Overview • Q3 2022 reported operating income of $108.6 million; quarterly sales of $1.7 billion • Downward pressure on global lumber market fundamentals and pricing following highs earlier in the year • Reduced Western Canadian operating schedules & European seasonal downtime led to lower shipments • Strong global pulp fundamentals & improved pulp production following capital-related downtime • Shareholder net income of $87.4 million, or $0.71 per share
Overview • Q3 2022 reported operating income of $19 million; net income of $16 million, or $0.25 per share • Strong global pulp fundamentals principally led by supply shortages; significant uptick in NBSK pulp unit sales realizations • Improved pulp production following capital-related downtime earlier in the year
A union representing 6,000 rail workers, said its members have voted against ratifying the tentative contract that was brokered between rail companies, unions and the Biden administration in September. The Brotherhood of Railroad Signalmen is the second union to reject the White House-brokered agreement. Earlier this month, the Brotherhood of Maintenance of Way Employees Division of the Teamsters rejected the tentative contract over frustration with compensation and working conditions, with the biggest issue being a lack of paid sick days. The unions that voted down the agreement have vowed to continue negotiations at least until Nov. 19, when a strike could potentially occur, although the timeline is uncertain.
HIGHLIGHTS • Pulp sales of 2,797 thousand tons (+5% vs. 3Q21). • Paper sales³ of 331 thousand tons (-2% vs. 3Q21). • Average net pulp price in export market: US$821/ton (+25% vs. 3Q21). • Average net paper price3 of R$6,905/ton (+40% vs. 3Q21). • Pulp cash cost ex-downtime of R$883/ton (+24% vs. 3Q21). • Leverage ratio declines to 2.1 times in USD and 2.2 times in BRL, despite the investment cycle. • Cerrado Project completes 31% of physical progress and 24% of financial progress
*Net sales increased 15% to $127.1 billion in the third quarter, compared with $110.8 billion in third quarter 2021. Excluding the $5.0 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 19% compared with third quarter 2021. *Operating income decreased to $2.5 billion in the third quarter, compared with $4.9 billion in third quarter 2021. *Net income decreased to $2.9 billion in the third quarter, or $0.28 per diluted share, compared with $3.2 billion, or $0.31 per diluted share, in third quarter 2021. *Operating cash flow decreased 27% to $39.7 billion for the trailing twelve months, compared with $54.7 billion for the trailing twelve months ended September 30, 2021.
Third Quarter Highlights *Delivered sales of $3.9 billion, up 16.9%, compared to the third quarter of 2021 on a reported and daily basis; up 20.3% on a daily, constant currency basis *Expanded gross margin by 145 bps compared to the third quarter of 2021 *Generated operating earnings of $603 million, up 37.6%, resulting in diluted EPS of $8.27, an increase of 46.4% versus the third quarter of 2021 *Produced $380 million in operating cash flow and returned $286 million to shareholders through dividends and share repurchases
All COVID-19 derogations and interpretations are now valid through 30 April 2023. In response to the ongoing challenges posed by COVID-19 pandemic, FSC has extended the validity of all COVID-19 related derogations and interpretations. These derogations and interpretations have been published in a single volume, together with related frequently asked questions. FSC will continue to monitor the situation and may either invalidate the derogations and interpretations prior to that date or may further extend the validity date before expiry of the COVID-19 derogations and interpretations.
Winners of the 2022 awards, which cover achievements in 2021, are as follows: The Environmental Sustainability Award recognizes excellence in environmental protection by minimizing the impact of the Company's operations, reducing material consumption or improving recycling or reuse. Our Chihuahua, Mexico beverage glass plant received this award for saving over 15.5 million gallons of water and improving the quality of the facility's wastewater. The Dahej, India plant in Crown's Transit Packaging Division received the Sustainability Award for Safety for its comprehensive approach to workplace safety and extensive track record of incident-free days – which currently stands at 2,342, or approximately six-and-a-half years. Crown's Conroe, Texas beverage can plant received the Social Sustainability Award, which recognizes activities that significantly impact the well-being of the workforce and/or the local community. The team has demonstrated a steadfast commitment to their community by participating in mentorship programs, food drives, job fairs and many other volunteer opportunities.
Holmen and SCA have decided to initiate a pre-study to evaluate the viability of building a new, large-scale sawmill together in the northern Swedish community of Rundvik in the county of Västerbotten. The pre-study, which only concerns a production cooperation at the Rundvik Sawmill, is set to begin straight away and is expected to be completed in the spring of 2023. Holmen produces sawn and refined wood products for joinery, construction and builders’ merchants. Following the acquisition of Martinsons in 2020, Holmen also offer customised solutions in CLT and glulam for climate-smart, large-scale wood construction.
National Average Price for Regular Unleaded Current: $3.761; Month Ago: $3.765; Year Ago: $3.399. National Average Price for Diesel Current: $5.308; Month Ago: $4.884; Year Ago: $3.623.
American Dollar to Canadian Dollar = 0.734720; American Dollar to Chinese Yuan = 0.138010; American Dollar to Euro = 0.995171; American Dollar to Japanese Yen = 0.006774; American Dollar to Mexican Peso = 0.050361.
The Board of Directors of Metsä Board Corporation has decided to launch a share buyback of company’s own shares. The number of shares to be acquired based on the authorisation shall not exceed 1,000,000 B shares, which corresponds to approximately 0.3% of all the shares in the company. The shares will be acquired for use as part of the company's share-based incentive system and to prepare for the remuneration of the Board. The aggregate amount to be used for the acquisition of own shares shall not exceed EUR 11,000,000. The shares are acquired in one or more lots in trading organised by NASDAQ Helsinki Oy on the regulated market at the market price valid at the time of acquisition. The shares shall be acquired and paid for in accordance with the rules of NASDAQ Helsinki Oy and Euroclear Finland Oy.
The Paper Excellence Group and Resolute Forest Products Inc. announced their intention to sell Resolute's Thunder Bay pulp and paper mill to further facilitate the regulatory review process. "Today's announcement is a clear demonstration of our commitment to timely complete the acquisition of Resolute," said Patrick Loulou, vice chair and chief strategy officer of the Paper Excellence Group. "This is a very hard thing to do, but we believe it is necessary in order to accelerate our strategic combination with the Paper Excellence Group," stated Remi G. Lalonde, Resolute's president and chief executive officer. "The mill is an exceptional asset. I am confident that the dedicated and talented team in Thunder Bay will have a prosperous future with any company fortunate enough to have them as part of their organization."
Third Quarter 2022 Highlights *Third quarter net earnings (loss) attributable to International Paper of $951 million ($2.64 per diluted share) compared with $511 million ($1.38 per diluted share) in the second quarter of 2022 and $864 million ($2.20 per diluted share) in the third quarter of 2021. Third quarter 2022 net earnings include a net after-tax benefit of $563 million ($1.56 per diluted share) related to the settlement of the previously announced timber monetization restructuring tax matter. Third quarter 2021 net earnings include a net after-tax gain of $350 million ($0.89 per diluted share) on the sale of our Kwidzyn, Poland mill. *10% year-over-year revenue growth based on strong price realization *$70 million of earnings achieved from Building a Better IP initiatives, bringing year-to-date to $175 million *Cash provided by operations of $435 million, bringing year-to-date to $1.4 billion *Returned $434 million to shareholders through share repurchases of $269 million and dividends of $165 million, bringing year-to-date to $1.6 billion
January–September 2022 (compared to 1–9/2021) *Sales were EUR 1,879.7 million (1,565.6). *The comparable operating result was EUR 420.0 million (295.3), or 22.3% of sales (18.9). Operating result was EUR 436.8 million (285.0). *Comparable earnings per share were EUR 0.90 (0.65), and earnings per share were EUR 0.94 (0.63). *Comparable return on capital employed was 23.0% (19.4). *Net cash flow from operations was EUR 161.7 million (209.8). July–September 2022 (compared to 7–9/2021) *Sales were EUR 647.3 million (516.1). *The comparable operating result was EUR 152.5 million (104.0), or 23.6% (20.1) of sales. Operating result was EUR 153.4 million (99.4). *Comparable earnings per share were EUR 0.33 (0.23), and earnings per share were EUR 0.33 (0.22). *Comparable return on capital employed was 24.7% (19.1). *Net cash flow from operations was EUR 66.4 million (59.1).
S&P Global reported third quarter 2022 results with reported revenue of $2.86 billion, an increase of 37% compared to the same period last year, primarily due to the inclusion of IHS Markit businesses, partially offset by declines in Ratings revenue. Continued execution drove growth across most of the Company's six divisions, while Ratings transaction revenue continues to be negatively impacted by a sharp year-over-year reduction in debt issuance. GAAP net income decreased 24% to $608 million and GAAP diluted earnings per share decreased 44% to $1.84 primarily due to the increase in shares outstanding as a result of the merger with IHS Markit. The Company plans to present strategic vision and multi-year targets at its previously announced Investor Day on December 1, 2022 in New York City. The event will be in-person by invitation, and webcast publicly.
At a time when the ad industry is coming under fire from regulators, advocacy groups and grassroots organizations for helping fossil fuel companies greenwash their reputations and/or obstruct climate action, a majority of consumers believe it should be held liable for that role. That's the finding of a survey of U.S. adults conducted Monday by Pollfish for MediaPost. The survey, which was fielded in response to recent Congressional hearings on the subject, as well as an Institute for Advertising Ethics (IAE) informational webinar to help the ad industry benchmark potential threats related to its role promoting fossil fuel brands, found Americans are more concerned about the ad industry's role in obstructing climate change than simply greenwashing fossil fuel company reputations.
The demand for more sustainable alternatives has driven the development of technologies designed for paper recycling programs in consumable products and packaging. Tough, affordable, recyclable and a viable alternative to single-use plastic packaging, paper e-commerce mailers like the ecoMLR are a more sustainable way to send small goods. The pros of using a paper e-commerce mailer such as the ecoMLR: *Cost savings – Lightweight to reduce postal and shipping costs *Waste reduction – More efficient with less free space & waste than cartons *Safe and Secure – Water-resistant with a secure opening *Easy to use – Self-seal is fast and simple to use and forms a water-resistant secure package *Easy to recycle – Recycle with your household paper waste *Easy on the environment – Kraft paper is made from 70% recycled paper *Premium quality – Kraft provides an ideal surface for showcasing your brand *Local Manufacture – Produced in Leeds supports British manufacturing *Advertising opportunities – Batch printing with your brand or third party offers to drive additional sales and revenue streams *Reusable – Single or multi-use designs
Inteplast Engineered Films (IEF) has invested heavily in expanding its InteGreen™ family of sustainable films. Updates include new mailer bag films made with up to 80% recycled content and low- and ultra-low seal initiation temperature (SIT) films. Mailer bags have increased the conveniences of shipping and deliver for both merchants and consumers by offering weather-resistant packaging for everything from jewelry to books. The SIT films are significant sustainable alternatives for companies who integrate recyclable materials in their stand-up pouches. For example, pouches containing microwavable rice, pet treats, or granola can be made more efficiently without sacrificing the quality of the special film that keep its contents fresh. It’s a win for manufacturers and end users.
January–September 2022 (1–9/2021) *Sales were EUR 5,239 million (4,457). *Operating result was EUR 986 million (652). Comparable operating result was EUR 966 million (694). *Result before taxes was EUR 961 million (616). Comparable result before taxes was EUR 934 million (658). *Comparable return on capital employed was 20.0% (16.4). *Net cash flow from operations was EUR 828 million (596). July–September 2022 (7–9/2021) *Sales were EUR 1,823 million (1,515). *Operating result was EUR 397 million (273). Comparable operating result was EUR 391 million (278). *Result before taxes was EUR 396 million (263). Comparable result before taxes was EUR 385 million (267). *Comparable return on capital employed was 23.5% (18.8). *Net cash flow from operations was EUR 372 million (222).
