*Third quarter net earnings attributable to International Paper of $204 million, compared with $266 million in the second quarter of 2020 and $344 million in the third quarter of 2019. *Third quarter adjusted operating earnings* (non-GAAP) of $280 million compared with $305 million in the second quarter of 2020 and $431 million in the third quarter of 2019. *Third quarter cash provided by operations of $735 million and year-to-date of $2.3 billion compared with $2.7 billion year-to-date in the same period of 2019. *Third quarter debt reduction of $760 million, bringing year-to-date 2020 to $1.1 billion.
Following the takeover by Koehler and its then sister company Euler GmbH & Co. KG the mill saw significant investment. This allowed the company to switch from producing punched card to high-quality colored office and specialty card made from 100% waste paper. It’s clear just from looking at the variety of Euler ColorTech paper available that the paper machine 1 (PM 1) developed into a real all-rounder during its 50-year career.
One unique feature of the PM 1 is that it can quickly switch between colors and paper types, which is due to the short material and water circulation in the machine’s approach flow, according to Holger Palm, Plant Manager at Koehler Greiz. Another special feature of the PM 1 are the two efficient material processing systems and the resulting duplex paper formation. Thanks to these two systems, two different colored paper webs can be couched in the machine. “We are proud, with the help of PM 1, to have established ourselves firmly on the market for high-quality ‘Made in Germany’ recycled paper over the last 50 years,” says Holger Palm.
The market and consumers are increasingly looking for sustainable packaging solutions/products and Koehler is facing ever more intense competition in the area of recycled paper. In light of this, the product range has continued to grow in recent years in order to meet the demand for more sustainable alternatives. Recycled paper made from 100% secondary fiber materials have made Koehler a premium provider of creative board, which is very popular in the craft and office sectors but has also found its way into the packaging industry and even into high-end segments. Not only does the mill at the Greiz site in Thuringia boast a ‘Blue Angel’ environmental label, above all it also impresses with the natural feel and brilliant colors of its paper.
Overall, Udo Hollbach, Manager at the Greiz mill, foresees huge growth in the market for recycled paper: “The need for sustainable packaging looks set to pave the way for our high-quality recycled paper. Our customers appreciate the intense colors, our huge range, and the consistent high quality of our products.”