August 2024 - Midland Paper

Kohl’s Reports Second Quarter Fiscal 2024 Financial Results

Tom Kingsbury, Kohl’s chief executive officer, said, “We have taken significant action to reposition Kohl’s for future growth. However, our efforts have yet to fully yield the intended outcome due in part to a continued challenging consumer environment and softness in our core business.

Nordstrom Reports Second Quarter 2024 Earnings

Nordstrom, Inc. reported second quarter net earnings of $122 million and earnings before interest and taxes of $190 million. For the second quarter ended August 3, 2024, net sales increased 3.4 percent versus the same period in fiscal 2023, and total Company comparable sales increased 1.9 percent.

Consumer confidence inches up in August to highest level in six months

Consumers are feeling more confident even as they grow more concerned about the labor market. The Conference Board’s Consumer Confidence Index rose in August to a better-than-expected reading of 103.3 — its highest reading since February — from an upwardly revised 101.9 in July.

CO-RO Joins Two Sides To Promote Sustainable Soft Drink Packaging

CO-RO is a Danish company with a rich heritage. Together with their local partners around the world, they deliver over 3.5 billion servings of high-quality fruit-based drinks and ice lollies every year. Their beloved brands, including Sunquick, Suntop, Suncola, and Sun Lolly, have become household names, synonymous with quality and great taste.

Metsä Group to focus increasingly on carbon capture

Metsä Group’s production units annually generate around 12 million tonnes of wood-based carbon dioxide, and the company is increasingly focusing on promoting its large-scale capture. “Bio-based carbon dioxide is an important but still untapped side stream that could be harnessed more effectively as the technology and markets develop,” says Kaija Pehu-Lehtonen, who has been appointed the new project director of Metsä Group’s carbon capture project. If carbon capture proves viable, it will provide the forest industry with a new high-volume wood-based raw material that can be used to replace fossil-based materials. “We aim to use Nordic wood in a resource-efficient way and make ever greater use of our production side streams to convert wood into increasingly valuable products,” says Sari Pajari-Sederholm, EVP, Strategy at Metsä Group.

Supremex Releases inaugural ESG Report

Supremex Inc., a leading North American manufacturer and marketer of envelopes and a growing provider of paper-based packaging solutions, announced today the release of its inaugural Environmental, Social and Governance (“ESG”) report. The ESG report, which covers activities for the fiscal year ended December 31, 2023, underlines the Company’s commitment to understand the full scope of its impact on the environment and society before establishing sciencebased targets. “As stewards of the environment, responsible corporate citizens, and advocates for positive change, we recognize the critical role ESG plays in shaping our future,” said Stewart Emerson, President and Chief Executive Officer of Supremex. “A more thorough understanding of our impact in such areas will provide Supremex with the ability to carry out targeted sustainability practices and initiatives that will have a significant positive effect on the environment, our employees and local communities. We are dedicated to being a transparent and accountable organization, and look forward to sharing our progress as we continue along our ESG journey.”

Streamlined Solutions for Local Magazine Printing and Distribution (walsworth.com)

You have a lot on your plate as a publisher of local periodicals like city/regional magazines. Many of these publications require high-end production for a readership that views them as a luxury item. Readers cherish each issue and expect it to arrive on time and in pristine condition. There’s no room for error. Yet the printing and distribution of city/regional magazines is challenging. But that’s not your problem – it’s ours. And as an experienced printer and distributor of geographic-based publications, we have some advice.

Karl Achleitner Appointed COO of HEINZEL GROUP

The Supervisory Board of Heinzel Holding GmbH is pleased to announce the appointment of Karl Achleitner (MEng, MBA) as Chief Operating Officer (COO) of Heinzel Holding, effective September 2, 2024. Achleitner will join the top management team of HEINZEL GROUP, alongside CEO Sebastian Heinzel. Karl Achleitner (born 1977) brings extensive industry experience to his new role. He began his career at the Laakirchen paper mill in Austria, training as a paper technician in the 1990s. He later served, amongst other roles, as assistant to the production manager on Laakirchen’s PM10 from 2002 to 2007. Achleitner's career then took him to the United Kingdom (Aylesford Newsprint Ltd. 2007-2011) and Australia (Orora Paper 2011-2018). Most recently (2018-2024), Achleitner held the position of Senior Vice President Operations Paper at Progroup Paper in Germany, being responsible for the company’s containerboard machines as a member of Progroup AG’s executive management team.

Ad Market Jumps 14% In July, Strongest Yet In 15-Month Expansion (mediapost.com)

At a time when some industry insiders have begun ruminating about the possibility of another downturn, the U.S. ad market got its third quarter off on a very high note, posting a nearly 14% year-over-year expansion in July. Significantly, that compares with a nearly 7% expansion for the same month a year ago, indicating the double-digit gains aren't about easy comps, but signal material growth. Whether the data from Guideline's just-refreshed U.S. Ad Market Tracker proves to be more of a lagging indicator, is not clear, but July 2024 also represents the 15th consecutive month of marketplace expansion, and is the best one since the U.S. ad market pulled out of a mini recession.

‘Surfer’ Magazine Publishes Its First Print Issue In 5 Years (mediapost.com)

Surfer Magazine, the iconic title that served the surfing community for 60 years, is back in print. The publication put out its first print edition in four years, a limited edition of 50,000 copies. The cover of the issue features world champion surfer Kelly Slater, who also contributes copy to the magazine. Jake Howard is the editor of the new Surfer.

Postmedia Completes Acquisition of Saltwire Network

Postmedia Network Inc. reported it has successfully closed its acquisition of certain businesses and assets of Saltwire Network Inc. and The Halifax Herald Limited (together, “Saltwire”). “We are delighted to welcome these outlets into the Postmedia family while preserving their vital roles within the community,” said Andrew MacLeod, President and Chief Executive Officer of Postmedia. “We are grateful to those who collaborated with us in developing a more sustainable model for these publications. Our industry has experienced monumental transformations and continues to face significant challenges, necessitating our adaptation. Through this acquisition, we are not only broadening our reach but also reinforcing our commitment to quality journalism and community engagement.”

Join our Webinar on Intensified Forestry

Forestry practices have been intensified for centuries to meet the growing demand for forest products. Today, the challenge is to balance this increasing demand with the urgent need to protect our forests. The Forest Stewardship Council (FSC) is exploring ways to ensure that intensified forestry not only boosts productivity but also delivers long-term environmental and social benefits. FSC is working to uncover the broader effect of plantation forestry. With support from an advisory group that includes members from FSC International, FSC South Africa, and FSC Australia & New Zealand, the project aims to understand how FSC-certified intensified plantations improve the lives of local communities and create lasting environmental and economic benefits that ripple across the entire landscape. Register for the webinar at: https://fsc-int.zoom.us/meeting/register/tZcudeyqrj0rEtC7F0vzrJWmX9Zk8aPWWxP7#/registration

International Paper Names Tom Hamic To New Leadership Role

International Paper announced its Board of Directors elected Tom Hamic to a newly created role: Executive Vice President and President of North American Packaging Solutions, reporting to CEO Andy Silvernail. Effective September 1, Hamic will be responsible for leading the company's Container and Containerboard businesses in North America. "Tom is a strategic and effective leader with a long track record of success," said Silvernail. "The Board and I are confident he will lead the team well as we work together to deliver excellence for our customers and profitable growth for our shareholders."

Gannett Announces Commitment Letter to Secure New Credit Facility to Refinance Existing Debt

The commitment letter provides for a new senior secured credit facility with funds managed by affiliates of Apollo of up to $900 million, to be comprised of an initial term loan facility of approximately $675 million, to be funded at the time of closing, and a delayed draw term loan facility of approximately $225 million, which will be available at the Company’s discretion at closing and during the six months following closing, subject to certain customary funding conditions. Net proceeds from the Term Loan Facility will be used to repay in full the outstanding principal of the Company’s five-year senior secured term loan facility maturing October 15, 2026, to purchase or redeem the 6.0% first lien notes due November 1, 2026 and to repurchase for cash up to 50% of the outstanding 2027 Notes. The Term Loan Facility will mature five years after the closing date and will bear interest at an annual rate equal to SOFR plus a margin of 5.0% with a floor of 150 basis points.

Canadian rail decision is a win for companies, union leader says

A decision obliging more than 9,000 Canadian rail workers to stay on the job is a win for the railways and could impact bargaining in other federally regulated sectors like aviation, the head of a Canadian rail workers' union told Reuters. Paul Boucher, president of the Teamsters Canada Rail Conference, also said the union would work with other labour groups as it mounts a legal challenge to a Saturday decision that halted work stoppages at the country's two largest railways and imposed arbitration. While the Teamsters will obey the order to return to work, the union has warned it could lead to the imposition of future contracts, eroding workers' bargaining power. The decision comes as Air Canada pilots (AC.TO), opens new tab press for a new contract and can commence job action as early as mid-September if there is no agreement with the country's largest carrier.

Stora Enso: Numerous measures launched following the environmental violation in Finland

An environmental violation was discovered at a Stora Enso harvesting site on Thursday 15 August, in Kainuu, Finland. The violation is being investigated as a serious nature conservation crime. Hans Sohlström, President and CEO of Stora Enso, says the Company took immediate action as soon as it became aware of the violation: "It is important that the negligence at Hukkajoki river in Kainuu came to light. Even the best rule and the most important principle is worthless if it is not applied in practice. We have already initiated a number of changes to ensure that nothing like this can happen again," says Hans Sohlström. Stora Enso has suspended harvesting in all areas throughout Finland where there are restrictions under the Water Act, the Forest Act or the Nature Conservation Act. Harvesting has been suspended until the operational guidelines, harvesting plans and risks related to these sites have been reassessed. Any non-compliance that may be detected will be assessed in cooperation with the authorities.

