Second Quarter Operating Highlights: Consolidated net sales of $823 million in the second quarter of 2017 increased by $38 million, or 5 percent, compared to $785 million for the 2016 second quarter. Revenue growth in the paper and packaging segment resulted from higher prices and volume. The Company's average mill selling price of $661 per ton in the second quarter of 2017 increased by $37 per ton, or about 6 percent, compared to the second quarter of 2016 due to higher domestic and export containerboard prices, higher specialty paper prices and a more favorable product mix. Revenues in the distribution segment increased $8 million, mainly due to higher prices. Operating income of $41 million for the 2017 second quarter decreased by $2 million, or 5 percent, compared to the 2016 second quarter. Click Read More below for additional details.
Pregis, a leading global manufacturer of protective packaging, celebrated production start-up at its new $80 million blown film extrusion facility in Anderson, South Carolina with a ribbon cutting attended by Governor Henry McMaster and industry partners.
“We congratulate Pregis on this $80 million investment that will create 120 new jobs within the Anderson County community. We wish them great success in the Palmetto State and look forward to seeing them grow and prosper for a long time,” said Governor McMaster.
Headed by industry veterans, the 168,000 square foot facility features multiple newly-installed lines, producing the latest engineered films. The films are used downstream to manufacture performance-oriented, flexible packaging solutions for food, CPG, healthcare/medical and industrial applications. The facility will also feature a world-class film laboratory to develop and test materials.
“We believe that this new facility is the most technologically-advanced extrusion facility in North America. The facility has been staffed with technology and market leaders who are focused on developing extruded films that have been engineered to meet market-driven performance requirements,” said Kevin Baudhuin, president and chief executive officer, Pregis.
In keeping with Pregis’ previously announced 2K30 environmental goals, the Anderson facility features the latest in energy-efficiency in manufacturing and other plant functions. Pregis’ objective is to run its businesses in the most sustainable manner possible, so that it improves its carbon footprint, reduces environmental impact, while making significant, positive contributions to people and society.