Sylvamo is announcing a $3 million expanded partnership with World Wildlife Fund (WWF) to further its commitment to forest conservation and restoration. The initiative is part of Sylvamo’s environmental, social and governance (ESG) strategy and 2030 goals. The enhanced collaboration through WWF’s Forests Forward program will enable Sylvamo to make progress on its goal to ensure healthy and productive forest ecosystems by focusing on sustainable sourcing, conservation and restoration projects. Through the program, Sylvamo is collaborating with WWF to: *Grow the availability of fiber from responsibly managed forests in Europe and North America *Advance understanding of the role paper manufacturing plays in a circular, low-carbon economy in Europe *Expand restoration in Brazil’s Atlantic Forest, focusing on the Mogi Guaçu River basin, where Sylvamo has important manufacturing operations
Mondi has helped Reckitt on its sustainability journey by designing new paper-based packaging for the company’s market-leading Finish dishwasher tablets. Packaging for dishwasher tablets must be sealable, durable and water resistant, so using paper has traditionally been challenging. However, by working closely together along Mondi’s EcoSolutions approach, Mondi and Reckitt were able to create a solution that is sustainable by design: the new Finish packaging has successfully replaced 75% of the plastic with responsibly sourced paper. The remaining plastic is used to strengthen the paper structure and provide barrier protection to ensure the quality and safety of the Finish product as well as a re-closable seal. The new paper-based packaging for Finish will initially launch exclusively with Carrefour in France, where the packaging is recyclable in the existing paper recycling streams.
Third Quarter 2022 Financial Highlights: *Produced revenue of $895 million, an increase of 3% compared to the prior year, driven by higher TiO2, zircon and pig iron prices and higher pig iron volumes *Generated income from operations of $163 million and net income of $123 million *Delivered Adjusted EBITDA of $247 million and an Adjusted EBITDA margin of 27.6% *Invested $112 million in capital expenditures, primarily in our vertical integration and newTRON initiatives *Generated free cash flow of $25 million in the quarter *Returned $110 million to shareholders in the nine months ending September 30, 2022 in the form of share repurchases and dividends
Recognized in the Food/Beverage category, Berry Global Group, Inc. received a Technology Excellence Award from The Association for Packaging and Processing Technologies (PMMI) for its Proxima tethered closure with tamper-evident band. This innovative packaging solution cuts down on waste by securing the closure to the bottle and improving recyclability. “To help our customers meet the growing sustainability demands of today and tomorrow, we develop new products and materials that are designed to advance a pathway to circularity,” said Jean-Marc Galvez, President of the Consumer Packaging International Division at Berry Global. “As we push the limits of innovation with creative, sustainable packaging solutions, it is an honor to be recognized by our peers and other packaging experts.”
Commenting on the results, Nigel Newton, Chief Executive, said: “Bloomsbury achieved very strong results in the first half with year-on-year revenue growth of 22% to £122.9 million and profit growth of 23% to £15.9 million. These are our highest ever first half sales and profits. These results demonstrate the strength and resilience of our strategy of publishing for both the consumer and academic markets, our growth of digital revenues and our global diversification. Throughout this cost of living crisis, books remain an affordable treat. Reading offers a form of escapism and an ideal – and inexpensive – therapy for dealing with the stresses and strains of day-to-day life. The success of Bloomsbury Digital Resources (“BDR”) accelerated, with revenue growth of 69% driven by organic and acquired assets. This drove the Non-Consumer division’s revenue growth of 24% and a 54% increase in profit before tax and highlighted items1 to £7.1 million. Resilient demand saw the Consumer division revenue grow by 21%, achieving a 6% increase in profit before tax and highlighted items1 to £8.9 million. Our financial position is strong, with net cash of £41.5 million. This gives us significant opportunities for further acquisitions and investment in organic growth.
After its invention in the 20th century, plastic was seen as a miracle material. Today, we know about the various health and environmental risks it brings. Korean company Dongnam Realize found a sustainable alternative in CXP, a new kind of thermosoftening wood made from PEFC-certified wood. Thanks to its plastic-like properties, CXP can replace the plastic products we use in our daily lives. We spoke to Seunghoon Lim, Chief Technology Officer at Dongnam Realize, who told us more about the material and its potential to make the future more sustainable.
Silgan Holdings Inc. reported record third quarter net sales of $1.97 billion, a 19.3 percent increase over prior year third quarter net sales of $1.65 billion, and record third quarter 2022 net income of $138.7 million, or $1.25 per diluted share, as compared to third quarter 2021 net income of $106.3 million, or $0.96 per diluted share. “The Silgan team continued to deliver new all-time record adjusted EPS in both the third quarter and year-to-date periods, with a 25 percent increase as compared to the prior year quarter and an over 20 percent increase for the year-to-date period,” said Adam Greenlee, President and CEO.
Total European shipments of graphic papers in August 2022 were down 11.2% vs. August 2021 and were down 10.5% year-to-date. Total European shipments of newsprint in August 2022 were down 10.1% vs. August 2021 and were down 7.3% year-to-date. Total European shipments of sc-magazine in August 2022 were down 17.4% vs. August 2021 and were down 14.1% year-to-date. Total European shipments of coated mechanical reels in August 2022 were down 21.1% vs. August 2021 and were down 20.3% year-to-date. Total European shipments of uncoated mechanical (improved & others) in August 2022 were down 17.3% vs. August 2021 and were down 13.8% year-to-date. Total European shipments of coated woodfree in August 2022 were down 4.8% vs. August 2021 and were down 0.9% year-to-date. Total European shipments of uncoated woodfree in August 2022 were down 4.3% vs. August 2021 and were down 10.2% year-to-date.
Label and Graphic Materials *Reported sales increased 12% to $1.5 billion. Sales were up 20% ex. currency and 20% on an organic basis.*Reported operating margin increased 60 basis points to 14.3%. *Inflation continues to be significant in the company’s materials businesses, with it now anticipating more than 20% inflation in 2022 compared to prior year. Retail Branding and Information Solutions *Reported sales increased 17% to $623 million. Sales were up 22% ex. currency and 7% on an organic basis. *Reported operating margin increased 120 basis points to 12.2%. Industrial and Healthcare Materials *Reported sales decreased 2% to $192 million, up 5% on an organic basis. *Reported operating margin increased 100 basis points to 10.6%.
Suzano S.A. hereby informs its shareholders and the market in general the execution, on October 24th, 2022, of an Equity Purchase Agreement entered into by and between the Company, as Buyer, Kimberly-Clark Brasil Indústria e Comércio de Produtos de Higiene Ltda. (“KC Brasil”), as Seller, and KimberlyClark Worldwide, Inc. (“KC”) as guarantor, for the acquisition, by the Company, subject to certain conditions precedent, of all the quotas held by KC Brasil in a new company that will be the holder of the assets related to the business of manufacturing, marketing, distributing and/or selling of tissue products, including toilet paper, paper towels, napkins, tissues, as well as other paper products in Brazil, including ownership of the brand “NEVE”. As part of the deal, the other global brands currently used by KC Brasil will be licensed to the Company for a specific term. The main asset included in the Transaction consists on a tissue production plant, located in the municipality of Mogi das Cruzes, in the State of São Paulo, with an annual production capacity of approximately 130 thousand tons. The Transaction is aligned with the Company’slong-term strategy to “advance in the links of the value chain”, as is widely public knowledge, representing geographic complementarity and synergy gains with its current consumer goods business (tissue).
Q3 highlights *Sales increased by 36% to EUR 3,420 million (2,523 million in Q3 2021) *Comparable EBIT grew by 84% to EUR 779 million, 22.8% of sales (424 million, 16.8%) *Operating cash flow was EUR -201 million (318 million), impacted by cash flow from energy hedges. Other operating cash flows were largely as expected *The rise in energy futures prices continued, causing short-term cash outflow impact from energy hedges. Respectively, it indicates the strong earnings potential of UPM Energy *Sales prices increased in all business areas and more than offset the negative impact of higher variable costs *Cash funds and unused committed credit facilities totalled EUR 5.2 billion at the end of Q3 2022. UPM signed EUR 4.3 billion of credit facilities during Q3 *In August, EcoVadis recognised UPM on Platinum level based on the company’s sustainability performance *In September, UPM Raflatac completed the acquisition of AMC AG *In October, the new deep sea pulp terminal in the port of Montevideo in Uruguay was inaugurated
Q3 2022 Highlights *Net Sales were $2,451 million versus $1,782 million in the prior year quarter. *Net Organic Sales increased 5% in the quarter and 4% year-to-date driven by global demand for sustainable, innovative fiber-based consumer packaging solutions. *Net Income was $193 million versus $73 million in the prior year quarter. *Global liquidity was $1.4 billion at quarter end. *Repurchased $15 million of common stock during the quarter; returned $38 million in total to stockholders in share repurchases and dividends. *In October, published 2021 environmental, social and governance (ESG) report reaffirming organization-wide focus on continuous improvement and highlighting the milestones achieved during the year advancing the Company's Vision 2025 ESG goals.
UPS announced third-quarter 2022 consolidated revenues of $24.2 billion, a 4.2% increase over the third quarter of 2021. Consolidated operating profit was $3.1 billion, up 7.5% compared to the third quarter of 2021, and up 6.0% on an adjusted basis. Diluted earnings per share were $2.96 for the quarter; adjusted diluted earnings per share of $2.99 were 10.3% above the same period in 2021. For the third quarter of 2022, GAAP results included after-tax transformation and other charges of $27 million, or $0.03 per diluted share.
The Book Manufacturers’ Institute (BMI) has announced recipients of the Master Bookman and Signature Award, as well as three new members to the Cased-in Club. The honors, which will be presented Monday evening November 7th at the Awards Banquet at the Fall Annual Conference in St. Petersburg, Florida, recognize BMI members who not only contribute to the success of their organization, but also to the continued success of the book manufacturing industry. Matt Baehr, Executive Director of BMI, said, “This group of award winners has truly shaped the book industry for decades. I am very excited to celebrate their accomplishments, and the book industry as a whole.”
Adams Publishing Group is acquiring The Livingston Enterprise and its parent company Yellowstone Newspapers, consisting of 13 small-town Montana newspapers. Terms were not disclosed. The deal was reached last Friday by John Sullivan, president of the Montana Group, and Mark Adams, president and CEO of Minnesota-based Adams Publishing Group (APG). It is expected to close on Nov. 1. This marks the end of a 57-year reign in the local newspaper business for the Yellowstone Group.
Since the campaign began in 2010, globally, Two Sides has successfully challenged over 970 organisations that subject their customers to repeated greenwashing messages which are damaging to the paper, print and mailing industry. With huge pressures on the economy; banks, telecom providers, utility companies and even governmental organisations are increasingly focused on switching their customers from paper to digital services to cut costs. All too often their customer communications attempt to mask these cost-saving efforts, justifying the switch with unfounded environmental marketing appeals such as “Go Green – Go Paperless” and “Choose e-billing and help save a tree.” “Not only are these greenwash claims in breach of established environmental marketing rules, but they are hugely damaging to an industry which has a solid and continually improving environmental record,” says Two Sides Europe Managing Director Jonathan Tame. “Far from ‘saving trees,’ a healthy market for forest products such as paper encourages the long-term growth of forests through sustainable forest management. Many of the organisations we engage are surprised to learn that European forests have actually been growing by 1,500 football pitches every day.”
