886 million pieces, or 2.9 percent, compared to the same quarter last year.
Through the month of April, the average time for delivery of a mailpiece across the postal network held steady at 2.4 days. Third quarter service performance scores covering April 1 through April 29 included: First-Class Mail: 93.5 percent of First-Class Mail delivered on time against the USPS service standard, an increase of 5.6 percentage points from the fiscal second quarter. Marketing Mail: 95.0 percent of Marketing Mail delivered on time against the USPS service standard, an increase of 2.8 percentage points from the fiscal second quarter. Periodicals: 86.8 percent of Periodicals delivered on time against the USPS service standard, an improvement of 5.3 percentage points from the fiscal second quarter.
Fiscal 2022 Third Quarter Key Financial Highlights *Revenues in the quarter were $2.49 billion, a record for third quarter revenue and a 7% increase compared to $2.34 billion in the prior year *Net income in the quarter was $104 million, an 8% increase compared to $96 million in the prior year *Total Segment EBITDA in the quarter was $358 million, a 20% increase compared to $298 million in the prior year, and includes $15 million of one-time transaction costs
Known for its role in developing technology that delivers more sustainable bottles, Amcor Rigid Packaging (ARP) is announcing ahead of National Packaging Design Day the creation and launch of PowerPostTM. By actively displacing the vacuum in the container after filling, PowerPost technology delivers a bottle nearly one-third lighter, with 30% energy reduction and 30% carbon savings over most 20 oz (600 ml) bottles available today. It also allows for up to 100% recycled material use and provides a superior consumer experience – no more spills from overflow when consumers first open their beverage. PowerPost is the most advanced lightweighting technology for hot-fill beverages on the market today. PowerPost builds on Amcor’s patented, vacuum-absorbing technology PowerStrap™. The PowerPost base has two key technologies: an invertible, central post that actively displaces vacuum, and PowerStrap, the flexible ring surrounding the post. After filling, the post is inverted to actively displace vacuum inside the container and, as the product cools down, the surrounding ring flexes to passively absorb any remaining vacuum.
SPC received three awards for our very own “SPC Innovative Format Guide”: Best of Category award in the Digital Books category; Best of Division for the Print/Graphic Arts Self-Promotion category; and Award of Excellence in the Product Catalogs with 4 or more colors category. This printed guide and digital library is distributed to clients and hosted on the SPC website for our clients to reference anytime as they brainstorm ideas and formats for future direct mail campaigns. This library includes eight categories with 150 pre-approved formats to browse and use for a variety of vertical markets. Using laminated divider cards followed by two-sided digitally produced individual format cards, the guide is built to easily expand to include future innovations. The grommet holes and screw post keep it together and organized while the clear plexiglass box keeps it safe and in sight on any marketer’s desk
Responding to climate change is one of the greatest challenges of our times. As a global company, Sappi is committed to being part of the solution and is focused on decarbonising its operations. As part of its long-term global commitment to climate protection and sustainable production, Sappi will be abandoning the use of coal at its German site in Stockstadt as a next step. To this end, the current coal-fired Boiler 9 will be decommissioned, and the mill will be operated using only renewable biomass and natural gas. This transition already started at the end of 2021 and is scheduled for completion by the end of September 2022. This fits seamlessly into Sappi’s large-scale projects to reduce CO2 emissions as part of its ambitious decarbonisation roadmap: for instance, with the fuel boiler modernisation at the Gratkorn site in Austria, fuel conversion to biomass at the Kirkniemi site in Finland and the installation of a new electric boiler at the Maastricht plant in the Netherlands. Sappi’s decarbonisation targets for 2025 include reducing emissions of specific greenhouse gases (Scope 1 and 2) by 25 per cent and increasing the share of renewable energy in Europe to 50 per cent (compared to 2019). Sappi’s Stockstadt mill was founded in 1898 and is one of Sappi Europe’s ten production sites. The exiting of coal is expected to reduce annual emissions in Stockstadt by at least 100,000 tonnes of CO2. This corresponds to roughly one third of previous fossil emissions. Moreover, the project is expected to have numerous positive benefits for the environment in terms of less traffic, noise and waste.
Stora Enso invests in ACDF Industrie SAS and becomes a 35% shareholder of the French wood processing company. The investment is in line with Stora Enso’s growth strategy for mass timber building elements, enabling value-added, bespoke CLT (cross-laminated timber) solutions to its long-term French partners. ACDF Industrie SAS works with all engineered wood products like CLT, Glulam and LVL (laminated veneer lumber) and manufactures them into various value-added products such as walls, floors or roof elements for residential and non-residential buildings, mainly for the French market.