UPM receives platinum in the EcoVadis responsibility assessment

EcoVadis has awarded UPM a platinum score based on the company’s sustainability performance in four categories: Environment, Labour and Human Rights, Ethics and Sustainable Procurement. Only one percent of the 130,000 global companies assessed received a platinum rating. UPM scored 81/100 in the Manufacture of Pulp, Paper, and Paperboard industry. “The feedback from Ecovadis, both on strengths and areas of improvement, is extremely valuable and helps us to continuously improve our sustainability performance,” says Sami Lundgren, Vice President, Responsibility, UPM.

Postal Service Announces Pre-Filing Conference To Discuss Proposed Operational Improvements

The United States Postal Service announced it will host a pre-filing virtual conference to discuss its plans to improve mail processing and transportation, and how these improvements will align with proposed refinements within its existing service standards for Mail and Package Products. The Postal Service will consider the comments received during the virtual conference and will thereafter file its formal request asking for an advisory opinion from the Postal Regulatory Commission (PRC). After receiving an advisory opinion from the PRC, the Postal Service will consider the Commission’s opinion and finalize its decision. Central to the virtual conference discussion will be the proposed operational improvements and corresponding refinements to process, transport and deliver all categories of mail and packages through an integrated network without expanding the existing day ranges of service standards, and for some products shortening the current day ranges. These refinements will deliver important benefits to the organization and its customers as the Postal Service continues to implement a more efficient and effective operating model.

AAP StatShot Annual Report: Publishing Revenues Totaled $29.9 Billion for 2023

The Association of American Publishers (AAP) released StatShot Annual for calendar year 2023, estimating that the U.S. publishing industry generated a healthy $29.9 billion in aggregate publishing revenue for books and course materials across print and digital formats. The result is a minor 0.8% decline when compared to final stated numbers for 2022. It is a 6.1% increase over the pre-pandemic figure of $28.2 billion total recorded in 2019. “This year’s report captures an industry that is both resilient and forward-thinking about how people read, enjoy, and learn from works of authorship,” commented Syreeta Swann, Chief Operating Officer, Association of American Publishers. “In addition to the strong numbers for 2023, the report shows positive trends over a five-year period across multiple categories, formats, and channels.”

A New Era For Europe’s Forests Begins

FSC celebrates the entry into force of the European Union's Nature Restoration Law, a major step forward in the effort to restore and protect Europe's forests and natural ecosystems. Effective from 18 August 2024, the Nature Restoration Law sets forth ambitious goals to restore degraded ecosystems throughout Europe. "The implementation of the Nature Restoration Law marks a significant development in Europe’s commitment to environmental stewardship. It represents a significant move towards addressing habitat loss, strengthening ecosystems, and fostering long-term environmental resilience," says Anand Punja, Chief Engagement and Partnerships Officer at FSC International. This landmark legislation is designed to enhance biodiversity, mitigate climate change, and ensure the preservation of Europe’s natural landscapes for future generations.

Stora Enso comments on environmental incident in Hukkajoki, Finland

On Thursday 15 August, an environmental incident was discovered at a Stora Enso harvesting site in Kainuu, Finland, and the incident is being investigated as an aggravated nature conservation offence. Forestry machinery has crossed a river where there is a population of the highly endangered freshwater pearl mussel. Stora Enso takes the matter extremely seriously. The authorities and the company have strict responsibility requirements and comprehensive guidelines for the consideration of freshwater pearl mussel in harvesting operations. Stora Enso is cooperating with the police and other authorities to find out what happened at Hukkajoki. As a result of this and our own investigation, our guidelines and procedures will be refined to ensure that everyone involved in harvesting in valuable natural areas is aware of them in the future. This applies both to Stora Enso employees and to our partners, such as contractors and forest owners.

AAA Daily Fuel Gauge Report for Friday, 8/23/24

August 23, 2024
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National Average Price for Regular Unleaded Current: $3.374; Month Ago: $3.502; Year Ago: $3.845. National Average Price for Diesel Current: $3.718; Month Ago: $3.833; Year Ago: $4.356.

Key Currency Exchange Rates for Friday, 8/23/24

August 23, 2024
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American Dollar to Canadian Dollar = 0.736038; American Dollar to Chinese Yuan = 0.140125; American Dollar to Euro = 1.112109; American Dollar to Japanese Yen = 0.006849; American Dollar to Mexican Peso = 0.051424.

Canadian freight railroads shut down, dealing a potential blow to North America’s economy

Canada’s two major freight railroads have shut their operations, according to management of the two companies, locking out 9,000 members of the Teamsters union who operate the trains and dealing a potential blow to both the Canadian and US economies. Nearly a third of the freight handled by the two railroads — Canadian National (CN) and Canadian Pacific Kansas City Southern (CPKC) — crosses the US-Canadian border, and the shutdown could disrupt operations in a number of US industries, including agriculture, autos, home building and energy, depending upon how long the shutdown lasts. “CPKC is acting to protect Canada’s supply chains, and all stakeholders, from further uncertainty and the more widespread disruption that would be created should this dispute drag out further resulting in a potential work stoppage occurring during the fall peak shipping period,” the company said in a Thursday statement shortly after the start of the lockout at 12:01 am ET. “Delaying resolution to this labor dispute will only make things worse.”

Court Resurrects Chrome Users’ Privacy Suit Over Tracking (mediapost.com)

Siding against Google, a federal appellate court on Tuesday revived a privacy lawsuit brought by Chrome users who said the company wrongly gathered information about their web-browsing activity. In a unanimous 23-page decision, a three-judge panel of the 9th Circuit Court of Appeals reversed U.S. District Court Judge Yvonne Gonzalez Rogers's determination that the plaintiffs consented to Google's alleged practices, which she said were disclosed in various privacy policies. The appellate panel ruled that questions regarding Chrome users' consent to data collection require further analysis, and sent the case back to Rogers for additional proceedings.

PEFC and osapiens partner to advance sustainable forestry and EUDR compliance

The EUDR requires European companies to ensure that their supply chains are deforestation free. It applies to commodities such as cocoa, palm oil, soy, rubber, timber, coffee and cattle, as well as various derived products. The extensive requirements of the EUDR necessitate the collection, processing and preparation of significant amounts of data. osapiens, a leading ESG platform and provider of compliance and sustainability reporting solutions, has developed the osapiens HUB for EUDR, an end-to-end solution that enables organisations to achieve EUDR compliance with maximum automation. PEFC-certified organisations will benefit from the comprehensive features of the osapiens HUB at a special rate. This platform supports companies in maintaining transparent and sustainable supply chains, aligning with PEFC’s rigorous certification standards.

MM Group Results for the 1st Half-Year 2024

• Q2 ahead of Q2 2023 • Half-year financial results below previous year due to pricing • Cash flow significantly improved • Strong volume increase in Board & Paper • For more transparency Packaging from now on reported as two divisions: MM Food & Premium Packaging and MM Pharma & Healthcare Packaging • Solid performance in Packaging divisions • Considerable reduction of carbon footprint vs. 1st HY 2023. Peter Oswald, MM CEO, comments: “The MM Group succeeded in improving its adjusted EBITDA and adjusted operating profit in the 2nd quarter compared to both the previous two quarters as well as last year’s 2nd quarter. The consistent execution of the profit & cash protection programme led to a significant increase in cash flow from operating activities and free cash flow. At the same time, the Group’s financial leverage remained largely constant.

How the World Land Trust Carbon Balanced Paper Program Reduces Illegal Logging and Biodiversity Loss

Illegal logging has devastating consequences for natural habitats and the climate. Research by the University of Leeds, in partnership with World Land Trust, highlights the significant environmental damage caused by illegal logging, including the release of vast amounts of stored carbon dioxide into the atmosphere. In Vietnam specifically - but also in the other three Carbon Balanced-supported World Land Trust projects (Guatemala, Ecuador and Mexico) - illegal logging remains an ever-present threat to both biodiversity and local communities. In Vietnam, illegal logging releases up to 130,000 metric tons of CO2 annually, harming both local ecosystems and contributing to climate change. For example, the Dong Chau-Khe Nuoc Trong forest in Vietnam is home to over 40 vulnerable animal species, including nine endangered and ten critically endangered species, according to the International Union for Conservation of Nature (IUCN).

The Onion Is Back In Print

The Onion is known for its satirical headlines, but the latest news to come out of the Chicago-based publication isn’t a joke: It’s back in print after more than a decade. The Onion is offering 12 monthly print editions for a limited-time price of $60, including a special issue for the Democratic National Convention available for those who subscribe within the next two weeks. The price will normally be $99. Learn more and buy a subscription here.

Playboy To Bring Back Its Print Magazine With Annual Edition

Playboy’s print magazine is being resurrected. Today, PLBY Group, Inc. announced it will return to issuing a print version of its legendary magazine, but this time around on an annual basis, starting with a February 2025 issue. In March 2020, Playboy stopped producing its 66-year-old print magazine, which had been published since 1953, citing the disruptions caused by the coronavirus pandemic as the reason. Along with reviving the print magazine, the company is relaunching its Playmate franchise with a worldwide search for both the 2024 and 2024 Playmate of the Year and as of this week a newly designed website at Playboy.com. This time around, media veteran Mark Healy will be at the helm of Playboy. His resume includes senior roles at GQ, Rolling Stone, and Men’s Journal. The February 2025 issue will make its debut in conjunction with Big Game Weekend and Super Bowl LIX, which will take place on February 9, 2025, at Caesars Superdome in New Orleans, Louisiana.

