Silgan Holdings Inc. reported first quarter 2017 net income of $23.2 million, or $0.42 per diluted share, as compared to first quarter 2016 net income of $26.6 million, or $0.44 per diluted share. “We are pleased with our first quarter 2017 results, as we reported record adjusted net income per diluted share of $0.62, representing a 37.8 percent increase over the prior year,” said Tony Allott, President and CEO. “As expected, our metal and plastic container businesses benefitted from lower manufacturing costs and improved efficiencies resulting from our recently completed footprint optimization programs. In addition, our metal container business benefitted from a favorable mix of products sold in the current year period. Our closures business performed well as compared to a record quarter in the prior year. We are off to a good start to the year, driven primarily by timing benefits in the quarter, and are excited to welcome the newly acquired Dispensing Systems business into Silgan. As a result of the net impact of the recent acquisition and financing activities, we are raising our full year 2017 estimate of adjusted net income per diluted share to a range of $3.20 to $3.40,” continued Mr. Allott. click Read More below for additional detail
UPM Raflatac is committed to developing labelling solutions with other industry leaders to support brand owners in eliminating unnecessary plastic packaging and achieving their target of 100% reusable, recyclable or compostable plastic packaging by 2025. Reaching these targets requires the cooperation of players on the whole packaging value chain.
Innovative solutions such as the RafCycle recycling programme, thin film materials, wash-off adhesives and label materials containing recycled content are some initiatives UPM Raflatac has undertaken to promote a circular plastics economy.
UPM Raflatac signed the New Plastics Economy Global Commitment among 250 organisations, including many of the world’s largest packaging producers, brands, retailers, recyclers and NGOs. The Global Commitment is led by the Ellen MacArthur Foundation (EMF) in collaboration with UN Environment.
Targets will be reviewed every 18 months and become increasingly ambitious over the coming years. Businesses that sign the commitment will publish annual data on their progress to help drive momentum and ensure transparency.