How do you meet your customer where they are? Longtime client Bryan Seeley, Marketing Director at BSW, sits down to chat with VP Account Strategist Lauren Ackerman about the varied strategies and tactics they've used to engage their passionate-yet-nerdy audience of broadcast engineers. watch the video at: https://www.jschmid.com/blog/brand-lounge-episode-2-engaging-a-unique-customer-base/
National Average Price for Regular Unleaded Current: $4.279; Month Ago: $4.164; Year Ago: $2.941. National Average Price for Diesel Current: $5.510; Month Ago: $5.077; Year Ago: $3.099.
American Dollar to Canadian Dollar = 0.777297; American Dollar to Chinese Yuan = 0.149831; American Dollar to Euro = 1.056617; American Dollar to Japanese Yen = 0.007659; American Dollar to Mexican Peso = 0.049546.
As banks, utilities, telecom companies and government agencies face mounting economic uncertainties, many of these services providers are looking to cut costs by encouraging their customers to switch from paper to digital communications. But all too often, these cost-cutting appeals are cloaked in unsubstantiated and misleading environmental marketing claims that suggest going paperless is “green,” “saves trees” or “is better for the environment.” “These greenwashing claims not only fail to comply with established environmental marketing standards, but they also damage consumer perceptions of paper’s environmental sustainability,” says Two Sides North America President Kathi Rowzie. “And that’s a threat to the economic security of millions of people in the United States and Canada whose livelihoods depend on the paper, print and mailing sector.” North America’s leading corporations and other service providers influence millions of consumers every day with their anti-paper greenwashing claims, leading many to believe that the use of paper is destroying forests and is bad for the environment. For example, a 2021 Two Sides survey of U.S. consumers showed that 60% believe that U.S. forests are shrinking, when in fact, U.S. net forest area increased by 18 million acres over the past 30 years – the equivalent of 1,200 NFL football fields every day – according to the U.N. Food and Agriculture Organization (FAO) Global Forest Resources Assessment. The UN FAO reports that Canada’s net forest area remained stable at around 857 million acres during the same period.
*Record net sales of $284.8 million, up 25 percent from the prior year, reflecting selling price actions to recover input costs and higher volume in both segments. Excluding the effects of the April 2021 Itasa acquisition and a facility closure, net sales were 12 percent higher. *Record net sales in Technical Products of $185.6 million were 28 percent higher than the prior year period. Excluding the effects of Itasa and the facility closure, net sales were 6 percent higher. *Net sales in Fine Paper and Packaging of $99.2 million, up 21 percent from the prior year, with strong organic growth in all categories. *As expected, operating income remained pressured by unprecedented increases in input and distribution costs and labor shortages. EBIT declined from $13.6 million in the first quarter of 2021 to $12.2 million this quarter. Excluding $12.5 million of unusual items in 2021 and $6.5 million in 2022, Adjusted EBITDA this quarter was $30.3 million compared to $35.7 million in the prior year. *In January, a fire occurred at our Brownville, New York manufacturing facility. Operations were fully restored before quarter-end, but the impact of repair costs and margin from lost sales was approximately $2 million. *On March 28, Neenah announced it has entered into a definitive all-stock merger of equals agreement with Schweitzer-Mauduit International, Inc. (NYSE: SWM). The combination is expected to form a global leader in specialty materials with combined annual revenues of approximately $3 billion and generate highly achievable, initial cost synergies of $65 million. The Form S-4 is planned to be filed by SWM shortly, and the transaction is on track to close in the second half of 2022.
Second Fiscal Quarter Highlights: Net sales of $3.8 billion, a 12% increase; Operating income of $341 million; Operating EBITDA of $555 million; Diluted earnings per share of $1.50; Adj. diluted earnings per share of $1.93; $350 million of share repurchases in 1H fiscal ‘22; Expect further opportunistic repurchases in 2H; Reaffirms fiscal 2022 adjusted earnings per share and free cash flow guidance
Berry Global Group, Inc. and Taco Bell are making strides toward a more circular approach to sustainable packaging with the launch of a new clear, all-plastic cup containing mechanically recycled post-consumer resin (PCR). The move represents progress by both organizations in meeting their publicly stated sustainability commitments: Taco Bell’s 2022 Commitments and Berry’s Impact 2025. Designed for circularity, the new, clear polypropylene (PP) cup will be testing in select Taco Bell U.S. restaurants in late 2022, with 30-ounce cups using 10% recycled, high-density polyethylene (HDPE). This conversion from Taco Bell’s virgin plastic cup and lid set will help divert waste from landfill and incineration while simultaneously improving its carbon footprint through the use of recycled plastic*.
