Grainger Releases 2023 Environmental, Social and Governance (ESG) Report

Operating income for the fourth quarter of 2017 was $4.1 million compared to an operating loss of $8.1 million in 2016. Fourth quarter results include non-cash pretax asset impairment charges of $3.2 million in 2017 compared to $1.2 million in 2016. Excluding these charges, adjusted operating income for the fourth quarter was $7.3 million, up $14.3 million from the adjusted operating loss of $7.0 million in 2016 (see Note 1). Net loss for the fourth quarter was $0.4 million or $0.01 per diluted share compared to a net loss of $4.9 million or $0.11 per diluted share in 2016. Click Read More below for additional information.

For the fifth consecutive year, Midland Paper will be a co-sponsor for Inkjet Summit 2018 to be held April 9-12 in Ponte Vedra, FL. The Inkjet Summit is an invitation-only, hosted event designed for senior managers and business executives who want to understand how inkjet technology trends, software, consumables and finishing solutions will impact their businesses and help them shape their strategies for the future. During the event, David Field, Midland Paper’s Senior Business Manager Inkjet Technologies, will present a ‘Case Study’ illustrating effective print media options across various production inkjet platforms. “The production inkjet equipment market continues to expand with OEM press announcements unveiled at a rapid rate, including a whole new wave of sheet fed inkjet options. In addition, new OEM inks are being developed for web and sheet fed configurations which can add to the complexity for printers who are aiming to make an inkjet equipment investment,” said Field. Click Read More below for additional information.

Subject to Bankruptcy Court approval, a joint venture composed of the holders of the Company's 8.0% Second Lien Secured Notes due 2021 and Great American Group, LLC and Tiger Capital Group, LLC will acquire the inventory and certain other assets of the Company. A hearing by the Bankruptcy Court to approve the sale and wind-down of the Company's operations is scheduled for April 18, 2018. Bill Tracy, President and Chief Executive Officer, said, "While we are disappointed by this outcome and tried very hard to identify bidders interested in operating the business as a going concern, we are committed to working constructively with the winning bidder to ensure an orderly wind-down of operations that minimizes the impact of this development on our associates, customers, vendors and the communities we serve. We are incredibly grateful to all of our associates for their dedicated service to Bon-Ton and to our millions of loyal customers who we have had the pleasure to serve as their hometown store for more than 160 years." Click Read More below for additional information.