Zhenyong Liu, Chairman and Chief Executive Officer of Orient Paper, commented, "Our third quarter results largely reflected the impact of a government mandated temporary restriction on production volume that has been in place since November 2016. Total revenue decreased by 10.6% year over year to $33.5 million on the back of a 36.1% drop in overall volume that more than offset the increase in blended average selling prices. Looking ahead, we expect the newly elected Communist Party of China leaders to continue to promulgate rules and regulations on environmental protection that could lead to government-mandated temporary restriction or suspension on paper production from time-to-time, leading to significant changes in pricing and supply/demand balances." Click Read More below for additional information.
Nekoosa, comprised of Nekoosa Coated Products, RTape Corp, and CET Films, announced today the acquisition of Catalina Graphic Films, effective as of March 1, 2018.
Catalina Graphic Films, headquartered in Calabasas, CA with manufacturing facilities in Chicago, IL and Las Vegas, NV, is a leading manufacturer of pressure sensitive products used primarily for printed retail point of purchase advertising and promotion. Nekoosa is making the acquisition to support expanded manufacturing capability, product portfolio expansion, and a national manufacturing footprint.
“Nekoosa is proud to combine its 50 year legacy with the equal 50 year family legacy of Catalina Graphic Films, and create a truly special business that can service our customers with an incredibly broad portfolio of products, services, and capabilities,” said Paul Charapata, CEO of Nekoosa. “I am thankful for the strong support from Sentinel Capital Partners, as we are completing our first acquisition together just four short months into our partnership. This is a win for our employees and customers as we continue to live by our mission of consistently making new and exciting things happen for our business.”
Jeff and Alan Dworman, second generation owners of Catalina Graphic Films, will continue to work with the business to support the integration efforts and help drive growth for the combined organization. “We are thrilled to be partnered with Nekoosa, and are excited to help unlock the growth potential in the combined businesses,” said Jeff Dworman, CEO of Catalina Graphic Films.
“This acquisition is an exciting first step in our partnership with Nekoosa,” said Scott Perry, a partner at Sentinel. “Nekoosa is a leader in the markets they serve, and acquiring Catalina Graphic Films is a natural step towards expanding its leadership position.”