*Record quarterly net sales of $5.4 billion increased 21.3% year-over-year *Net income of $40 million declined $73 million year-over-year, or 64.5%. Adjusted Net Income of $309 million increased $164 million year-over-year, growing 112.9% *Net income in the second quarter of fiscal 2022 was impacted by $363 million of pre-tax restructuring and other costs ($321 million of which was non-cash), or $1.04 per diluted share, primarily associated with the previously announced closure of the Panama City, Florida paper mill *Record second quarter Consolidated Adjusted EBITDA of $854 million increased 33.3% year-over-year *WestRock’s board of directors authorized an additional 25 million share repurchase program
*Revenue for the first quarter was $114.7 million higher than the previous year. Excluding the First American acquisition, which closed on June 1, 2021, revenue increased $31.4 million, or 7.1% year-over-year. *The Payments segment delivered revenue growth of 109.1% over the previous year to $166.2 million. Excluding First American, Payments grew 4.3%. *Net income of $9.7 million included $12.7 million of acquisition amortization from the First American acquisition, as well as an increase in interest expense of $15.8 million driven by the transaction. *Cash flow from operations for the first quarter was $34.3 million and capital expenditures were $20.8 million. Free cash flow was $13.5 million, a decrease of $4.4 million compared to the first quarter of 2021, partially driven by increased cash interest payments.
First Quarter 2022 Financial Highlights: • Total revenues of $748.1 million decreased 3.7% compared to the first quarter of 2021 ◦ Same store revenues(1) decreased 2.5% compared to the first quarter of 2021 • Total digital revenues were $251.1 million or 34% of total revenues, up 9.7% over the same period in the prior year on a same store(1) basis • Net loss attributable to Gannett of $3.0 million and margin loss of 0.4% • Cash provided by operating activities of $32.4 million • Free cash flow(1) of $21.7 million
Sonoco announced it has been pre-qualified for How2Recycle® Store Drop-off labels for the EnviroFlex™ PE line of mono-material flexible packaging products. The EnviroFlex brand is part of Sonoco’s sustainable packaging portfolio, EnviroSense®, packaging with tomorrow in mind. Sonoco recognizes the critical importance of developing sustainable packaging solutions that will better protect and preserve the planet for future generations. The EnviroSense line supports Sonoco’s purpose of Better Packaging, Better Life. EnviroFlex™, a suite of sustainable flexible packaging options, includes solutions focused on recyclability, compostability and the use of post-consumer recycled content. Within the offering of recycle-ready solutions, the following items have received the How2Recyle pre-qualification for the Store Drop-off recyclable label: *EnviroFlex™ PE Premade Pouches and Rollstock *EnviroFlex™ PE Bags *EnviroFlex™ PE Cold Seal Flow Wrap
Greif, Inc. announced that it is implementing a $50 per ton price increase for all grades of uncoated recycled paperboard (URB) and coated recycled paperboard (CRB). The recycled paperboard increase is effective with new orders and shipments on and after June 6, 2022. These price increases are in response to inflationary cost increases in transportation, energy, labor, chemicals, maintenance, and other raw materials and continued strong demand across the Greif paperboard and converting network.
The SGP Partnership, announced Simpson Print of Bloomingdale, ON, Canada has achieved its sustainability certification. From wide format to UV offset, digital and more, Simpson Print has a range of printing capabilities from packaging to retail displays, signage and fixtures. “Simpson Print has long since recognized the significance of sustainability within the marketplace,” said Carla Johanns, Simpson Print president. “SGP certification offered the most credible and robust resources to align our staff and customers, as we plan for a cleaner and more efficient future. Our primary objective is to be leaders in reducing our carbon footprint and taking the courageous steps required for the brands and retailers that demand sustainable action from their supply chain and vendors.”
