Clearwater Paper Corporation today announced that its board of directors has authorized the repurchase of up to $100 million of the company's common stock, demonstrating the company's strong balance sheet and positive outlook on its business. This authorization follows the successful completion of the company's previous $100 million stock repurchase authorization, which was implemented by the board in December 2014. Clearwater Paper expects to fund the repurchase through available cash resources.
UPM Raflatac, one of the world’s leading suppliers of self-adhesive label stock, has opened a new slitting and distribution terminal in Johannesburg, South Africa. Operational since December 2018, the new Johannesburg terminal will supply innovative and sustainable paper, film and specials products to label converters in Sub-Saharan Africa.
The grand opening of the new terminal was celebrated on February 7, 2019 with over 100 participants from around South Africa and the neighbouring countries, including customers and local trade media.
Johannesburg is the largest market area with highest growth potential in the region. Located in Germiston, the new terminal features both one and two-metre-wide slitting capabilities. The introduction of two metre wide slitting capability enhances UPM Raflatac’s service offer range to be able to provide even more MEGA (net width) services.
The new Johannesburg terminal is part of UPM Raflatac’s program to improve, adjust and consolidate the company’s operational and service platform in South Africa. Following the completion of the new terminal, the former Johannesburg and Durban terminal operations were relocated to the new facility, while Durban sales office was relocated to a new address in Durban. In addition to the new Johannesburg terminal and the sales office in Durban, UPM Raflatac has terminal operations in Cape Town.
“With the new terminal, we will be better able to meet the customer and market expectations for high quality products with enhanced service. It improves our competitiveness and thus better positions UPM Raflatac as a leading label supplier in South Africa and Africa,” says Ralph Bhengu, Country Sales Manager for UPM Raflatac South Africa.