Macy’s, Inc. Reports Second Quarter 2024 Results

“During the second quarter, we delivered strong earnings performance in a challenging consumer environment,” said Tony Spring, chairman and chief executive officer of Macy’s, Inc. “Our colleagues executed with discipline, supporting gross margin expansion and effective expense control throughout the organization. We are seeing signs of our strategy taking root, including two consecutive quarters of positive comparable sales in Macy’s First 50 locations. We are encouraged by the early traction of our Bold New Chapter and remain committed to returning Macy’s, Inc. to sustainable profitable growth.” Second Quarter Highlights (comparisons are to the second quarter of 2023) *Diluted earnings per share of $0.53 and Adjusted diluted earnings per share of $0.53. *Net sales of $4.9 billion decreased 3.8%. *Comparable sales down 4.0% on an owned basis and down 3.3% on an owned-plus-licensed-plus-marketplace basis.

New FSC Forest Stewardship Standards in Chile for Plantations and Native Forests

FSC publishes two new Forest Stewardship Standards that will further promote sustainable forest management in Chile. The standards both become effective on 15 December 2024. The two published standards include FSC Forest Stewardship Standard for Chile Plantations and FSC Forest Stewardship Standard for Chile Native Forests. These versions of the FSC Forest Stewardship Standards each apply to all ownership types (public, private or other) and all categories of Management Units (including small or low intensity managed forests (SLIMF)). They also include some non-timber forest products.

PEFC publishes ST 1004: certification body requirements for sustainable forest management

“With this new standard, we are fostering the harmonisation of requirements for certification bodies, ensuring consistency in the implementation of PEFC sustainable forest management certification worldwide,” highlighted Marta Martinez Pardo, Certification Programme Senior Manager. As the first of its kind, ST 1004 combines benchmark and international requirements. It sets up international requirements that PEFC national members will adopt within their systems, to be implemented directly by certification bodies. This will bring consistency to PEFC forest management audits conducted around the world.

ATA Truck Tonnage Index Rose 0.3% in July

August 21, 2024
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American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index increased 0.3% in July after declining 1.8% in June. In July, the index equaled 113.7 (2015=100) compared with 113.3 in June. “While July wasn’t a strong month, we see continued evidence that the truck freight market is likely turning a corner, albeit slowly,” said ATA Chief Economist Bob Costello. “Some of July’s small gain was likely due to strong import activity, especially at West Coast seaports. Decent retail sales and factory output growing slightly from a year earlier also helped truck tonnage last month.” June’s decrease was revised down from our July 23 press release. Compared with July 2023, the index decreased 0.9%. In June, the index was down 0.6% from a year earlier.

Amcor publishes Decarbonization Roadmap

Amcor announced the publication of its Decarbonization Roadmap to reduce greenhouse gas (GHG) emissions. Amcor’s targets are aligned with the latest climate science aiming to limit global temperature rise to 1.5 degrees Celsius and validated by the Science-Based Targets initiative (SBTi). Amcor’s Decarbonization Roadmap features “4 + 1” focus areas: 1. Product redesign: Innovating Amcor's product designs to lower their carbon footprint. 2. Recycled content: Increasing the use of recycled materials in Amcor's packaging solutions. 3. Renewable electricity: Transitioning to renewable sources to power its operations. 4. Supply chain collaboration: Partnering closely with suppliers to ensure they meet high sustainability standards and align with Amcor's decarbonization targets. The "+1" area focuses on enhancing operational efficiency through actions such as improving water and waste management, boosting energy efficiency and upgrading equipment.

Pregis Expands Production at Two Facilities to Meet Surging Demand for EverTec Mailers

Pregis®, a leading global manufacturer of protective packaging, mailing and bagging, and flexible packaging solutions, has made significant investments in new production lines at its Bethel, Pennsylvania, and Reno, Nevada facilities to increase capacity for its Pregis EverTec™ Mailer portfolio, with a particular focus on the EverTec Non-Cushioned Mailer. This investment underscores the company's commitment to meeting the growing needs of ecommerce fulfillment and retail industries. "This expansion results from strategic planning and determined readiness to meet surging ecommerce and retail demands for fiber-based, curbside recyclable mailers. Upgrading our existing facilities with new production lines means widening our footprint and making it easier to provide our most popular mailing solutions to customers nationwide," explains Stephan Carter, president of Pregis Mailing Solutions. "With the latest enhancements in production capabilities, Pregis continues to lead the way in delivering reliable and efficient packaging solutions to meet the evolving demands of the market."

Stora Enso and Enkei Collaborating for a Bright Sustainable Future

Stora Enso proudly teams up with Enkei, providing recyclable packaging materials to protect their sustainable design pieces, made from discarded materials. Innovation with purpose – just the right kind of initiative Stora Enso likes to support. The Swedish startup Enkei needed to find a smart and sustainable packaging solution to protect their handcrafted designer table lamp Reminder (001) – without compromising on sustainability, safety or aesthetics. Packed and protected in a combination of corrugated board and the cushioning material Papira® by Stora Enso – both materials made by Stora Enso – the Reminder (001) can now safely make its way to customers all over the world.

The Role of Paper Ballots, Their Security and How They’re Made

Paper is an important part of the American election process. Paper ballots help provide reliability and security. Paper ballots are made from specialty graphic paper based on detailed specifications from election officials and equipment manufacturers. Paper is an important part of the American election process. The paper industry is proud to make paper ballots and other election materials, including: *“I Voted” stickers *Ballot envelopes *Voter registration forms Instruction materials. Paper ballots help provide reliability and security. According to Verified Voting, in 2024, 95% of voters are expected to use a ballot with a verifiable paper trail. Is a Specific Kind of Paper Used for Paper Ballots? Yes, paper ballots are made based on specifications from election officials and equipment manufacturers. This ensures ballot scanners and ballot marking devices correctly process the ballots.

Futureproof – innovative solutions for flexible packaging

Packaging paper manufacturer Sappi Europe offers the flexible packaging market’s most extensive portfolio of functional papers – with a focus on compelling alternatives to multi-layer material and plastic packaging. The company is further expanding its broad portfolio by adding new products such as Guard ICC, a flexible packaging paper for ice cream cones, Guard OHS a barrier and heat sealable paper for various food and non-food packaging applications and Guard Twist Gloss, a glossy, recyclable wax free barrier paper for twisting applications in the confectionary market. The new products will be presented at Sappi’s booth (Hall 4A, Stand 306) at this year’s FACHPACK (24. to 26. September) in Nuremberg, Europe’s central meeting place for the packaging industry and its users. *The perfect choice for ice cream cones: Guard ICC made for direct food contact *Guard OHS is an attractive complement to our existing high-barrier paper range *For sugar confectionery and chocolate wrappers: Guard Twist Gloss

Sappi to increase efficiency of production processes at its Ehingen mill

Sappi has awarded GAW technologies with an order to increase the efficiency of production processes - in detail to expand the storage of starch as well as a retrofitting / boosting of efficiency for pigment tanks at its Ehingen mill in Germany. The order also includes several safety technical audits of existing silos. The equipment deliveries are scheduled for the end of this year and beginning of 2025. Health, Safety and Environment are very important factors in the strategies and within the success of Sappi. Just recently, Sappi has again achieved Platinum, the highest rating in EcoVadis' sustainability assessment across all three of its manufacturing regions - Europe, North America, and South Africa.

Massive looming Canadian rail shutdown could have economic ripple effects throughout America

August 20, 2024
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Canada’s freight rail network could come to a grinding halt this week, inflicting a huge economic toll after the country’s two largest railroad operators on Sunday issued lockout notices to the Teamsters union that represents nearly 10,000 workers. Failing last-minute deals, both Canadian National Railway and Canadian Pacific Kansas City plan to lock out workers from the early hours of Thursday. It marks the first time that the country has faced a simultaneous labor stoppage at the railroad firms as they normally negotiate their labor agreements in alternate years. The stoppages could cripple the shipment of food grains, beans, potash, coal and timber which form a large part of Canada’s exports, while also impacting shipments ranging from petroleum products to chemicals and cars.

July 2024: Consumers Watch Their Wallets

Consumers exhibited caution with their spending in July. Although there was an increase in sessions for many retailers, this did not translate into higher sales, with order volumes remaining flat. Overall, U.S. retail sales grew modestly by 0.74% month-over-month, indicating that while consumers continue to spend, they are doing so carefully. The July jobs report from the Bureau of Labor Statistics also painted a mixed picture of the U.S. labor market, further highlighting consumer restraint in discretionary spending. Apparel and Outdoor brands outperformed many Home and Specialty retailers, buoyed by the back-to-school season and the Olympics, respectively. Nevertheless, demand appears constrained across verticals. In this challenging environment, refining strategies to enhance customer conversion rates and focus on improving customer lifetime value (LTV) will be crucial.

Plastic extruder to expand in Moore County with $7M investment

Reliance Packaging, LLC, a manufacturer of printed plastic packaging, will invest more than $7.4 million to expand its operations and increase its capacity in the Town of Aberdeen. “This announcement is yet more proof that North Carolina is the best state for business,” said Governor Cooper in a press release. “When companies like Reliance Packaging choose to expand in Moore County, it validates the strength of our manufacturing economy, workforce, and our quality of life.” Operating in Aberdeen since 2014, Reliance Packaging extrudes plastic resin into printed heavy duty plastic bags and film for the lawn and garden market as well as many other outdoor applications. This expansion includes building improvements and two additional multi-layer film extruders for the 180,000-square-foot manufacturing facility.

