Total Packaging Papers shipments were up 12.3 percent compared to April 2017, but down 1.0 percent year-to-date. Bag & Sack shipments were flat year-to-date. Multiwall shipments were down 6.7 percent, Converting shipments were down 0.4 percent and Food Wrapping shipments were up 3.1 percent. The operating rate for April increased slightly to 92.9 percent from 92.7 percent in March. Inventories were down 0.8 percent since March.
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Fourth Quarter 2017 Highlights: • Earned $0.76 per diluted share and $0.87 of adjusted earnings per diluted share. Our effective tax rate was 20.7%, and our adjusted tax rate was 28.4% • Generated net cash provided by operating activities of $494 million and adjusted free cash flow of $271 million • Achieved $80 million in year-over-year productivity and a run rate of $840 million of synergy and performance improvements since the merger. Full Year 2017 and Other Highlights: • Earned $2.77 per diluted share and $2.62 of adjusted earnings per diluted share • Generated net cash provided by operating activities of $1.90 billion ad adjusted free cash flow of $1.22 billion • Achieved $361 million of productivity year-over-year • Continued our portfolio transformation by: • Completing five acquisitions, including the acquisition of Multi Packaging Solutions International Limited (“MPS”). These acquisitions: º Advanced our strategy to provide differentiated, high value-added solutions to our customers and expanded our presence in attractive end markets º Created opportunities for meaningful synergies and performance improvements, and º Increased our vertical integration levels • Selling the Home, Health and Beauty business (“HH&B”) in April 2017. This sale resulted in a pre-tax gain of $193 million and generated net after-tax proceeds of approximately $1 billion. Click Read More below for additional information.
First Quarter Overview: *EBITDA growth of 13% to €579 million with an EBITDA margin of 19.3% *ROCE of 21.6% *Net Debt to EBITDA ratio of 1.2x *Finalised exit from Russian business. Tony Smurfit, Group CEO, commented: “Smurfit Kappa is reporting another strong performance for the first quarter with EBITDA of €579 million, an EBITDA margin of 19.3%, a ROCE of 21.6% and a net debt to EBITDA of 1.2x. This performance reflects the continuing benefits of our integrated model, the effectiveness of our capital spend, our constant focus on innovation for customers and our geographic footprint.
Sealed Air announced it has launched a BUBBLE WRAP® brand paper bubble mailer, a fiber-based padded mailer that can be recycled in curbside bins. On the outside, the BUBBLE WRAP® brand paper bubble mailer looks like a traditional mailer but it’s what on the inside that makes it different. The inner padding is made of a paper material that mimics the original BUBBLE WRAP® brand cushioning. Benefits of the BUBBLE WRAP® brand paper bubble mailer: *Smaller and lighter than traditional boxes, which reduce shipping costs and dimensional weight *Durability: Completed testing done in International Safe Transit Association certified labs that assess packaging durability through the rigors of shipping *Curbside recyclability: Certified by the Western Michigan University OCC equivalency testing protocol. The mailers will first be available to customers in SEE’s North America market, before expanding globally by early 2023.