Effective 1st January 2023, Flint Group will implement a global price increase in order to respond to continued inflationary pressures across multiple cost drivers. Following an extended period of volatility and cost escalation during the global coronavirus pandemic, it is clear that we are now witnessing a fundamental shift in global economic conditions. Markets around the world are grappling with extreme inflationary pressures and the disruption of global supply chains. Flint Group has continued to endure extraordinary cost increases in raw materials, packaging and freight which are now being exacerbated by additional inflationary pressures across a variety of other overheads - labour costs in particular.
HP showcased the HP Indigo V12 Digital Press to the labels and packaging industry for the first time alongside the HP Indigo 6K Digital Press and a wide range of solutions for sustainable packaging, automation and applications propelling new business opportunities. Many HP customers and partners, both longstanding and new, visited the HP booth. In total, 74 demonstrations of the HP Indigo V12 and 34 demonstrations of the HP Indigo 6K took place, giving attendees the chance to experience the capabilities of each press up close, and learn more about new business opportunities, including brand protection, smart packaging, sustainable packaging and diversification to flexible packaging.
Sun Chemical has launched SUNFOODSTM Natural Colorants, a product line available in the Americas, Europe, Middle East, and Africa that can match a wide array of industry standard and custom colors that can be applied to a variety of food and beverage products. This new line of natural colorants will be introduced under the “Inspired by nature” campaign to the food and nutrition marketplace at booth #1939 during Supply Side West in Las Vegas from October 31 to November 4. “Building on more than 40 years of experience cultivating natural food ingredients and natural color extraction, we’re excited to showcase our new SUNFOODS Natural Colorants product line at the premiere gathering of food and nutrition professionals worldwide,” said Sophia Jin, Business Manager Americas and EMEA, Food and Nutrition, Sun Chemical.
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 recognizes that sustainability has never been more important to brand storytelling. As sustainability stories have become more sophisticated, so have the material inputs used that drive their narratives. Experience Mohawk’s Sustainable papers as they were intended with the release of the “The Material is the Message” inspiration piece.
When we create a new brand, or refresh an existing one, we’re tapping into brand clarity, conveying that key, driving purpose. When we’re creating marketing assets on behalf of a client, the brand has to be in the forefront of our minds. With each touchpoint, each interaction, we know that when we’re reinforcing what you stand for we’re going to connect in a much deeper way. So it’s no wonder that branding, and our clients’ brands, are a huge part of what we think about, talk about and write about. We’ve rounded up this collection of our favorite musings on branding that gives some insight into the thinking, passion and creativity that goes into everything that we do. Enjoy. go to: https://www.jschmid.com/branding-best-practices/
National Average Price for Regular Unleaded Current: $3.797; Month Ago: $3.844; Year Ago: $3.189. National Average Price for Diesel Current: $4.876; Month Ago: $5.073; Year Ago: $3.331.
American Dollar to Canadian Dollar = 0.727707; American Dollar to Chinese Yuan = 0.140517; American Dollar to Euro = 0.975248; American Dollar to Japanese Yen = 0.006915; American Dollar to Mexican Peso = 0.049653.
Dear Industry Member: As we reported to you on Sept. 9th, Rep. Gerry Connolly (D-VA-11th) introduced the Ensuring Accurate Postal Rates Act (H.R. 8781), which would require the Postal Regulatory Commission to conduct a follow-up review of the postal rate-making process. Here’s a brief backgrounder and steps on how you can help this vital bill gain traction through the pending appropriations process: • Review our Sept. 9th announcement and more - click on read more below Why This Action? Mailers got virtually nothing out of the $10B granted by Congress to the USPS as part of the CARES Act. It went to the USPS’s cash position. The PRC’s November 2020 review formula did not consider the Covid-fueled boom in parcel volume for the Postal Service. Also, the PRC’s density formula treated the density change as a volume change to all delivery points, and thus neglected the profitability of the new delivery points and the volume they bring. Instead, the PRC review allowed for the USPS to break the CPI cap and begin instituting two rate hikes per year. This needs to be curtailed and you can help. And ACMA is here to help you in the process by simply responding to this email for our support.
Savvas Learning Company is proud to announce that its myPerspectives English Language Arts (ELA) program has been named the “Best Reading/Writing/Literature Instructional Solution for Grades 9-12” in the 2022 SIIA CODiE Awards for Education Technology. myPerspectives is a powerful, standards-aligned ELA curriculum that values the perspective of the learner and prepares students to become lifelong readers, writers, and thinkers. A CODiE award judge praised myPerspectives as “really exceptional in its ability to save educators time in creating customized and engaging content for students to interact with. I love that texts include multiple ways to engage, whether it's fiction, videos, news articles, or even podcasts. It's clear that the tool was designed by educators and with students in mind. I also appreciate that there is intentionality in providing diverse texts that are culturally relevant.”
Sonoco announced it has entered into a definitive agreement to acquire S.P. Holding, Skjern A/S, a privately owned manufacturer of paper based in Skjern, Denmark. The acquisition expands production capacity for customers and Sonoco converting operations throughout Europe and bordering regions. The estimated $88 million (675 million DKK) all-cash transaction has been unanimously approved by Sonoco’s Board of Directors and is expected to be completed in the fourth quarter of 2022, subject to customary closing conditions. Founded in 1965, Skjern is a leading producer of high-grade paperboard from 100% recycled paper for rigid paper containers, tubes and cores, and other applications. The company has robust sustainability programs in place for renewable energy and CO2 emission reduction and operations are powered by a biomass boiler, which reduces reliance on natural gas. In 2022, Skjern is expected to achieve annual sales of $50 million and the transaction is expected to be immediately accretive to both earnings per share and cash flow.
Metsä Tissue's renewed tissue paper machine at the Mänttä mill has moved from the trial run phase to continuous production. The renewed paper machine will be used to produce fresh fibre-based tissue paper products especially for the Finnish market. The upgrade will increase the production capacity of the tissue paper machine by 15 per cent, as well as improve product quality and energy and production efficiency. The renewal is an investment in increasing the production and improving the quality properties of Lambi, Serla and Katrin tissue paper products manufactured locally in Mänttä. The first products were trialled in June and the softness and strength of the paper have further improved. The new technology also enables tissue paper to be produced more energy-efficiently than before. The main machine supplier for the renewal was Valmet.
Worzalla, an employee-owned book printer specializing in high-quality children's books, cookbooks, and hard-cover best sellers, recently hosted 12 associates from some of the nation's most prominent book publishers at its "Print University". The program is a 3-day long intensive workshop designed to educate those who work in the publishing industry about the book manufacturing process. "Worzalla was pleased to welcome our publisher partners to Stevens Points and to our facilities. I enjoy sharing the book printing process and my team also learns a lot about what's new in publishing from our participants," said Richard Letchinger, Vice President of Sales and Marketing at Worzalla and the organizer of Print University. "Especially since books sales have grown in the last few years, it is invaluable to able to exchange ideas with our partners about the future of our industries." This year's graduates included Madison Oxx and James Neel of HarperCollins Publishers, Vincent Perez and Luke McCord of Penguin Random House, Emily Kleinburg, Chris Leonowicz, and Carolyn Telesca of Macmillan, Rosalie Khan and Jennette Cross of Hachette, Maggie Moore and Rachael Marks of Abrams and Kenneth Burnett of Ramsey Solutions.
Sun Chemical’s Color Materials division opened a state-of-the-art, energy-efficient mixing plant in Cologne, Germany. Sun Chemical Color Solutions, the masterbatch business of the Color Materials division, is responsible for the development, manufacture, and distribution of masterbatches to the plastics industry. The new mixing plant enables Sun Chemical to produce more efficiently and meet the plastics industry’s increasing quality requirements. Digitalized and automated processes, along with optimized internal transport routes, allow Sun Chemical to react more quickly to changes in customer requirements. The facility comprises over 1,700 square meters of floor space to ensure an increase in production capacity.
Georgia-Pacific has announced plans to invest more than $425 million to build a Dixie facility in Jackson, the largest single investment in the city’s history. Once operational, the plant will employ more than 200 people and produce well-known tableware products, including the Dixie® and Dixie Ultra® lines of plates and bowls. The 900,000-square-foot facility will sit on 241 acres west of the city. Construction is slated to begin by the end of the year and startup is expected in the summer of 2024. The fully air-conditioned workspace will include a printer, associated plate forming converting assets, and other state-of-the-art manufacturing technology. Georgia-Pacific directly employs approximately 460 people and operates six facilities in Tennessee.
Sappi Limited announced today that it has concluded an agreement with AURELIUS Investment Lux One S.à.r.l. regarding the divesture of its Maastricht Mill in the Netherlands, its Stockstadt Mill in Germany and its Kirkniemi Mill in Finland. Steve Binnie, CEO of Sappi Limited commented: “We are very happy to have reached agreement with AURELIUS to take ownership of the three mills. Although they no longer fit in Sappi’s portfolio, they are strong assets with good people." The mills included in the sale: Sappi Maastricht Mill produces 260,000 ton per annum (tpa) of coated woodfree paper and paperboard mainly sold to printers and packaging converters globally Sappi Stockstadt Mill is an integrated pulp and paper mill located in Germany, producing 145,000 tpa of pulp which is used to produce 220,000 tpa of coated and uncoated woodfree paper mainly sold into the European print market. Sappi Kirkniemi Mill is an integrated pulp and paper mill located in Finland, producing 300,000 tpa of bleached mechanical pulp which is used to produce approximately 750 000 tpa of a variety of coated mechanical paper grades used in the print publication industry globally.
