Ahlstrom-Munksjö will invest EUR 58 million in a new glass fiber tissue production line in the U.S. to support the flooring industry in North America. The investment will further strengthen the company’s position as a leading global supplier of high performance materials. The new line will produce a full range of glass fiber tissue nonwovens with a main focus on Luxury Vinyl Tiles and Vinyl sheet materials. Customer deliveries from the new line are expected to start in mid-2023. "The investment in this new state-of-the-art foam forming glass fiber in the U.S. is a major step in Ahlstrom-Munksjö's global growth strategy in glass fiber tissue market. In combination with our existing plants in Finland and Russia, this new plant will further strengthen our leadership in this field by consolidating our global position in flooring applications but also by giving us a unique platform to expand into other glass fiber tissue applications," says Hans Sohlström, President & CEO of Ahlstrom-Munksjö. The new line will be installed on the Madisonville site, Kentucky, where Ahlstrom-Munksjö already has an established plant developing and producing filtration materials for transportation and industrial applications. The necessary land area has been granted by the local authorities in Kentucky.
Net sales for the three months ended March 31, 2021 decreased $189 million compared to the three months ended March 31, 2020, as a result of significant declines in sales volume and unfavorable price/mix. Of the $189 million, or 40%, net sales decline, $59 million, or 13%, was a result of the sale of our Androscoggin and Stevens Point mills in February 2020, and $33 million, or 7%, was attributable to the indefinite idling of our Duluth Mill in July 2020. The remaining $97 million was a combination of market declines and the idling of our Wisconsin Rapids Mill. Total company sales volume was down from 554 thousand tons during the three months ended March 31, 2020, to 339 thousand tons during the same period of the current year. Of the 215 thousand ton volume decline, 59 thousand tons were a result of the sale of our Androscoggin and Stevens Point mills in February 2020, 54 thousand tons were attributable to the indefinite idling of our Duluth Mill in July 2020, and the additional decline in volume resulted from lower customer demand and the idling of our Wisconsin Rapids Mill. Operating loss was $109 million for the three months ended March 31, 2021, a decrease of $185 million when compared to operating income of $76 million for the three months ended March 31, 2020.
UPM will close the unexplained gender pay gap that cannot be explained for example by person's performance, work experience, job grade or job location, i.e. the factors that typically determine a person’s salary and its development. The pay equity review, carried out this year, applies to all of UPM's operating countries and is part of the company’s fair remuneration policy. The review starts with a salary analysis of salaried employees and continues later this year with the wages of production workers. “Although UPM salaries and wages are mostly equal, there appears to be an unexplained gender gap in pay. Most of the unexplained pay gaps are estimated to be related to gender and lower starting salary. This gap is difficult to catch up, even if a person receives normal salary increases during their career. With the review, the deviation is corrected,” says Riitta Savonlahti, Executive Vice President, Human resources.
KP Tissue Inc. reports the Q1 2021 financial and operational results of KPT and Kruger Products L.P. Kruger Products is Canada's leading manufacturer of quality tissue products for the Consumer market (Cashmere, Purex, SpongeTowels, Scotties, and White Swan) and the Away-From-Home market and continues to grow in the U.S. Consumer tissue business with the White Cloud® brand and premium private label products. KPT currently holds a 14.6% interest in KPLP. KPLP Q1 2021 Business and Financial Highlights • Revenue decreased by $64.7 million or 17.3% to $310.4 million in Q1 2021 compared to $375.1 million in Q1 2020. • Adjusted EBITDA was $37.5 million in Q1 2021 compared to $51.0 million in Q1 2020, a decrease of 26.5%, and compared to $36.2 million in Q4 2020, an increase of 3.5%. • TAD Sherbrooke start-up was successful in Q1 and is running above the ramp-up curve. • Declared a quarterly dividend of $0.18 per share to be paid on July 15, 2021.
Interfor Corporation recorded Net earnings in Q1’21 of $264.5 million, or $4.01 per share, compared to $149.1 million, or $2.24 per share in Q4’20 and $6.3 million, or $0.09 per share in Q1’20. Adjusted net earnings in Q1’21 was $270.6 million compared to $164.7 million in Q4’20 and $0.7 million in Q1’20.
ANDRITZ will install a FibreFlow drum pulper, type FFD450EE, as well as various fiber cleaning and reject handling equipment to upgrade the existing OCC line and expand the mill’s production of lightweight recycled packaging papers. The stock preparation system features a capacity of 1,200 bdmt/d and processes a mix of OCC and mixed waste as raw material. The FibreFlow Drum pulper is a complete pulping system in one unit and ensures best accept quality thanks to the gentle pulping concept and efficient removal of coarse contaminants with minimum fiber loss.
Kernow North America, leading manufacturer of OEM certified printable digital synthetic papers, has introduced a unique one part textured printable PVC-Free outdoor floor graphic media to their Wide format KernowJet range. KernowJet RoadSharK is a textured multi-core PVC-Free film with high conformability and optimized pressure sensitive adhesive for exterior floor signage applications. With more aggressive textured anti-slip properties, KernowJet RoadSharK is designed for outdoor applications on concrete paving, asphalt and stonework or uneven surfaces for up to 3 to 6 month’s exterior durability (dependent on traffic and surface) and is suitable for solvent, latex and UV inks (UV inkjet printing recommended for highest durability). KernowJet RoadSharK comes with an R12 and PTV >36 Low Slip certification, reducing the risk of slips and trips in both wet and dry conditions in harsh outdoor environments.
Domtar Corporation reported a net loss of $29 million for the first quarter of 2021 compared to a net loss of $59 million for the fourth quarter of 2020 and net earnings of $5 million for the first quarter of 2020. Sales for the first quarter of 2021 were $944 million. The first quarter 2021 results include an after-tax loss of $22 million from discontinued operations related to the sale of the Personal Care Business. Excluding discontinued operations and the items listed below, the Company had earnings from continuing operations before items1 of $5 million for the first quarter of 2021.
First Quarter Highlights *Net sales of $227.0 million were up 10 percent from the fourth quarter of 2020, continuing the sequential growth since the second quarter of 2020, with strong rebounds in each segment. *Net sales in Technical Products were up 10 percent from prior year; with record quarterly sales and profits in filtration. *Cash generated from operations of $20.7 million increased from $14.2 million in the prior year. *Liquidity of $197 million as of March 31, 2021 increased from $176 million as of December 31, 2020. *On April 6, 2021, completed the acquisition of ITASA, which is highly aligned with Neenah's growth strategy and expands Neenah's presence in specialty coatings.
Q1 2021 Highlights (comparative figures have been restated to reflect discontinued operations2) • Sales of $1,182 million (compared with $1,242 million in Q4 2020 (-5%) and $1,265 million in Q1 2020 (-7%)) • As reported (including specific items) ◦ Operating income of $52 million (compared with $113 million in Q4 2020 (-54%) and $87 million in Q1 2020 (-40%)) ◦ Operating income before depreciation and amortization (OIBD)1 of $128 million (compared with $183 million in Q4 2020 (-30%) and $157 million in Q1 2020 (-18%)) ◦ Net earnings per share of $0.22 (compared with $0.72 in Q4 2020 and $0.24 in Q1 2020)