Paper Excellence announced today that it is nearing completion of a significant project to winterize the pulp mill at Prince Albert Pulp Inc (PAPI). Winterizing the mill means that the interior of the mill is now heated for the first time since 2014, when the site last operated. The project will cost approximately $500,000. “Winterizing and heating the interior of the mill is another step forward as we keep working on restarting PAPI,” said Carlo Dal Monte, VP of Energy and Business Development for Paper Excellence. “As we all know, Prince Albert winters can be very cold, so being able to heat the interior of the mill means a safer working environment for our team and contractors that may be on site with us. Winterizing the mill also helps to prevent weather-related damage to the exterior of the mill and important infrastructure inside.”
QUARTERLY DATA - Net sales grew by 13% to SEK 7 397 million (6 520). Excluding currency effects net sales increased by 11% Adjusted EBITDA* increased to SEK 1 664 million (1 003), corresponding to an adjusted EBITDA margin of 22% (15%) Operating profit was SEK 1 189 million (528), Net profit was SEK 884 million (377) Earnings per share amounted to SEK 4.27 (1.82)
Georgia-Pacific recently announced plans to upgrade areas of its 640-acre Muskogee bath tissue, towel and napkin manufacturing operations. The Muskogee Mill has proposed investments of more than $50 million during the next three years to improve the safety, reliability and efficiency of operations, in addition to the investment of a new production line and equipment. “These investments will help Georgia-Pacific continue our focus on transforming manufacturing equipment and processes that result in better employee safety, environmental performance, reliability and quality,” said Amy Borovich, Muskogee Mill Facility Leader. “We appreciate the support from all of our Muskogee community partners, including the Muskogee City-County Port Authority, City of Muskogee and the City of Muskogee Foundation.” Georgia-Pacific’s Muskogee Mill employs more than 700 people, making it the largest private employer in the city. The mill makes bath tissue, paper towels and napkins for both retail and away-from-home markets, including such well-known consumer brands as Sparkle®.
Lecta is expanding its range of Adestor self-adhesive materials and services with the launch of the new line of Adestor Standard Films adhesive film products. This new line of standard products includes both polypropylenes, which offer rigidity and high transparency, as well as polyethylenes, which fit perfectly on flexible or compressible packaging, with various finishes and thicknesses that cover a broad range of applications. The launch of this new line also represents an increase in our services for roll products, including the grades most in demand in the Exact Cut program, allowing on-demand product widths to be ordered at preset reel lengths. The entire Adestor range is manufactured in accordance with the ISO 14001 and EMAS environmental standards, the ISO 50001 energy management standard, the ISO 9001 quality standard, and the ISO 45001 occupational health and safety standard.
Mondi delivered strongly in the first quarter of 2022. Demand was good across the business, supported by our broad range of innovative, sustainable packaging and paper solutions, product quality and customer service. Higher average selling prices more than offset continued cost pressures. Underlying EBITDA for the first quarter was €574 million, up 63% compared to the prior year period (Q1 2021: €353 million) and up 41% on a sequential basis (Q4 2021: €406 million). In the current context, the Group believes it is appropriate to report that excluding the Russian operations, underlying EBITDA for the first quarter was approximately €460 million, up around 70% compared to the prior year period. This performance is testament to the continued dedication of our people, our strong customer relationships and the strength of our integrated business model.
The company reported operating income of $235 million in the quarter, compared to an operating loss of $101 million in the fourth quarter. The improvement reflects higher selling prices in all segments ($206 million) and the net favorable impact of the indefinite idling of pulp and paper operations at the Calhoun (Tennessee) mill ($7 million). This was partially offset by lower shipments as a result of logistics constraints ($29 million), as well as higher fiber ($25 million) and freight expenses ($8 million). The company recorded lower selling, general and administrative expenses ($7 million), mainly due to lower share-based compensation expenses in the quarter. The prior quarter results were unfavorably affected by charges related to the indefinite idling of pulp and paper operations at the Calhoun mill ($171 million).
Deluxe has entered into an agreement with BillGO, one of the industry’s largest bill payment platforms and fintech trailblazer, to provide digitized check delivery of payments through the Deluxe Payment Exchange Network. The Deluxe Payment Exchange (DPX) is a digital payment platform for businesses of all sizes that allows payers options in how payments are made – digitally through a direct feed to a lockbox, through the issuance of an eCheck, or printed and mailed. The DPX platform also provides the recipient options to receive the payment. Deluxe and BillGO have leveraged the power of their respective networks and by linking their innovative technologies to identify payment preferences and electronic delivery addresses, have developed a “network-of-networks,” opening the door to other faster payment methods for customers of both companies.