Berry Global Group, Inc. is collaborating with snack and treats leader Mars, Incorporated to launch its popular pantry-sized treats in polyethylene terephthalate (PET) jars that have been optimized to be lighter weight and include 15% post-consumer resin (PCR). With the shared mission of creating more sustainable packaging solutions, Berry and Mars will launch the new jars for the M&M’S®, SKITTLES®, and STARBURST® brands later this month. The easy-grip square jars are produced at Berry’s manufacturing facility, using a single-pellet, food-grade resin to assure a clean, consistent substrate sourced from mechanical recycling. With a history of results in light-weighting, Berry approached Mars with the new concept including PCR. Berry brought its problem-solving and technical expertise to the table to help Mars make progress toward their sustainability goals. In addition to the inclusion of PCR, the jar is also widely recyclable.
UPM has set a target to increase the amount of deadwood in its commercial forests from the current level of about five cubic metres per hectare to ten cubic metres per hectare. In UPM's protected areas and commercial forests where a specific nature management target has been set, the deadwood target is 20 cubic metres per hectare. The new targets are part of UPM Forest Action, the UPM Forest Responsibility programme. In 2018, UPM set itself the target of increasing biodiversity in its forests in Finland while efficiently producing high-quality wood raw material. Biodiversity is measured by comparing natural forests with commercial forests. Studies have shown that one clear difference between these two types of forests is the amount of deadwood. UPM's success in increasing biodiversity is measured not only by the amount of deadwood, but also by other indicators such as the amount of broadleaved trees and the number of protected areas.
Last month, a federal appellate panel revived claims that ad-tech company NaviStone violated a Pennsylvania wiretap law by allegedly tracking users who visited online retail sites. Since then, at least 10 new lawsuits with similar allegations have been filed against other web companies -- including online pet store Chewy.com, travel service Expedia, and real estate company Zillow.com -- NaviStone's lawyers said in papers filed Friday with the 3rd Circuit Court of Appeals. In a letter filed Friday with the appellate court, NaviStone's lawyers write that the new cases “illustrate that the panel’s decision effectively renders any company with a website accessible in Pennsylvania” subject to a lawsuit alleging violations of the state's wiretap law. NaviStone is calling attention to the new cases to bolster its request that the 3rd Circuit reconsider its recent ruling.
Sonoco ThermoSafe and United Cargo are pleased to announce a global lease agreement for the new Pegasus ULD® temperature-controlled bulk shipping container. The agreement enables pharmaceutical freight forwarders access to Pegasus ULD® containers directly from United Cargo. Sonoco ThermoSafe’s Pegasus ULD® is the world’s first FAA and EASA-approved passive bulk temperature-controlled ULD container for pharmaceutical use, which enables it to speed through international air freight handling and customs processes at the lowest possible cost. With a focus on sustainability, the Pegasus ULD® is engineered with composite materials, offering a lighter solution that is also substantially more damage-resistant than traditional metal containers. Additionally, the Pegasus ULD® contains a fully integrated, FAA-approved telemetry system providing real-time, cloud-based data on payload and ambient temperature and key environmental factors, precisely synchronized with GPS location.
Total European shipments of graphic papers for July 2022 were down 12.0% vs. July 2021 and were down 10.5% year-to-date. Total European shipments of newsprint for July 2022 were down 11.0% vs. July 2021 and were down 7.4% year-to-date. Total European shipments of sc-magazine for July 2022 were down 27.5% vs. July 2021 and were down 13.6% year-to-date. Total European shipments of coated mechanical reels for July 2022 were down 14.8% vs. July 2021 and were down 20.2% year-to-date. Total European shipments of uncoated mechanical (improved & others) for July 2022 were down 19.7% vs. July 2021 and were down 13.3% year-to-date. Total European shipments of coated woodfree for July 2022 were down 5.7% vs. July 2021 and were down 0.3% year-to-date. Total European shipments of uncoated woodfree for July 2022 were down 5.8% vs. July 2021 and were down 11.0% year-to-date.
Modernisation of the power plant boiler at Sappi’ s production site in Gratkorn, Austria, is finally completed. As of now, more sustainable fuels will be used instead of coal to power the paper machines at the company’s largest mill in Europe. During a transitional phase, the new state-of-the-art boiler will run on natural gas and biomass. In the future, predominantly biomass will be used. “Our ultimate goal is to use only sustainable and renewable fuels. This will make us more independent in the future, especially in times of gas shortages and uncertainty on the energy market,” explains Sappi Gratkorn Managing Director Max Oberhumer. By entirely phasing out coal, the Gratkorn plant is making an important contribution to climate protection and reducing its greenhouse gas emissions by roughly 30 per cent. The project is a top priority on Sappi Europe’s sustainability agenda. The 35 million euro investment represents a clear commitment to the Gratkorn site and shows that climate and environmental protection are deemed pivotal in the paper industry. More information on the shift from coal to renewable resources at Sappi’s Gratkorn mill is available at: www.sappi.com/co-creating-a-shift-from-coal-to-renewables-at-gratkorn-mill
UK paper making has been dealt a further blow after Arjowiggins Group’s UK operations – including the historic mills at Stoneywood and Chartham – were placed into administration after the business became unsustainable in the face of spiralling costs for energy and raw materials. Administrators Blair Nimmo and Alistair McAlinden from Interpath Advisory were appointed joint administrators at ten Arjowiggins Group UK subsidiary companies on the afternoon of 22 September 2022. An MBO team acquired the business and assets of the Arjowiggins Fine Papers and Arjowiggins Chartham businesses in September 2019, just a few months before the Covid-19 pandemic struck. The deal came about after a complex saga involving the insolvency of its former French parent group and was supported by Scottish Enterprise, which provided £7m of funding. The Stoneywood mill has been making paper since 1770 and specialises in fine papers, while Chartham has been in operation since 1738 and makes translucent papers. Stoneywood’s brands for graphics and packaging include Conqueror, Curious Collection, Keaykolour and Delos. It had also diversified into making casting papers, security papers and smart papers for printed electronics.
The Fedrigoni Group and Mohawk Fine Papers, Inc. have entered into a manufacturing agreement to expand the reach of their specialty papers globally. Shared core values of craftsmanship, innovation, and sustainability make this a natural and valuable opportunity for both organizations. The Fedrigoni Group is the first global player in the manufacture of high added value specialty papers for luxury packaging and other creative applications and world leader in premium labels and self-adhesive materials. Mohawk, founded in 1931, is family owned and operated, manufacturing some of the world's most recognized specialty papers for designers, consumer brands, and printers. Mohawk's early innovation in digital printing and sustainability secured its leadership position in these two significant growth sectors. “The agreement with Mohawk is a further element in our growth strategy in a market with excellent prospects such as specialty papers, especially for luxury packaging, where we intend to consolidate our global primacy. Many synergistic opportunities are also present for our selfadhesive materials division, which will expand its leading position in premium labels for the wine market in the US", comments Marco Nespolo, CEO of Fedrigoni Group. "This is an important step forward to reinforce our geographical penetration in the United States, where we will directly produce and distribute high value-added papers, leveraging all possible industrial and commercial synergies with our Group. We will also better support the ESG strategies of our clients, especially those in the luxury sector by giving them the option of moving to near shoring rather than global purchasing”.
Pixelle Specialty Solutions LLC has announced the mill located in Jay, ME will close in the first quarter of 2023. The mill employs approximately 230 people who will be affected by the closure. The mill produces specialty label and release papers, as well as industrial and packaging solutions for eCommerce and food service. Its two paper machines have a capacity of 230,000 tons annually. The mill has endured significant business and financial challenges that were compounded by the April 2020 rupture of one of its pulp digesters and catastrophic damage impacting the continued operability of the entire pulp mill. No one was injured in the event, and the mill subsequently transitioned into higher margin specialty products and invested capital to increase operational efficiencies while operating on purchased pulp. The company intends to work with its customers where possible to transition their products to other Pixelle mills or to plan for volumes of orders in the limited production leading up to mill closure.
Canfor Corporation is announcing a temporary reduction in production in British Columbia (BC) due to challenging market conditions. The production capacity will be reduced through a two-week curtailment beginning September 26, 2022 at the majority of solid wood facilities in BC and will be followed by the resumption of reduced operating schedules until the end of 2022. This is expected to result in a reduction of approximately 200 million board feet of production capacity. “We are temporarily curtailing production in BC due to reduced market demand. We will leverage our global operating platform to prioritize the requirements of our customers,” said Don Kayne, President and CEO, Canfor. To limit the impact on employees, they will have the opportunity to work during the downtime to complete maintenance projects and other site activities.
First quarter consolidated operating results were adversely impacted by global volume softness that accelerated in the final weeks of the quarter due to weakening economic conditions. In addition, results were negatively affected by service challenges at FedEx Express. Yield improvements, including fuel surcharge increases, more than offset the decline in volume, resulting in an increase in revenue for the quarter. In response, the company implemented cost actions and continued its focus on yield management and revenue quality to mitigate the effect of volume declines. However, the impact of cost actions lagged volume declines and operating expenses remained high relative to demand. FedEx Express operating income declined 69% due to an 11% year-over-year reduction in global package and freight volume. The impact of cost actions lagged volume declines and operating expenses remained high relative to demand. These factors were partially offset by yield management actions, including higher fuel surcharges.