Packaging Corporation of America reported third quarter 2022 net income of $262 million, or $2.80 per share, and net income of $266 million, or $2.83 per share, excluding special items. Third quarter net sales were $2.1 billion in 2022 and $2.0 billion in 2021. Reported earnings in the third quarter of 2022 include special items primarily for certain costs at the Jackson, AL mill for paper-to-containerboard conversion related activities. Excluding special items, the $.14 per share increase in third quarter 2022 earnings compared to the third quarter of 2021 was driven primarily by higher prices and mix in our Packaging $1.60 and Paper $.23 segments, lower interest expense $.04, a lower share count resulting from share repurchases $.04, and a lower tax rate $.02. These items were partially offset by higher operating costs ($.77), lower volume in our Packaging ($.52) and Paper ($.05) segments, higher freight and logistics expenses ($.20), higher scheduled outage expenses ($.10), higher depreciation expense ($.07), higher converting costs ($.04), and other expenses ($.04).
Duro®, a Novolex® brand, has earned the Biodegradable Products Institute (BPI) certification for numerous products in its Dubl Life® line of paper bags and sacks. The products are among the first on the market to receive this leading certification, further expanding the portfolio of certified compostable products offered by Novolex. In another first, the bags will also feature the How2Compost® and How2Recycle® labels, which inform consumers of how to dispose of the packaging after use. The How2Compost and How2Recycle labeling systems are managed by the Sustainable Packaging Coalition® (SPC), whose members include forward-thinking brands that want their packaging to be recycled and composted, and are empowering consumers to do so through informative labels. The goal of these labels is to clearly communicate the composting and recycling instructions for these products to the public.
Net sales in the third quarter were $3,259 million compared to $2,920 million in the third quarter of 2021 reflecting increased beverage can unit volumes and the pass through of higher raw material costs partially offset by unfavorable foreign currency translation of $127 million. Income from operations was $297 million in the third quarter compared to $348 million in the third quarter of 2021. Segment income in the third quarter of 2022 was $336 million compared to $379 million in the prior year third quarter reflecting higher energy prices, costs associated with higher inventory levels and unfavorable foreign currency translation of $8 million.
The Navigator Company received approval for its targets to reduce greenhouse gas (GHG) emissions from the Science Based Targets Initiative (SBTi), an internationally recognised global organisation that assesses corporate initiatives working towards a low carbon economy. SBTi praised the "ambitious targets" proposed by the company earlier this year shortly after it joined, and underlined Navigator's contribution to achieving the goals set out in the Paris Agreement not to exceed a 1.5°C temperature increase, currently the most ambitious designation as part of the approval process of this organisation.
Key highlights Q3: Strong organic* and currency neutral sales growth of 20%; Record underlying EBITDA performance; Price and mix management more than offset cost inflation; Excellent cash delivery and all-time low leverage. Quarterly data Q3: Net sales increased by 82% to SEK 11,814 million (6,494), whereof Billerud North America accounted for SEK 3,718 million; Operating profit was SEK 1,536 million (639); Net profit was SEK 1,347 million (477)
Executive Summary *Third quarter 2022 net sales of $5.1 billion increased 1 percent compared to the year-ago period, including organic sales growth of 5 percent. *Diluted net income per share for the third quarter was $1.38 in 2022 and $1.39 in 2021. *Third quarter adjusted earnings per share were $1.40 in 2022, down 14 percent compared to $1.62 in 2021. Adjusted earnings per share exclude certain items described later in this news release. *The company continues to target full-year 2022 organic sales growth of 5 to 7 percent and expects adjusted earnings per share at the lower end of $5.60 to $6.00 range
Delaware-based global water technologies leader Solenis has chosen its hometown of Wilmington as the site for a $40 million research and development expansion. In response to increasing market demand for its sustainability-focused products and expertise and with an eye toward long-term growth, Solenis will expand its R&D operations with a move to the 100,000-square-foot Building 713 at Chestnut Run Innovation and Science Park (CRISP). CRISP is a former DuPont campus that MRA Group is developing into a hub for a range of life sciences and advanced chemical companies. The new CRISP facility will provide Solenis with 20,000 square feet more lab space than the company currently has at its existing R&D center on Ashland’s Wilmington campus. In addition to more space, the larger, upgraded site will allow Solenis to add up to 46 new highly skilled Delaware jobs — including lab technicians, scientists and R&D supervisors — within the next three years.
Taking a quantum leap forward in reducing weight in packaging, Amcor Rigid Packaging has developed a revolutionary two-step, lightweighting technology that eliminates more than 50% of the material and weight in the finish of the bottle. A leader in developing technology that produces more sustainable packaging options, ARP’s new Quantum™ technology for polyethylene terephthalate (PET) bottles delivers sustainability benefits, lowers cost, and improves packaging appearance. By removing more than 50% of the material and weight from the finish, the new Quantum™ technology reduces manufacturing costs and GHG emissions, resulting in energy savings and lower carbon emissions compared to bottles with a traditional finish. Quantum™ technology also allows for up to 100% recycled material use and provides a superior consumer experience with a more sustainable, fully recyclable package.
Committed to bringing to market innovative solutions that increase productivity and sustainability, Klabin announces the launch of PineFluff eXcel, a fluff pulp made from a mix of fibers (eucalyptus hardwood pulp and pine softwood pulp) targeting the hygiene products market (baby and adult diapers, sanitary pads, pet mats, etc.). A global pioneer in combining pine and eucalyptus fibers, the solution expands alternatives for innovative designs that improve aspects such as fluid retention and distribution as well as softness of the end product reaching consumers. Laboratory studies showed excellent potential for defibrated material, which enhances the perception of softness to touch and comfort during product use. The solution also brings competitive advantages for distribution logistics, packaging optimization and lower energy consumption during production.
Paper Excellence on 10/21/2022 announced that one of the unions at its Crofton mill, the Public and Private Workers of Canada (PPWC) local 2, has given 72-hour strike notice, putting the union in a strike position on Saturday October 22, 2022. Since July 2022, the company has been negotiating with PPWC local 2, which represents 370 of the 575 employees that work at the site. Those discussions have recently hit an impasse, and the company’s mediation request was rejected by the union. The negotiations committee will continue to meet as they try to resolve the situation. To protect the health and safety of employees, the integrity of the local environment, and preserve the company’s assets at Crofton, Paper Excellence has begun a controlled and orderly shutdown of the kraft pulp mill and mechanical paper operations.
Packaging is essential to our capacity to deliver wholesome, premium food and beverages to people all over the world, but we are convinced that this cannot be done at the expense of the environment. The typical packaging system in use today is unsustainable since it is still essentially linear: raw materials are used to create packaging for products, which is then discarded once the products have been used. Important problems are being caused by this approach, especially when it comes to plastics. At Stora Enso, we are inspired by the mission "Do good for people and the world," which is why we seek to collaborate with businesses that share our values. And we couldn't be more pleased to collaborate with Dizzie in the United Kingdom, a truly inspiring circular solution for home delivery of dry food products. Customers can buy necessities without packaging waste by utilizing the same reusable pots produced in Biocomposites by Stora Enso, which helps cut 114 billion pieces of plastic from shop shelves in the UK alone each year. So, how does it work? Products are packed in waste-free packaging that is delivered to the consumers’ doorstep with carbon-neutral delivery. When they run out of product, Dizzie will collect the pots, wash them, and fill them again & again & again…
Stora Enso has decided to invest approximately EUR 1 billion to convert the remaining idle paper machine at the Group’s Oulu site in Finland into a high-volume consumer board production line. The investment supports the Group’s growth strategy in renewable packaging by providing new volume for growing packaging segments. Production on the converted machine is estimated to start in early 2025. Following the first machine conversion at the Oulu site in 2021 from paper to kraftliner, the remaining idle paper line will be converted into a state-of-the-art highly flexible consumer board line for folding box board (FBB) and coated unbleached kraft (CUK). The total annual capacity will be 750,000 tonnes of consumer board. The target end-use segments are food and beverage packaging, especially frozen and chilled, and dry and fast food, mainly in Europe and North America.
Q3/2022 (year-on-year) *Sales increased by 15% to EUR 2,963 (2,577) million. *Operating profit (IFRS) increased to EUR 511 (386) million. *EPS was EUR 0.47 (0.38) and EPS excl. fair valuations (FV) was EUR 0.47 (0.37). *Cash flow from operations amounted to EUR 639 (485) million. Cash flow after investing activities was EUR 489 (347) million. Q1-Q3/2022 (year-on-year) *Sales were EUR 8,816 (7,445) million. *Operational EBIT was EUR 1,536 (1,102) million.
Q1-Q3 2022 in brief • Net sales increased 31% to EUR 3,375 million (EUR 2,575 million) • Comparable net sales growth at Group level was 18 % and 19% in emerging markets • The impact of currency movements on the Group’s net sales was EUR 186 million and EUR 16 million on EBIT • Capital expenditure was EUR 185 million (EUR 147 million) • Free cash flow was EUR -60 million (EUR 28 million)
The major freight railroads appear unwilling to give track maintenance workers much more than they received in the initial contract they rejected last week, increasing the chances of a strike. The railroads took the unusual step of issuing a statement late Wednesday rejecting the Brotherhood of Maintenance of Way Employes Division union’s latest request to add paid sick time on top of the 24% raises and $5,000 in bonuses they received in the first five-year deal. Union Pacific CEO Lance Fritz said Thursday that he thinks the main reason the BMWED rejected its initial contract last week was that the details of improved expense reimbursement in the deal were still being negotiated at Union Pacific while workers were voting. So it wasn’t clear exactly what those workers would receive for their travel expenses when they go on the road to repair tracks. Six of the 12 railroad unions that represent 115,000 workers nationwide have approved their tentative agreements with the railroads so far, but all of them have to ratify their contracts to avoid a strike.
Komori announced that Nosco®, a full-service packaging solutions provider, has purchased a nine-color Lithrone GX40RP advance (GLX940RP advance) dedicated two-sided press, with coater and LED-UV curing. Headquartered in Gurnee, Illinois, Nosco is a subsidiary of Holden Industries, Inc., which is a 100% employee-owned company. Investment in the new press is part of Nosco’s bold growth plans to scale up folding carton production at its Wisconsin-based Packaging Innovation Center by 125 million units in 2023. In support of that goal, the GLX940RP advance is uniquely configured to meet the specific needs of the company’s rapidly expanding pharmaceutical packaging business, which serves more than 450 of the major pharmaceutical companies across the United States. The GLX940RP advance, a recipient of the industry-renowned InterTech™ Technology Award, is a dedicated two-sided printing press that makes it possible for Nosco to provide up to eight-color printing on the outside and one color on the inside of the package that many pharmaceutical packaging applications require.
Can you imagine a future without paper? As it turns out, few can. Despite advancing technology and talk of a paperless society, paper still plays a role in our imagined future. Perhaps that’s because paper is one of only a few truly sustainable products — it’s renewable, recyclable and can be managed sustainably. In the United States and Canada, Domtar has been a leader in advancing the circular economy of paper products by recycling and using wood waste to create renewable energy, and by promoting the recyclability of paper-based products and packaging, which will allow us to continue making products sustainably well into the future. Pop culture points to the continued presence of paper in our daily lives for decades to come, with paper-based products seen in unexpected places on screens of all sizes.
FY2023 first quarter service performance scores covering Oct. 1 through Oct. 14 included: *First-Class Mail: 92.9 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal fourth quarter. *Marketing Mail: 94.4 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal fourth quarter. *Periodicals: 87.6 percent of Periodicals delivered on time against the USPS service standard, an improvement of 0.7 percentage points from the fiscal fourth quarter.
The U.S. advertising marketplace fell 4.6% in September vs. the same month a year ago, marking the fourth consecutive monthly decline, and suggesting the beginning of a new U.S. ad recession. While the June-September 2022 declines compare with healthy gains for the same months a year ago, the 2021 boom was also the beginning of downward trend (see chart above). The new monthly data comes as major agency holding company forecast units have been reaffirming double-digit growth expectations for calendar year 2022 and mid-single-digit gains for 2023, at least at this point.