Royle Printing Hosts Annual Backpack Drive to Support Employees’ Families

As the fall season ushers in new beginnings and the start of a new school year, Royle Printing is excited to continue its cherished tradition of hosting the annual backpack drive for the children and grandchildren of its employees. This year, 52 students, ranging from preschool to high school, have signed up to receive backpacks and gift cards to purchase school supplies for the year ahead. This event has become a staple of the Royle Printing culture, bringing together employees and their families in support of the next generation’s educational journey. "We look forward to this event and tradition every year," said Chris Carpenter, President and owner of Royle Printing. There’s something so exciting about the fall and the start of a new school year. Since I bought the business in the early 2000s, this has always been something I eagerly anticipate. It’s been neat to see the students grow through the years, with some even joining the team as Royle associates. I hope everyone has a prosperous school year ahead."

Dockworker union issues 60-day strike notice ahead of potential walkouts on US East Coast (8/12/24)

August 19, 2024
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Last week, the International Longshoremen’s Association provided a legally-required 60-day strike notice ahead of the expiration of the East Coast dockworkers’ contract at the end of September. More than 40,000 port workers are pressing for strike action against the United States Maritime Alliance (USMX) on October 1 if their demands are not met. A strike by East Coast dockworkers would have a colossal impact not only on the profits of the major maritime shipping companies, but, most significantly, on the entire global capitalist economy. The contract covers 36 ports on the Atlantic and Gulf Coasts of the United States, including the port of New York and New Jersey, the second biggest in the country. The Atlantic and Gulf ports handle over 100 million tons of cargo every year from Europe, South America and Asia.

Canada rejects CN Rail’s request for binding arbitration in labor dispute (8/15/24)

August 19, 2024
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Canadian Labour Minister Steven MacKinnon has rejected a request by Canadian National Railway to initiate binding arbitration in a labor dispute with the Teamsters union, a spokesman for the minister said on Thursday. In a letter to CN Rail's lawyers, MacKinnon said it was the shared responsibility of the company and the union to negotiate in good faith. The letter, sent on Wednesday, was released by the Teamsters. Talks between CN Railway and Canadian Pacific Kansas City - the country's two largest rail companies - and the Teamsters are deadlocked, with each side blaming the other. CN Rail said it was disappointed by MacKinnon's decision, saying he would have to reconsider if the union did not "get serious and engage meaningfully at the negotiating table".

Updates Made to the Manufacturing Standards and Specifications for Textbooks (MSST)

The Manufacturing Standards and Specifications for Textbooks (MSST) Committee has updated the standard for the first time since 2020. Due to shifts in the paper market, leading publishers and printers in the industry were concerned about the potential scarcity of paper meeting current MSST testing specifications. The Committee looked at revising the MSST testing specifications to allow for the use of alternative paper stocks in the future without compromising the durability of textbooks. Following comprehensive testing in 2023/2024, the committee has approved minor adjustments, including a 10% reduction in the Machine Direction Tear specification for 40# and 45# paper grades and a 1-point reduction in the opacity specification for 50# grades. These changes aim to ensure a broader range of paper stocks meet MSST standards while maintaining textbook durability and quality.

Online spending patterns shift in July

According to the latest Signifyd E-commerce Pulse data for July 2024, online spending continued the growth trend seen in June, but shifted toward lower-cost items and alternatives as the fastest year-over-year growth (17.7%) was in orders under $100. Meanwhile, purchases above $500 were nearly flat with 1.5% year-over-year growth. Overall online spending was up 10% year-over-year, and the number of e-commerce orders increased 15% but average order value was down 4% compared to July 2023, which Signifyd said signals caution among consumers.

Consultation on Revision of FSC’s Chain of Custody standards

FSC is revising the Chain of Custody Standards and the corresponding accreditation standard. These standards ensure that products which are sold with an FSC claim originate from well-managed forests, controlled sources, reclaimed materials, or a mixture of these. For more information, please visit the process page and the revision page. The standards included in this consultation are the following: *FSC-STD-40-004 Chain of Custody Certification *FSC-STD-40-007 Sourcing Reclaimed Material for use in FSC Product Groups or FSC Certified Projects *FSC-STD-40-003 Chain of Custody Certification of Multiple Sites *FSC-PRO-40-003 Development of National Group Chain of Custody Eligibility Criteria. As part of the conceptual phase, FSC is conducting a public consultation and would like to invite interested stakeholders to participate. In this conceptual phase, key topics that are proposed to be addressed during the revision and questions for consideration will be included.

What is Recyclability and what are the Benefits?

Recyclability is a crucial aspect of packaging design, referring to the ease with which a material or product can be recycled. This concept differs from recycling, which involves the act of converting waste into new materials. Factors that can impact recyclability include low fibre content, coatings and barriers, inks, varnishes, adhesives, and more. Designing for recyclability is essential in creating a circular economy and has gained significant importance in recent years as businesses and consumers alike strive for sustainable practices.

Graphic Packaging Publishes 2023 ESG Report

Graphic Packaging International, LLC announced its aspiration to achieve Net Zero Greenhouse Gas emissions by 2050 in conjunction with the release of its 2023 Environmental, Social and Governance report. The ESG report outlines the company's Better, Every Day sustainability strategy and plans for achieving its new Better by 2030 sustainability goals designed to drive more circularity in its innovative paperboard consumer packaging, support a safe and inclusive culture, and protect environmental resources. "Our Vision 2030 business strategy marks an increased commitment to sustainability, innovation, and our culture," said Graphic Packaging President and CEO Michael P. Doss. "This vision will advance our path toward global leadership in sustainable consumer packaging and motivate us to deliver products that are better for our customers, better for consumers, and better for our planet."

S&P Global Completes Sale of Fincentric

S&P Global (NYSE: SPGI) today announced that it has completed the sale of its Fincentric business to Stellex Capital Management, a global private equity firm. The transaction does not have material impact to S&P Global and the financial terms of the transaction were not disclosed. The transaction will include local closings in certain jurisdictions, which are expected to occur during the balance of 2024 and into the first half of 2025. Fincentric, formerly known as Markit Digital, became part of S&P Global following the company's merger with IHS Markit in 2022. The transaction follows the announced intent in February 2024 to explore strategic options for the business.

Walmart Releases Q2 FY25 Earnings

Walmart Inc. announces second quarter results with strong growth in revenue and operating income. Globally, eCommerce penetration is higher across all segments. Walmart U.S. comp sales up 4.2%2 . Looking ahead, the Company issues guidance for Q3 and raises its outlook for FY25. For Q3, net sales are expected to grow 3.25% to 4.25% and operating income to grow 3.0% to 4.5% in constant currency (“cc”)1 . For FY25, net sales are expected to grow 3.75% to 4.75% and adjusted operating income to grow 6.5% to 8.0% cc.

Appeals Court Delivers a Mixed Decision in Iowa Book Banning Case (publishersweekly.com)

The U.S. Court of Appeals for the Eighth Circuit on August 9 vacated a December 2023 injunction blocking parts of Iowa's controversial book banning law, SF 496. But the move could only be a temporary setback for freedom to read advocates, with court watchers noting that the decision also rejected the state's core legal argument: that the plaintiffs lacked standing to challenge SF 496 because the placement and removal of books from public school libraries and classrooms is government speech. In a brief but thorough opinion, the appeals court held that the plaintiffs in the case—which include the Big Five publishers led by Penguin Random House as well as four bestselling authors—do have standing to sue, and swiftly dispatched with the state’s government speech argument.

Amcor reports fiscal 2024 results

Amcor Interim CEO Peter Konieczny said: “Amcor finished fiscal 2024 strongly, as the underlying businessdelivered another sequential improvement in volume and earnings growth, with fourth quarter adjusted EPS up9%, ahead of the expectations we set out in April. Volumes returned to year on year growth in the quarter ascustomer demand improved and our teams maintained their outstanding focus on managing costs, drivingstrong margin expansion. Annual adjusted free cash flow was at the top end of our guidance range and up 12%on last year.

Green Bay Packaging Announces the Acquisition of Land in Casa Grande, Arizona

Green Bay Packaging (GBP) is thrilled to announce a land acquisition near Phoenix, Arizona. The approximately 80-acre parcel is located at the NEC/SEC of Bianco and Kortsen Roads in Casa Grande. “We are absolutely thrilled to welcome Green Bay Packaging to Casa Grande,” said Casa Grande Mayor Craig McFarland. “This investment is a testament to our city’s strategic growth and commitment to fostering a vibrant business environment. We look forward to a long and prosperous partnership with Green Bay Packaging.” “Green Bay Packaging is excited to be a part of the great community of Casa Grande Arizona,” said GBP Executive Vice President Bryan Hollenbach. “The surrounding markets are a growing business community that we believe will be a great fit for the future presence of a significant GBP corrugated box operation. We want to thank Newmark and Land Advisors for their help in bringing this important investment to closure.”

Sustainability Summit at Printing United

Engage with industry leaders, explore innovative practices, and deepen your understanding of sustainability in printing. Learn more and register here: https://www.eventbrite.com/e/2024-sustainability-summit-tickets-946355724447?aff=BODemail

Growing Trend of Recycled Pulp in Packaging

In an era where environmental consciousness is at the forefront of consumer and corporate agendas, the packaging industry is undergoing a profound transformation. Around the world industries are strengthening their focus on sustainability and methods to reduce environmental footprints. With the rising awareness of environmental issues like plastic pollution and deforestation, businesses are turning to recycled pulp packaging to meet their needs. Recycled pulp, derived from post-consumer waste paper, offers a sustainable alternative to traditional packaging materials like plastic and virgin paper. By diverting waste from landfills and reducing the demand for new raw materials, recycled pulp helps conserve natural resources.