As part of its fast-growing distribution client business, Simon & Schuster has opened a new distribution facility in Jackson, Tennessee. Simon & Schuster is already operating in 400,000 square feet of the facility, in what will eventually be a one million square foot distribution center by the end of the year. New distribution client Callisto Media, the prolific global publisher of best-selling titles focused on lifestyle, cooking, and children’s books, is set to be one of the first publishers shipped from the Jackson warehouse. The distribution agreement with Callisto Media is effective March 1, 2023. The company will continue to ship from its Riverside and Milan Distribution Centers.
The United States Postal Service reported new delivery performance metrics for the eleventh week of the fiscal fourth quarter. The data shows continued strong performance for First-Class Mail, Marketing Mail, and Periodicals. During the reporting period, the Postal Service averaged 2.5 days to deliver a mailpiece or package across the postal network. FY2022 fourth quarter service performance scores covering July 1 through Sept. 16 included: *First-Class Mail: 93.2 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Marketing Mail: 94.6 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Periodicals: 87.1 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter.
In a keynote video address this week to partnership groups composed of Postal Service leaders and the nation’s commercial mailers, USPS Postmaster General and CEO Louis DeJoy said the Postal Service is a different organization now than when he arrived more than two years ago. “Together, we have now started to change the direction of the Postal Service. We are a better organization in a better financial position than we were just one year ago. And we have achieved this exciting momentum during the pandemic. The ball is now in our court to effect the operating and marketing strategies we need to accomplish this transformation,” DeJoy said in his video remarks to over 90 Postal Customer Councils (PCCs) participating in National PCC Week.
The Association of American Publishers (AAP) released the StatShot Annual report covering the calendar year 2021, estimating that the U.S. book publishing industry generated $29.33 billion industry-wide during the year, the highest number ever reported by StatShot Annual. The number reflects a $3.23 billion increase, or 12.3%, as compared to 2020 revenues of $26.1 billion. “The industry was firing on all cylinders in 2021, delivering benefits up and down the value chain for literature, scholarship, and educational materials,” commented Maria A. Pallante, President and CEO, Association of American Publishers. “At the end of the day, we know that books are immeasurable and timeless as they make their way in the world. Nevertheless, in an economy that is overcrowded with entertainment options, it is thrilling and gratifying to see such resounding affirmation for reading.”
Sixteen of the 50 titles on the longlist for the 2022 National Book Award are published by Penguin Random House US imprints: Five of the ten books longlisted in the Nonfiction category, and four in the Fiction category. So the publishing group has excellent chances at the NBA awards presentation on November 16. The NBA has been presented since 1950 and is regarded as one of the most important book prizes in the U.S. A total of 16 authors on the Penguin Random House US roster have hopes of winning a National Book Award (NBA) this year. One of the foremost book prizes in the U.S. - and hence in the entire English-speaking world - the prestigious award has been presented since 1950, currently in five categories, each with ten nominations for the longlist. The NBAs are administered by the non-profit National Book Foundation. Penguin Random House has especially good chances this time in the important “Nonfiction” category. Here, Bertelsmann’s publishing houses account for fully half of the nominated titles: five out of ten. In the top category, “Fiction,” the U.S. publishing group scored four of the ten slots on the longlist. This is the first time in several years that the publishing group has been represented in all five categories.
Parade magazine, the supplement that has for 80 years run in newspapers nationwide, will publish its last print edition on November 6. The family oriented magazine will now appear in digital editions only. The news comes just months after The Arena Group acquired Parade’s parent, AMG/Parade, for $16.3 million. The Arena Group announced the shift to digital in an email to newspapers that carry Parade.
Canada will soon see nine daily newspapers stop printing editions on Mondays. The publications are The Vancouver Sun, The Province, Calgary Herald, Calgary Sun, Edmonton Journal, Edmonton Sun, Ottawa Citizen, Ottawa Sun and Montreal Gazette, publisher Postmedia Network Inc. announced last week. That leaves the Toronto Star, Toronto Sun, Winnipeg Sun, Journal de Montréal and Journal de Québec as the only dailies in Canada that publish print editions seven days a week, the Globe And Mail reports, media analyst Steve Faguy.
As has been well documented, the pandemic had many unexpected consequences over the past few years, not the least of which was a boom in trade book sales in both 2020 and 2021. But while the trade segment fared well in 2020, the other major publishing segments did not, and total industry sales had only a 0.2% gain that year over 2019. In 2021, trade sales jumped again, but so did sales in the other segments, resulting in a 12.3% increase in total sales, to $29.33 billion, according to the Association of American Publishers’ final statistics for the year. The final figure marks a major improvement over numbers from the previous four years, when sales ranged between $25 billion and $26 billion. In 2021, sales in all segments except professional books topped their 2019 numbers, which have become a measuring stick many companies use given the volatility of the past two years.
The Norwegian Forest Certification System has been submitted to PEFC for assessment. The public consultation, which is your chance to give your feedback on this revised system, will run from 26 September to 24 November 2022. PEFC Norway revised the country’s national forest certification system following the entry into force of the revised 2018 PEFC Sustainable Forest Management standard.
The Belgian Forest Certification System has been submitted to PEFC for assessment. The public consultation, which is your chance to give your feedback on this revised system, will run from 3 October to 1 December 2022. PEFC Belgium revised the country’s national forest certification system following the entry into force of the revised 2018 PEFC Sustainable Forest Management standard. Please note that the system revision and standard only apply to the Walloon region of Belgium.
American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index rose 2.8% in August after decreasing 1.5% in July. In August, the index equaled 119 (2015=100) versus 115.8 in July. “Tonnage snapped back in August after a weaker than expected July,” said ATA Chief Economist Bob Costello. “With the economy in transition to slower growth and changing consumer patterns, we may see more volatility in the months ahead. But the good news is that we continue to witness areas of freight growth in consumer spending and manufacturing, which is helping to offset the weakness in new home construction.”
Amcor Rigid Packaging (ARP) introduces the DairySeal™ line of packaging that features ClearCor™, an advanced polyethylene terephthalate (PET) barrier. With the introduction of DairySeal, the exploding nutritional, dairy alternatives, and ready-to-drink (RTD) market will now have a more sustainable packaging option that can be leveraged across all retail channels. The ClearCor PET barrier technology is a concentrated capsulation in the center of the preform that allows more flexibility and resin options. This technology positively impacts the overall performance of the barrier in the packaging and maintains recyclability. The DairySeal line of packaging can be made with up to 80 percent of recyclable material while maintaining superior taste and performance for the brand.
The Company’s revenues for the second quarter ended August 31, 2022 were $111.2 million compared to $100.5 million for the same quarter last year, an increase of $10.7 million, or 10.6%. Gross profit margin was $35.2 million, or 31.7%, as compared to $28.9 million, or 28.8%, for the same quarter last year. Net earnings for the quarter were $12.2 million, or $0.47 per diluted share, as compared to $7.5 million, or $0.29 per diluted share, for the same quarter last year. The Company’s revenues for the six-month period ended August 31, 2022 were $218.9 million compared to $197.4 million for the same period last year, an increase of $21.5 million or 10.9%. Gross profit margin was $69.2 million, or 31.6%, as compared to $58.1 million, or 29.4% for the six-month periods ended August 31, 2022 and August 31, 2021, respectively. Net earnings for the six-month period ended August 31, 2022 were $23.8 million, or $0.92 per diluted share compared to $14.8 million, or $0.57 per diluted share for the same period last year.
Koehler Paper is presenting Koehler NexPure® Wrap, a sustainable, lightweight packaging paper for fast-food products, to the public for the first time at the FachPack trade fair in Nuremberg, Germany, from September 27 to 29. The new paper, designed for burger and wrap packaging, has a grammage of 29.5 and uses natural raw materials for the barrier function. Koehler NexPure® Wrap is a sustainable fast-food packaging that is entirely free from fluorinated chemical coatings while offering the same properties. The product exclusively uses pulp from certified sustainable forestry and controlled sources as its primary fiber. Koehler NexPure® Wrap is the perfect addition to Koehler’s ‘Seal & Wrap’ campaign and, with its excellent grease barrier and adapted water vapor barrier, it is a fantastic alternative to solutions that are not fully recyclable, which are currently still in widespread use in fast-food system catering. Koehler NexPure® Wrap is primarily used in packaging for burgers, sandwiches, and wraps.
Mondi, a global leader in sustainable packaging and paper, has helped Austrian food company Handl Tyrol to wrap their bacon in an eye-catching solution that will contribute to a circular economy by keeping materials in circulation. The mono-material polypropylene (PP) film is recyclable in existing recycling streams for mixed polyolefins and keeps the bacon fresh, providing a ‘second skin’ that seals securely with both a high-barrier top and bottom film. The packaging has been designed to look like a wooden chopping board, providing instant on-shelf appeal and brand recognition. Working closely with Handl Tyrol, Mondi employed its collaborative EcoSolutions approach to ensure the packaging is best for the manufacturer, product, end user and environment. The mono-material PP packaging was also shortlisted for the Green Packaging Star Award 2022.
