Total Packaging Papers shipments were 240,000 tons, 2.5 percent higher than December 2016. Bag & Sack shipments were up 1.3 percent year-to-date, while Food Wrapping shipments were down 6.0 percent over the same period. The operating rate for December 2017 was the second highest of the year at 92.0 percent, while the year-to-date rate was 88.6 percent. Inventories were 165,800 tons, down 4.2 percent since November 2017.
http://afandpa.org/media/news/2018/01/16/american-forest-paper-association-releases-december-2017-u.s.-packaging-papers-specialty-packaging-monthly-report
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The Coalition for Fair Trade in Shopping Bags (the "Coalition") applauds the final determinations announced today by the United States Department of Commerce ("Commerce") that imports of paper shopping bags into the United States from Cambodia, China, Colombia, India, Malaysia, Portugal, Taiwan, and Vietnam are being sold at less than fair value (commonly termed "dumping") and that imports from China and India also are being subsidized. This follows an affirmative final finding of dumping announced in March with respect to imports of paper shopping bags from Turkey. Commerce's investigations concerning these nine countries cover paper shopping bags with handles of any type, whether printed or unprinted. In its final determinations, Commerce concluded that imports of paper shopping bags from each of the nine countries are being unfairly traded. In particular, Commerce found combined dumping margins and subsidy rates of up to 308.13 percent. This means that U.S. importers of paper shopping bags from these countries will have to pay cash deposits to U.S. Customs and Border Protection ("Customs") based on the value of their future imports.
Smurfit Westrock invested approximately US $3.5 million in social and environmental initiatives in Colombia in 2024, reinforcing its commitment to the sustainable development of the communities where it operates. The initiatives, which positively impacted 21,800 people in more than 30 municipalities, were in areas including education, income generation and environmental management. Managed by the Smurfit Westrock Colombia Foundation, which was established in 1962, alongside the forestry division, the company has fostered deep roots within the community. Early childhood development has been one of the cornerstones of the initiatives with the Foundation’s child development center, El Caracolí, providing care for over 590 vulnerable children in Yumbo. Secondary level education also receives strong support with over 580 students attending the company’s agricultural and forestry technical institute (ITAF) school in 2024. The school, which specializes in rural education, teaches students from the Cajibío and El Tambo municipalities (Cauca) and Calima Darién (Valle del Cauca) and has above-average scores in Saber tests. To date, over 1500 students have graduated from ITAF and 40% of them have been employed in local industrial and agricultural sectors.
Net sales of $1.33 billion decreased 1% as reported, with EMEA decreasing 6%, APAC decreasing 3% and the Americas up less than 1%. Net earnings were $83 million, or $0.57 per diluted share, as compared to net earnings of $63 million, or $0.44 per diluted share. The current year results were impacted by $29 million of Special Items expense, including $22 million of restructuring and other associated costs related to the cost take-out to grow program ("CTO2Grow Program"). The prior year results were impacted by $44 million of Special Items expense, $30 million of which related to the Liquibox acquisition. Income tax expense was $36 million, resulting in an effective tax rate of 30.0% in the quarter. This compares to an income tax expense of $34 million in the prior year period, or an effective tax rate of 35.0%. The lower effective tax rate is primarily driven by lower accruals for uncertain tax positions in the current year.