Containerboard production was 5.2% higher compared to July 2016. The month-over-month average daily production compared to June 2017 was 1.7% higher. The containerboard operating rate for July increased from 96.3% to 97.9%, which was 2.8 percentage points higher compared to July of last year. Year-to-date production of containerboard for export is up 6.3%.
http://afandpa.org/media/news/2017/08/17/american-forest-paper-association-releases-july-2017-containerboard-report
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Third Quarter Highlights include (all results compared to the third quarter of 2019 unless otherwise noted): *Net income of $20.7 million decreased compared to net income of $62.7 million *Net cash provided by operating activities decreased by $6.5 million to $135.0 million. *Total debt decreased by $240.9 million to $2,637.6 million. Net debt(4) decreased by $263.6 million to $2,539.1 million and decreased $70.8 million sequentially from the second quarter of 2020.
Greif, a global leader in industrial packaging products and services, announces the expansion of its Houston, Texas, footprint by making a multimillion-dollar investment in an intermediate bulk container (IBC) manufacturing facility. The existing 100,000 square foot building is located in Baytown, Texas, and is scheduled to be operational during the second quarter of 2018.
The Mayr-Melnhof Group ("MM") and a subsidiary of Oaktree Capital Management, LP's advisory funds have reached a firm memorandum of understanding to transfer MM's virgin fiber board plants in Eerbeek, the Netherlands, and Baiersbronn, Germany, to Oaktree an equity value of EUR 104.6 million plus net debt according to the final invoice. Eerbeek and Baiersbronn together have an annual capacity of around 245kt virgin fiber board (FBB), which is produced on two board machines, and employ around 400 people. Sales in 2020 reached EUR 195 million. The sale corresponds to and is part of MM's strategy to focus on new acquisitions and growth investments.