The recyclable and fiber-based wood foam Fibrease™ by Stora Enso can replace e.g. polymer-based foams in packaging solutions. A partnership with Nefab has made it possible to scale up the production and broadly introduce Fibrease to the market, and it’s already being used by customers. We are all familiar with the polyurethane (PU) foam used for cushioning in packaging. It performs well when it comes to protecting products. It’s made of fossil raw materials and used frequently within a variety of industries worldwide. Now, after a successful collaboration between Stora Enso and Nefab, the fiber-based material Fibrease is ready to broadly replace polymer foams; offering brand owners sustainable packaging solutions. “We see a growing demand from eco-conscious companies to replace plastic-based foams with more sustainable alternatives. With Fibrease we can give them that,” says Johan Tegell, Product Manager, Fiber-based solutions at Nefab.
The label manufacturer UPM Raflatac and the industrial labeling and identification solutions provider Logopak have agreed on a collaboration, which provides their customers the first robust linerless solution in print and apply labeling. With linerless labeling, omitting the label liner significantly increases the running length and capacity of the label rolls, saves costs, and benefits the environment by reducing the CO2 footprint in production and logistics. As a first step the collaboration will improve especially the automatic labeling of secondary packaging. The benefits of the collaboration for customers are realized through the excellent compatibility between Logopak’s linerless labeling technology and UPM Raflatac’s Linerless Opticut™ label material. Logopak has tested the functionality of the linerless printing with more than one million cuts with UPM Raflatac’s OptiCut material without any significant pollution or major abrasion of the cutter. This remarkable result is proof that together Logopak and UPM Raflatac can provide a labeling solution that takes automatic linerless labeling to unprecedented level of speed, accuracy and reliability tackling the challenges linerless labeling has conventionally faced.
WestRock Company has acquired an HP PageWide T1190 Press to complement and expand its portfolio of unmatched corrugated printing capabilities, increase value and enable customers to win in the marketplace. Vertically integrated from paper manufacturing to printing to converting, WestRock offers customers a single source solution for high impact graphics, retail cases and displays on demand. The 110-inch wide inkjet digital press is capable of running at 1,000 ft/min and will enhance existing offset litho, flexo preprint, flexo direct print and sheet-fed digital printing used within the Company’s global network of corrugated box plants and specialty facilities.
Metsä Board, part of Metsä Group, announced in May 2022 that it will explore possibilities to increase folding boxboard capacity in Finland or Sweden in order to support its customers’ growth and to strengthen its service capability. As result of the study, the company will start pre-engineering for a new folding boxboard mill with an annual capacity of approximately 800,000 tonnes at the Kaskinen mill site in Finland. The pre-engineering phase will include technical design, design of infrastructure and logistics solutions and tendering for the main equipment. As part of the pre-engineering, an environmental impact assessment and an environmental permit process will be launched. The company estimates that a possible investment decision could be made in 2024 at the earliest. The pre-engineering for the new folding boxboard mill is based on fossil-free production and world-class resource and production efficiency. Thanks to the best available technology, the consumption of raw materials, energy and water per tonne of folding boxboard produced would be significantly lower when compared with the existing mills. The product concept would benefit from Metsä Board's long-term development work in the production of premium lightweight paperboards.
Stora Enso has signed an agreement to divest its Nymölla paper production site in Sweden, and all related assets to Sylvamo, a US-based global producer of uncoated paper. The enterprise value is EUR 150 million. Closing is expected in the beginning of 2023, subject to regulatory approvals. The Nymölla site’s capacity is 485,000 metric tonnes of woodfree uncoated office papers, with Multicopy as the leading paper brand. Based on the 2021 figures, the divestment is expected to reduce Stora Enso’s annual sales by approximately EUR 290 million. Stora Enso will, at closing, book a one-time disposal loss of approximately EUR 20 million in its IFRS operating profit, as an item affecting comparability, subject to closing date adjustments.
UPM Raflatac has completed the acquisition of AMC AG (Advanced Methods of Coating). The acquisition announced in May 2022 was closed on 15 September 2022 after regulatory clearances. AMC AG employs more than 300 people and has two production sites in Northern Germany, in Kaltenkirchen and in Hagenow. UPM Raflatac expects to realize significant synergies through the acquisition. By joining forces with AMC AG UPM Raflatac will accelerate its growth and expand its product portfolio. New product areas include Viscom/Graphics materials which are currently sold under the Intercoat brand, and removable self-adhesive stationary products under the brand names Global Notes and Print Inform. Furthermore, the transaction will strengthen UPM Raflatac’s position in Central Europe.
New figures published by YouGov Profiles show that UK and US magazine audiences still prefer reading their favourite publications in print. Out of the total 166,000 people polled (111,000 in the UK, 55,000 in the US), only 18% of UK respondents said that they got more enjoyment from reading magazines online vs print, and only 29% in the US. These figures contrast starkly with news consumption habits, where the preference is now for reading online. In the UK, 54% said that they prefer to consume news content online versus in newspapers, with that figure rising to 60% in the US.
The United States Postal Service reported new delivery performance metrics for the tenth week of the fiscal fourth quarter. During the reporting period, the average time for the Postal Service to deliver a mailpiece or package across the postal network was just 2.5 days. FY2022 fourth quarter service performance scores covering July 1 through Sept. 9 included: *First-Class Mail: 93.2 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Marketing Mail: 94.6 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Periodicals: 87.0 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter.
At an event here to celebrate the new Holiday Elves stamps, with Santa, Mrs. Claus, reindeer and the Santa Claus House (on St. Nicholas Drive!) as the backdrop, the Postal Service announced that letters for the 110-year-old USPS Operation Santa program can be sent beginning today — six weeks earlier than previous years. The holiday season is here! “USPS Operation Santa allows generous customers to grant the holiday wishes of children and families in need. The program is now accepting wish lists for this year’s program,” said Michael Elston, the Secretary of the U.S. Postal Service Board of Governors, who served as the dedicating official for the stamp event. “We know this is earlier than usual, but we’re pretty excited to get the season started and we know kids around the country are eager to write to Santa, using these stamps on the envelopes.”
July bookstore sales fell 3.4% compared to July 2021, according to preliminary estimates from the U.S. Census Bureau. Sales we $646 million this past July, compared to $668 million a year ago. It was the second straight month bookstore sales declined compared to 2021, after a steady string of monthly increases, and could reflect a new normal in the bookstore sales pattern, as comparisons to 2021 now reflect a period when many stores had reopened after lockdowns. In June, sales were down 8.2%. Despite the two-month sales skid, bookstore sales were still up 10.3% in the first seven months of 2022 over 2021, with sales rising to $4.54 billion from $4.11 billion in the comparable period in 2021. For the entire retail segment July sales rose 8.5% and sales increased 10.2% in the year-to-date.
Forest certification is a powerful tool to combat illegal logging and to promote sustainable forest management and responsible timber trade. PEFC is calling for collaborators and donors to further develop the PEFC FOR-TRADE programme to drive ASEAN integration and development of regional value chains in forest related industries. The PEFC FOR-TRADE programme supports sustainable forest trade in the Lower Mekong and ASEAN region through certification programmes aimed at advancing nationally owned standards in sustainable forest management and chain of custody. PEFC Southeast Asia has collaborated with a range of partners in the region. More recently for example, we have been a key partner in a UN-REDD Initiative funded by NORAD, implementing a series of interventions to support Sustainable Forest Trade in the Lower Mekong Region.
Amcor announced a further strategic investment of up to $45 million in ePac Flexible Packaging (“ePac”), a leader in high quality, short run length digitally-based flexible packaging. The investment will increase Amcor’s minority shareholding in ePac Holdings LLC. Amcor’s Executive Vice President of Strategy and Development, Ian Wilson, said, “This additional investment reflects our confidence in ePac’s entrepreneurial team and their proven ability to rapidly scale in the high growth, often higher value short run segment. Since our initial investment last year, we have been deeply impressed with ePac’s focused and innovative business model centered around deploying a very high level of digitalization and customization. ePac’s proven digital technologies enable the delivery of exceptional service levels and significantly reduced lead times. These specializations are designed to meet the unique speed to market and service needs of locally based small to medium customers, skill sets that are highly transferable to areas of Amcor’s core business.
Midland invites you to PRINTING United Expo with a FREE Expo Pass. Use our Code: 240851 and visit our Booth #N1510. Visit our booth to chat with Specialty Media product specialists and see Midland’s newest products. Discover what’s next for your organization – infinite opportunities await you! Digital Sheet Fed Media + Specialty Offset Substrates + Production Inkjet Paper + Wide Format Inkjet Media. Register Now at: https://www.compusystems.com/servlet/ar?evt_uid=480&InvitesVIP=240851
National Average Price for Regular Unleaded Current: $3.692; Month Ago: $3.949; Year Ago: $3.191. National Average Price for Diesel Current: $4.977; Month Ago: $5.021; Year Ago: $3.299.
American Dollar to Canadian Dollar = 0.752347; American Dollar to Chinese Yuan = 0.142589; American Dollar to Euro = 0.99608; American Dollar to Japanese Yen = 0.006984; American Dollar to Mexican Peso = 0.049758.