Drytac launches award-winning Interlam Eco Anti-Graffiti film in North America

Drytac, the leading international manufacturer of self-adhesive materials for the large-format print and signage markets, is delighted to announce the launch of Interlam Eco Anti-Graffiti pressure sensitive overlaminate film in North America. A 1.0 mil (25μ) clear PET laminating film, Interlam Eco Anti-Graffiti is designed to safeguard graphics from vandalism such as graffiti. Coated with a pressure-sensitive acrylic adhesive and shielded by a siliconized PE coated paper release liner, the film ensures exceptional durability and performance in all applications. The film’s robust anti-graffiti features ensure the easy removal of unwanted markings without damaging the substrate or printed graphics, while its strong resistance to dirt and pollutants also maintains pristine graphics over time.

Holmen’s Interim Report January-June 2024

*Operating profit for January-June 2024 amounted to SEK 1 927 million (January-June 2023: 2 875). The decrease in operating profit is due to lower paper prices and the positive impact of income from the sale of surplus electricity the previous year. *Compared with the first quarter, operating profit for the second quarter increased by SEK 39 million to SEK 983 million. The operating margin was 17 per cent (17). *Profit after tax for January-June amounted to SEK 1 487 million (2 261), which corresponds to earnings per share of SEK 9.3 (14.0).

AAA Daily Fuel Gauge Report for Friday, 8/16/24

August 16, 2024
Midland Paper Clips
Misc

National Average Price for Regular Unleaded Current: $3.433; Month Ago: $3.515; Year Ago: $3.873. National Average Price for Diesel Current: $3.756; Month Ago: $3.858; Year Ago: $4.338.

Key Currency Exchange Rates for Friday, 8/16/24

August 16, 2024
Midland Paper Clips
Misc

American Dollar to Canadian Dollar = 0.728201; American Dollar to Chinese Yuan = 0.139597; American Dollar to Euro = 1.099379; American Dollar to Japanese Yen = 0.006755; American Dollar to Mexican Peso = 0.053497.

HMH Expands Award-Winning English 3D Program to Reach Multilingual Learners K-12

Adaptive learning company HMH announced that its award-winning English language development program, English 3D, which is now available for students in grades K-3, provides a complete K-12 solution with expanded reach to support younger learners. “Multilingual learners now make up more than 10% of the US student population and we know this number will continue to grow each year,” said Matthew Mugo Fields, HMH General Manager, Supplemental and Intervention Solutions. “At HMH, we aim to support the unique needs of all learners so they can come into the classroom every day and have the resources they need to thrive. English 3D’s expanded support creates growth for our youngest learners during one of the most critical points in their learning journey.”

Barrier- Bac Premieres in Residential Project with Chandler Properties

After years in the commercial construction industry, XF Films has partnered with Chandler Properties to use Barrier-Bac, an anti-vapor barrier, in the Chandler Reserve Club, a gated residential project development in Florence, SC. This is the first time Barrier-Bac has been used in residential construction. General Manager of XF Films Frank Chen said Barrier-Bac’s debut in residential construction is a win for the Inteplast Group business unit. “The project owner agreed that this would greatly benefit the rental houses in the long run. This is the first time that our commercial grade Barrier-Bac was used on residential houses. The success of this project has opened the door for us to the residential building market, and we are excited about future possibilities,” said Chen. The topography of Florence’s flat terrain puts it at risk for flooding and higher occurrences for hurricanes, according to the city’s official website. In addition, Barrier-Bac is another layer of insulation and supports lower energy costs for residents. While single-family homes often use low-grade poly film with a 0.1 water vapor permeance rate, Barrier-Bac – has a 0.02 water permeance rate, rendering it compliant and superior to alternatives. Along with its advanced water vapor blockage, Barrier-Bac ensures longer structural integrity for homes.

ANDRITZ to supply world’s first fiberboard recycling line to Sonae Arauco, Portugal

International technology group ANDRITZ has received an order to supply a dry fiberboard recycling line to Sonae Arauco’s mill in Mangualde, Portugal. The line will recycle end-of-life fiberboards back into valuable fibers as new raw material for fiberboard production. It will be the first industrial-scale fiberboard recycling line in the world. Paulo Pinto De Sousa, Director at Sonae Arauco, says: “Recycling fiberboards is an important step towards a circular economy. It reduces the consumption of natural resources and energy. We know ANDRITZ as a strong supplier of solutions for the fiberboard industry and are convinced that they are the right partner for our innovative fiberboard recycling project.”

Drytac set for product showcase at PRINTING United Expo 2024

Drytac will carry out live demonstrations of its leading products at Booth SL6089, while its materials will also feature across the stands of partner companies throughout the event. Drytac, the leading international manufacturer of self-adhesive materials for the large-format print and signage markets, is delighted to announce details of its upcoming appearance at PRINTING United Expo 2024. Running from September 10-12 at the Las Vegas Convention Center in Nevada, PRINTING United Expo 2024 will welcome thousands of visitors from both the North American market and further afield across the wider print industry.

Hearst Agrees To Acquire QGenda, a Leader in Healthcare Workforce Management Solutions

Hearst announced it has agreed to acquire QGenda, LLC from investment firms Francisco Partners and ICONIQ Growth. QGenda is a leading provider of healthcare workforce management solutions. More than 4,500 organizations, including leading physician groups, hospitals, academic medical centers and health systems use QGenda to advance workforce scheduling, optimize capacity and improve access to care. The announcement was made by Steven R. Swartz, president and CEO of Hearst; Gregory Dorn, M.D., president of Hearst Health; and Greg Benoit, CEO of QGenda, who will continue to lead the company. Terms were not disclosed. Pending regulatory approval, QGenda will become part of Hearst Health, the healthcare division within Hearst. Hearst Health is currently comprised of market-leading companies FDB, Homecare Homebase, MCG, MHK and Zynx Health. The transaction is expected to close later this year.

Meta Must Face Class-Action Over Inflated Audience Metrics, Court Confirms (mediapost.com)

In a defeat for Meta Platforms, a federal appellate court late last week left in place a recent decision allowing Facebook and Instagram advertisers to proceed with a class-action fraud lawsuit over inflated metrics. Unless the Supreme Court intervenes, Meta must now face a class-action on behalf of all U.S. advertisers who used Facebook's Ad Manager or Power Editor to purchase ads on Facebook or Instagram after August 15, 2014. Meta hasn't yet said whether it will ask the Supreme Court to hear an appeal. The battle between Meta and the advertisers dates to 2018, when business owner Danielle Singer alleged in a class-action complaint that Facebook induced advertisers to purchase more ads, and pay more for them, by overstating the number of users who might see the ads.

Printing Groups Decry Planned Tariffs On Printing Plates (mediapost.com)

Twelve trade groups in the printing and graphic communications industries are urging the International Trade Commission (ITC) to reject new tariffs on aluminum lithographic printing plate imports from Japan and China. “Additional duties on printing plates will lead to increased costs for printers and the businesses they serve, reduce competition in the printing plate market, and threaten the availability of quality printed materials for businesses and consumers alike,” the groups said in a letter to the ITC.

GreenFirst Reports Financial Results for the Second Quarter of 2024

*Q2 2024 net loss from continuing operations was $14.5 million or $0.08 per share (diluted), compared to net loss of $13.4 million or loss of $0.08 per share (diluted) in Q1 2024. Adjusted EBITDA for Q2 2024 was negative $12.1 million compared to negative $3.5 million in Q1 2024. Both the lumber and paper operations had a negative contribution to Q2 2024 as a result of weak market conditions. *Lumber sales volumes in Q2 2024 were lower than Q1 2024 due to the continued drag on lumber demand as housing affordability remains significantly impacted by high mortgage rates. There also remain an oversupply of lumber, which resulted in lower field takeaways. Average realized lumber prices of $637/mfbm for Q2 2024 were also lower than the $644/mfbm pricing realized in Q1 2024. Benchmark prices continued to be under pressure subsequent to Q2 2024. The recent cuts by the Bank of Canada is signalling a reversal in monetary policy. *The valuation provision for lumber and log inventory was increased to $3.2 million from $1.0 million at the end of Q1 2024, generating a $2.2 million charge to lumber cost of sales in Q2 2024. *Our lower duty rate has positively impacted the Company’s earnings and free cash flow since August 1, 2023. The Company’s initial duty deposit rate, totaling 20.23%, remained in effect for almost two years, since the Company’s acquisition of its sawmill and paper mill assets on August 28, 2021. *The Company plans to complete a spin-out transaction of Kap Corporation (“Kap”), the holding company of Kap Paper Inc., which holds all operating assets related to the paper mill operations.

Lecta to attend Fachpack 2024 and boost its presence in the European packaging market

Lecta is set to reinforce its position as a comprehensive supplier of paper solutions by taking a stand for the first time at Fachpack, a leading trade fair for the packaging industry that takes place this year from September 24 to 26 in Nuremberg, Germany. The company will showcase its wide range of innovative products for different sectors like industrial and consumer packaging. Lecta offers an extensive portfolio of papers with multiple applications in the packaging market: *Diva Art: The range of coated and metallized paperboards for rigid packaging, with excellent printability and an exceptional finish, ideal for premium and luxury brands. *EraCup: A functional paperboard whose characteristics make it the ideal choice for hot beverage single-use cups and on-the-go disposable food containers. The product is recyclable in standard paper recycling circuits. *Coral (uncoated), Creaset (one-side coated) and KraFit (brown kraft paper): Three versatile ranges of papers for shopping bags, available in a wide variety of grammages and finishes, offering high resistance and durability. *Adestor: Self-adhesive papers and films to meet the labeling needs of different sectors: beverages, food, logistics and transport, retail, personal care and household.

