HoustonPoly Announces Price Increase

The Covington Paperworkers Union says they have ratified the WestRock offer after a vote Thursday. This means that the union has agreed on a new contract that was presented by union representatives for the papermill's workers. 94 percent of the eligible members voted, with 54 percent in favor for the new contract. It is the first new contract offered to WestRock workers in Covington since 2010.

Packaging leader Smurfit Kappa has launched a new company called Recycling Dual GmbH to help German manufacturers and retail businesses reduce costs and improve their sustainability efforts, in line with updated legislation. Recycling Dual offers an innovative and integrated holistic solution to track the entire life cycle of paper, cardboard and carton packaging. The unique solution highlights duplication which can be removed from the supply chain and reduce costs. For the first time Recycling Dual guarantees to close the full loop for paper-based packaging for its customers. The service provides them with a holistic solution to ensure packaging from their products is recycled through a nationwide collection system. From 2021, Recycling Dual will be the only company in the market with the ability to track the life cycle of paper, cardboard and carton packaging from production through to being recycled. The company was set up in response to a federal law which was enacted last year requiring stricter recycling requirements for all manufacturers and retailers who use consumer packaging as part of their supply chain, especially for e-commerce companies with e-commerce packaging. The law requires businesses to buy licences for the packaging they use, and with costs expected to increase by up to 30% in 2021, this has led to a greater responsibility being placed on businesses to increase their recycling rates. Additionally, failure to comply can result in significant fines.

Highlights: • For the first quarter 2018, the Company recorded earnings from continuing operations of $0.59 per share (diluted). This was on the upper end of management guidance of $0.55 to $0.60 per share. • Net sales were $1.7 billion, an increase of nearly 8 percent compared to the prior year, due to higher prices and favorable currency translation. Total glass container shipments in the first quarter of 2018 were comparable to the prior year quarter, with low-single-digit gains reported in the Americas. • Earnings from continuing operations before income taxes were $135 million, compared with $73 million in the prior year, driven by solid operational performance and non-recurrence of certain expenses in the prior year. Click Read More below for additional information.