Sappi Europe is set to extend its capacity at its mill in Gratkorn, Austria, enabling the mill to also manufacture wet-strength label papers. The double-digit million-euro investment in a state-of-the-art technical infrastructure will drive expansion of the site – and establish Sappi as a leader in the label sector for the long term. • Innovation through investment: expansion of the Gratkorn mill’s technical infrastructure • Increased demand for high-quality label papers • Guaranteed production and delivery reliability
Since Patagonia’s founding in 1973, Yvon Chouinard and his family have been its owners. Now, almost 50 years later, the company is announcing that the Chouinards are transferring all ownership to two newly created entities in an effort both to cement the company’s values in its operating structure and step up its fight against the climate crisis. All voting stock (about 2% of the total) is now controlled by the Patagonia Purpose Trust, while the other 98% is under what’s called the Holdfast Collective. The goal behind the Patagonia Purpose Trust is to create a permanent legal structure to enshrine the company’s purpose and values, so that there is never deviation from Chouinard’s intent—and to make sure the company continues to demonstrate that capitalism can work for the planet. Meanwhile, the company says that all annual profits that are not reinvested back into the business—which they estimate to be about $100 million per year—will be distributed by Patagonia as a dividend to the Holdfast Collective (which is designated as a 501(c)(4) organization) to fund grassroots environmental organizations, invest in businesses, and support political candidates that all work to protect nature and biodiversity, support thriving communities, and fight the climate crisis.
Pregis® announces the expansion of its Inspyre™ product line with the new Inspyre™ Mailer, amplifying its contributions to help fight water insecurities in communities around the world. Inspyre™ packaging is a brand member of 1% for the Planet, with one percent of the product line’s sales funding Uzima, a charity that makes and distributes water filters that provide clean drinking water to people in need. The Inspyre mailer offers an efficient, lightweight, and sustainable way to ship non-fragile items and soft goods such as apparel, linens, in direct-to-consumer e-commerce applications. Made with a minimum of 30 percent recycled content, the new Inspyre poly mailer offers customers a unique packaging solution that contributes to sustainability goals and positive change.
The Occasions Group, a Taylor Corporation company, is pleased to announce that it has reached an agreement to acquire the assets of Accu Copy of Greenville, Inc. Headquartered in Greenville, N.C., Accu Copy does business under the AccuLink name to deliver commercial print, direct mail and promotional marketingproducts while its AccuFlex division focuses on the production of flexible packaging products. The acquisition of both AccuLink and AccuFlex expands Taylor’s reach and offers immediate growth opportunities in multiple core categories. "AccuLink is an ideal fit for The Occasions Group. It complements our business model perfectly and strengthens our capabilities for our distributor and reseller partners," says Nate Mullikin, enterprise leader at Taylor. "Like us, AccuLink has invested heavily in the digital print space. They operate one of North Carolina’s leading white-label e-commerce fulfillment facilities as well as a wide range of binding, finishing and direct mail services in-house, something we believe to be a long-term growth area."
Stora Enso has signed an agreement to divest its Maxau paper production site in Germany, and all related assets to Schwarz Produktion, part of Schwarz Group, one of the top retailers in the world. The enterprise value is approximately EUR 210 million. Closing is expected in the beginning of 2023, at the latest, subject to regulatory approvals. This transaction is part of the earlier announced plan to divest four of Stora Enso’s five paper production sites. In line with its strategy, Stora Enso’s focus is on long-term growth potential for its renewable products in packaging, building solutions and biomaterials innovations. Schwarz Produktion is expected to assume ownership for the Maxau site in the beginning of 2023. Schwarz’s plan is to continue paper production at the site, and the 440 employees belonging to the mill organisation at Maxau will be part of the transaction. Stora Enso will continue to operate the Maxau site and serve its supercalendered paper (SC) customers until the closing of the transaction.
Huhtamaki and Stora Enso have joined forces to launch a new paper cup recycling initiative, The Cup Collective. The programme, which is the first of its kind in Europe, aims to recycle and capture the value of used paper cups on an industrial scale. Initially the programme will be implemented across the Benelux. With the aim of setting new standards for paper cup collection and recycling in Europe, The Cup Collective has issued an open invitation for partners from across the supply chain to get involved in working towards a systemic European solution. The EU has set recycling target for paper and board packaging of 85% by 2030. Paper cups are recyclable but need to be collected before they can be turned into new paper products. The Cup Collective initiative will create the necessary collection infrastructure to significantly increase the recycling rate of wood-fiber in paper cups. Above all, the programme will make it as easier for consumers and businesses to collect used paper cups to be regenerated into valuable recycled raw material.
UPM Specialty Papers presents the latest innovative additions to its extensive selection of sustainable and recyclable packaging papers. UPM Confidio™ and UPM Confidio™ Pro combine moisture-, and grease resistance with excellent heat sealing properties. This makes the materials stand out in the market and offers a concrete competitive edge. In building a future beyond fossils, UPM Specialty Papers provides the packaging industry with innovative and renewable solutions from sustainably managed forests. Known for its high expertise in technically demanding papers and cutting-edge solutions, UPM Specialty Papers adds heat sealable products to UPM’s wide packaging product portfolio. This ground-breaking feature allows for a streamlined conversion process and an accelerated time-to-market. Made from renewable fibres, UPM Confidio and UPM Confidio Pro are repulpable and designed to be recycled in regular fibre recycling streams.
Dear Industry Member: Following aggressive lobbying efforts from the ACMA, its partner organizations the Coalition for a 21st Century Postal Service and Keep Us Posted, and others with mailing interests, today Rep. Gerold Connolly (D-VA, at right) introduced the Ensuring Accurate Postal Rates Act. If passed into law, the bill will require the Postal Regulatory Commission to conduct a follow-up review of the postal rate-making process. Below is a brief timeline: • In 2020, the PRC completed its mandated 10-year review of the postal rate-making process. The review modified the rate-making process, opening the door for the USPS to increase rates beyond the CPI cap and doubling the number of rate hikes in each of the past two years. • Although completed that November, the review quickly became outdated: A section of the April 2022 USPS Fairness Act (section 102 of Public Law 117-108) canceled unpaid USPS obligations, thereby removing an essential basis for the PRC ruling. • The PRC ruling also did not adquately account for the windfall of business the USPS achieved from the Covid boom in package shipping and other improvements to its financial condition from the pandemic. • Less than a month after the PRC ruling, the CARES Act authorized up to $10 billion in funding for the U.S. Postal Service from the U.S. Treasury. We appreciate Rep. Connolly's sensitivity to the impact of extra-large rate increases on our members. The ACMA will will continue to advocate to build support for this much needed legislation, including how you can work with your own legislators to ensure this bill is passed.
WestRock Company announced an expansion of its CanCollar® family of multipack solutions with the introduction of CanCollar® X, a fiber-based solution for sustainable large format canned beverage packaging enabling as much as fifty percent material reduction compared to fully-enclosed traditional packaging. As the newest addition to the family of solutions automated by the patented CanCollar Fortuna® platform, CanCollar® X uses a similar fiber-based, glue-free minimalist design preferred by consumers to maximize can visibility, is comfortable for consumers to handle and optimizes the use of material to bundle multipacks for larger formats. “Whether it’s beer, soft drinks, or sparkling water, across the globe large multipacks of cans are packaged in shrink film,” said Chris Davidson, vice president, Sustainability at WestRock. “With CanCollar® X we have an opportunity to significantly reduce materials when compared to fully-enclosed cartons and replace hard-to-recycle plastic shrink wrap with recyclable fiber-based packaging, improving circularity at impressive scale.”
The American Trucking Associations is calling on Congress to help resolve ongoing labor negotiations in the freight rail industry should the parties fail to reach a mutual agreement when the current cooling off period expires on September 16. The trucking industry is freight rail’s largest customer, and in a letter sent to Capitol Hill today, ATA is warning of dire consequences for the U.S. supply chain if a strike were to go into effect. “Idling all 7,000 long distance daily freight trains in the U.S. would require more than 460,000 additional long-haul trucks every day, which is not possible based on equipment availability and an existing shortage of 80,000 drivers,” said ATA President and CEO Chris Spear in the letter. “As such, any rail service disruption will create havoc in the supply chain and fuel inflationary pressures across the board.” The letter urges Congress to help implement a contract patterned on the recommendations outlined by the Presidential Emergency Board and cautions against merely extending the negotiation timeline further, which would push a potential strike deeper into the holiday season when the supply chain is already under added pressure.
Larry Martin is the plant director for Quad’s print-production plant in The Rock. As plant director, Martin oversees all plant and employee operations, strategy development, growth-planning initiatives, and more. He is a Georgia native and was named plant director at The Rock in March 2021. Martin’s career in printing began at Quad 28 years ago. He has worked in management for the last 18 years, and prior to being promoted to plant director, served as the plant’s finishing operations manager for 10.5 years. Martin credits much of his success to his cousin Trent Jones, who served as a mentor to Martin throughout his upbringing and worked 32 years as a saddle stitch operator at Quad. Finishing is one of Quad’s largest departments, with quality-assurance and exceptional customer service as top priorities. Martin says he gained immense insight on teamwork and relationship building as a leader in finishing. It provided him opportunities to interact with teams and individuals in every area of the plant, and to engage with clients from around the world, according to Quad officials.
