Saudi Arabia’s oil minister cast fresh doubt on whether that production-cut agreement would be reached by the Organization of the Petroleum Exporting Countries, plus Russia and other producers, who are meeting in Vienna Thursday, the Wall Street Journal reported, citing to news reports from the region. “According to [Saudi Minister Khalid] al-Falih, it is premature to say whether OPEC and the non-OPEC countries — including Russia — that will be attending the meeting will reach any such agreement,” said Commerzbank commodities analysts in a note, citing those reports. Click read more below for additional detail.
According to the 2018 EcoFocus Trend Study conducted by EcoFocus Worldwide, grocery shoppers in 2018 have greater expectations of packaging than ever before – especially when it relates to healthy food and beverages. Brands in the healthy food and beverage category who have embraced CLEAN LABEL and CLEAN PROCESSING now have the opportunity to add CLEAN PACKAGING as a way to further differentiate their products on the grocery shelves. More shoppers are choosing stores based on their offerings of healthy and environmentally friendly selections. Packaging is a factor in these decisions. 67% of grocery shoppers say “retailers should choose what products they put on their shelves based on how environmentally friendly the packaging is.” Click read more below for additional detail.
The Norske Skog group has decided to invest about AUD 7 million to upgrade the Nature’s Flame wood pellets facility in New Zealand to more than double its annual production capacity to 85,000 tonnes. The increased production capacity will be commissioned in the fourth quarter of 2019. The approval of the 85,000 tonne capacity upgrade is also a building block for potential further expansion of Norske Skog’s pellet operations in New Zealand. Mr. Eric Luck, Regional President Norske Skog Australasia, comments: “The investment supports Norske Skog Australasia’s ongoing strategy to “Build Our Future from Fibre and Energy”. The additional production capacity is aimed at producing premium industrial grade pellet fuels for both the domestic New Zealand commercial and industrial market, as well as for the rapidly growing Japanese and Korean green energy generation markets.” Click read more below for additional detail.
The packaging leader has acquired the Caradec Box Plant in the Morbihan County and the Saint Pol de Léon site in the Finistére County, reinforcing its capabilities in the fruit and vegetable sector. Smurfit Kappa has a strong track record in producing innovative and sustainable packaging solutions for the agriculture sector so the Caradec Box Plant is a natural fit with the company. Smurfit Kappa will now have a stronger link to the Brittany food markets and welcomes 200 employees to its worldwide community of employees. Click read more below for additional detail.
Keep Me Posted (KMP) today announced the launch of its campaign in North America. KMP is a global advocacy campaign working for the right of every consumer to choose, free of charge, how they receive important information from their service providers – on paper or electronically. Overseen by Two Sides North America, the KMP North America campaign will focus on educating and challenging corporations that are removing consumer choice and charging fees for paper. The campaign will coordinate with KMP global campaigns already launched in several European countries and Australia. Click read more below for additional detail.
SECOND QUARTER 2019 HIGHLIGHTS • Reported results (GAAP): Revenue of $449 million (-1% vs. prior year), Operating Income of $57 million (-29%), and EPS of $0.76 (-27%), with earnings performance impacted by $10 million in restructuring charges in the current quarter • Acquisition of The Learning House (completed on November 1) strengthens Wiley’s leadership in the rapidly-growing $10 billion education services market for universities and corporations. Click read more below for additional detail.
President and CEO Ned Dwyer said one machine at Powell River’s mill and one at Port Alberni’s mill have been shut down for a temporary ten-day period. He noted that the temporary stoppage will affect around 140 employees at both mills, according to the company. “The company is working to balance labour and production time to mitigate layoffs,” Dwyer said in a statement. Dwyer also said the curtailment is due to the “sudden weakness in Asian markets”, where the company had increased its sales following recent U.S. trade actions. Click read more below for additional detail.
Stora Enso and Sulapac continue to combat the global problem of plastic waste by launching a demo for sustainable drinking straws at Slush 2018, a leading startup event that gathers 20 000 tech enthusiasts from around the world. The demo, which targets production on an industrial scale, is designed to replace traditional plastic straws with renewable ones. The straws are based on Sulapac’s biocomposite material – made of wood and natural binders – designed to be recycled via industrial composting and biodegrade in marine environments. “This is an important step for Stora Enso and showcases our long-term commitment to gradually replacing fossil-based materials with renewable solutions. Our collaboration with Sulapac is a great example of what we can achieve through partnership in terms of driving innovation to create sustainable solutions within the bioeconomy”, says Annica Bresky, EVP, Consumer Board division. Click read more below for additional detail.
European institutions have agreed on the Renewable Energy Directive REDII for the 2020s after the European Council adopted the agreement made earlier this summer. UPM welcomes the agreement that will increase the use of renewable energy to 32% in 2030 and requires 14% bioenergy to be used in transport. All the EU member states are obliged to implement a binding advanced biofuel blending mandate starting 2022. UPM Biofuels is one of the front-runners in the advanced biofuels industry. The UPM Lappeenranta Biorefinery, the world's first to produce wood-based renewable diesel and naphtha on a commercial scale, has proven the potential as a significant producer of truly sustainable advanced biofuels. UPM BioVerno, which reduces greenhouse gas emissions by over 80% compared with fossil fuels, has found a solid marketplace. Click read more below for additional detail.
Oil prices rose more than 2 percent on Tuesday, extending gains ahead of expected output cuts by producer cartel OPEC and a reduction in Canadian supply. The Middle East-dominated Organization of the Petroleum Exporting Countries will meet on Thursday in Vienna to agree future output and will discuss strategy with other producers outside OPEC, including Russia. OPEC and its allies are working towards a deal to reduce output by at least 1.3 million barrels per day (bpd), OPEC sources have told Reuters, adding that they were still talking to Russia about the extent of its production cuts. Click read more below for additional detail.