Resolute earned top marks for sustainability leadership at Business Intelligence Group’s (BIG) 2018 Sustainability Awards. BIG recognizes organizations and individuals who have made sustainability an integral part of their business practice, and who honor their sustainability commitments. This marks the second consecutive year Resolute has been recognized by the Sustainability Awards. In 2017, Seth Kursman, vice president, Corporate Communications, Sustainability and Government Affairs, received the top individual honor. “We are particularly proud of receiving the highest rating in 2018, as it recognizes our comprehensive sustainability strategy, which is designed to enhance our competitive position. Our approach reinforces our vision that profitability and sustainability drive our future,” said Kursman. “As an industry leader, we’ve moved beyond minimal regulatory compliance and environmental incident management to commit to transparency and maintaining annual sustainability reporting.” Click Read More below for additional information.
Ahlstrom-Munksjö reinforces its market position and modernizes its production platform in the Beverage & Casing business by purchasing a secondhand Voith paper making line, to be dismantled and transferred to the Chirnside manufacturing site in the UK. The asset, near state-of-the-art, will be installed on the site where Ahlstrom-Munksjö already has extensive competence and product knowledge in the manufacturing of tea and coffee filter paper and fibrous meat casing materials. The financial benefit of the EUR 28 million investment is attractive and include improved product capabilities, increased manufacturing capacity as well as higher production efficiency. Utilizing existing infrastructure at the site minimizes capital expenditure and shortens the installation period for the investment. The machine is expected to be fully commissioned in the beginning of the fourth quarter of 2019. The new production line will strengthen product capabilities and, combined with Ahlstrom-Munksjö’s extensive offering of biodegradable and compostable solutions, enables growth in the attractive tea and coffee markets. The investment addresses also the constrained capacity situation in all three segments; coffee, tea and casing, and enables the company to respond to growing end-use demand. Click Read More below for additional information.
The Business Intelligence Group named Asia Pulp & Paper’s Foopak Bio Natura suite of food packaging products “Sustainability Product of the Year” in the 2018 Sustainability Awards program. The Sustainability Awards honor those people, teams and organizations who have made sustainability an integral part of their business practice or overall mission. In response to the demands of consumers and the brands that serve them, APP’s Foopak Bio Natura is replacing plastic, foam and PE-coated food packaging with a fully compostable, sustainable paperboard alternative. Especially designed for converting both hot and cold beverage cups and other food packaging, the cup stock can sustain heat up to 440 degrees Fahrenheit/220 degrees Celsius. Foopak Bio Natura cup stock is FDA-certified and meets the standards with the FTC’s Green Guides for biodegradability and compostability. Testing by the Isega Institute shows scientific evidence the stock can completely break down and return to nature by decomposing in a matter of 12 weeks. Additionally, Bio Natura can be safely composted in a facility or home compost pile. Click Read More below for additional information.
EBITDA for the quarter amounted to SEK 203 million, a decrease of 76% primarily related to provisions. Net sales increased by 5%, mainly driven by increased prices and a positive currency impact. Variable costs increased, due to demand-driven price increases for wood and chemicals. The adjusted EBITDA margin was 11%. Production losses due to continued wood shortages had a negative impact of SEK 100 million on EBITDA. The planned and prolonged maintenance shutdowns at Gruvön and Skärblacka were carried out at a total cost of SEK 401 million, which was SEK 66 million higher than expected due to certain start-up issues. Click Read More below for additional information.
Oil prices declined on Wednesday after a slight increase in the previous session amid a surprise surge in US crude inventories reported last week. After rising to over $72 per barrel yesterday, Brent oil went back on the dropping track, as the American Petroleum Institute revealed a rise of over 600,000 barrels in US crude stockpiles last week. Meanwhile, Libya reopened its ports and started exporting oil again after the closures of its oil field. The country’s National Oil Corporation announced its force majeure on exports from Zawiya oil terminal on Tuesday, in a bid to boosting national production. Click Read More below for additional information.
Sales increased 9.4 percent in the 2018 second quarter versus the 2017 second quarter, driven by a 9 percentage point increase from volume and 1 percentage point from foreign exchange, partially offset by a 1 percentage point decline from the divestiture of a specialty business. Reported gross profit margin for the quarter was 38.8 percent vs. 39.8 percent in the 2017 second quarter. Adjusted gross profit margin for the quarter was 38.9 percent vs. 39.9 percent in the prior year. Click Read More below for additional information.
Intertape Polymer Group Inc. announced it has entered into a definitive agreement to acquire 100% of the outstanding equity value in Polyair Inter Pack Inc. for total cash consideration of approximately $146 million, subject to certain closing and post-closing adjustments. All amounts are in US dollars. Polyair, a private company, is a significant industry player in the protective packaging business with seven manufacturing facilities and a distribution center in North America. Polyair's primary products consist of bubble cushioning, foam, mailers and air pillow systems, which are complementary to IPG’s existing product offering. The acquisition will further strengthen IPG’s product bundle and bring immediate and additional scale of protective packaging solutions. With the diverse set of customers between IPG and Polyair, this enhanced product bundle should facilitate significant cross-selling opportunities as both companies currently sell products through similar distribution and end user customer channels. Specifically, both companies have been focused on the e-commerce segment as a growth engine, which is expected to be leveraged even further with this combination. In addition to these revenue synergies, IPG expects to benefit from certain operational cost synergies at Polyair. Upon closing, IPG expects to have a comprehensive offering of packaging and protective solutions with the capability to serve more customers in multiple geographic markets. Click Read More below for additional information.
Ennis, Inc., announced the signing of an agreement to merge Wright Business Graphics with a wholly owned entity of Ennis in a stock merger transaction that is expected to close on or before September 30, 2018, pending approvals. Wright Business Graphics is a printing company headquartered in Portland, Oregon. The majority stockholder, Jim Wright, began the company back in 1970 and built it into the large, highly diverse print communication organization that exists today. Wright has 7 locations in Oregon, Washington and California with its main facility located in Portland, Oregon. The business produces forms, pressure seal, packaging, direct mail, checks, statement processing and commercial printing. Wright had approximately $58 million in sales for its fiscal year ended March 31, 2018 and sells mainly through distributors and resellers. Wright will continue in all of its current locations, and Dan Adkison will continue in his current role as President/COO of Wright Business Graphics. The purchase price will be paid 55% in cash and 45% in stock (based on the weighted average share price of the Company’s common stock for the previous 30 trading days). The Company believes the transaction will be accretive to its shareholders. Click Read More below for additional information.
OHSAS 18001 (Occupational Health and Safety Assessment Series) is the most widely used and internationally accepted standard for occupational health and safety. Following the recent publication of the new ISO 45001 standard, which will replace the OHSAS 18001 standard in three years, Lecta has begun the adaptation process with the goal of working to the new standard as of next year. Lecta had already obtained individual OSHAS 18001 certification for all its mills, warehouses and offices, proof of its commitment to the safety and health of its employees, as well as the goal of continuous improvement shared with the quality and environmental management systems that the company is based on. Click Read More below for additional information.
Mary Lee Schneider, president and CEO, describes what makes SG360° a direct mail printing industry powerhouse; how her firm is deploying standalone and hybrid inkjet printing equipment for data-driven 1:1 marketing; and why its sheetfed offset printing presses remain key production workhorses. Click Read More below to get to link for video.