Sonoco-Alcore S.a.r.l. announced it will again raise prices for paper-based tubes and cores, effective from shipments beginning on 24th July 2017. "Prices of coreboard continue to rise, driven by fundamental changes in recovered paper markets. As this trend continues, we are forced to keep pace and apply a further increase to our tubes and cores," said Karsten Kemmerling, Director of Sales and Marketing - Tubes and Cores, Europe. "We continue to invest in our operations to generate manufacturing productivity, but this will not cover the significant increase in material costs. The outlook for the second half of this year could well be a further tightening of material availability and inevitably further price increases for our base raw material."
“O-I reported strong second quarter net earnings attributable to the company and adjusted earnings exceeded guidance demonstrating exceptional agility amid elevated market volatility. As expected, our glass shipments increased slightly compared to the prior year period and the benefit of higher selling prices continued to more than offset elevated cost inflation. Strong earnings also reflected solid operating and cost performance supported by O-I’s ongoing Margin Expansion initiatives.”
“Importantly, O-I delivered on key commitments along our transformation journey. The balance sheet is now in its best position since prior to the acquisition of O-I Mexico in 2015. The company recently announced the first U.S. MAGMA greenfield facility at Bowling Green, KY which should commence production mid-2024. Additionally, Paddock has achieved a fair and final resolution of its legacy asbestos liabilities and the 524(g) trust was fully funded as of July 18th, 2022.”
“Overall, O-I is operating very well and is delivering on its transformation commitments which will benefit all stakeholders and continue to create value for our shareholders,” said Andres Lopez, O-I Glass CEO.
Net sales were $1.8 billion in the second quarter of 2022, up from $1.7 billion in the prior year quarter. Unfavorable foreign currency translation impacted sales by $95 million and $11 million of lower sales was due to divestitures. Higher average selling prices contributed $208 million to sales. Shipments (in tons, excluding divestitures) improved approximately one percent while sales declined $1 million due to the net effect of higher sales volume and a slightly unfavorable change in mix. Other sales improved $17 million driven by higher machine part sales.
Segment operating profit was $257 million in the second quarter of 2022 compared to $232 million in the prior year quarter.
details at: https://investors.o-i.com/news-releases/news-release-details/o-i-glass-reports-second-quarter-2022-results