The New York Times Company announced first-quarter 2022 diluted earnings per share from continuing operations of $.03 compared with $.24 in the same period of 2021. Adjusted diluted earnings per share from continuing operations (defined below) was $.19 in the first quarter of 2022 compared with $.26 in the first quarter of 2021. Operating profit decreased to $6.3 million in the first quarter of 2022 from $51.7 million in the same period of 2021 largely as a result of one-time costs related to the acquisition of The Athletic Media Company (“The Athletic”), which occurred in the first quarter of 2022, as well as a result of operating losses at The Athletic. Adjusted operating profit (defined below) decreased to $60.9 million from $68.1 million in the prior year, as a result of operating losses at The Athletic. Adjusted operating profit at The New York Times Group was largely unchanged at $67.7 million as digital subscription and advertising revenue growth was offset by higher costs.
*Total reported sales of $2.2 billion, flat versus last year; higher sales in our BSD division, partially offset by lower sales in our Retail division driven by 114 fewer retail locations in service compared to the prior year as a result of planned store closures *GAAP operating income of $76 million and net income from continuing operations of $55 million, or $1.09 per diluted share, versus $69 million and $63 million, or $1.12 per diluted share, respectively in the prior year *Operating cash flow from continuing operations of $30 million and adjusted free cash flow of $16 million, versus $103 million and $96 million, respectively in the prior year *$1.4 billion of total available liquidity including $557 million in cash and cash equivalents
The need for sustainably produced packaging materials that promote the circular economy is growing worldwide. Metsä Board, part of Metsä Group, is a leading European producer of fresh fibre paperboards and a forerunner in sustainability. The company's fresh fibre paperboards are resource-efficient and help reduce the carbon footprint of packaging throughout the value chain. Global demand for high-quality fresh fibre paperboards has grown by around 2–3% per year in recent years and is expected to continue to grow at least at the same rate in the future. According to its strategy, Metsä Board aims to grow in fibre-based packaging materials and renew its industrial operations. To support its customers' growth and strengthen its service capability, the company is exploring possibilities to increase its folding boxboard capacity in Finland or Sweden. The evaluation of options is expected to be completed by the end of 2022. Metsä Board's current annual paperboard capacity is approximately 2 million tonnes, of which 1.3 million tonnes is folding boxboard and 0.7 million tonnes white kraftliners. The company is Europe’s largest producer of folding boxboard and white kraftliners.
*Increased Net Sales 5% in the first quarter of 2022, or 9% sales growth excluding divestitures, driven by increased pricing in response to inflationary cost pressures; print segment share gains from new clients; and Net Sales growth in Targeted Print and Agency Solutions. *Reported Net Loss of $1 million and Adjusted EBITDA of $49 million in the first quarter of 2022, compared to Net Earnings of $10 million and Adjusted EBITDA of $70 million in the first quarter of 2021. *Implemented additional price increase, effective May 15, 2022, to help offset inflationary cost pressures.
“USPS Connect™ eCommerce makes it easier for online marketplaces and shipping platforms to work directly with the Postal Service and offer their customers access to discounted rates,” said Jacqueline Krage Strako, Chief Customer and Business Solutions Officer for the United States Postal Service. As small and medium businesses grow and their shipping needs become more complex, they look to online marketplaces and shipping platforms for solutions. Through USPS Connect™ eCommerce, the Postal Service will best serve this growing customer base by offering them discounted rates.
Highlights - Nine Months Ended March 31, 2022 • Net sales of $10,635 million, up 13%; • GAAP Net Income of $696 million, up 2%; GAAP earnings per share (EPS) of 45.6 cents per share, up 4%; • Increasing returns to shareholders: quarterly dividend increased to 12.0 cents per share; $600 million ofshare repurchases expected in fiscal 2022; RoAFE increased to 16%; and • Fiscal 2022 outlook for adjusted EPS growth raised to 9.5-11% on a comparable constant currency basis(previously 7-11%). Adjusted Free Cash Flow of approximately $1.1 billion.
Aptar CSP Technologies, will preview its first-ever active bottle featuring post-consumer recycled (PCR) content at VitaFoods Europe, Booth J60, May 10-12 in Geneva, Switzerland. The new PCR active bottles are now part of Aptar CSP Technologies’ Activ-Vial™ solutions portfolio. As with the rest of the active packaging portfolio, the company’s proprietary 3-Phase Activ-Polymer™ platform technology is fully integrated into the bottle to create a microclimate to protect against moisture and other environmental conditions. Unlike traditional packaging options, the technology co-molds highly-engineered active particles into the bottle, scavenging moisture before it reaches the contents inside. Incorporating PCR content into its Activ-Polymer™ solutions is a step toward materials circularity, as sustainability becomes increasingly important to brand owners and their customers in the probiotic and nutraceuticals space.
