Net sales of $1.1 billion increased 6% on an as reported basis. Currency had a positive impact on total net sales of 1%, or $13 million. As reported, net sales increased across all regions. Net income from continuing operations on a reported basis was $62 million, or $0.33 per diluted share, as compared to net income from continuing operations of $64 million, or $0.32 per diluted share, in the third quarter 2016. Net income in the third quarter 2017 was unfavorably impacted by $24 million of special items, including $9 million of restructuring and other restructuring associated costs, $7 million related to acquisition and divestiture activity and $5 million of tax special items. Net income in the third quarter 2016 included $17 million of special items, including $7 million of charges related to restructuring and other costs associated with our restructuring programs and $9 million related to tax special items. Click Read More below for additional information.
With its announcement less than a year ago that it was making a major investment in its Kehl mill, the Koehler Paper Group took the first step towards a new paper machine capable of producing papers for flexible packaging. While the workers at the construction site are making major strides and the work is well on schedule, the employees at the company’s headquarters in Oberkirch, Germany, are also busy laying the groundwork to ensure that the sales team can hit the ground running from day one.
As a result of their efforts, Koehler has now won Wilfried Heinzel AG, also known as heinzelsales, as an experienced and extremely qualified partner to market the papers for flexible packaging in France, Spain, and Portugal. Together with heinzelsales, Koehler wants to work on securing the future business success of single-sided coated papers with barrier functions and sealing ability.
The papers for flexible packaging are used in a wide variety of products. These include chocolate and muesli bars; pudding and granola; sugar sticks; bags for instant soups, rice, and pet food; ice cream cones; banderoles and lids for yogurt cups; and much more.
Koehler’s goal is to replace plastic in these flexible packaging materials with paper wherever possible and practical in order to help replace nonrecyclable packaging with paper, a material whose recycling challenges have already been solved in many countries. For this reason, paper is actually the sustainable and environmentally friendly alternative.
Wilfried Heinzel AG is the global sales network of HEINZEL GROUP, based in Vienna, Austria. In partnership with producers from across the globe, the company sells a wide range of paper and pulp grades through knowledgeable local sales specialists in Europe and other regions of the world.