Midland invites you to PRINTING United Expo with a FREE Expo Pass. Use our Code: 240851 and visit our Booth #N1510. Visit our booth to chat with Specialty Media product specialists and see Midland’s newest products. Discover what’s next for your organization – infinite opportunities await you! Digital Sheet Fed Media + Specialty Offset Substrates + Production Inkjet Paper + Wide Format Inkjet Media. Register Now at: https://www.compusystems.com/servlet/ar?evt_uid=480&InvitesVIP=240851
The United States Postal Service reported new delivery performance metrics for the ninth week of the fiscal fourth quarter showing the average time for the Postal Service to deliver a mailpiece or package across the postal network was consistent at just 2.4 days. As the Postal Service heads into the busy fall mailing season, service performance remains strong and steady across all mail categories. FY2022 fourth quarter service performance scores covering July 1 through Sept. 2 included: *First-Class Mail: 93.2 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Marketing Mail: 94.6 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Periodicals: 87.0 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter.
The Postal Regulatory Commission (PRC) approved a temporary price adjustment for key package products for the 2022 peak holiday season. This temporary rate adjustment is similar to ones in past years that help cover extra handling costs to ensure a successful peak season. The temporary rates will go into effect at 12 a.m. Central on Oct. 2 and remain in place until 12 a.m. Central Jan. 22, 2023. The peak-season pricing approved by the PRC affects prices on the following commercial and retail domestic competitive parcels: Priority Mail Express (PME), Priority Mail (PM), First-Class Package Service (FCPS), Parcel Select and USPS Retail Ground. International products will be unaffected. This seasonal adjustment brings prices for the Postal Service’s commercial and retail customers in line with competitive practices. No structural changes are planned as part of this limited pricing initiative.
The White House on Thursday called for a host of new technology laws -- including ones that would restrict data collection and targeted advertising. “There should be clear limits on the ability to collect, use, transfer, and maintain our personal data, including limits on targeted advertising,” the administration stated Thursday at a meeting regarding tech platforms. “We especially need strong protections for particularly sensitive data such as geolocation and health information, including information related to reproductive health.” The Biden-Harris administration also said it was seeking an overhaul of Section 230 of the Communications Decency Act, which currently protects tech companies from a broad range of lawsuits over material posted by users.
Sonoco ThermoSafe and American Airlines Cargo are pleased to announce a global partnership lease agreement for the new Pegasus ULD® passive temperature-controlled bulk shipping container. The Sonoco ThermoSafe’s Pegasus ULD® will join the carrier’s fleet of container products in the coming months. With a focus on sustainability, the Pegasus ULD® is engineered with composite materials, offering a lighter solution that is also substantially more damage-resistant than traditional metal containers. The Pegasus is also the world’s first FAA and EASA-approved advanced passive bulk temperature-controlled ULD container for pharmaceutical use, outfitted with real-time tracking and temperature-measuring capabilities.
At Crown, we continue to prioritize initiatives that enhance sustainability and reduce greenhouse gas (GHG) emissions. This is reflected in our Twentyby30 sustainability strategy, which includes a commitment to dedicate at least half of Research & Development (R&D) efforts toward minimizing the footprint of our products and manufacturing processes. Our ambitious plan also strives to decrease GHG emissions by reducing packaging material use by making aluminum cans 10% lighter in weight by 2030 (compared to a 2019 baseline). In 2021, after several years of intensive development efforts, our R&D and Customer Technical Services (CTS) teams achieved a 4% global average reduction in our standard 12 oz. (330 ml) can weight. The CTS team, composed of expert engineers offering training and production analysis support, was pivotal in ensuring these lighter-weight cans did not sacrifice performance or the critical barrier and strength properties that brand owners’ demand. Lightweighting efforts add to metal’s superior properties in terms of recyclability and the benefits are compounded as the material circulates through the process time and time again. Weight reductions allow us to produce more cans with the same amount of aluminum used previously for standard cans, which has a positive impact on GHG emissions through energy savings.
Inteplast’s AmTopp Division has begun production on one of its two stretch film extrusion lines and will increase its current workforce by more than 37 percent in time for mid-September, when the second stretch film line goes into production. Stretch film, made from linear low-density polyethylene, is used to secure goods during their transport, allowing for palletized loads and other profile types to be stabilized, unitized, and protected from dust or other unhygienic or corrosive elements. Combined, the stretch film and pre-stretch extrusion lines are estimated to yield a monthly average of 2 million pounds in product until the startup of the second stretch film line, when it increases to 5 million pounds. Currently the plant’s pre-stretch production has averaged more than 500,000 pounds per month for the last year-and-a-half. The Remington facility is slated to produce up to 60 million pounds of film per year. AmTopp Division President Homer Hsieh said that the stretch film product offerings available at Remington now mirror the facility’s four sister plants in Lolita and Houston, TX; Charlotte, NC; and Phoenix, AZ.
HP Inc. announced the new HP PageWide Advantage 2200 series press. Designed to meet the needs of print service providers of all sizes, this revolutionary press offers industry leading productivity with quality, and media versatility for those in publishing, direct mail, and commercial print, to help grow their business. “This new PageWide Advantage platform is a game changer for the commercial print industry,” said Annette Friskopp, Global Head and General Manager at HP PageWide. “HP has listened to our customers, and we realize ease of use and up-time are critical success factors. This new press offers configurations to enable customers to optimize the press for their quality, productivity, versatility, and economics to grow their digital production businesses.”
R.R. Donnelley & Sons Company will spotlight its end-to-end, single-source paperboard packaging services at PACK EXPO (Oct. 23-26, 2022; McCormick Place; Booth W-22000). Offered to brands of all sizes and industries, the capabilities can streamline folding carton design and production, minimizing material waste, transportation, and associated costs. RRD's consultative service model encapsulates paperboard materials selection, best-fit manufacturing, enhancements, finishing, and other services like creative development and design, kitting, distribution optimization, warehouse and inventory management, and print collateral and labels. A team of RRD packaging experts identify opportunities for standardization, production, and near-site production and supply chain efficiencies. They also provide guidance on right-sizing, material reduction, component substitution, and treatment or decorative options that help brands reach their sustainability goals while connecting with their customers.
Ahlstrom-Munksjö, Metsä Fibre and 3M, with the help of Earthworm Foundation, continue their close collaboration in responsible wood sourcing. This year the partnership concentrates on the Kainuu region, Finland, where the different parties will conduct research on current forestry practices and future practices linked to Kemi Mill expansion in the area. Based on the results, the three companies will develop their operations and continue collaboration among each other and other stakeholders to pursue sustainability in wood sourcing. Metsä Fibre, the world’s largest producer of bleached softwood pulp and a globally significant manufacturer of sawn timber; Ahlstrom-Munksjö, a significant wood pulp consumer; and 3M, a global producer of paper-based products, seek to advance environmental performance and sustainability throughout their operations and supply chains. Bringing all supply chain actors together promotes responsible practices from forests to customers.
National Average Price for Regular Unleaded Current: $3.738; Month Ago: $4.033; Year Ago: $3.181. National Average Price for Diesel Current: $5.029; Month Ago: $5.120; Year Ago: $3.295.
American Dollar to Canadian Dollar = 0.767295; American Dollar to Chinese Yuan = 0.144414; American Dollar to Euro = 1.005788; American Dollar to Japanese Yen = 0.007030; American Dollar to Mexican Peso = 0.050297.
As of September 1st, Technicote, a North-American company specializing in self-adhesive solutions, is the latest addition to Beontag’s growing family of international companies. The acquisition marks Beontag’s entry to the North American market, and is another step in its global expansion and internationalization strategy initiated in 2020. Besides the United States, Beontag has operations in other countries, such as Argentina, Uruguay, France, Italy, Sweden, Finland, among others. This acquisition is more than Beontag wanting to enter a new market. It was also motivated because of the broad network of customers that Technicote has had for more than four decades and the diversity of products they offer in the segments of graphic and self-adhesive materials. Their portfolio offers a wide range of self-adhesive rolls and sheets, as well as solutions in silicone coated release liners and is a perfect fit for Beontag’s expanding international portfolio of products. Technicote will also be integrating many of those products into their North American range.
Sustainability has gone mainstream, with more people than ever before concerned about the environmental impacts of the products and services they buy and use. They understandably want to do the right things for the planet, but the explosion of greenwashing is causing consumers and businesses to use – or in the case of paper, not use – products without any basis in fact. The Oxford Dictionary defines greenwashing as “Disinformation disseminated by an organization so as to present an environmentally responsible public image.” And you don’t have to look far to understand the scope of the problem. In a recent survey conducted by The Harris Poll for Google Cloud, 72% of CEOs and C-suite leaders in North America admitted that their companies are guilty of greenwashing, even as most gave their companies an “above-average” rating for environmental sustainability. Greenwashing investigations of ESG (environmental, social, governance) investment funds are becoming commonplace. And, as reported in the Harvard Business Review, studies show that companies that tout their environmental credentials often have poor environmental compliance.
Stora Enso acquires De Jong Packaging Group, based in the Netherlands, for an enterprise value of approximately EUR 1,020 million. This acquisition will advance Stora Enso’s strategic direction, accelerate revenue growth and build market share in renewable packaging in Europe. De Jong Packaging Group is one of the largest corrugated packaging producers in the Benelux countries. Its product portfolio and geographic presence will complement and enhance Stora Enso’s offering, especially in fresh produce, e-commerce and industrial packaging. The acquisition of De Jong Packaging Group will significantly strengthen Stora Enso’s European market presence in corrugated packaging and provide an entry into the Netherlands, Belgium, Germany and the UK. With this acquisition, Stora Enso’s Packaging Solutions division will increase its corrugated packaging capacity by approximately 1,200 million m2 to more than 2,000 million m2, including De Jong Packaging Group’s ongoing expansion projects. This will secure a platform for continued growth in key markets. The European corrugated packaging market is fragmented, with local presence key for sustainable growth.
