• Interfor generated $205.0 million of cash flow from operations before changes in working capital, or $3.07 per share, and an additional $24.9 million of cash from reduced working capital. • Capital spending was $36.0 million, including $21.7 million on high-return discretionary projects primarily in the U.S. South. US$96.1 million has been spent on the Company’s Phase II strategic capital plan through December 31, 2020. • Net debt ended the quarter at $(75.4) million, or (7.5)% of invested capital, resulting in available liquidity of $787.5 million.
Stora Enso is introducing its new eco-friendly take-away bowls for food service packaging, PureFiber™ by Stora Enso. The products are free from plastic and PFAS and are designed to help customers replace plastic on-the-go food packaging. The bowls are being brought to market together with the wholesale company Tingstad. The PureFiber™ product range will expand to other food and consumer goods applications.
Stora Enso’s formed fiber products are designed for circularity, meaning that they are renewable, recyclable and biodegradable. The PureFiber™ product line enables a carbon footprint that is approximately 75% lower compared to alternative product materials such as plastic or bagasse. The unique formed fiber technology allows the products to be produced without plastic and PFAS, bringing a sustainable alternative with strong user-qualities to the market.
“Consumers are looking for products designed for more eco-friendly lives,” says Sohrab Kazemahvazi, Senior Vice President, Formed Fiber at Stora Enso. “They want to minimise waste and their carbon footprint and reduce their use of plastic. The formed fiber products we are bringing to market are game changing in the sense that they help strong brands achieve their ambitions in sustainability and the circular economy.”
Stora Enso sells its formed fiber products directly to brand owners and wholesalers. In the Nordic countries Stora Enso cooperates with wholesaler Tingstad, which sells PureFiber™ food bowls directly to customers in the fast-food industry. Tingstad is a family-owned company and the market-leading distributor of disposables and food service products to the HORECA sector in the Nordic countries.
“We strongly believe that PureFiber™ will play an important role in the market conversion from plastic to non-plastic food packaging. We are excited to bring a truly sustainable solution to the market together with Stora Enso,” says Johan Larsson, Purchasing Manager at Tingstad.
PureFiber™ products are produced in Stora Ensos Hylte Mill in Sweden and made of natural wood fibres from sustainably managed forests. Potential applications also include non-food items to replace plastic consumables in agriculture, electronics and consumer and industrial goods packaging.