Find the Perfect Box for Every Need at SupplyLand

Dive into our Stack-Pack-Save Box Event: With over 1,000 sizes available, we’ve got just the box you need—always in stock and ready to ship. Whether you’re looking for Corrugated Kraft Boxes, Tall & Long Boxes, Heavy Duty Boxes, or Multi-Depth Boxes, we cover all your needs. Also explore our White Corrugated Boxes, Literature Mailers, Tab Locking Mailers, and Easy-Fold Mailers. It’s the perfect match for all your shipping needs. Why settle for ordinary when you can work with the team that adores supplies? Exclusive Perks: Spend $150 or more and enjoy savings on shipping plus unique free gifts—it’s not just shopping, it’s adding value to every purchase. More Than Supplies: At SupplyLand, we transform supply procurement into an exhilarating experience. But don't just take our word for it. Try us today and enjoy incredible discounts on every purchase, no matter the quantity.

Postmaster General and CEO Louis DeJoy’s Remarks During the Aug. 8, 2024, Postal Service Board of Governors Meeting

During this quarter we continued our aggressive efforts to stabilize service, implement necessary network initiatives, reduce costs, grow volume and revenue, and lead change both internally and externally. We addressed local pockets of deficient performance and made improvements. We expect these improvements to continue in the coming weeks. Despite significant weather events, service performance for market-dominant and competitive products improved when compared to last quarter — with 60 percent of market-dominant volume delivered early and 95 percent of volume delivered within a day of its service standard. And I’m happy to say, on average, our customers still receive their mail and packages in less than three days. These improvements are attributed to our focused persistence and cross-functional engagement, in areas where performance does not meet our high expectations.

Four Maine Newspapers Are Combined Into One (mediapost.com)

Four Maine newspapers--The Free Press, The Courier-Gazette, Camden Herald and The Republican—are being consolidated into a single title called the The Midcoast Villager. The combined product will be published by Reade Brower, with Kathleen Fleury Capetta serving as co-publisher. “This change is not a cost-saving move; in fact, it is an investment in creating a more robust, impactful product for our region — because we truly believe the health and well-being of our communities is at stake,” Fleury Capetta writes.

Case Study: Customer Achieves Brand Alignment Through Curbside Recyclable Mailing Solution

Retail giant, Amazon, recently delivered a welcome break from the political news media to report on their shift to paper packaging across a significant part of their North American operations. As detailed in a press release on June 20th, 2024, Amazon reported a transition of 95% of their box “filler” from plastic air pillows to a paper void fill solution. This multi-year transition has been enabled by significant investments in their fulfillment operations, the package design engineering teams and sourcing teams. Amazon's leadership in sustainable packaging sets an example for the industry, demonstrating how aligning packaging choices with broader business objectives and sustainability goals can lead to innovative solutions and operational efficiencies. At Pregis, we’re pleased to be an innovation partner with Amazon to support their mission to “Ensure that customers receive their items undamaged, while using as little packaging as possible to avoid waste and prioritizing recyclable materials.” We share in Amazon’s focus on protecting against damage, optimizing packaging material use and designing for circularity (in layman’s terms that means enabling recyclability at end of the products life, so it does not become landfill waste).

Sun Chemical to Introduce Breakthrough Solutions for the Corrugated Market at SuperCorrExpo® 2024

“Sun Chemical’s solutions for corrugated printing are designed to help drive successful recovery and continued growth of the corrugated packaging market,” said Jeremy Teachman, Product Manager–Paper Packaging and Corrugated, Sun Chemical. “Our full line of transformative, sustainable products, coupled with our digital color management tools available across North America, position Sun Chemical as the supplier of choice to help packaging converters achieve their goals.” Water-based Inks and Coatings *Designed to support high value packaging by performing at the cutting edge of the market, Sun Chemical’s SunVisto® Advantage® family of water-based flexographic inks... *Sun Chemical offers coating products to meet any demand in the market... *Sun Chemical’s SunVisto™ Anilox Cleaning Program includes a range of solutions... *SunJet, the preferred ink partner for transformational digital printing...

Are Toilet Paper and Paper Towels Sustainable? (afandpa.org)

Toilet paper and paper towels are common staples in the home. Millions of people across the U.S. rely on paper products. Our industry prioritizes sustainable manufacturing and practices. Below we answer common questions about toilet paper and paper towels. Dive in and explore why they are a responsible choice. How are Toilet Paper and Paper Towels Made in the U.S.? The U.S. tissue industry uses 2 primary inputs to make toilet paper and paper towels.

Strategies for Managing Higher Postal Rates with Effective Marketing

Rising postal rates pose a significant challenge for industries that rely heavily on direct mail. However, increased costs don’t have to spell the end of your direct mail strategy. With a few strategic adjustments and considerations, brands can offset these higher rates while continuing to achieve their marketing goals. Here are some strategies to consider: 1. Optimize Mail Specifications - Postal rates often vary based on the size, weight, and format of your mail. By designing your mail pieces to fit cost-effective dimensions, you can reduce postage expenses. 2. Purchase Paper Directly from Midland - Paper costs can make up a significant portion of your direct mail budget. One effective way to manage these costs is by purchasing paper directly from Midland. 3. Utilize Postal Discounts and Programs - Take advantage of postal discounts and incentive programs offered by postal services. For example, USPS often has promotions that can help reduce costs. 4. Test and Analyze Campaigns - Regularly test various aspects of your direct mail campaigns—such as design, copy, offers, and targeting criteria. Use the results from these tests to refine and optimize future campaigns. 5. Invest in High-Quality Creative - Eye-catching, high-quality designs can significantly boost response rates. Unlike website or email designs, direct mail benefits from professional, compelling visuals and copy.

U.S. Postal Service Reports Third Quarter Fiscal Year 2024 Results

*Operating revenue increase of $191 million to $18.8 billion, extending the growth trend to four consecutive quarters *Transportation expense reductions of $236 million reflect continued progress under the Delivering for America plan *Shipping and Package growth continues to benefit from USPS Ground Advantage. The U.S. Postal Service today announced its financial results for the third quarter of fiscal year 2024 (Apr. 1, 2024 - Jun. 30, 2024). The net loss for the quarter under generally accepted accounting principles (GAAP) totaled $2.5 billion, compared to a net loss of $1.7 billion for the same quarter last year.

Costco Wholesale Corporation Reports July Sales Results

Costco Wholesale Corporation reported net sales of $19.26 billion for the retail month of July, the four weeks ended August 4, 2024, an increase of 7.1 percent from $17.99 billion last year. Net sales for the first 48 weeks were $229.81 billion, an increase of 7.1 percent from $214.53 billion last year.

The New York Times Company Reports Second-Quarter 2024 Results

Meredith Kopit Levien, president and chief executive officer, The New York Times Company, said, “It was a strong second quarter for The Times – one in which we made further progress on the path to grow our subscriber base and become the essential subscription for every curious person seeking to understand and engage with the world. The combination of our world-class news destination plus market-leading lifestyle products means we have complementary offerings in big spaces, each with multiple growth levers fueling multiple revenue streams. Together we believe these make The Times resilient in a changing media landscape and well positioned for continued value creation.”

News Corp Reports Fourth Quarter and Full Year Results for Fiscal 2024

Commenting on the results, Chief Executive Robert Thomson said: “Fiscal 2024 was an outstanding year for News Corp, as we not only delivered robust earnings growth and created substantial shareholder value, but took a significant step to prepare the Company to prosper in the AI age. Our landmark agreement with OpenAI is not only expected to be lucrative, but will enable us to work closely with a trusted, pre-eminent partner to fashion a future for professional journalism and for provenance. Meanwhile, we have begun to take legal steps against AI aggressors, the egregious aggregators, who are predatory in the confiscation of our content. ‘Open source’ can never be a justification for ‘open slather.’

Graphic Packaging International and Zelestra Sign Agreement to Add Renewable Electricity to the European Grid

Graphic Packaging International (“Graphic Packaging” or the “Company”), a global leader in sustainable consumer packaging, today announced it has entered into a virtual Power Purchase Agreement (“vPPA”) in Europe with Zelestra, a client-focused, multi-technology, global renewable energy company.The vPPA supports Zelestra in adding renewable electricity to the European power grid and advances Graphic Packaging’s commitment to reduce its greenhouse gas (“GHG”) emissions by receiving renewable energy attribute certificates[1] generated by the project. The renewable electricity generated by two of Zelestra’s solar projects to be built in Spain – José Cabrera and Socovos II – will have a combined total capacity of 83 megawatts (MWdc). Graphic Packaging expects to receive renewable energy attribute certificates1 corresponding to approximately 86 percent of the solar projects’ output. The agreement is a strategic component in achieving Graphic Packaging’s science-based target to reduce Scope 1 and 2 GHG emissions by 50.4 percent by 20322. It will increase the Company’s purchased renewable electricity in Europe to approximately 70 percent.

