HoustonPoly Announces Price Increase
Our resin suppliers are implementing their fifth increase for the year of 2020. The reasons for this increase are continued strong demand and the rising cost of feedstock.
Subsequently, Houston Poly must increase prices by 6% effective on all orders placed on or after January 18, 2021. Houston Poly reserves the right to limit order quantities for immediate shipment.
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International Paper Reports Third Quarter 2021 Results
HIGHLIGHTS: *Third quarter net earnings (loss) attributable to International Paper of $864 million ($2.20 per diluted share), compared with $432 million ($1.09 per diluted share) in the second quarter of 2021 and $204 million ($0.52 per diluted share) in the third quarter of 2020. Third quarter 2021 net earnings include a net after-tax gain of $350 million ($0.89 per diluted share) on the sale of our Kwidzyn, Poland mill. *Third quarter adjusted operating earnings* (non-GAAP) of $532 million ($1.35 per diluted share) compared with $421 million ($1.06 per diluted share) in the second quarter of 2021 and $280 million ($0.71 per diluted share) in the third quarter of 2020 *Third quarter cash provided by operations of $645 million and year-to-date of $1.9 billion compared with $2.3 billion year-to-date in the same period of 2020. Third quarter 2021 cash generation also includes pre-tax sources of $737 million (net of cash divested) related to the sale of the Kwidzyn, Poland mill and $630 million related to the unwind of timber monetization notes. *Ilim equity earnings of $95 million, bringing year-to-date to $245 million *Debt reduction of $235 million, bringing year-to-date to $1.1 billion *Share repurchases of $212 million, bringing year-to-date to $398 million
Record Investment for O-I Glass in France: €95 Million to Upgrade Plants in Gironcourt and Reims
O-I Glass, Inc announced the company is investing €95 million into two of its French glass packaging production facilities. As a continuation of its modernization investment program, these significant investments aim to upgrade the sustainability, flexibility, and productivity of its operations in Gironcourt-sur-Vraine and Reims. This investment is consistent with O-I's recently updated ESG roadmap which is aligned with our previously announced capital spending plan. In Gironcourt, where the plant recently marked its 120th anniversary, €55 million will be invested in close cooperation with one of its key customers to rebuild a furnace and equip it with innovative GOAT technology (Gas Oxy Advanced Technology). This innovative approach – already successfully implemented last year at the O-I plant in Vayres (France) – uses a mix of gas and oxygen to heat the furnace. In combination with a newly installed heat recovery system to pre-heat raw materials and recycled glass, the new installation is expected to reduce CO2 emissions by up to 18%.