Imports at the nation’s major container ports are expected to fall below last year’s levels for the remainder of 2022. That’s according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates. The report cited ongoing inflation and the Federal Reserve’s efforts to cool demand through higher interest rates. The key now is dealing with ongoing supply chain issues around the globe and with labor negotiations at West Coast ports and freight railroads.
As students return to the classroom for the new school year, Savvas Learning Company is helping educators move learning forward with engaging, easy-to-use K-12 solutions that offer data-informed instruction and adaptive technology to take personalized learning to the next level. “A one-size-fits-all instructional approach doesn’t work in a classroom where every student brings their own unique learning style. More than ever, personalized learning is critical in getting students engaged and motivated to learn and supporting academic growth,” said Bethlam Forsa, CEO of Savvas Learning Company. “Teachers know best how to personalize learning for their students. This is why Savvas delivers learning solutions that are powered by adaptive technology, enabling educators to easily tailor instruction to address each student’s learning needs, interests, and abilities.”
The Sustainable Green Printing Partnership (SGP), the leading certification authority in sustainable printing, announced today that the Center for Resource Solutions (CRS), a non-governmental organization (NGO) working with policymakers, utilities, and others around the world to improve the policy climate for renewable development, has joined the SGP community as a Resource Partner. SGP Resource Partners are non-profits, NGOs and educational institutions engaged in promoting, teaching or researching in the areas of graphic arts and/or sustainability. Resource Partners are subject matter experts that assure the entire print community is empowered to advance sustainability in the printing industry supply chain.
Highlights *Significant increase in revenues and net earnings, including organic revenue growth in all three operating sectors. *Revenues of $747.8 million for the quarter ended July 31, 2022; operating earnings of $52.1 million; and net earnings attributable to shareholders of the Corporation of $34.1 million ($0.39 per share). *Acquired ERPI (Éditions du renouveau pédagogique inc.), an educational publisher, on June 13, 2022, to pursue the growth strategy for educational products, both print and digital. *Acquired Banaplast S.A.S., a flexible packaging company based in Armenia, Colombia, on June 22, 2022, which enables the Corporation to pursue its growth strategy with an expanded offering, in particular with banana tree bags and agro-mulches. *Unveiled the 2025 Corporate Social Responsibility Plan, on June 15, 2022, which includes ambitious targets, in particular with respect to the creation of a circular economy, the reduction of greenhouse gases and diversity.
TC Transcontinental announces the retirement of Brian Reid, President of TC Transcontinental Printing, following an outstanding career of 41 years with the company. He will be leaving his position October 30 and staying on until the end of January 2023 to facilitate the transition. Effective October 31, Senior Vice Presidents Nick Cannon, Patrick Brayley and Pierre Deslongchamps will take on expanded roles, reporting to Peter Brues, President and Chief Executive Officer. “It has been a great ride, more than 40 amazing years at TC Transcontinental. I leave with confidence in the future of the Printing Sector, a solid business with long-standing customers, large and small, and a highly talented, engaged and experienced team”, said Brian Reid, President, TC Transcontinental Printing. “I am grateful to our employees who, day in and day out, through their relentless work, make a difference for TC Transcontinental and its customers. It has been a privilege to be part of such a great company during all these years, and I thank our customers, the Board of Directors and the Marcoux family for their confidence.”
Along with members of the community, provincial and federal elected representatives, staff at Meadow Lake Mechanical Pulp mill (MLMP) and Paper Excellence Canada today celebrated 30 years of the pulp mill being in operation. The mill is located just east of Meadow Lake and has been operational since 1992. MLMP was the first mill Paper Excellence Canada acquired in 2007. The mill employs over 200 full-time employees, creates approximately 1,300 direct and indirect jobs, and creates approximately $470 million in economic activity annually. MLMP produces approximately 400,000 tonnes of bleached chemi-thermal mechanical pulp (BCTMP) annually. BCTMP is used to make a variety of products from tissue and paper towel to food and board packaging.
The world’s first autonomously operated logyard cranes have been successfully lifted up at Metsä Fibre’s bioproduct mill in Kemi, Finland. Supplied by international technology group ANDRITZ, the delivery includes two 2 x 25-ton cranes on a 540 m long runway with a storage capacity of approximately 120,000 m3. The cranes will handle approximately 7.6 million m3 wood/year shipped on trucks and trains as well as handling log storage and wood feeding to the pulping process. The cranes feature the latest in Artificial Intelligence, thus optimizing log handling, minimizing wood losses and securing environmentally friendly and cost-effective operation when compared to traditional log-handling solutions. The fully autonomous logyard cranes featuring Artificial Intelligence are part of the comprehensive ANDRITZ portfolio of sustainable solutions and products that help customers reaching their goals with regard to environmental protection and sustainability
Revenue *Research was flat as reported, or up 4% at constant currency, driven by organic growth in Publishing and Solutions and contributions from recent acquisitions. - Revenue by product type reporting change – Research is now reported as Research Publishing and Research Solutions. Research Solutions includes platforms, corporate solutions and services for societies and other publishers. It replaces the Research Platforms reporting line. Please see the tables below for more detail. *Academic & Professional Learning revenue declined 5% as reported and 1% at constant currency. Education Publishing performance saw a decline in print course material offsetting growth in digital content and courseware. Professional Learning saw growth in corporate training offsetting a decline in professional publishing. *Education Services increased 7% as reported and 11% at constant currency, with very strong double-digit growth in Talent Development offsetting a decline in University Services from market-related enrollment challenges. EPS *GAAP EPS was a loss of $0.32 as compared to +$0.24 in the prior year period, primarily reflecting a $0.30/share ($22 million) restructuring charge and accelerated amortization of intangibles of $0.07/share ($5 million) related to the discontinuation of the mthreebrand.
On September 2, 2002 publishers filed the latest brief in the copyright infringement lawsuit against Internet Archive (“IA”), first filed on June 1, 2020 in the United States District Court for the Southern District of New York. The brief follows publishers’ July 7, 2022 request for summary judgement against the Internet Archive, which explained that both the law and facts of the case indisputably point to infringement and do not require a trial. The most recent filing comprehensively negates the Internet Archive’s own motion for summary judgement, which publishers believe is meritless and misleading. The plaintiffs — Hachette Book Group, HarperCollins Publishers, Penguin Random House, and Wiley — brought the lawsuit on behalf of themselves and their authors after the Internet Archive refused to halt its infringement of tens of thousands of their books.
5 years after the last edition of the fair, Drinktec will be the meeting point once again for the international beverage and liquid food industry from September 12-16, 2022, in Munich. Lecta, which has dramatically expanded its innovative and natural ranges of specialty papers for label, beverage, packaging and food service applications, will not be missing out on this event. Visitors will be able to appreciate the excellent quality and versatility of our product lines including Metalvac metallized papers, the exclusive range of Adestor self-adhesive materials, Creaset one-side coated papers and Eurokote cast-coated papers, plus Linerset, Lecta's new range of release liners. These papers have been designed in keeping with the new criteria for sustainable packaging, product design and consumer trends that, according to Drinktec, will shape the future of the beverage industry.
Huhtamaki has sold its operations in Russia to Espetina Ltd. Espetina is a holding company owned by Alexander Govor and Iury Kushnerov. The transaction includes four manufacturing units in Russia, employing 724 people. On April 14, 2022, Huhtamaki announced its intention to divest its operations in Russia. This followed an earlier decision to stop all investments in Russia at the outbreak of the invasion of Ukraine. “We consider that the current evolution of the situation and the long-term outlook in Russia will prevent the realization of our growth strategy and long-term ambitions in the country. We are pleased to bring to a close the subsequent review of our strategic options in Russia. As part of the process, we conducted extensive due diligence to find the best possible buyer and future partner for our local employees – the safety and wellbeing of whom remain important to us. We feel that Espetina will be a good and committed owner for the business and the future of our employees”, says Charles Héaulmé, President and CEO, Huhtamaki.
Berkshire Hathaway's HomeServices of America unit has extended its custom publishing and content marketing deal with Havas House, the customer media division of Republica Havas Group and Havas Creative North America Network. The extension includes a new custom magazine, Lifestyles Southern California, which launches in December and targets the "ultra affluent audience" of Southern California's luxury real estate market. With a circulation of 75,000 print editions delivered directly to select, multimillion-dollar properties (valued at $3 million to $5 million).
Amcor has announced the first batch of recipients for its ground-breaking Amcor Lift-Off seed funding initiative. Launched in April, Amcor Lift-Off targets breakthrough, state-of-the-art technologies that will further advance Amcor’s initiatives to make the future of packaging more sustainable. Following multiple pitch rounds, the winners of the initial Lift-Off program are: • Bloom Biorenewables Ltd: A chemical and biomaterials company, which converts plant waste into chemicals used in packaging; and • Nfinite Nanotechnology: An advanced materials company, which leverages smart nanocoatings to make packaging recyclable and compostable. Each company will receive investments of US $250,000 and access to Amcor’s best-in-class research and development resources.
