Containerboard production was up 1.5 percent compared to May 2017 and up 0.8 percent year-to-date. The month-over-month average daily production compared to April 2018 was 1.5 percent higher. The containerboard operating rate was 98.5 percent, 1.4 percentage points higher than the same month last year. Production for export was 3.6 percent lower than May 2017 and 5.4 percent lower year-to-date.
http://afandpa.org/media/news/2018/06/15/american-forest-paper-association-releases-may-2018-containerboard-report
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Net sales of $1.38 billion, down 3% as reported; down 1% constant currency Net earnings of $94 million, down 18% Earnings per share (Diluted) of $0.65, down 16% Cash flow from operations (year to date) use of $7 million Cash flow from operations includes the impact of the $175 million tax deposit
Silgan Holdings Inc. a leading supplier of sustainable rigid packaging solutions for consumer goods products, announced today that it has concluded a settlement with the European Commission to end a long-running investigation of Silgan's metal packaging operations in Europe. This investigation was started in 2015 by the German antitrust authority and was transferred in 2018 to the European Commission only after the German antitrust authority determined it would be dicult for it to impose nes under German law. As part of the settlement, Silgan has agreed to pay a ne of €23,852,000 to put an end to the investigation, although Silgan does not fully concur with the facts and legal qualications put forth by the European Commission. The European Commission has agreed to fully close its investigation and not proceed any further with respect to this matter.
Stora Enso opens a new corrugated packaging production factory at De Lier, the Netherlands. The site is part of the recently acquired De Jong Packaging Group, now Business Unit Western Europe in the Packaging Solutions division. The major expansion has been designed with a strong focus on sustainable operations. The expansion adds a new, second factory to the De Lier site and equipping the facility with two new corrugators to augment the existing two. As a result of the expansion, the site is now the largest and most modern corrugated packaging facility in Europe. The De Lier site’s products currently include boxes and trays for fresh produce, horticultural and industrial applications, e-commerce and transport. The newly opened factory at De Lier utilises a variety of sustainable solutions, such as 3.8 MWp of solar panels installed on the roof, which will provide electricity to an equivalent of 1,000 households. The residual heat generated by the corrugators will be used to heat the site’s office buildings, further reducing their carbon footprint.