Print continues to be the preferred media for magazine and book readers, challenging conventional industry thinking that digital is dominant. There’s little doubt that the global media and publishing industries are putting a lot of effort into pushing readers online. Whether it’s books, magazines, newspapers or advertising, the vast majority of investment is being made into the virtual rather than the physical, with companies focusing solely on digital at the expense of print. But it seems that readers are pushing back against the rising swell of digital content, continuing to show love for the traditional format and its many benefits. This love has been demonstrated in a number of recent studies, which show the enduring popularity of print magazines around the world and record-breaking figures for print book sales.
PPC Flexible Packaging LLC announces the acquisition of Kansas City, KS-based Plastic Packaging Technologies, LLC (PPT). PPC, headquartered in Buffalo Grove, IL, is a leader in printing and converting of flexible films, pouches, and other innovative packaging designs, including prototypes. It is a recognized pioneer in cleanroom packaging for healthcare and medical applications, consumer snack and organic brands, specialty produce, pet, nutraceutical, bakery and horticulture markets. With the addition of PPT, the firm now operates thirteen manufacturing facilities in Buffalo Grove, IL, Mission and Kansas City, KS, Rome, GA, Payson, UT, Pewaukee, WI, Colombia, South America, McKinney, TX, Columbus and Alliance, OH, North Salt Lake, UT, and Hartland, WI. Its facilities are AIB, SQF level II and ISO-9001 certified. Founded in 2017 with its first acquisition, PPC provides the highest quality products with best-in-class lead times to service both emerging and recognized brands.
Intertape Polymer Group Inc. in collaboration with IMA, world leader in the design and manufacture of automatic machines, introduce the “Pack Station of the Future” at Pack Expo International 2022 in Chicago, IL on the 23rd of October, South Hall Booth S-2814. “Over the next decade, in all geographic regions, e-commerce sales continue to grow as a percentage of overall retail sales. Advanced packaging automation will be necessary to help e-tailers improve both throughput and their cost position as labor markets remain tight,” states Zach Kissel, VP Global E-Fulfillment with IPG. “The introduction of the E-CO Flex1 would allow for multiple pack stations to be combined into one without losing throughput and utilizing much less real estate than the multiple pack station model being used today.”
Smurfit Kappa’s Townsend Hook paper mill in the UK has introduced a new state-of-the art drying process innovation to reduce energy consumption and CO2 emissions. Traditionally, paper drying is one of the most energy-intensive aspects of the manufacturing process. The innovative new processes implemented have resulted in a 6% reduction in steam energy consumption and a 5% reduction in total CO2 emissions from the Kent-based paper mill. A ‘digital twin’ approach was used in the project to create a virtual representation of the drying system to simulate how it would perform. An early example of digital twin technology usage was during the rescue mission of the Apollo 13 spacecraft in 1970 when computer models were used to determine flight characteristics far from earth.
Konica Minolta Business Solutions U.S.A., Inc. (Konica Minolta), a leader in industrial and commercial printing and packaging solutions, today announced a new digital embellishment press, the JETvarnish 3D 52L. Its B2 format targets a wide range of customers such as commercial and package printers. As the successor model to the JETvarnish 3D, this new digital embellishment press provides sensory print applications for printers of every size. The JETvarnish 3D 52L will allow printers, finishers and converters to have an in-house full production and prototyping print embellishment system without screens, dies or plates. The all-purpose patented varnish formula allows both flat 2D Spot UV highlighting and sculptured 3D raised special effects on a wide range of substrate stocks and up to 600gsm, from offset and digital inks to lamination films and aqueous coatings.
Interfor Corporation announced plans to reduce its lumber production output in the fourth quarter of 2022 by approximately 200 million board feet, or 17% of quarterly capacity, as current economic conditions and market uncertainty have led to reduced lumber demand. This temporary reduction in output is expected to be spread across each of the Company’s operating regions, primarily timed around U.S. Thanksgiving and Christmas holiday periods, and used to accelerate ongoing capital and maintenance projects. The Company’s lumber inventories are currently within normal volume parameters, and these plans are expected to maintain the balance between production and market demand through the remainder of 2022. The Company currently expects to resume its normal operating schedule in January 2023, but will closely monitor market conditions and adjust its production plans accordingly.
BIXOLON has certified the blue Blue4est® thermal paper for use in its premium SRP-380 thermal receipt printer. BIXOLON’s SRP-380 printer delivers perfect printing results every time on the blue thermal paper thanks to the smart media function, a special Blue4est® setting. The blue receipt is continuing its ascent as more and more companies put a premium on sustainability as they respond to their customers’ demand for more environmentally conscious products and services. Consumers can easily recognize that the receipts are environmentally friendly given the paper’s blue color. This is a result of the novel way in which the paper works: Koehler’s Innovation & Technology division developed a process which completely eliminates the need for color developers, meaning the Blue4est® till receipt is fully recyclable and can be disposed of as wastepaper.
Mondi has announced the approval of a €400 million investment in a new paper machine at its flagship Štětí mill in the Czech Republic. The investment forms part of the Group’s €1 billion expansionary capital investment programme to accelerate growth in sustainable packaging and will further strengthen Mondi’s leading position in the market. The investment will help Mondi to meet the growing demand for paper-based flexible packaging, underpinned by growth in eCommerce and sustainable packaging, and will contribute to increasing Mondi’s range of innovative, sustainable packaging and paper solutions. The new machine will produce around 210,000 tonnes per annum of sack kraft paper supporting Mondi’s Paper Bags business thanks to the benefits of a vertically integrated value chain. It will also allow Mondi to optimise production across the remaining kraft paper portfolio and strengthen its leading position in speciality kraft paper across a broad range of applications such as functional barrier papers.
National Average Price for Regular Unleaded Current: $3.820; Month Ago: $3.681; Year Ago: $3.369. National Average Price for Diesel Current: $5.34; Month Ago: $4.928; Year Ago: $3.579.
American Dollar to Canadian Dollar = 0.724714; American Dollar to Chinese Yuan = 0.138063; American Dollar to Euro = 0.976118; American Dollar to Japanese Yen = 0.006601; American Dollar to Mexican Peso = 0.049899.
Norske Skog’s EBITDA in the third quarter of 2022 was NOK 508 million, a decrease from NOK 905 million in the second quarter of 2022. The third quarter EBITDA was impacted negatively by reduced volumes and higher fixed costs per tonnes following the closure for conversion of PM3 to containerboard production at Norske Skog Bruck, reduced CO2 compensation in Norway and significant increases in energy and raw materials, which more than offset the increase in sales prices for all grades. The containerboard conversion projects are progressing as planned. “Despite the turbulence in the energy and raw material markets, we have been able to sustain satisfactory margins on our publication paper products. Our conversion projects at Bruck and Golbey are progressing as planned, and will contribute to a long-term sustainable industrial platform,” says Sven Ombudstvedt, CEO of Norske Skog.
In a world in which digital marketing continues to grow, a new brand is still mailing a catalog for the first time every month. That’s not the strange part, however. What is strange is WHO is mailing these catalogs: e-commerce retailers. Amazon, Wayfair, One King’s Lane and Everlane are just a few examples of formerly online-only brands that took the leap into the catalog sphere. Ironically, one such catalog I received in the mail is called “OnlineShoes.com”! Furthermore, brands which have traditionally sold through brick-and-mortar stores are increasingly adding catalogs to drive traffic to both their website and stores. In many cases, these brands have discovered that by adding a catalog to the marketing mix, customer value increases fourfold! According to the Direct Marketing Association, close to 90 million Americans currently purchase from a catalog. Interestingly, nearly 60 percent of them are women. So why do catalogs still work in a digital world? Check out our recent blog to learn more at: https://www.jschmid.com/blog/designed-for-growth-the-catalogs-resurgence/
Come next year things are going to go from bad to worse. Senior marketers know it and are already making contingency plans. Read: rationalizing ad dollars. Less than a third (29%) of the world’s largest advertisers plan to slash ad dollars next year, according to a study of 43 multinational companies from the World Federation of Advertisers (WFA) and Ebiquity. Three quarters of the sample “agree strongly” or “agree” that 2023 budgets are under heavy scrutiny. Marketers are already being required to justify their investments. For many of them, 2023 will feel a lot like a recession. It’s not all doom and gloom. Some of those marketers surveyed (28%) claim they will invest more next year, per the study.
The Association of American Publishers (AAP) today released its StatShot report for July 2022 reflecting reported revenue for Trade (Consumer Books), Higher Education Course Materials, and Professional Publishing. The report does not include PreK-12 revenue due to delays in data collection but will be updated as soon as that data becomes available. Total revenues across all categories, excluding PreK-12, for July 2022 were down 14.9% as compared to July 2021, coming in at $1.0 billion. Year-to-date revenues were down 4.1%, at $6.6 billion for the first seven months of the year. Trade (Consumer Books) sales were down 11.6% in July, coming in at $668.4 million. In terms of physical paper format revenues during the month of July, in the Trade (Consumer Books) category, Hardback revenues were down 26.5%, coming in at $177.7 million; Paperbacks were down 4.6%, with $273.6 million in revenue; Mass Market was down 42.5% to $14.8 million; while Special Bindings were down 2.5%, with $17.2 million in revenue.
The Minnesota Daily, a campus publication dating back 120 years, has apparently given up its print edition for good. The newspaper cut off print in 2020—supposedly on a temporary basis. “To the University community, It is with a heavy heart that we are announcing that the print edition of the Minnesota Daily has been canceled for the summer,” wrote then editor Cleo Krejci in an editorial. But now it is apparent that the daily has never been restored, and that it won’t be in the future.
American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 0.5% in September after rising 2.1% in August. In September, the index equaled 118.8 (2015=100) versus 118.2 in August. “The latest gain put tonnage at the highest level since August 2019 and the third highest level on record,” said ATA Chief Economist Bob Costello. “This is another example of how the contract freight market remains strong despite weakness in the spot market this year. During the third quarter, tonnage increased 0.5% over the second quarter while increasing 5.6% over the same period in 2021. That was the largest quarterly year-over-year increase since the second quarter of 2018.” Compared with September 2021, the SA index increased 5.5%, which was the thirteenth straight year-over-year gain. In August, the index was up 6.7% from a year earlier. Year-to-date through September, compared with the same period in 2021, tonnage was up 4%.
ePac Flexible Packaging, the industry leader in quick turn, short and medium run-length flexible packaging, is expanding its offering to include long run orders for brands of all sizes, while continuing to serve its SMB core customer base. The point at which the run length of a job makes it more cost effective to use conventional vs. digital printing is known as the crossover point. This, and factors such as lead times, plates, freight, and inventory obsolescence costs combine to determine when a job is best run digitally. Increasing this crossover point is where the company has been focused. ePac has been steadily building its infrastructure to increase the run length of jobs that are cost effectively produced on its fleet of over 50 HP Indigo digital presses located across the globe.
Moore, a leading constituent experience management company, announces the acquisition of Communications Corporation of America, an industry innovator of direct mail printing, data processing, personalization, finishing and mail processing. Moore has made the investment in CCA to add to its supply chain strength across printing, production and envelope manufacturing in the mid-Atlantic region. “As CCA celebrates our 51st anniversary and five years of successfully rebuilding after our catastrophic fire, we are ready to move forward. We see becoming a Moore company as a synergistic step that is the best fit for our clients and our CCA team,” said Linda Fisher, president of CCA and Direct Marketing Association of Washington Hall of Leaders member. “Through our partnerships with our clients, we create cutting-edge solutions that set us apart from our competitors. With Moore's well-known investment in innovation, we're excited to see what we can accomplish together."
