Verso Corporation reported financial results for the first quarter of 2018, including net sales of $639 million, net loss of $2 million, and Adjusted EBITDA of $41 million. "Verso had a good start in the first quarter of 2018, with sales revenue up 4 percent to $639 million, Adjusted EBITDA (a non-GAAP measure) up 58 percent to $41 million, and Adjusted EBITDA margin up 2.2 percentage points compared to the first quarter of 2017," said Verso Chief Executive Officer, B. Christopher DiSantis. "We continued to grow our specialty papers business, now 24 percent of total revenue, and are seeing the benefits of our SG&A cost improvement initiatives, with an improvement of $8 million versus the first quarter of 2017. Looking ahead, we have positioned Verso well to benefit from improved operating rates and are building a better business." Click Read More below for additional information.
Smurfit Kappa’s Cellulose du Pin Paper Mill in Facture, France is celebrating its 90th anniversary. The mill, which began operating in 1928, quickly established itself as a leading supplier of kraftliner in France and then extended its reach throughout Europe.
The Cellulose du Pin mill produces kraftliner from local maritime pine and recycled fibres and has a strategic location in the heart of the Aquitaine Forest beside a major transport route connecting Madrid, Bordeaux and Paris.
The plant produces 500,000 tonnes of kraft annually. Smurfit Kappa’s paper-based packaging is the packaging of choice for many brands which are seeking a more sustainable, high quality alternative to plastic and it is used widely in both the eCommerce and retail sectors. Kraft paper in particular is a very suitable material for the high-specification digital print used to make brands stand out on the shelf.
Commenting about reaching the milestone, CEO of Smurfit Kappa Cellulose du Pin, Nicolas Le Feuvre, said: “With 90 years of experience behind us, we look forward to the future with confidence. The ingredients for success are there; on one hand we have a group that strongly supports our development with ongoing investment and on the other hand we have the expertise of our talented employees working together to help us reach the highest European standards.”