Smurfit Kappa UK Limited has announced the acquisition of Atlas Packaging. Atlas Packaging, based in Barnstaple, North Devon, is an independent corrugated packaging provider. The company is well invested with a strong market presence in the UK which allows them to meet the needs of and deliver value to its broad customer base. With a particularly strong presence in shelf ready packaging, gift boxing and the e-commerce sector, they offer an exciting and broad range of innovative products.
Tetra Pak announces the launch of the pioneering land restoration initiative The Araucaria Conservation Programme in Brazil, marking the industry’s first nature-based restoration project. The ambition is to generate positive environmental, economic and social benefits for local communities and restore and protect biodiversity in the region. Developed in collaboration with Apremavi, a Brazilian NGO specialising in conservation and restoration projects since 1987, the initiative is set to restore at least 7,000 hectares over a period of ten years – equivalent to 9,800 football pitches – of the Atlantic Forest, one of the richest biomes and the second most endangered in the world. Originally, this rainforest covered 17 Brazilian states, but today only 12 per cent of its original area is preserved, putting thousands of species that do not exist elsewhere at risk. The Araucaria Conservation Programme will target an area of particular risk, the Forest of Araucarias, which today only has 3 per cent of its original area preserved.
Rayonier Advanced Materials Inc. reported a net loss of $25 million or $(0.39) per diluted share for the quarter ended March 26, 2022, compared to net loss of $27 million or $(0.43) per diluted share for the same prior year quarter. The net loss from continuing operations for the quarter ended March 26, 2022 was $24 million or $(0.38) per diluted share, compared to net loss from continuing operations of $16 million or $(0.26) per diluted share for the same prior year quarter. The increase in the diluted loss per share was driven primarily by higher key input costs. Loss from discontinued operations for the quarter ended March 26, 2022 was $1 million or $(0.01) per diluted share, compared to a loss from discontinued operations of $11 million or $(0.17) per diluted share for the same prior year quarter. The Company sold its lumber and newsprint assets in the third quarter of 2021, and as a result, reclassified prior year amounts to conform to the presentation for discontinued operations.
The investment in new bleaching technology will increase the capacity of the mill and support Stora Enso’s ambitious climate targets. In addition, it will improve operational performance, enhance the overall efficiency of mill maintenance and thus reduce the site’s carbon footprint. Delivery is on EPC basis and includes the installation of two COMPACT PRESS wash presses, a new reactor, an effluent fiber filter, and MC equipment – all from ANDRITZ. The COMPACT PRESS wash press is characterized by its small footprint and high availability, including extremely good washing efficiency, thus ensuring high-quality production and highest pulp cleanliness. For added sustainability and circularity, the mill will reuse the Stora Enso Oulu mill’s bleaching reactor (also supplied by ANDRITZ) and some of the mixers there.
UPM Raflatac and the Finnish Paperworker’s Union signed a business specific collective labour agreement on April 22, 2022. As a result, the Paperworker’s Union’s strike at the Tampere factory in Finland ended on the same day and employees returned to work on April 25. The production ramp-up has proceeded as planned. Production volumes reached normal levels during the first week after the strike. “We are pleased that a new business-specific agreement is now reached with the Finnish Paperworkers’ Union, enabling us to better serve our customers in the future. The agreement allows for additional production flexibility at our Tampere factory and gives us the ability to better respond to demand peaks. Increased capacity utilization also opens future opportunities for employment,” says Antti Jääskeläinen, Executive Vice President, UPM Raflatac.
UPM Biochemicals and KRAHN Chemie Deutschland GmbH signed an exclusive distribution agreement to market UPM BioMotionTM Renewable Functional Fillers (RFF) in Germany, Austria and Switzerland. RFF are a completely new category of functional fillers, replacing fossil-based carbon black and precipitated silica. The distribution agreement covers UPM BioMotion™ X10, X20 and X40 product grades to be used in plastics, adhesives and sealants as well as paints and coatings. UPM BioMotion™ Renewable Functional Fillers (RFF) have a significantly lower CO2 footprint compared to traditional, oil-based products. They enable companies to respond to drastically changing market conditions, increasing consumer demands for advanced product sustainability and to make a tangible contribution to achieving the 2050 climate targets.