Sealed Air Reports Q2 2024 Results

Second Quarter 2024 Financial Highlights: Net sales of $1.35 billion decreased 3% as reported, with EMEA decreasing 5%, APAC decreasing 3% and the Americas decreasing 2%. Net sales decreased $24 million, or 2%, on a constant dollar basis. Price had an unfavorable impact of $41 million, or 3%. Volumes increased by $18 million, or 1%. Net earnings were $98 million, or $0.67 per diluted share, as compared to net earnings of $94 million, or $0.65 per diluted share in the prior year.

Tredegar Reports Second Quarter 2024 Results

Second quarter 2024 net income (loss) was $8.8 million ($0.26 per diluted share) compared to $(18.9) million ($(0.56) per diluted share) in the second quarter of 2023. Net income (loss) from ongoing operations, which excludes special items, was $10.3 million ($0.30 per diluted share) in the second quarter of 2024 compared with $(2.0) million ($(0.06) per diluted share) in the second quarter of 2023. John Steitz, Tredegar’s president and chief executive officer, said, “For the second quarter in a row we recognized a meaningful profit from ongoing operations after suffering a period of losses that began with the second quarter of last year. In addition, results in the most recent quarter improved sequentially.” Mr. Steitz further stated, “We continue to view the bottom of the recent severe down cycle at Bonnell Aluminum as occurring in the third quarter of 2023, which we believe was a residual impact of the pandemic starting in the second half of 2022. Net new orders and sales volume have increased since the apparent bottom. Through the second quarter of 2024, we have yet to see a significant improvement in our orders from the favorable preliminary determinations of duties on imports that were made in March and May by U.S. authorities. However, data available on U.S. import trends of aluminum extrusions appear to indicate the onset of a purchasing shift back to U.S. producers.”

International Paper Strengthens Commitment to Nature with $15.3 Million Investment in Conservation Partnerships

International Paper (IP) reaffirms its dedication to conserving forest ecosystems, nature and biodiversity with a $15.3 million investment to renew strategic alliances with key conservation partners, including the American Forest Foundation (AFF), National Fish and Wildlife Foundation (NFWF), The Nature Conservancy (TNC) and World Wildlife Fund (WWF). These collaborations are pivotal to IP's business strategy and Vision 2030 goal to conserve and restore 1 million acres of ecologically significant forestland. "International Paper's success depends on the sustainability of forests – and so does the future of our planet," said Sophie Beckham, vice president and chief sustainability officer, International Paper. "Renewing these strategic partnerships underscores our commitment to positively impact nature while delivering low-carbon, sustainable, fiber-based products to our customers."

IPG Demonstrates Leadership in Sustainable Packaging in 2023 Annual Sustainability Report

IPG has issued its 2023 sustainability report, highlighting the company’s achievements and strengthening its future commitments to create a positive impact. The report, titled 'Safe, Circular and Responsible,' features IPG's continuing focus on responsible manufacturing, environmental stewardship, and the well-being of its workforce by providing a detailed account of IPG’s sustainability efforts and opportunities for improvement. "IPG is a leading provider of packaging and protective solutions, and an invaluable partner to its customers in diverse end-markets. Sustainability is central to our strategy and is a key pillar in the design of our products, conduct of our operations, and the safety and engagement of our teammates," said Pete Durette, CEO of IPG. "While not easy, our efforts to provide increasingly sustainable products to our customers are both reducing our environmental impact and improving our social impacts, and we look forward to continuing our progress on these commitments in 2024. Our employees, suppliers and customers are vital partners in our efforts, and we thank them for their continued support and partnership."

EFI Announces New Wide Format Pro+ Series Printers and High-performance ProGraphics+ Series Inks

Electronics For Imaging, Inc. announced the availability of two more next-generation printers in its Wide Format Pro Series portfolio. Designed to help sign and display graphics producers be more competitive and grow their business, the EFI™ Pro 16h+ hybrid LED printer and the EFI Pro 30f+ flatbed LED printer deliver high-quality imaging at production speeds and even more printing capabilities – all with a low total cost of ownership (TCO). The 65-inch EFI Pro 16h+ hybrid flatbed/roll-fed LED printer offers outstanding image quality with resolutions up to 1200 dpi and true variable drop grayscale printing with a 5pL drop size, and production-level printing up to 50% faster than the Pro 16h printer. Production quality printing, new front and back media pressure rollers for handling a wider range of media, semi-continuous board feeding, an advanced, four chamber media-platen vacuum system with independent power controls for efficient media hold down and easy transition between jobs, and an embedded Fiery® proServer Core digital front end with FAST RIP acceleration technology make it ideal for higher-demand, faster job turn environments.

Country Pines Invests in Efficiency Boosting HEIDELBERG Prepress Automation (piworld.com)

Country Pines, a family-owned full-service commercial printing company in Shoals, Indiana, recently installed a new Suprasetter 106 CtP from HEIDELBERG. The new Suprasetter, equipped with automated inline plate bending and Auto Pallet Loader, coupled with Prinect Production Manager, has helped increase the company’s productivity and improve throughput. Rather than follow market trends, Country Pines is a company that continues to evolve based on the needs of its customers. According to Chad Haycox, President of Country Pines, “Our philosophy has always been: how do we best serve our customers and how do we deliver in a way that they continue coming back?” The company, who specializes in book production for schools, churches, religious organizations, and other businesses, was previously outsourcing its 40” offset work to a partner company. Needing to keep up with customer demand, Country Pines decided to bring all production in-house by increasing plant size and adding a Speedmaster SX 102 from HEIDELBERG.

Supremex Announces Results for the Second Quarter of 2024

Second Quarter Financial Highlights and Recent Events • Total revenue of $69.3 million, down 3.3% from $71.7 million in the second quarter of 2023. • Envelope segment revenue of $49.5 million, up 0.4% from $49.2 million in the prior year. • Packaging and specialty products segment revenue of $19.9 million, down 11.4% from $22.4 million last year. • Net earnings were $2.0 million, compared to $2.1 million last year.

Sylvamo Quarterly Results Exceed Outlook

Financial Highlights – Second Quarter vs. First Quarter *Net income of $83 million ($1.98 per diluted share) vs. $43 million ($1.02 per diluted share) *Cash provided by operating activities of $115 million vs. $27 million. Management Summary from Chairman and Chief Executive Officer Jean-Michel Ribiéras: "In the second quarter, price and mix were favorable and input costs largely remained stable compared to last quarter. Uncoated freesheet conditions improved in the first half of the year, with year-over-year demand up in Europe and North America and down slightly in Latin America. After successfully completing our heaviest planned maintenance outage quarter of 2024, we have more than 70% of our annual planned maintenance outages behind us."

Clearwater Paper Reports Second Quarter 2024 Results

Second Quarter Highlights: *Continued strong demand in tissue, improved demand in paperboard *Completed acquisition of Augusta paperboard manufacturing facility *Net sales of $586 million, up 12% from the second quarter of last year, primarily driven by incremental sales volume from Augusta *Net loss of $26 million, or $1.55 per diluted share compared to $30 million income, or $1.75 per diluted share in the second quarter of last year

Mativ Announces Second Quarter 2024 Results

Mativ Second Quarter 2024 Highlights *Sales of $523.8 million increased 4.7% sequentially versus Q1 2024 reflecting volume improvement, and decreased 0.5% versus the prior year *GAAP loss was $1.4 million, GAAP EPS was $(0.03), which included organizational realignment, impairment, divestiture and purchase accounting expenses. Chief Executive Officer Julie Schertell commented, "We are pleased to report that our second quarter results reflect strong adjusted EBITDA and margin growth, both on a year-over-year basis, as well as sequentially. This was driven by strong relative net selling price vs. input cost performance, increased volume and improved operating performance. We are confident in our ability to deliver strong adjusted EBITDA improvement on a year-over-year basis for the remaining quarters of 2024.”

Suzano Reports Second Quarter 2024 Results

The pulp market registered another favorable performance during the second quarter of 2024, which reflected in another round of price increase implementations and in sales growth, despite a challenging scenario that emerged in China. The quarter was also marked by the appreciation of the average USD against the average BRL during the period, contributing to an increase in net revenue. Additionally, operational performance remained in line with the plan, with cash cost of production (excluding the effect of scheduled maintenance downtimes) marginally higher than in the previous quarter. This combination of factors resulted in a significant increase in adjusted EBITDA from pulp compared to both 1Q24 (+42%) and the same period of the previous year (+74%). At the paper business unit, sales volume increased chiefly due to seasonality, while prices remained practically stable (+1%). As such, consolidated adjusted EBITDA in the quarter totaled R$6.3 billion, while operating cash flow reached R$4.5 billion.

Sappi announces results for the third financial quarter 2024

Operating performance for the third quarter was substantially above last year with the group delivering EBITDA(2) excluding special items of US$151 million. Despite the third quarter being seasonally the weakest for our business and a sluggish global economy, the underlying profitability, excluding a US$30 million impact of the scheduled maintenance shuts at Saiccor and Somerset Mills, remained steady quarter-on-quarter. The performance was driven by sustained strong market conditions in the pulp segment, offset somewhat by a muted recovery in paper markets. Included in EBITDA was a positive plantation fair value price adjustment of US$3 million.

AAA Daily Fuel Gauge Report for Friday, 8/9/24

August 9, 2024
Midland Paper Clips
Misc

National Average Price for Regular Unleaded Current: $3.454; Month Ago: $3.519; Year Ago: $3.825. National Average Price for Diesel Current: $3.778; Month Ago: $3.866; Year Ago: $4.218.

Key Currency Exchange Rates for Friday, 8/9/24

August 9, 2024
Midland Paper Clips
Misc

American Dollar to Canadian Dollar = 0.727460; American Dollar to Chinese Yuan = 0.139469; American Dollar to Euro = 1.091748; American Dollar to Japanese Yen = 0.006809; American Dollar to Mexican Peso = 0.053074.

