*Third quarter 2015 earnings from continuing operations attributable to the Company were $0.11 per share (diluted) compared with $0.37 per share in the same period of 2014. Excluding certain items management considers not representative of ongoing operations, adjusted earnings were $0.57 per share, in line with management guidance. These results compared with $0.75 per share in the same period of 2014 and $0.60 per share on a constant currency basis. *On Sept. 1, 2015, the Company completed the acquisition of the food and beverage glass container business of Vitro, S.A.B. de C.V. The $2.15 billion transaction included operations in Mexico, Bolivia and the U.S. In 2016, the acquisition is expected to contribute $0.30 in earnings per share and generate substantial free cash flow. *Year-over-year volumes were up nearly 4 percent on a global basis. Excluding the acquisition, volumes were on par with prior year. *Segment operating profit declined $49 million, or $9 million on a constant currency basis. The decline was largely attributed to Europe, which faced pricing pressure and elevated engineering activity. Improving operational performance in Asia Pacific more than offset currency headwinds in the region. The acquisition contributed $14 million of segment operating profit in the quarter.
Smurfit Kappa, leader in complete Bag-in-Box® packaging solutions, has expanded its range of packaging solutions for the fresh apple juice market.
Smurfit Kappa Bag-in Box® developed the Thermo Bag to meet the specifications of hot filling which is a commonly used processing method in the drinks industry. During hot filling, the product is pressed, filtered, pasteurised, heated and filled at a high temperature to facilitate sterilisation and then immediately cooled for preservation and taste. This method has the advantage of extending shelf life, removing any harmful microorganisms, reducing costs and simplifying the process.
Hot filling is widely used in the production of fresh (not from concentrate) apple juice which has grown increasingly popular due to its freshness and health benefits. Bag-in-Box® packaging is an attractive option for both consumers and producers because in addition to maintaining the product’s quality it is eco-friendly and cost-efficient.
Smurfit Kappa’s innovative new Thermo Bag is a barrier bag made from special coextruded PE film (MDPE for thermo-resistance and LLDPE for flexibility) and EVOH for oxygen barrier.
“Thanks to their low carbon footprint and extended shelf life, our Bag-in-Box® products offer a more sustainable choice of packaging for many industries and Smurfit Kappa relentlessly continues to develop higher performance materials for the drinks market,” said Thierry Minaud, CEO of Smurfit Kappa Bag-in-Box®.
“The Thermo Bag is bringing competitive advantage to producers and enhanced quality to consumers.”
Smurfit Kappa’s Thermo Bag is a further example of the company’s extensive capabilities in the drinks industry.