Earlier this year, BillerudKorsnäs combined with Verso Corporation to create Billerud, a world leading paper and packaging materials company based in Sweden with roots in the forest and paper industry that go beyond 150 years. “One year ago, we developed a strategic plan with a clear goal of achieving profitable and sustainable growth long term by expanding our cartonboard business in North America,” says Billerud President and CEO Christoph Michalski. “We were pleased to find Verso, a leading paper manufacturer in the US, with assets that can be turned into paperboard”. “By converting some of legacy Verso’s assets into premium cartonboard machines, Billerud will increase its supply of high-quality and low carbon-footprint cartonboard for end uses such as cosmetics, pharma and healthcare, luxury drinks and confectionary products, among others, to meet the increasing need for more sustainable packaging materials in North America and beyond,” says President of Billerud North America Rob Kreizenbeck. Sustainable packaging is no longer optional. It’s a must for any brand that wants to future-proof its business.
*Operating profit for January–September 2022 was SEK 5 905 million (January–September 2021: 2 725). Excluding the item affecting comparability, operating profit increased by SEK 2 764 million to SEK 5 640 due to higher selling prices, while cost inflation was limited by our high level of wood and energy self-sufficiency. *Compared with the second quarter, operating profit for the third quarter decreased by SEK 180 million to SEK 1 921 million. A weaker wood products market had an adverse impact, but this was largely offset by higher earnings in other business areas. *Profit after tax for January–September amounted to SEK 4 606 million (2 136), which corresponds to earnings per share of SEK 28.5 (13.2).
UPM Communication Papers is collaborating with HP Inc to pilot a new generation of digital printing papers specifically designed for high-speed inkjet printing technology. The new portfolio includes four treated, coated grades, that provide productive and smooth printing, excellent image production and ease of use for customers. The ColorPRO papers are compatible with all existing HP Inkjet presses, as well as the newest generation that will be unveiled at PRINTING United Expo in Las Vegas (October 19th-21st, 2022).
Canfor Pulp Products Inc. is announcing a temporary curtailment of its Intercontinental Pulp Mill due to the lack of available economic fibre. Following its annual turnaround maintenance that began on September 24, 2022 and lasted for two weeks, the facility has implemented a two-week curtailment. Regular operations are expected to resume on October 24, 2022. In total the four weeks of downtime is reducing Canfor Pulp's production output by approximately 28,000 tonnes of market kraft pulp. "Despite strong global pulp markets, we are experiencing a shortfall of economic fibre in British Columbia. The fibre for pulp mills is increasingly constrained due to the impacts of the decreasing allowable annual cut, the end of the Mountain Pine Beetle epidemic, wildfires and reduced sawmill capacity in the province," said Kevin Edgson, President & CEO, Canfor Pulp. "We regret the impact of the downtime on our employees and are working to support them through this time."
Amid ongoing disruption to delivery schedules Royal Mail has brought forward a swathe of price increases originally slated for next year. The business is locked in a bitter industrial relations dispute with the Communication Workers Union that has resulted in strike action that began at the end of September, and is set to continue throughout October, November and December. Royal Mail had been due to put up prices from 3 January 2023. Instead, prices for advertising mail, business mail, publishing mail, partially addressed mail, poll card mailing, and response services will go up from 7 November.
As a former CEO of two advertising agencies, Bob Hoffman knows a thing or two about the advertising world. The US-based former adman has ruffled many feathers in his demolishing of many of the myths about online advertising, and he remains a thorn in the side of the industry. Hoffman’s blog, ‘The Ad Contrarian’, is in my view, required reading for anyone who cares about the future of the advertising industry, while his many books on the topic make for uncomfortable but necessary reading.
In accordance with the terms of his service contract, UPM’s President and CEO Jussi Pesonen has announced that he will exercise his right to retire from UPM during 2024. "In 2024 I will have served UPM as President and CEO for 20 years and spent a total of 37 years with the company. The announced timetable aims to secure the success of the strategic growth initiatives as well as business performance over the coming few years. However, it is also time to start planning for the next stage,” says Jussi Pesonen. The schedule also allows UPM’s Board of Directors sufficient time for implementing the succession planning process.
The Book Manufacturers’ Institute (BMI) released the October results for its monthly survey on capacity and lead times for soft cover and hard cover books. As the book manufacturing landscape has changed recently, BMI put together the survey to get a better idea of what manufacturers were facing and what publishers should expect. This month showed a little bit of a respite with manufacturing capacities and lead times. According to responses regarding hard cover books, the average manufacturer was running at 82% of their capacity, down from 91%. The average lead time for completed hard cover books went down to 62 days from 84 days, based on 19 responses. For soft cover books, capacity usage dropped to 83% from 91%. The average lead time dropped 45 days from 61 days, based on 23 responses.
Konica Minolta Business Solutions U.S.A., Inc. (Konica Minolta), a leader in industrial and commercial printing and packaging solutions, is pleased to announce the installation of its AccurioJet KM-1 LED UV Inkjet Press at More Than Ink, celebrating 17 years as a family-owned and operated business providing quality printing to the North Florida market. More Than Ink is an eco-friendly print shop focused on digital printing which includes booklets, catalogs, envelopes, pads, brochures and folders. It offers direct and bulk mailing and design services as well as a large format department for signs, storefronts and trade show items. More Than Ink has used Konica Minolta presses for ten years, most recently purchasing the AccurioPress C6100 Digital Printing Color Press in 2020 and the bizhub PRESS C1085 Digital Printing Press in 2018.
Governor Laura Kelly joined officials from Pratt Industries as they opened their new state-of-the-art advanced manufacturing corrugated box plant in Park City. The plant represents a $200 million investment that will create 58 new high-paying, quality jobs in Sedgwick County over the next five years. The almost 1 million-square-foot Park City facility will accommodate increased production capacity, employ 300 full-time “green collar” manufacturing jobs, and increase its presence in the greater Wichita area. The company will continue its recycling operations at the existing Wichita facility and use the new plant for manufacturing operations.
Halloween is just around the corner, marking for many in the United States the start of a busy holiday season. And the one holiday on every retailer's mind is, of course, Christmas. Christmas spending is an annual opportunity to increase sales and create new customers for your business. As we know, custom packaging is an effective way to achieve brand-loyal customers during this key time period. Custom holiday packaging require businesses to plan ahead during the first half of the year. It’s been a busy year for everyone in retail and, now that fall is already here, ordering custom packaging for the upcoming season might not be possible due to the reality of lead times. Think that means it’s too late to incorporate special holiday packaging for the 2022 season? Think again. Seaman Paper has your business covered with 12 in-stock and ready-to-ship holiday tissue paper designs.
News Corporation announced that the Company’s Board of Directors, following the receipt of letters from K. Rupert Murdoch and the Murdoch Family Trust, has formed a Special Committee composed of independent and disinterested members of the Board to begin exploring a potential combination with Fox Corporation. The Special Committee, consistent with its fiduciary duties and in consultation with its independent financial and legal advisors, will thoroughly evaluate a potential combination with Fox. The Special Committee has not made any determination with respect to any such potential combination at this time, and there can be no certainty that the Company will engage in such a transaction.
How2Recycle has been the gold standard of on-product labeling for recyclability since 2008. Sonoco Alloyd has been pre-qualified to carry the How2Recycle label on the EnviroSense® PaperBlister™ package. The PaperBlister has been embraced by manufacturers, customers and consumers since its debut in 2019. The product has won multiple awards in recent years for smart design and innovative, sustainable features. The How2Recycle pre-qualification is the latest sustainable achievement for the PaperBlister™ and will allow Sonoco to continue helping brands meet their sustainability goals and expand on products’ curbside recyclability. The PaperBlister package is all paper, plastic-free, made entirely from renewable resources and can be fully recycled into the paper stream unlike traditional plastic blisters. How2Recycle labels help customers and consumers understand the difference in lookalike packaging, as well as what can be recycled, and how.
Amcor released its first Task Force on Climate-Related Financial Disclosure (TCFD) report, which includes the results of Amcor’s climate scenario analysis exercise, along with information about the company’s climate governance structure, risk management approach and performance metrics. As a leader in sustainability, the report marks another milestone for the organization, ensuring continued transparency of its climate-related business risks as well as providing a roadmap on how to best integrate climate risk management opportunities within its operational strategy. Michael Casamento, Chief Financial Officer at Amcor, said, “The report represents the latest example of how Amcor has integrated climate-related considerations into its growth strategy and risk management framework. Adding TCFD standards to our sustainability-related reporting that already adheres to the Global Reporting Initiative (GRI), as well as leading the packaging industry by reporting against SASB standards, helps us continue to lead with transparent, forward-thinking environmental stewardship.”
WRAP, a climate action NGO based in the U.K., is organizing Recycle Week from October 17-23 to celebrate consumer recycling of everyday goods across the U.K. The annual event encourages retailers, brand owners, waste management companies, trade associations, governments and the media to come together to achieve a common goal: “to galvanize the public into recycling more of the right things, more often.” In 2021, the campaign achieved over 29 million digital impressions, with 82% of people commenting that they changed their behavior after seeing Recycle Week 2021 content. For 2022, the campaign’s theme is called ‘Let’s Get Real,’ and its objective is to debunk myths surrounding recycling, challenge perceptions and improve behavior.
Drytac is delighted to announce the global availability of its improved ViziPrint Impress Clear UVL film. ViziPrint Impress Clear UVL is an optically clear gloss PET printable film designed for trouble-free installation of graphics onto glass and other smooth, flat surfaces. It incorporates Drytac’s low tack hybrid adhesive technology, creating a strong bond in both high and low temperatures without leaving residue behind when removed. Drytac has now incorporated a new thinner face film, which makes the media easier to work with. Compatible with UV and Latex printing, ViziPrint Impress Clear UVL uses a mechanical bond to gently adhere images to surfaces and can be repositioned and reapplied multiple times. Drytac’s unique adhesion technology eliminates bubbling and ensures the product is unaffected by moisture.
The Print Industries Wage + Benefits Survey, which annually captures labor costs and human resource practices from nearly 500 print manufacturers and 15,000 employees across North America, is now available to members of Americas Printing Association Network (APAN,) an independent group of associations representing nearly 5,000 North American print manufacturers and their equipment and technology partners. “In today’s hyper-competitive labor market, access to up-to-date compensation trends are critical tools for those charged with managing a print workforce,” commented Teresa Campbell, program director and President of PIA MidAmerica. Sponsored by LB Carlson (lbcarlson.com), a financial and business management consulting firm, the Wage + Benefits 2022 Survey captures wages and benefits for nearly every industry position in sixteen different categories, all segmented by geographic region and company size.
FY2023 first quarter service performance scores covering October 1 through October 7 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 fourth quarter. *Marketing Mail: 95.4 percent of Marketing Mail delivered on time against the USPS service standard, an increase of .7 percentage points from the fiscal fourth quarter. *Periodicals: 88.1 percent of Periodicals delivered on time against the USPS service standard, an improvement of 1.1 percentage points from the fiscal fourth quarter.
Over the last several years, we’ve seen catalogs come and go. And we’ve seen many retailers jump into the game, spend a LOT of money (we’re talking tens of millions of dollars) and then abandon the model after a couple of seasons. This literally breaks my heart and makes me want to scream! Why does this happen? Here is my very quick opinion. These brands have a combination of the following: 1. A flawed merchandise concept that is not unique, delivered with out-of-date benefits or sent to an audience the brand knows nothing about. 2. Bad math that doesn’t take into account mail efficiencies, an understanding of their own database, mailing to bad names at the wrong time or how the catalog model fits into a cross-channel world. 3. A lack of understanding of how to create a landscape of words and imagery that truly sell off the page and drive activity to either a website or store. learn more at: https://www.jschmid.com/blog/5-reasons-catalogs-work/
Savvas Learning Company, a K-12 next-generation learning solutions leader, is proud to announce that its Savvas Realize learning management system (LMS) has received Tech & Learning’s 2022 Best Tools for Back to School Award. Savvas Realize, the publishing industry's most innovative LMS, was honored in both the primary and secondary education categories as an exceptional technology platform that supports educators heading back to school. The 2022 Best Tools for Back to School is a new category in Tech & Learning’s Awards of Excellence program, which recognizes innovation in the edtech industry. The new award celebrates technology solutions that offer schools versatility, compatibility, and value while supporting innovative, effective teaching and learning. In praising Savvas Realize, the judges commented that “a single place to sign on and access curriculum resources makes this platform extremely valuable. The collaboration pieces are a huge benefit to teachers. They love having all of their resources in one place for quick access.”
