“Specifically by segment, our Consumer Packaging division delivered strong sales growth of 6 percent in the quarter, which was largely led by our foodservice products. We continue to be encouraged by the momentum of this division, delivering six consecutive quarters of positive sales growth. Within our Health, Hygiene & Specialties segment we recorded an improvement of 39 percent in operating income as well as a 6 percent improvement in Operating EBITDA, primarily as a result of the Clopay acquisition. Inside our Engineered Materials division, while our March results were weaker than expected, we completed the qualification of alternate and new raw materials and improved our cost position and service to customers. The fundamentals of this business remain strong and we are now better positioned for growth in these attractive markets. Additionally, we continue to be excited about the Laddawn acquisition which has been inspiring new ways for us to look at our core business as a vehicle to enhance growth, as well as, our customer experience.” The net sales decrease of $17 million from prior year quarter is primarily attributed to organic sales decrease of $72 million and a $22 million unfavorable impact from foreign currency changes, partially offset by acquisition net sales of $77 million. The organic sales decrease is primarily attributed to a 3 percent base volume decline and decreased selling price of $5 million. Click Read More below for additional information.
UPM Raflatac is pleased to announce it is the first label material producer to bring a new wood-based polypropylene film material into the market. The UPM Raflatac Forest Film™ label material has been developed in collaboration with UPM Biofuels using UPM BioVerno naphtha, a 100 percent wood-based solution originating from sustainably managed forests.
This innovative film will answer brand owners’ needs to replace traditional fossil-based virgin materials with renewable ones. It offers companies an efficient and impactful way to reach beyond their sustainability goals without compromising on product performance.
“At UPM Raflatac, we support the circular economy by innovating circular labeling solutions, but that is not enough. We are aiming higher by making sure that the raw materials we use are as sustainable as possible. By replacing fossil-based raw materials with renewable ones we can ensure a truly sustainable packaging solution,” says Antti Jääskeläinen, Executive Vice President, UPM Raflatac. “Our Forest Film is a natural step on our journey towards labeling a smarter future beyond fossils.”
UPM Raflatac is leading in sustainable labeling by partnering with different players in the forest and packaging value chain. As one of the signatories of the Ellen MacArthur Foundation’s New Plastics Economy Global Commitment the company is committed to developing alternative, circular and renewable labeling solutions.
UPM is building a more sustainable future beyond fossils by replacing fossil-based, non-renewable materials with renewable alternatives from wood-based biomass. The company uses raw materials efficiently to create new products and services based on wood fibre, biomolecules, residues and side streams.
“UPM Biofuels converts pulp production residue into renewable naphtha, a drop-in raw material for the chemical industry. Replacing fossil raw materials, it brings substantial climate and environmental benefits. This wood-based film is a great example of UPM’s brand promise in action. We help our partners to go beyond fossils with our sustainable innovation,” says Panu Routasalo, Vice President, UPM Biofuels.