*Reported Revenue Increased 18%; *Diluted EPS Increased 43% to $4.47; *Reported Operating Profit Margin Increased 2,560 Basis Points to 79.2% *Revenue Growth was Driven by Strength Across Five of Six Divisions, Offset by a Sharp Decline in Revenue Related to Debt Issuance *Merger-Related Divestitures Announced or Completed
FSC invites stakeholders to participate in this consultation process by responding to the questions found in the FSC Consultation Platform pertaining to different sections of the FSC Remedy Framework. In addition, FSC also wants feedback on specific sections of the FSC Policy to Address Conversion, which have been developed based on previous stakeholder consultations, and additional questions concerning the revised version of FSC Policy for Association. Descriptions of the different elements and sections open for stakeholder feedback are available in the FSC Consultation Platform. FSC is pleased to share a set of easy to navigate and visual communication material that unravel the interlinkages and complexities of this package of work around conversion and remedy. They are: • Informational Booklet • FAQs • Sample cases
“I believe the future is wood,” says Clodagh O'Reilly, a speaker at the 2022 PEFC Stakeholder Dialogue, taking place on 12 May in Dublin. “The forestry sector needs to stand together and promote the use of sustainably sourced wood.” Clodagh is the Sales and Supply Chain Director at the forestry business Coillte Forest. She has been working with Coillte for the past 14 years in a variety of finance and operational management roles. Ahead of the Stakeholder Dialogue, we spoke to her about the enormous potential of sustainable forest management for a low carbon economy, and the role of forest certification in the forestry sector.
Sonoco announced it is implementing a $50 per ton price increase for all grades of uncoated recycled paperboard (URB) in the United States and Canada, effective with shipments beginning May 30, 2022. Sonoco said the price change reflects continued tight market conditions and inflationary pressures on manufacturing costs, including energy, freight, chemicals, packaging materials and labor. “Unfortunately, the conditions that challenged us in 2021 have not dissipated in 2022. We continue to be challenged by strong demand, increasing backlogs and inflating costs,” said Tim Davis, Division Vice President and General Manager, Paper – U.S. and Canada.
*Net sales of $1.4 billion, up 12% as reported; up 15% constant currency *Net earnings of $150 million, up 41%; EPS of $1.00, up 47% *Cash flow from operations of $48 million, down 39% *Accelerating growth investments, CapEx of $67 million, up 53%, in 2022
As a proud SPC member and SPC Impact event sponsor, Pregis is excited to share our top takeaways from the conference: A) The journey is long but achievable. All stakeholders at every stage of the value chain must collaborate together to drive systemic change. B) The evolving regulatory landscape presents a unique opportunity for packaging manufacturers. Eco-Modulation is one example driving material selection and product design. C) Recycling technology is an undeniable part of the solution. We must work diligently to improve both mechanical and chemical recycling processes.
Specialty Print Communications, (SPC), a direct mail & digital solutions provider, announced that it has completed its SOC 2 Type II audit, performed by KirkpatrickPrice. This attestation provides evidence that SPC has a strong commitment to security and to delivering high-quality services to its clients by demonstrating that they have the necessary internal controls and processes in place. A SOC 2 audit provides an independent, third-party validation that a service organization’s information security practices meet industry standards stipulated by the AICPA. During the audit, a service organization’s non-financial reporting controls as they relate to security, availability, processing integrity, confidentiality, and privacy of a system are tested. The SOC 2 report delivered by KirkpatrickPrice verifies the suitability of the design and operating effectiveness of SPC’s controls to meet the standards for these criteria.
Interfor Corporation announced that its wholly owned subsidiary, Interfor East Ltd. , has acquired a total of 28,684,433 common shares in the capital of GreenFirst Forest Products Inc. (“GreenFirst”) from Rayonier A.M. Canada G.P., which represents approximately 16.2% of GreenFirst’s issued and outstanding common shares. The total cash consideration was approximately C$56 million, or C$1.94 per share, and certain price protection provisions will apply in limited circumstances during a defined period following the transaction. This acquisition was made for investment purposes and builds upon, and is complementary to, Interfor’s recent expansion into Eastern Canada through the acquisition of EACOM Timber Corporation in February 2022.
Rayonier Advanced Materials Inc. announced that it has sold 28,684,433 common shares of GreenFirst Forest Products Inc. to a wholly-owned subsidiary of Interfor Corporation for approximately $43.3 million. The agreement contains a Purchase Price Protection clause whereby the Company is entitled to participate in further stock price appreciation under certain circumstances and for a specified period. Consistent with prior communications, the Company expects to use cash proceeds from this transaction to opportunistically repay debt or assist with a holistic refinancing of its capital structure, including its Senior Notes due on June 1, 2024.