As FSC revises its Ecosystem Services Procedure, the World Wildlife Fund issued a new report called, “Paying Foresters to Provide Ecosystem Services.” Designed to support the FSC revision process, the report highlights opportunities to improve the procedure, such as: *Improving communications about ecosystem services to make the opportunities more understandable to sponsors. *Adapting audits to small-scale projects to make them more affordable. *Providing additional guidance about methodology. Driving value to forest managers through climate and ecosystem services is a priority for FSC in the United States and globally.
Aptar Food + Beverage, a global leader in dispensing solutions for more than 50 years, proudly announces Slide, a new approach that is set to revolutionize the dispensing closure market. This new offering is unique, because it does not require the application of a foil liner for shelf-stable food products, which is the market norm today. “We conducted multiple consumer studies while developing this solution, and in almost every case, we heard that removing the liner is a point of frustration today,” states Matt Schalewski, Senior Global Business Development Manager at Aptar. “Slide enables consumers to access their product with one opening gesture, delivering a convenient and memorable packaging experience while still protecting product shelf life and reducing the potential for product tampering.”
Smurfit Kappa, world leader in paper-based packaging, is investing almost USD100 million in a sustainable biomass boiler which will reduce its global Scope 1 and Scope 2 CO2 emissions by approximately 6%. The ambitious project is the latest example of the circularity that permeates every aspect of the company’s operations. Smurfit Kappa has successfully implemented biomass boilers at several other locations including the Nervion, Piteå and Sangüesa paper mills in Europe.
BillerudKorsnäs is simplifying its name to Billerud to cater to its international customers. As a leading supplier of virgin fiber-based paper and packaging materials, the name change is fully in line with the company’s strategy to expand into North America and continue driving sustainable growth in global markets. It is simply easier to say Billerud. ”We are now ready to meet the challenges of the future as one company: Billerud. One year ago, a clear strategic plan was drawn up with the aim of achieving profitable and sustainable sales growth until the year 2030 and to grow in North America. Today we change name to Billerud. The name change is a natural step on our strategic journey”, says Christoph Michalski, President and CEO at Billerud.
Underlying EBITDA from continuing operations (Group excluding the Russian operations) for the third quarter was €450 million, up 55% compared to the prior year period (Q3 2021: €290 million). Higher average selling prices and overall volume growth more than offset significant cost pressures. Corrugated Packaging benefitted from higher average selling prices compared to the prior year period, leveraging our innovative product portfolio and strong customer proposition. Corrugated Solutions box volumes were lower in the quarter driven by generally softer demand when compared with the strong volume growth delivered in the prior year. Flexible Packaging performed well, with resilient demand during the period. Price increases across our range of kraft papers and packaging products were implemented during the quarter, where not fixed by annual or semi-annual contracts. Uncoated Fine Paper achieved higher average selling prices and grew pulp volumes in the quarter while uncoated fine paper volumes were lower. The non-cash forestry fair value gain was higher.
National Average Price for Regular Unleaded Current: $3.903; Month Ago: $3.703; Year Ago: $3.297. National Average Price for Diesel Current: $5.215; Month Ago: $4.995; Year Ago: $3.508.
American Dollar to Canadian Dollar = 0.723793; American Dollar to Chinese Yuan = 0.138926; American Dollar to Euro = 0.971826; American Dollar to Japanese Yen = 0.006766; American Dollar to Mexican Peso = 0.049825.
In a move to further modernize and advance its data-focused operations, a360media, the media arm of accelerate360, has named Darwin CX its partner for subscription management and fulfillment services, effective July 2023. The Darwin CX platform is designed to supercharge subscriber acquisition, retention, and loyalty by offering a single customer service profile across media brands with one, consolidated subscriber management tool.
The United States Postal Service filed notice with the Postal Regulatory Commission (PRC) of price changes to take effect Jan. 22, 2023. The new rates include a three-cent increase in the price of a First-Class Mail Forever stamp from 60 cents to 63 cents. If favorably reviewed by the Commission, the proposed increases will raise First-Class Mail prices approximately 4.2 percent to offset the rise in inflation. The price changes have been approved by the Governors of the U.S. Postal Service. The price for 1-ounce metered mail will increase to 60 cents, and the price to send a domestic postcard will increase to 48 cents. A 1-ounce letter mailed to another country would increase to $1.45. There will be no change to the single-piece letter and flat additional-ounce price, which remains at 24 cents. The Postal Service is also seeking price adjustments for Special Services products including Certified Mail, Post Office Box rental fees, money order fees and the cost to purchase insurance when mailing an item.
Barnes & Noble is proud to present its Best Books of 2022 list, comprised of ten titles hand-selected by the bookseller showcasing the most stunning, provoking and impactful new releases of the year. “Readers of every genre will have a book to dive into on our Best Books of 2022 list,” said Jackie De Leo, Chief Merchandising Officer, Barnes & Noble. “There is an extraordinary amount of talent here, ranging from standout debut authors to Pulitzer Prize winners, all of whom have made a lasting impression on our booksellers. We can’t wait to read where they will take us next.”
Learning technology company HMH today announced that the company’s supplemental and intervention solutions were fully reviewed and approved by Chicago Public Schools for usage across the district. These HMH digital tools comply with the Student Online Personal Protection Act (SOPPA), the student data privacy law that regulates students' covered information by schools, the Illinois State Board of Education, and education technology vendors. Through the SOPPA approval process, HMH entered into an agreement with Chicago Public Schools to provide additional guarantees that student data is protected when collected by the company and that the data is used for beneficial purposes only. Protecting student data and therefore the students themselves is of vital importance to HMH. https://www.hmhco.com/about-us/press-releases/chicago-public-schools-approve-hmh-digital-tools-as-student-data-privacy-compliant
Sonoco ThermoSafe one of the largest global providers of temperature assurance cold chain packaging, is expanding its Orion Rental packaging program in Europe, adding an additional reclamation service station in Brussels. The new Orion reclamation station is at CEVA Logistics in Brussels, chosen as an ideal location for its proximity to existing biopharma customers, prospects, and other western European countries. CEVA Logistics is a well-established logistics partner to 500+ healthcare and life science companies, fully compliant to GxP and ISO standards. The BRU Orion Rental Station will perform full reclamation, cleaning, and refurbishment processes necessary to return Orion boxes back into circulation in ‘like new’ quality condition, suitable for healthcare products.
The Norwegian National Budget for 2023 proposes a reduction of the CO2 compensation to Norwegian industry of approximately NOK 2.7 billion annually. Norske Skog expects a reduction in the CO2 compensation payment to be received from 2023 and onwards of approximately NOK 140 million annually. Yesterday, 6 October 2022, the Norwegian government presented its National Budget proposal for 2023. The budget proposes to reduce the CO2 compensation to Norwegian industry. The CO2 compensation is an EU initiative, which can be implemented at the discretion of each individual member country, designed to mitigate the impact of high CO2 allowance (EUA) prices on electricity costs. The overall ambition is to avoid transfer of energy intensive industries to countries with less strict climate policies outside the EU, this has been termed Carbon Leakage.
Billerud Americas Corporation, a leading producer of pressure sensitive (PS) face paper and release liner in North America, announced it will investigate a relaunch of its OptiLabel™ HB product made at its Quinnesec Mill on the No. 41 paper machine. "We launched OptiLabel™ HB made at our Quinnesec Mill in 2020 during the peak of the COVID pandemic to support demand in the PS marketplace, so, we have already successfully made a significant volume of this product," said Senior Vice President of Marketing Aaron Haas. "By making OptiLabel™ HB at Quinnesec, we hope to provide an additional domestic supply source for PS paper. We already make a great deal of OptiLabel™ HB and UniSil™ release liner on our No. 3 paper machine at our Escanaba Mill, and this additional machine will give us more manufacturing flexibility to support the PS marketplace for both release liner and face paper supply."
Sylvamo is announcing it reached an agreement and completed the sale of its Russian operations to Pulp Invest Limited Liability Company for $420 million. After foreign currency exchange rates and transaction fees, Sylvamo received approximately $390 million in cash proceeds. "We made a principle-based decision to exit Russia and believe Pulp Invest is the best option for our Russian colleagues and assets," said Jean-Michel Ribiéras, chairman and chief executive officer. "We intend to use $325 million of the proceeds to repay debt."
Paper Excellence announced the indefinite curtailment of its paper operations at the Catalyst Crofton facility starting in early December 2022. Paper markets in China served by the mill have significantly weakened while there have been substantial cost escalations for chemicals, energy and wood fibre used at Crofton. The intersection of these pressures has materially impacted the financial viability of the paper operation. We expect to operate Crofton’s paper machines for 60 days following this announcement. We will be working closely with both unions as this decision affects about 80 Unifor employees and 70 PPWC employees. We recognize the hardship this will have on both our employees and the Cowichan Valley. We hope to minimize these impacts through union discussions that will consider secondments, utilization of earned time off and employment insurance. The mill’s pulp operations will continue production during the paper curtailment. Paper Excellence is working with both Provincial and Federal Governments while it conducts studies at the Crofton facility to consider accelerating its conversion into natural food and packaging grades.
At a time when greenwashing is emerging as an important issue on Madison Avenue, the Institute for Advertising Ethics (IAE) is planning two industry events to discuss, educate and develop guidelines to help advertisers, agencies, PR and lobbying firms to build awareness and prevent it. The events follow a week of Congressional hearings about the practices of big and independent agencies and PR firms paid by fossil-fuel companies to distort what they are actually doing to about the climate crisis, as well as the release of a Congressional report citing examples by divisions of big agency holding companies, including Interpublic’s UM unit’s work for ExxonMobil. This also follows Interpublic’s decision to revise its policy of accepting new business from fossil fuel companies that don’t meet its own climate and ethical standards.
FY2022 fourth quarter service performance scores covering July 1 through September 30 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: 94.8 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Periodicals: 86.9 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter.
Sonoco announced that the new uncoated recycled paperboard (URB) #10 machine is operational as part of its previously announced Project Horizon—the $125 million investment to transform its former corrugated medium machine in Hartsville, S.C to a state-of-the-art URB operation. Project Horizon was initiated, in part, to ensure the long-term viability and sustainability of Sonoco’s 100-year-old Hartsville Mill Complex, at which the Company produces almost one-third of its U.S. and Canadian URB. The introduction of the new operation is projected to drive $30 million in annual cost savings by 2024 and will ensure the mill remains globally competitive. This launch also marks Sonoco’s move to 100% recycled fibers in the Hartsville Mill Complex, which eliminated the manufacturing complex’s virgin pulp processing and chemical recovery operation.
Pregis® recently introduced the Performance Flexibles Renew™ Series as the company continues to innovate and expand its sustainable offerings. Pregis has offered a wide range of Renew solutions for the inside-the-box packaging category, and this brand of solutions represents the most sustainable option within resin-based packaging alternatives as the brand continues to expand across product lines. The newest addition to the Pregis Renew Series is designed specifically for critical flexible packaging applications, including food, pharmaceutical, medical, and household consumer goods, incorporating innovative materials and recycled content that is custom engineered to the client’s specification. Engineered with a focus on three critical components of sustainability – recyclable, recycled content, and renewable – the Renew Series meets the growing demand for flexible packaging products that enable a circular economy.
