Swedish road and infrastructure operator Svevia has decided to collaborate with Stora Enso in testing lignin in asphalt. Through this collaboration, Svevia aims to replace part of the oil-based binder with nature’s own binder – lignin, Lineo ™ by Stora Enso. The lignin containing asphalt is currently being tested out on Swedish roads. Svevia is carrying out road paving work on road 224 between the towns of Sandbrink and Gnesta on behalf of the Swedish Transport Administration. Of the total 15-kilometre stretch, Svevia has chosen to test Lineo™ on a couple of hundred meters, where lignin will replace bitumen. Lignin was chosen as it is a bio-based natural binder found in trees with the potential of reducing the negative climate impact of asphalt.
National Average Price for Regular Unleaded Current: $2.176; Month Ago: $2.182; Year Ago: $2.655. National Average Price for Diesel Current: $2.382; Month Ago: $2.409; Year Ago: $2.999.
American Dollar to Canadian Dollar = 0.757687; American Dollar to Chinese Yuan = 0.149279; American Dollar to Euro = 1.174265; American Dollar to Japanese Yen = 0.009501; American Dollar to Mexican Peso = 0.047216.
Employee consultations for UPM Communication Papers were concluded at the Jämsä River mills this week. The UPM Kaipola paper mill in Jämsä, Finland, will be closed permanently by mid-December. UPM’s second paper mill in Jämsä, UPM Jämsänkoski, will continue operations with one graphic paper machine and two specialty paper machines. The parties were not able to identify an economically viable solution for the future operation of UPM Kaipola. Consequently, Kaipola’s three paper machines will be permanently closed, affecting altogether 448 positions at the mill, of which 20 positions will be transferred to UPM Jämsänkoski’s Specialty Papers operations. Approximately 20 % of the redundancies will be retirements, with discussions pending. The closure will lead to an annual reduction of 720,000 tonnes of graphic paper capacity, thereof 450,000 tonnes of newsprint and 270,000 tonnes of coated mechanical paper. An after-care team will ensure safe conditions at the mill after the closing.
Procter & Gamble shareholders overwhelmingly approved a proposal urging the company to issue a report that increases its efforts to eliminate deforestation, with the implication that more needs to be done. The vote was pegged a major victory for environmentalists concerned about P&G’s policies. Because of the company’s size and stature worldwide, it could send a loud statement to other consumer packaged goods manufacturers that paying attention to environmental issues is becoming a real factor with the public and Wall Street. The shareholder proposal, sponsored by the environmentally sensitive Green Century Equity Fund, passed Tuesday with over two-thirds of investors’ votes -- -and over the recommendation to vote against it from P&G’s board.
Fourth quarter Walgreens Boots Alliance highlights, year-over-year: *Sales increased 2.3 percent to $34.7 billion, up 2.3 percent on a constant currency basis *Operating income decreased 26.0 percent to $650 million; Adjusted operating income decreased 27.7 percent to $1.1 billion, down 27.4 percent on a constant currency basis. Fiscal 2020 highlights, year-over-year: *Sales increased 2.0 percent to $139.5 billion, up 2.5 percent on a constant currency basis *Operating income decreased 73.7 percent to $1.3 billion; Adjusted operating income decreased 24.9 percent to $5.2 billion, down 24.8 percent on a constant currency basis *Net cash provided by operating activities was $5.5 billion, a decrease of $109 million compared with fiscal 2019; Free cash flow increased 5.6 percent to $4.1 billion
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Amcor is proud to be joining a new call for a UN treaty on plastic waste, following a recent report from Boston Consulting Group, World Wildlife Foundation and Ellen MacArthur Foundation. Amcor has embraced a leadership role in the packaging industry, to drive fast and tangible progress towards responsible packaging. Our company’s contribution is most visible through 1) our innovation - such as our recent, world first recyclable retort pet food pouch – 2) collaborating for better policy and 3) informing consumers about how their recycling practices make a huge difference in keeping waste out of the environment. That progress at industry level must continue and gather even more pace. But it must also be matched by a serious, concerted effort by governments to invest in the necessary infrastructure needed to manage waste and increase recycling – of all of types of waste.
Evergreen Packaging®, a global leader in plant-based packaging solutions today announced that Clover Sonoma, a third-generation family-owned and operated dairy, is transitioning its half-gallon organic milk to the PlantCartonTM package with RenewablePlusTM paperboard by Evergreen. “As a company, we continuously look for innovative approaches to reaching sustainability goals, and packaging is an important part of that,” said Kristel Corson, vice president of sales and marketing at Clover Sonoma. “We are the first dairy to switch to Evergreen Packaging’s fully renewable plant-based milk carton, and we chose the RenewablePlus cartons because they support responsible forest management, while utilizing less plastic, encouraging recycling, and decreasing the use of fossil fuels.” “As the world’s most trusted forest certification, the Forest Stewardship Council® demonstrates that Clover Sonoma and Evergreen Packaging are meeting the highest standards of responsible forest management,” said Chris McLaren, Chief Markets and Marketing Officer for FSC® US. Evergreen Packaging is Forest Stewardship Council certified (FSC®-C016043).
Average input costs were stable sequentially and cost control was strong across the business. Currency movements had a net negative impact on underlying EBITDA compared to the second quarter, driven by a weaker US dollar, impacting a number of the Group's globally traded products, coupled with a weaker Russian rouble and Turkish lira. Given prevailing exchange rates, we anticipate a further net negative currency impact in the fourth quarter. During the quarter, planned maintenance shuts with an estimated impact on underlying EBITDA of around €35 million (2019: €40 million) were carried out successfully. Based on prevailing market prices, we continue to estimate that the impact of planned mill maintenance shuts on underlying EBITDA for 2020 will be around €100 million (2019: €150 million), with the fourth quarter impact expected to be around €55 million (2019: €30 million). Our major capital investment projects are progressing according to plan. The €67 million capital investment project to convert a containerboard machine at Štětí (Czech Republic) to become fully dedicated to the production of speciality kraft paper for shopping bag applications is scheduled to be commissioned during the fourth quarter. This additional capacity (75,000 tonnes) further supports our retail customers in their efforts to replace unnecessary plastic as they transition to more sustainable packaging solutions that contribute to the circular economy.