Overview • Q1 2022 reported operating income of $742 million driven by strong lumber segment results with near record-high North American lumber pricing and strong earnings for the Company’s European lumber operations • Shareholder net income of $534 million, or $4.29 per share • Completed acquisition of Millar Western Forest Products Ltd.’s (“Millar Western”) solid wood operations and associated tenure for $440 million, including net working capital • Announced $165 million (US$130 million) investment in the US South to significantly upgrade and expand Urbana’s sawmill and planer facility • Announced the implementation of a comprehensive plan to achieve net-zero carbon emissions by 2050
• Q1 2022 reported operating loss of $26 million; net loss of $20 million, or $0.31 per share • Notable uptick in global US-dollar pulp list prices in Q1; ongoing global supply chain challenges resulting in majority of price gains being realized in Q2 and Q3 • Lower furnace rebuild of recovery boiler number one (“RB1”) completed mid-April; focused on optimizing production performance going-forward • Together with Canfor Corporation, announced the implementation of a comprehensive plan to achieve net-zero carbon emissions by 2050 • Available liquidity of $111 million at March 31, 2022
The Huhtamaki Foundation inaugurated its first recycling plant in Khopoli, Maharashtra today to help drive circularity for packaging. The site – which is spread across 2,000 square meters – will recycle about 1,600 kilograms of post-consumer used flexible plastic waste per day from early May as the plant becomes fully operational. The Central Pollution Board of India (2012) estimates that India generates close to 26,000 tonnes of plastic waste a day and a little over 10,000 tonnes a day of plastic waste remains uncollected. The recycling plant was set up with an investment of INR 90 million as part of the Huhtamaki Foundation’s #CloseTheLoop initiative to tackle post-consumer waste to deliver a valuable secondary resource material. It will process post-consumer waste to create resin to produce refined compounds to be used for household products for consumers in India.
Through the first three weeks of the third quarter, the average time for delivery of a mailpiece across the postal network was 2.4 days. Third quarter service performance scores covering April 1 through April 22 included: *First-Class Mail: 93.4 percent of First-Class Mail delivered on time against the USPS service standard, an increase of 5.5 percentage points from the fiscal second quarter. *Marketing Mail: 94.9 percent of Marketing Mail delivered on time against the USPS service standard, an increase of 2.8 percentage points from the fiscal second quarter. *Periodicals: 87.0 percent of Periodicals delivered on time against the USPS service standard, an improvement of 5.5 percentage points from the fiscal second quarter.
In Texas, libraries are a political battleground. On the same day that the Texas Library Association convened its annual convention in person for the first time since 2019, attendees learned that residents of Llano, a rural county outside Austin, were fighting back against efforts by Republican politicians to censor local libraries. It was, perhaps, a sweeter irony that the TLA’s conference, which ran April 25–28, was held in Fort Worth, in the district of state representative Matt Kraus. Kraus started a campaign to ban books in Texas last October, when he sent a letter to the Texas Education Agency asking school districts to investigate the presence of more than 850 diverse and inclusive books in school libraries. Remarking on the news from Llano, Darryl Tocker, executive director of the Tocker Foundation, the state’s most prominent charity involved in supporting rural public libraries, told PW, “It’s wrong what is happening in public libraries. There’s no other word for it.”
Siegwerk Druckfarben AG & Co. KGaA, one of the leading international suppliers of printing inks for packaging applications and labels, has signed a contract to purchase the Italian ink manufacturer La Sorgente Spa. The family-owned company is located in Poppi (Arezzo), Italy, and manufactures high-quality water-based flexographic inks for paper & board applications as well as solvent-based inks for flexible packaging. Founded in 1929, the company is one of the most important ink suppliers for flexographic printing in Italy today. With this acquisition, Siegwerk further expands its product portfolio for packaging printers while concretely strengthening its local footprint in the Italian market. “La Sorgente Spa is a well-established ink expert for paper & board as well as flexible packaging applications with a strong reputation in Italy. Its ink solutions fit perfectly into our product portfolio,” says Dirk Weißenfeldt, Vice President Flexible Packaging EMEA at Siegwerk. The purchase will enable Siegwerk to significantly expand its presence while building up its infrastructure and workforce to further grow in Italy.