Costco Wholesale Corporation reported net sales of $21.46 billion for the retail month of September, the five weeks ended October 2, 2022, an increase of 10.1 percent from $19.50 billion last year.
One-step sounds simple and easy. Two-step sounds a little more sophisticated and intricate. When it comes to selecting the right print vinyl media for your floor graphic, there’s actually quite a bit more to consider when choosing the product that will best help you create a graphic that dazzles the eye and provides the best value for you or your customer. The challenge is knowing the right questions to ask in order to select the vinyl print media that will help you create a superior floor graphic. Regardless of whether your challenge is easy application and removal or the widest variety of application surfaces, there is an ideal tool for this job — and Nekoosa has the right vinyl print media to help you get the job done. Let’s look at a couple of the most common questions about one-step and two-step vinyl print media to help you understand which is the best choice for your floor graphic.
Stora Enso’s new production site for cross-laminated timber (CLT) in Ždírec, the Czech Republic, was inaugurated today. Following a EUR 79 million investment, the new CLT site is one of the most modern in the world, supporting Stora Enso’s strategy of growth within wooden building solutions. With the new site, Stora Enso’s CLT production capacity will grow substantially to meet the increasing demand for sustainable, cost-effective and renewable building materials. The project proceeded according to plan from the investment decision made in September 2020 to the start of production in the third quarter of 2022, when the first panel was manufactured. CLT represents a modern and sustainable building material that allows construction with great precision and speed. The estimated annual production capacity will be approximately 120,000 m³ after ramp-up.
National Average Price for Regular Unleaded Current: $3.891; Month Ago: $3.764; Year Ago: $3.244. National Average Price for Diesel Current: $4.916; Month Ago: $5.050; Year Ago: $3.415.
American Dollar to Canadian Dollar = 0.728561; American Dollar to Chinese Yuan = 0.140517; American Dollar to Euro = 0.980024; American Dollar to Japanese Yen = 0.006899; American Dollar to Mexican Peso = 0.049868.
WestRock Company announced it will permanently close the corrugated medium manufacturing operations at its St. Paul, Minnesota, recycled paper mill. The production of coated recycled board at this location will remain in operation. WestRock is committed to improving its return on invested capital as well as maximizing the performance of its assets, and the corrugated medium machinery at the St. Paul location would require significant capital investment to maintain and improve going forward. The shutdown of these assets will result in the reduction of 200,000 tons of annual corrugated medium production. “Shutting down operations and impacting the lives of our employees is a difficult decision to make,” said David B. Sewell, chief executive officer at WestRock. “As we implement our plans to close the corrugated medium operations in St. Paul, we are incredibly appreciative for the many contributions this team has made. We plan to assist these team members in exploring roles at other WestRock locations and with outplacement services.”
This month marks a new milestone for paper production for Willamette Falls Paper Company (WFPC). On October 1, WFPC expanded its capacity on a third paper machine to manufacture additional coated freesheet paper. Previously only running at 50% capacity, this paper machine is now operating at 100% capacity to meet customer demand. This has increased our ability to produce additional tons of 60# and 70# text, as well as a new higher yield 75# Sonoma® coated grade.
At Pratt Industries, we take a holistic approach with our customers to look beyond basic packaging needs to develop vertically integrated, sustainable solutions to help protect, transport and drive sales for our customers’ products. To do this, we employ an extensive network of highly skilled experts who apply the knowledge they’ve gained from various industries to utilize best practices, reduce operational costs and improve efficiencies. Below are a few examples of how Pratt was able to assist our customers in creating beyond the box solutions for their organizations. Partnering with our Value Improvement Program (VIP) team, a customer was able to reduce costs across its operations, including material, pallets, warehouse and freight. Pratt experts partnered with the customer to evaluate packaging, shipping and storage requirements for nearly 200 items. The Pratt team then performed tests to understand how changing containerboard grades, packaging dimensions and pallet configuration affected the items and overall supply chain costs. Based on these studies, Pratt recommended using less corrugated material more efficiently and optimizing the balance of case stacking on pallets. The result was more cases per pallet layer and a reduction in truckloads to create substantial savings in material, warehousing and freight.
Pregis®, a leading global manufacturer of flexible packaging and protective packaging solutions, today announced it is expanding its senior leadership roles, with Kevin Baudhuin adding the title of chairman in addition to his chief executive officer role, and Laurin Darnell promoted to chief operating officer. These leadership changes will allow Pregis to continue driving long-term growth while maintaining continuity as it builds upon recent successes. Baudhuin will intensify his focus on strategic growth, M&A, and advancing the company’s ESG efforts. Darnell assumes responsibility for day-to-day business operations, leading the company’s global operations and maintaining its growth trajectory to double in size in the next few years.
Smurfit Kappa has won 21 awards for its forward-thinking and innovative packaging solutions at this year’s Flexographic Industry Association (FIA) UK awards. Since 2013, Smurfit Kappa has received over 130 FIA awards, consolidating its industry-leading position in the packaging industry. Smurfit Kappa’s sustainable packaging solutions received three gold, seven silver, seven bronze and three Highly Commended awards. Their Markham Vale site’s DRO - Operator Vince Ward also took home the highly coveted Student of the Year award, and the site themselves won the Silver award for the Best in Show category.
The Sustainable Green Printing Partnership (SGP), the leading certification authority in sustainable printing, announced today that Hatteras, Tinton Falls, NJ, has become the most recent facility to attain SGP certification. “Sustainability is very important to us as a company. We’re making every effort to be environmentally responsible and we’re also seeing more of our clients ask us about our sustainability initiatives,” said Bill Duerr, president, Hatteras. “Achieving SGP certification demonstrates to them that we’re following industry best practices and taking a leadership role in helping to protect the environment through green printing practices.”
Why do you think so many digitally native brands are suddenly discovering print? Print is still the best ‘proactive’ method of getting your message in front of people. Studies show it’s far more memorable than a digital message read on a screen – people remember things far better when they’ve held it in their hands – there’s something special about it. But you don’t have to choose between digital or print – when used together, they drive people to your website, to your retail store, and help drive better response. Watch the video at: https://www.jschmid.com/blog/catalog-is-a-digital-champion/
A study released by R.R. Donnelley & Sons Company reveals marketer perceptions of macro trends impacting today’s consumers, which in turn influences the approach to reach them. The Macro Marketing Reportshowed primary concerns include shifting of buying power to new generations (89%), ESG-related concerns (84%), a changing political climate (80%), and workforce changes (78%). The company’s third annual marketing industry report found that while marketers are embracing new channels, such as the metaverse, they are also looking for innovative ways to leverage more traditional approaches. Marketers are turning to direct mail to engage with today’s digitally fatigued consumers, with nearly three-quarters (73%) reporting direct mail has either kept the same level of importance or increased in the last year.
The current market environment is characterised by very high production costs, in particular energy costs, and weaker demand primarily due to destocking in the value chain. Therefore, Lecta has decided to take temporary downtime at several of its paper mills. Downtime will be scheduled in such a way that high service levels for customers will be maintained. The company remains confident in its financial outlook for Q4.
Specialty outdoor retailer REI Co-op today announced its Opt Outside movement will be permanent for all employees. For this Black Friday, and every Black Friday in the future, the co-op will forgo profits and sales at all locations, and instead pay its more than 16,000 employees to enjoy time outside. Since 2015, REI has closed its doors on Black Friday—inviting employees and members to spend time outside rather than shopping. Over the years, Opt Outside has evolved from a response against consumerism to a movement that has advocated for causes important to the co-op, including environmental welfare, inclusivity in the outdoor industry and responsible recreation. This year will mark the shift of Opt Outside to an ongoing, permanent, employee benefit.
Barnes & Noble is thrilled to announce their partnership with Reading Is Fundamental (RIF) for their second annual Rally to Read 100 campaign. The six-month initiative invites students nationwide to pledge to read 100 books over the course of the campaign, from October 1, 2022 to March 31, 2023. As an Inspiration Partner of Rally to Read 100, Barnes & Noble will contribute to many aspects of the campaign. The bookseller is to contribute 10,000 books in donations of 100 books to 100 classrooms across the country. It contributes to the launch kits distributed to 1,000 classrooms, supports Storytime read-alouds with many best-selling authors and will host the culmination event at the bookseller’s flagship store in Union Square, NYC, on Read Across America Day, March 2, 2023.
Stakeholders from around the world are invited to give feedback on the revised Belgian Forest Certification System. Deadline for comments is 1 December. Give your feedback. 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. The Belgian system was submitted to PEFC after being revised in line with PEFC requirements. The national system is now undergoing the PEFC assessment process, carried out by an independent PEFC Registered Assessor. It must pass this assessment to maintain its PEFC endorsement.
The latest consumer poll results by Every Can Counts (ECC) highlight that a truly sustainable future will require close collaboration between governments and beverage brands. The Recycling Habits and Attitude in Europe 2022 survey explores current recycling habits, identifies barriers and motivations to increase recycling, assesses knowledge around the recycling of aluminum beverage cans and uncovers messages that connect with European consumers. The message is clear: Recycling in Europe is not living up to its potential. Consumers need help from governments, brands, retailers and the packaging industry to do better. The top three initiatives consumers would like to see implemented to increase recycling rates are: using only 100% recyclable packaging (53%); more recycling in public areas (52%); and a deposit return program (50%).
Pixelle Specialty Solutions LLC has announced plans to restart a paper machine in the Chillicothe, Ohio facility. The company is investing $21 million to upgrade and restart the #24 paper machine (PM24) and plans to hire 52 full-time employees to operate and maintain it. “The current supply-demand balance in the market and our Ohio facility’s competitive, integrated cost structure has afforded us the opportunity to restart paper machine #24 (PM24) at the Chillicothe mill. This rebuilt machine will add 75,000 tons per year of capacity to serve our customers in the food packaging, commercial inkjet and other specialty paper segments. These are growing attractive markets where Pixelle has leading positions,” said Timothy R. Hess, Pixelle’s President and CEO. Several upgrades in the current rebuild will enable Pixelle to produce an attractive product mix for its customers. Pixelle expects the machine to be fully online shipping quality specialty papers in early first quarter 2023.
UPM inaugurates today its new pulp terminal in the port of Montevideo, Uruguay. This investment of approximately USD 280 million is a fundamental part of UPM’s USD 3.47 billion growth investment in Uruguay that includes a state-of-the-art pulp mill in Paso de los Toros, new eucalyptus tree nursery as well as local community investments in Paso de los Toros. “This is a significant milestone in our growth project in Uruguay. The new pulp terminal with direct connections from the new pulp mill and to the global markets plays a key role in the growth and competitiveness of UPM’s pulp business,” says UPM President and CEO Jussi Pesonen. “The public infrastructure investments to the deep sea port and railway improve the competitiveness of all export sectors in Uruguay.”
Huhtamaki launches ICON® packaging, a breakthrough paper technology, initially for use for ice cream containers and lids, which enables recycling in communities with paper product recycling programs across the United States. This is a significant breakthrough in delivering a sustainable solution for consumers which combines Huhtamaki’s proprietary water-based barrier coating with SFI-certified paperboard and results in the entire package being made with 95% renewable biobased material. This enables the ice cream containers and lids to be recycled along with other paper products such as folded carton packaging. “Our paper-based technology and barrier solutions are the key differentiators in ICON® ice cream packaging. The technology allows ice cream packaging to enter the existing North American recycling stream more easily. At Huhtamaki we are driven by innovation and operational excellence, designing for circularity and developing next generation innovation. ICON® packaging has been developed by Huhtamaki’s Technology and Development (T&D) and operational team as an alternative packaging solution for ice cream. Our teams use their expertise in barrier functionality, paper forming and printing to drive differentiation and deliver game-changing sustainable food packaging to our customers,” explains Ann O’Hara, President of Huhtamaki North America.
