Ferrero’s WK Kellogg buyout

Green Bay Packaging Inc. announced plans to replace its 71-year-old Green Bay Paper Mill with a new state-of-the-art facility. The more than $500 million investment is the largest business development project in both Brown County and Green Bay Packaging company history. The new Green Bay Mill will be the first new paper mill in Wisconsin in more than 30 years. “Paper making has long been a staple in Wisconsin’s economic success, but it’s no secret that many paper mills across the state have closed down or moved out in recent years,” said Will Kress, president and CEO of Green Bay Packaging. Click Read More below for additional information.

PaperWorks is increasing its production capacity and capabilities, investing in new technology innovation and platforms in the Greensboro, North Carolina facility. The state-of-the-art equipment and new technology platforms will integrate well with PaperWorks’ highly-efficient business model by offering the most sophisticated automation geared towards in-line innovation and full-quality control. The new investment consists of: *A new 41” Offset printing press from Komori (Japan) – GLX740 with seven colors and two coaters including automating logistics, in-line color control, in-line detection systems, automated changeovers and in-line cold foil technology. This top-of-the-line technology platform will allow for the production of high-end cartons that will be highly sustainable and cost-efficient. *Two new MasterFold folding gluing lines from Bobst (Switzerland) – 110A1 with 600Meters/Min line speed including end-to-end automation through a full batch turner, easy feed and auto packer. These lines are made with a highly sophisticated servo controlled matic system and innovative technology used between job changeovers. They are equipped with a world-class, advanced gluing system and detection systems for full in-line quality and process control.

Net sales for the first quarter of 2018 were $1.01 billion, an increase of $206.9 million, or 25.7 percent, as compared to $805.4 million in 2017. This increase was the result of the acquisition of the Dispensing Systems operations in April 2017 and higher net sales in each of the businesses. Income before interest and income taxes for the first quarter of 2018 was $92.2 million, an increase of $35.4 million, or 62.3 percent, as compared to $56.8 million for the first quarter of 2017, and margins increased to 9.1 percent from 7.1 percent for the same periods. Click Read More below for additional information.