Q3 2019 highlights •Sales decreased by 6% to EUR 2,493 million (2,650 million in Q3 2018) •Comparable EBIT decreased by 19% to EUR 342 million (420 million) •Sales prices decreased in pulp, outweighing the impact of lower variable costs in all business areas. Q1-Q3 2019 highlights •Sales grew by 1% to EUR 7,791 million (7,752 million in Q1–Q3 2018) •Comparable EBIT decreased by 4% to EUR 1,061 million (1,109 million) •Operating cash flow increased to EUR 1,256 million (947 million) •In July, UPM announced a USD 2.7 billion investment in a 2.1 million tonne eucalyptus pulp mill near Paso de los Toros, Uruguay •In July, UPM closed paper machine 10 at UPM Plattling, Germany •In September, UPM announced plans to close paper machine 2 at UPM Rauma, Finland, to sell UPM Chapelle newsprint mill in Grand-Couronne, France and to establish a new Business Services Hub in Wroclaw, Poland
Avery Dennison (NYSE:AVY) said today it has agreed to acquire JDC Solutions, Inc., a privately owned manufacturer of pressure-sensitive specialty tapes headquartered in Mount Juliet, Tennessee, for the purchase price of $24 million. JDC employs approximately 75 employees located at its headquarters and manufacturing site in Tennessee, with approximately $30 million in annual revenue.
JDC manufactures specialty tapes for use in a variety of high-value industrial applications, and has longstanding relationships with U.S. converters serving the automotive, consumer appliance, and building and construction industries, among others. Upon completion of the acquisition, JDC’s manufacturing operations, workforce and product portfolio will become part of Avery Dennison’s Performance Tapes North America business.
The acquisition is expected to close in Q1, subject to customary conditions and approvals.