From The Mountains to Raised Southern, from Feel Free to RV Today and I Love RVing, from Western Life Today to EV Builder’s Guide the field of magazines (keep in mind my definition of magazines: ink on paper) gained 22 titles on the nation’s marketplace including the return of some favorites that took a break from print or life for some time. Creem, the original rock and roll magazine, made a great comeback (only by subscription) and so did Mad and Marie Claire. So far 2022 has witnessed the launch of 62 titles compared to 81 for the same period of 2021. In the first quarter of 2022 28 titles were launched. In the second quarter the number dropped to 12. The third quarter saw 22 titles introduced.
Stakeholders from around the world are invited to give feedback on the revised Belgian Forest Certification System. Deadline for comments is 1 December. Give your feedback. 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. The Belgian system was submitted to PEFC after being revised in line with PEFC requirements. The national system is now undergoing the PEFC assessment process, carried out by an independent PEFC Registered Assessor. It must pass this assessment to maintain its PEFC endorsement.
Carlisle Container Company, a corrugated packaging converter founded in 1965, will significantly decrease turnaround times and boost efficiency with the acquisition of an EFI™ Nozomi 14000 LED single-pass inkjet corrugated packaging press from Electronics For Imaging, Inc. The business will install the new press in a facility adjacent to its main plant scheduled to open in early 2023. The Nozomi 14000 LED press is an important next step toward growth for a packaging company that has long appreciated the impact digital can have. “We implemented digital printing in the early days, acquiring our first VUTEk® printer in 2004,” said Carlisle Container CEO Diane Wolf. “Back then, we could print eight to ten 4x8-foot sheets per hour, and over time we updated technology to continue increasing throughput and quality. The Nozomi was the next logical move for us, and it will be a game changer.”
Nahan, a full-service, direct marketing and print solutions provider, announced today it has won the Digital Printing/ Direct Marketing Best in Category Award at the PRINTING United Alliance Premier PRINT Awards for the South Dakota Department of Tourism “Your Guide to Great Finds” campaign. The mini-catalog campaign was created in collaboration with client Lawrence & Schiller to promote South Dakota’s unique travel destinations. “We’re honored that our collaboration with the South Dakota Department of Tourism and Lawrence & Schiller has been recognized by Printing United Alliance this year. It demonstrates the agility of the Nahan print platform and our ability to produce highly unique, and personalized print pieces,” said John Klumb, VP, Sales.
Paper Excellence announced that the company’s Prince Albert Pulp Inc mill restart project has submitted its environmental impact statement (EIS) to the Saskatchewan Ministry of Environment. The EIS is a critical part of the environmental permitting process and marks another significant step in the process towards restarting the dormant pulp mill, which has been down since 2006. “Submitting our environmental impact statement is a critical step forward for the project,” said Carlo Dal Monte, Project Operations Director for the Prince Albert Pulp Inc. restart. “We look forward to the Ministry of Environment’s thorough and timely review of our EIS.” Paper Excellence recently commissioned public opinion polling that showed 93 percent of Saskatchewan residents support the restart of the pulp mill.
International technology group ANDRITZ has received an order from Bracell SP Celulose Ltda. to supply four PrimeLineTM W 2000 tissue production lines to its mill located in Lençóis Paulista, São Paulo. Start-up is scheduled for 2024. The four tissue machines are of the type PrimeLineTM W 2000, with a design speed of 2,100 m/min and a working width of 5.68 m. They are equipped with fully cantilevered shoe presses for gentle dewatering and easy maintenance and 18 ft. steel Yankees with steam-heated hoods for energy-efficient drying. The new tissue mill will be self-sufficient in steam and electricity consumption for the drying process, making it one of the tissue mills with the smallest CO2 footprint in the world.
Mondi, a global leader in packaging and paper, has developed a recyclable high-barrier packaging solution for Norwegian pet food manufacturer Felleskjøpet, that keeps material in circulation and avoids waste. Felleskjøpet is using Mondi’s FlexiBag Recyclable, a pre-made mono-material polyethylene (PE) bag, for the relaunch of its Appetitt range of dry cat and dog foods. It will replace the previous unrecyclable multi-layer solution, delivering packaging that is designed for recycling, according to CEFLEX D4ACE guidelines, and is recyclable in existing Norwegian plastic recycling streams. Mondi’s FlexiBag Recyclable provides excellent product protection and preserves the premium pet food, thanks to its high barrier material. A slider enables easy opening and closing for the bigger bags to ensure long-lasting freshness, while a handle allows for convenient transportation. FlexiBag Recyclable has excellent print qualities that guarantee good visibility on-shelf and can communicate all product and recycling information clearly.
UPM's commitment to wind power in Finland will significantly decrease emissions resulting from UPM’s paper production. The new wind park in Pyhäjoki is expected to reach full capacity in generating climate-friendly power in early 2023, providing a long-term renewable energy solution for UPM’s Finnish paper mills. In 2019, UPM signed a Wind Power Purchase agreement (PPA) with German renewable energy development company wpd. This contract enabled the construction of a new onshore wind park in Pyhäjoki, Finland, which is now in its final stages of development; the park is starting operations in the autumn 2022. It will reach full capacity in generating sustainable power in January 2023 and will continue to do so for 25-30 years.
FY2022 fourth quarter service performance scores covering July 1 through Sept. 23 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: 94.7 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Periodicals: 86.8 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter.
Gold Mountain California News Media has acquired several local newspapers from Brehm Communications. They include the Hi-Desert Star, Desert Trail, Desert Mobile Home News, Big Bear Grizzly and Lake Arrowhead Mountain-News, according to Hi-Desert Star. The Yucca Valley printing facility is also included. News Media is also purchasing six BCI newspapers published in the Sacramento area: the Auburn Journal, Folsom Telegraph, Roseville Press-Tribune, Placer Herald, The Loomis News and Lincoln News Messenger.
The American Trucking Associations thanked the U.S. Department of Transportation for its commitment to expanding the nation’s truck parking capacity. In a letter to ATA President and CEO Chris Spear, U.S. Transportation Secretary Pete Buttigieg pledged the Administration’s support for increasing the availability of safe parking options for America’s professional truck drivers through its Trucking Action Plan, grant funding under the Bipartisan Infrastructure Law, and increased coordination with state departments of transportation and the trucking industry.
The Mayr-Melnhof Group has successfully completed the acquisition of Essentra Packaging, which was agreed in June 2022, following the approval of all relevant competition authorities. The transaction includes 100% interest in ESNT Packaging & Securing Solutions Limited (UK) and 100% interest in Essentra Packaging US Inc (US) and its affiliated companies. With this acquisition, MM Packaging is expanding its range of folding boxes, package inserts and labels for the resilient and profitable healthcare & pharmaceutical market, creating an attractive platform for further growth. Essentra Packaging comprises 21 manufacturing sites in 10 countries across Europe, the US mainland and Puerto Rico, ideally complementing MM Packaging's current position in pharmaceutical packaging in Scandinavia and France. Essentra Packaging employs around 3,500 people and reported sales of around £370m (currently around EUR 410m) for 2021.
The new state-of-the-art pine sawmill in Rauma in Finland, owned by Metsä Fibre, part of Metsä Group, has moved from production test run to continuous sawn timber production. The sawmill is operating continuously in three shifts. “The Rauma sawmill implements Metsä Group’s strategic goals of increasing the value of Finnish forests, growing profitably with our customers, enabling fossil free production and increasing the production of products that store carbon for a long time. The role of the mechanical forest industry is very important for our whole value chain, and I’m happy that new ways to significantly improve performance have been found also there,” says Ilkka Hämälä, President and CEO of Metsä Group.
Tecnau builds on its expertise in online cutting and stacking for sheet-fed print with the introduction of BookReady, offering the converting of SRA3+ (~13” x 19”) sheet sizes printed in 2up and 4up into final size book blocks such as A4 and A5 (letter and 5.5” x 8.5”) ready for nearline perfect binding. BookReady changes applications on-the-fly without any manual intervention at full printing speed, enabling book printers to manage short runs and book on demand with exact page separation and no guillotine processing. The new cut-sheet finishing solution may be equipped with an automatic 90-degree turning station to rotate 2-up imposed sheets from long-edge leading to short-edge leading, so that printer speed is maximized and book of one is made possible.
Sun Chemical will increase prices effective immediately across its entire portfolio of packaging, commercial sheetfed, and screen inks, coatings, consumables, and adhesives in Europe, Middle East and Africa, effective October 1, 2022. The current geopolitical situation in Europe continues to upset the unprecedented inflationary trends further, with severe impact onto operating costs—including utilities and labour costs—through the entire supply chain. Sun Chemical continues to strive to find ways of mitigating these costs, but the magnitude and speed of cost increases requires the company to further increase prices. “Sun Chemical’s priority has been to keep supplying our customers, allowing them to keep their facilities operating,” said Mehran Yazdani, President, Global Packaging and Advanced Materials. “Sun Chemical’s global reach has helped secure the sourcing of raw materials and maintain production, however, the costs to secure those materials, manufacture our products, and deliver them to our customers have continued escalating to a level that requires us to raise further prices and surcharges effective immediately for all products. This will ensure we can continue a steady flow of our quality products to customers. Without signs of stabilisation so far, the situation will need to be adjusted as it goes, and no price guarantee can therefore be given for any period.”
Interfor Corporation announced that it has reached an agreement with an affiliate of the Kilmer Group to acquire 100% of the equity interests in the entities comprising Chaleur Forest Products. Chaleur owns two modern and well-capitalized sawmill operations located in Belledune and Bathurst, New Brunswick, with a combined annual lumber production capacity of 350 million board feet. Chaleur also operates a woodlands management division based out of Miramichi that manages approximately 30% of the total Crown forest in New Brunswick. This division provides a secure source of fibre supply for the sawmill operations as well as a stable, long-term stream of cash flow from third-party log sales, licence management fees and silviculture activities.
Further to an announcement made in July 2022, Mondi confirms that all conditions have been satisfied and the merger of Mondi Tire Kutsan Kağıt ve Ambalaj Sanayi a.ş. and Mondi Olmuksan Kağıt ve Ambalaj Sanayi Anonim Şirketi will come into effect from 30 September 2022. Mondi currently holds 84.65% of the shares of Mondi Turkey Oluklu Mukavva Kağıt ve Ambalaj Sanayi A.Ş. . The new entity Mondi Turkey Oluklu Mukavva Kağıt ve Ambalaj Sanayi A.Ş., is part of Mondi’s Corrugated Packaging business unit. Mondi Turkey Oluklu Mukavva Kağıt ve Ambalaj Sanayi A.Ş. operates a network of nine corrugated solutions plants across the country, a containerboard mill in Tire and a waste paper collection facility in Adana. Mondi Turkey Oluklu Mukavva Kağıt ve Ambalaj Sanayi A.Ş. employs more than 1,600 people and has a listing on the Istanbul Stock Exchange (BIST).
Solenis and Kolb Distribution Ltd. have announced that Solenis has entered into a definitive agreement to acquire the latter’s paper process chemicals business. The deal includes a long-term supply agreement, in which the KLK Kolb Group will manufacture paper process chemicals exclusively for Solenis. KLK Kolb Group offers a broad portfolio of paper process chemicals, including deposit control, cleaning and foam control agents primarily for the EMEA pulp and paper markets. Its wide range of manufacturing process technologies, including alkoxylation, esterification and dispersion, enables KLK Kolb Group to offer a broad range of products, as well as offer customized solutions for its customers.