"Each of our businesses delivered top line growth in the second quarter, overcoming currency headwinds and global capacity constraints as we ramp-up our new U.S. filtration capacity. Customer qualification of this filtration facility continues to progress well and start-up costs of $3 million in the quarter were in line with projections. Bottom line results also reflected a timing lag as we implement selling price increases to offset the rise in input costs in the first half of the year," said John O'Donnell, Chief Executive Officer. "With our strong financial position and continued success in targeted categories like filtration, performance materials and premium packaging, we remain confident about future investment opportunities for organic and strategic growth that can deliver value for our shareholders."
Companies in the pressure-sensitive labeling industry have announced a new global industry-wide consortium, CELAB: Creating the Circular Economy for Labeling. UPM Raflatac is acting as one of the key collaborators in CELAB to boost matrix and liner recycling in the pressure-sensitive labeling industry. The consortium aims to facilitate collaboration between companies from around the world and across the supply chain to drive progress on and promote solutions for matrix and release liner recycling.
“Our RafCycle recycling service has been developed over the last 10 years and it gives label release liner waste a new life as release liner, face papers, magazine paper and composite material. By bringing our long experience to CELAB, we aim to drive the industry’s shift towards the circular economy together with multiple players in the value chain. Furthermore, we aim to accelerate RafCycle development further by strengthening our service offering,” says Juha Virmavirta, Director, RafCycle solutions, UPM Raflatac.
CELAB is designed to facilitate collaboration at a global level and encourage the universal adoption of best practices while fostering regionally appropriate initiatives and cooperation. CELAB’s structure includes a Global Steering Committee and regional branches. The branches are currently in North America and Europe with plans to soon create branches in South America and the Asia Pacific, accommodating differences in recycling capabilities and systems while promoting consistency in messaging and process.
“Collaboration is key to building a circular economy. We will continue to develop our RafCycle partnerships with label printers, brands, waste recyclers and industry associations as an integral part of our overall sustainability approach,” Virmavirta continues.
UPM Raflatac has signed up to the New Plastics Economy Global Commitment led by the Ellen MacArthur Foundation. One of its commitments is to enable the partners of RafCycle™ by UPM Raflatac service to return all their PET and paper release liners.
UPM Raflatac’s RafCycle service has more than 180 partners globally and has expanded in Asia Pacific and North America. UPM Raflatac recently strengthened its expertise and commitment to partners when Andrea Irazabal joined the company to help develop the RafCycle service further.