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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Net sales in the first quarter were $2,197 million compared to $1,901 million in the first quarter of 2017 reflecting increased beverage can volumes, the pass through of higher material costs to customers, and $121 million of favorable currency translation impact. Income from operations was $221 million in the quarter compared to $225 million in the first quarter of 2017. Segment income increased to $245 million in the first quarter compared to $226 million in the prior year first quarter and included $12 million of favorable currency translation impact. Click Read More below for additional information.
Mondi, a global leader in sustainable packaging and paper, has enhanced its Product Impact Assessment (PIA) tool with new environmental key performance indicators (KPIs). The Group’s broad range of life cycle assessment tools are designed to provide science-based, tailored information to customers about the environmental impacts of paper- and plastic-based products for better decision-making. The Group’s PIA tool initially focused on carbon and water scarcity but now has additional KPIs to address further key aspects in the sustainable design of products, such as: ‘Designed for recycling’; ‘Recycling rates in region’; ‘Share of plastics (PO) content’; ‘Share of renewable content’; ‘Share of recycled content’; and ‘Certified for composting’.
Located in the heart of the Midwest, the new facility will primarily focus on serving the protein segment, providing tailored packaging solutions and meeting the growing demand for high-quality, sustainable packaging. "We are thrilled to break ground and invest in our company and the city of Waterloo," said John Berry, Group Vice President, International Paper. "This facility represents our dedication to growing in markets where we want to compete, advancing our capabilities and ensuring our customers receive quality and reliable products. We look forward to our continued future in Waterloo and are very grateful to everyone who has made today possible." The Waterloo box plant will feature cutting-edge technology and equipment, enabling International Paper to deliver innovative and sustainable packaging solutions. The plant's design incorporates the latest safety practices and industry technology.