365 days of operation and a trajectory that stands out for its excellent performance. One year after the start of activities for the first paper machine (PM) of the Puma II Project - the biggest investment in Klabin's history, which includes the construction of two paper machines with integrated pulp production -, the MP27 surpassed the mark of 330 thousand tons of Eukaliner® and Eukaliner White® produced and sold to the domestic and foreign markets, reinforcing the Company's vocation for the development of sustainable and innovative solutions in paper and paper packaging in Brazil. The machine, which has the capacity to produce 450,000 tons per year, surpassed the learning curve expected for the period. Developed and patented by Klabin, the Eukaliner® product range, produced at MP27, is the first in the world with kraftliner paper made 100% from eucalyptus fiber, which guarantees advantages such as the optimization of the forest area necessary for its production. (less resource for manufacturing the same volume of paper), in addition to properties such as a more robust structure, which allows for a reduction in the weight of corrugated cardboard packaging with increased resistance and better printing quality.
Reinvigorating a decades-old plush toy brand. In a mass-produced world where words like quality, creativity and authenticity are little more than unsubstantiated marketing-speak, Mary Meyer is the real deal. A family-owned company with a storied 85-year history of making soft and cuddly stuffed toys for gift-givers who know and appreciate quality and want to give something truly memorable that will be loved by that special someone. But the look of this storied brand needed an update to bring it forward in time, and make it more appealing to new parents and gift-giving grandparents. It was time for a refresh. That’s where J.Schmid came in. Read the Case Study at: https://www.jschmid.com/blog/portfolio/mary-meyer/
Conde Nast continues its digital pivot with the publishing giant announcing plans to shutter the print edition of its beauty tome Allure, and the December 2022 magazine will be its last. Editor-in-Chief Jessica Cruel broke the news to staffers this week along with the information that employees' roles may change, but no layoffs have been confirmed yet. "Our brand is stronger than ever across social and digital and our success is testament to our collaboration as a team and because we know just how and where our audience is accessing content in today's ever-changing landscape," wrote Cruel. "It's our mission to meet the audience where they are and with this in mind, after our December print issue, we are making Allure an exclusively digital brand."
Welcome to 2022, when even our work computers tell us we’re getting too much screen time. And while it can be harder to cut back on medium screen, people seem to be more mindful about their small-screen time—some are even using flip phones. As concern mounts over our collective tech habits and the potential damage of absorbing too much bad news—aka doomscrolling—publisher Penguin Random House saw an opportunity to get people reading with its new campaign, “Slow Down, Read a Book.” “I think reading is positioned to help people escape and help people think more deeply, and help people relax. And it’s almost a foil to social media in that way,” Carly Gorga, director of creative strategy, brand marketing at Penguin Random House, told us.
Suzano S.A. informs its shareholders and the public that, regarding the project “Partial retrofit of the pulp production plant located in Aracruz involving the replacement of parts in the recovery boiler and installation of a crystallization system”, as disclosed in the Material Fact notice dated December 19, 2019, the following is planned during its implementation phase in the fourth quarter of 2022: • Temporary downtime of the A line production for around 45 days due to interventions in the recovery boiler; • No adjustments to the Company’s original operating plan for 2022, which will ensure that clients’ needs are fully met without any changes to the commercial strategy. The project’s capital investments amount to R$298 million, of which R$188 million was already invested by July 2022, with the remaining amount considered in the capex estimate for the year disclosed by the Company on July 27, 2022.
FY2022 fourth quarter service performance scores covering July 1 through Aug. 26 included: *First-Class Mail: 93.1 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Marketing Mail: 94.5 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Periodicals: 86.7 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter.
Fortis Solutions Group LLC announced the acquisition of Digital Dogma Corp. based in Santa Fe Springs, California. Terms of the transaction were not disclosed. Digital Dogma is a digital manufacturer of pressure sensitive labels, shrink sleeves and flexible packaging serving the food and beverage, wine and spirits, nutraceutical, health and beauty, and industrial end markets from its locations in Santa Fe Springs and Paso Robles, California. Fortis President and CEO John O. Wynne, Jr. said, "As an early adopter of digital printing technology, Digital Dogma has always been at the forefront of innovation within our industry. With this acquisition, we are excited to extend our digital printing capabilities to California and offer coast to coast solutions for our customers. I am looking forward to working with Paul Mulcahey and the Digital Dogma team as we enhance our shrink sleeve, flexible packaging and pressure sensitive offerings."
R.R. Donnelley & Sons Company supported Siemens Healthineers to accelerate the delivery of rapid COVID-19 antigen self-tests to the U.S. market during a time of dire need. RRD, a Chicago-based company with nearly two decades of experience helping medical device clients optimize their supply chain, leveraged its ISO 13485 accredited facilities and ability to scale quickly to facilitate Siemens Healthineers’ time-sensitive project. Amid the peak of the COVID-19 Omicron variant outbreak in January 2022, Siemens Healthineers stepped up to make tens of millions of tests available to the U.S. population through state, federal, and local partnership efforts. The company sought to expand its warehouse space to meet growing demand to help accommodate the massive volumes of product. Siemens Healthineers collaborated with RRD, who had the ability, experience, and flexibility to upscale with uncertain demand. “It was critical to find a supplemental supply chain and warehouse solution that could help us supply high-quality test kits that would provide accurate COVID-19 results to the U.S. population. RRD’s ability to flex and adapt to changing demand helped address some of these needs,” said Joerg Berner, Acting Head of Point of Care Diagnostics at Siemens Healthineers.
Ahlstrom-Munksjö, a global leader in fiber-based materials, has been awarded EcoVadis’ highest recognition level, Platinum, for the company’s sustainability performance. The company’s continuous efforts have now been rewarded, placing our Group among the top 1 percent of companies assessed by Eco Vadis. The rating is an improvement from Gold level rating, which we were previously rated since 2019. Our score increased especially in Environmental performance and Labour & Human rights. “During the past year we have made a significant step change in sustainability and put it as a key value driver for our growing business. We have a sharper sustainability strategy, an integrated operative model and a solid and holistic set of key performance indicators to help us monitor and evaluate our performance. We are thrilled and proud to move from the gold rating to platinum, as this gives us external validation that our ambition has been recognized and the concrete actions are already bearing fruit,” says Johan Lunabba, Vice President, Sustainability and Public Affairs.
Midland invites you to PRINTING United Expo wtih a FREE Expo Pass Use our Code: 240851 and visit our Booth #N1510. Visit our booth to chat with Specialty Media product specialists and see Midland’s newest products. Discover what’s next for your organization – infinite opportunities await you! Digital Sheet Fed Media + Specialty Offset Substrates + Production Inkjet Paper + Wide Format Inkjet Media. Register Now at: https://www.compusystems.com/servlet/ar?evt_uid=480&InvitesVIP=240851
National Average Price for Regular Unleaded Current: $3.809; Month Ago: $4.189; Year Ago: $3.183. National Average Price for Diesel Current: $5.076; Month Ago: $5.257; Year Ago: $3.289.
American Dollar to Canadian Dollar = 0.760624; American Dollar to Chinese Yuan = 0.144761; American Dollar to Euro = 0.999940; American Dollar to Japanese Yen = 0.007121; American Dollar to Mexican Peso = 0.049712.
Average student spending on college course materials declined during the 2021-2022 school year according to reports from two leading independent research firms. The most recent report from Student Watch, which is funded by the National Association of College Stores Foundation, found that student spending went from $456 during the 2020-2021 academic year to $339 for the 2021-2022, a decline of 26 percent. Similarly, independent research firm Student Monitor found that average student spending on college course materials, including textbooks and digital materials, declined 22 percent going from $405 last year to an average of $314 for the 2021-2022 academic year. “This year’s average course material spending is the lowest we’ve recorded over the past 15 years,” said Lacey Wallace, Research Analyst at the National Association of College Stores.
With a major investment of EUR 40 million in a now operational production asset, Ahlstrom-Munksjö cements its market position, upgrading its production platform in its well-established Beverage & Casing business. The advanced Voith paper machine line was installed on the Chirnside site in the Scottish Borders. This investment enables an improved product portfolio, higher quality, and significantly increased manufacturing capacity in addition to upgraded supply-chain security. The machine is now starting commercial grade production, marking a new era for the Beverage & Casing Business. To consolidate the success of the new line, the Radcliffe long fiber production facility in Scotland has also expanded to enable seamless vertical integration. “Commissioning the new paper machine allows us to serve our existing customers faster and better whilst facilitating our growth ambitions,” says Philippe Sevoz, Vice President of Beverage & Casing business. “Thanks to our Chirnside and Radcliffe team’s extensive knowledge and capabilities in Tea, Coffee and Casing we can continue to provide best-in-class innovative and sustainable products to our customers worldwide and can cement our unique position to become our customers’ supplier of choice.”
Canfor Corporation is announcing reduced operating schedules effective September 12, 2022 at its Swedish facilities due to a decrease in market demand. The reduced operating schedules will result in a 15% decrease in production capacity and are anticipated to be in effect through the fourth quarter. “Rising inflation and mortgage rates in Europe, which are expected to persist into the fall, is impacting demand for lumber and as a result we are reducing production capacity. We are committed to continuing to meet the needs of our customers,” said Don Kayne, President and CEO, Canfor. The decrease in production capacity will be achieved through reduced shifts. The Company will continue to assess and make adjustments to operating schedules based on changes in market demand.