McClatchy To Merge With A360Media (mediapost.com)

Newspaper company McClatchy is merging with a360media, a magazine firm, creating a giant that will reach 100 million unique readers per year. The firms, both of which are owned by hedge fund Chatham Asset Management, are profitable, but the merger could triple overall revenue and profits, says Tony Hunter, chairman and CEO of McClatchy, who will hold the same titles at the new entity. “At the highest level, this creates value that, separately, both of us cannot do,” Hunter says. “If we don’t come together, the value of the individual companies is limited in the near-term.”

Sun Chemical to Highlight Leading Printing Solutions at PRINTING United Expo 2024

Embracing the theme ‘Experience. Transformation,’ Sun Chemical will present pioneering digital solutions designed to elevate business innovation across the industry. Visitors of booth #C3031 can explore the multitude of Sun Chemical’s products and services designed to transform printing capabilities, including offerings for direct-to-film, wide and super wide format, digital printing and more. “We are thrilled to showcase our solutions at this year’s PRINTING United Expo,” said Christine Medordi, Sales Manager – North America, Sun Chemical. “A premier exhibition for North America’s printing industry, this show gives us an opportunity to display how our printing technologies meet current market demands and offers us a chance to engage with both new and existing customers. We look forward to demonstrating how our products can drive transformative outcomes for their businesses.”

UPM Raflatac Appoints Brinder Gill to Senior Vice President of Americas Region

UPM Raflatac is excited to announce the appointment of Brinder Gill as the new Senior Vice President (SVP) of the Americas Region, effective August 1, 2024. Currently serving as Director of the Paper Laminates Business Unit for the same region, Gill brings extensive knowledge, experience and enthusiasm to this leadership position. Gill's tenure with UPM Raflatac has been marked by outstanding contributions in various roles, demonstrating his commitment to excellence and commercial success. As the former East Area Sales Director for the Americas, he has a proven track record of driving growth and efficiency. Prior to UPM Raflatac, Gill was the Senior Manager of Global Beauty Category Marketing at Silgan Dispensing Systems. He is highly regarded in the industry for his diverse skill set and strategic acumen.

Kohl’s Donates More Than $2.5 Million to Seven Milwaukee Nonprofits

Kohl’s announced more than $2.5 million in commitments to Milwaukee-area nonprofits through partnership renewals with Acts Housing, Boys & Girls Clubs of Greater Milwaukee, Greater Milwaukee Urban League, Milwaukee Art Museum, Ronald McDonald House Charities Eastern Wisconsin, Safe & Sound, and Zoological Society of Milwaukee. This support furthers Kohl’s commitment to helping improve the health and wellness of families in its hometown. “It’s an honor for Kohl’s to call the Milwaukee area home, and we are proud to do our part in making our communities stronger by providing support to nonprofits helping to improve the lives of local families,” said Tara Geiter, Kohl’s director of community relations. “These organizations do incredible work and we’re looking forward to continuing to make a positive impact together.”

Two Sides, Domtar Advocate Against Greenwashing

As people across the globe become more aware of environmental issues, the desire for green products and services is growing. But with all the environmentally friendly claims made around products these days, how can consumers know which claims are accurate and which fall into the category of greenwashing? According to the Ecolabel Index, there are currently 456 ecolabels in the marketplace, each claiming some sort of sustainability-related benefit associated with a product or service. Consumers are enticed by claims that products are eco-friendly, organic, natural and green, and the number of products purporting these claims is increasing. With eco credentials proliferating and corporations looking to capitalize on sustainability, the practice of greenwashing — making exaggerated, unsubstantiated or outright false claims to convince consumers a product is environmentally friendly — is becoming more common.

Tronox Reports Second Quarter 2024 Financial Results

Chief Executive Officer John D. Romano commented, “Tronox’s second quarter performance was consistent with our previous guidance and demonstrated the continued recovery across both TiO2 and zircon. Our TiO2 volumes increased 8% compared to the first quarter, or 16% compared to the prior year quarter, as we continued to see demand increase across all regions, consistent with seasonal trends. Zircon demand remained relatively stable compared to the first quarter. Pricing for both TiO2 and zircon increased from the first quarter into the second, as expected, partially offset by unfavorable mix. We generated $84 million in free cash flow in the quarter and returned $41 million to shareholders in the form of dividends. “On the operations side, our average pigment plant utilization rate in the second quarter was lower than targeted, driven by short-term challenges relating to ramping up our assets. As a result, we incurred higher costs in the second quarter than anticipated and delivered Adjusted EBITDA at the lower end of our guided range. While this will impact the margins of pigment sold in the third quarter, the operating challenges we experienced during the ramp up in the second quarter are resolved, and our average pigment plant utilization rate for July was in the range of 80%.”

Berry Announces Third Quarter 2024 Results

Kevin Kwilinski, Berry’s CEO said, “Our strong financial results in the quarter were consistent with our expectations and our teams executed very well. Notably, we achieved a 2% increase in overall organic volumes, with each four operating segments delivering low-single digit volume growth. At the same time, we delivered a solid increase in our operating EBITDA margins, which were 110 basis points higher than the previous year. We place a high value on honoring our commitments and excellence in execution. This quarter, I’d like to emphasize our team’s outstanding performance in achieving volume and earnings growth, as well as our progression in reducing our leverage and optimizing our portfolio. We are confident in the strength of our underlying businesses, our customer value proposition, and our execution capabilities. We expect business momentum to continue as we demonstrated in the June quarter, including delivering, low-single digit volume growth in the fiscal fourth quarter and exiting fiscal 2024 at or below our 3.5x leverage target. I am excited by the attainable growth and operational excellence opportunities ahead. We’re focusing on three key efforts: optimizing our portfolio to accelerate growth and deleveraging, implementing our lean transformation, and driving growth by enhancing our commercial excellence.”

Canfor closes Arkansas acquisition

Canfor Corporation is pleased to announce the completion of the acquisition from Arkansas Resolute El Dorado Inc., of its lumber manufacturing facility in Union County, Arkansas. The transaction, previously announced on May 1, 2024, is a strategic complement to the Company's existing regional operations, including its adjacent El Dorado Laminating Plant and its nearby Urbana sawmill. Renamed as the Iron Mountain sawmill, this acquisition will create operational synergies with Canfor's existing facilities, provide vertical integration opportunities with its two glulam plants and build further capacity near customers and markets in the US South.

Amazon.com Announces Second Quarter Results

Net sales increased 10% to $148.0 billion in the second quarter, compared with $134.4 billion in second quarter 2023. Excluding the $1.0 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 11% compared with second quarter 2023. *North America segment sales increased 9% year-over-year to $90.0 billion. Operating income increased to $14.7 billion in the second quarter, compared with $7.7 billion in second quarter 2023. *North America segment operating income was $5.1 billion. Net income increased to $13.5 billion in the second quarter, or $1.26 per diluted share, compared with $6.7 billion, or $0.65 per diluted share, in second quarter 2023.

House Won’t Vote On Kids Safety Bill

The controversial Kids Online Safety Act, which was passed by the Senate earlier this week, reportedly will not move forward in the U.S. House of Representatives. The bill aimed to address potential harms associated with social media use by teens, including depression, eating disorders, and online bullying. The measure would have required tech platforms to guard against those harms when implementing design features such as personalized recommendations, notifications and appearance-altering filters.

Konica Minolta Joins Two Sides To Promote Sustainable Printing

Konica Minolta offers the latest printing solutions, printing systems, services, and related supplies to help its customers better manage their business demands. As for professional inkjet printing, Konica Minolta offers advanced, high-performance solutions for digital production, including embellishment, label and packaging, and inkjet printing, catering to diverse professional printing needs with exceptional quality and efficiency. “Konica Minolta takes its environmental, social and governance responsibilities seriously. We aim to be a robust and innovative company that keeps evolving and contributing to the sustainable growth of society and individuals, and we use an ESG framework to navigate our efforts and obligations. Our activities on climate change, the circular economy, and cutting pollution are integral to our commitment. Konica Minolta is delighted to become a member of Two Sides,” says Malcolm Smith, Category Manager – Professional Print at Konica Minolta Business Solutions (UK) Ltd.

Greif Announces Sale of Delta Petroleum Company

Greif, Inc. announced it has sold Delta Petroleum Company, Inc. (“Delta”), a North American filling and logistics services business, to PSC Group LLC, a North American leader in product handling, site logistics, railcar repair, and sustainability services for the petrochemical, refining, and marine industries. "We are happy to have worked with the PSC Group in a transaction that brings value to both parties," said Ole Rosgaard, President and Chief Executive Officer of Greif. "While Delta is a solid business that exemplifies our Legendary Customer Service mindset, it no longer aligns with our core growth strategy of expansion into resin-based industrial products serving higher-growth and less cyclical end markets. The transaction value reflects the quality of both the business and our people, and the funds from this sale will be used to accelerate our strategic vision.”

Diversey Receives Institute of Hospitality Endorsement for Online Training Courses

Diversey, a Solenis company, proudly announces that the Institute of Hospitality (IoH) has endorsed its 17 online video training courses focused on cleaning and disinfection. These courses, available through the Typsy learning platform, are designed to enhance the skills of housekeeping, laundry, and food and beverage teams in the hospitality industry. Diversey has a long-standing history of serving the hospitality, healthcare, food and beverage, food service, retail, and facility management markets for over a century. With a presence in over 100 countries, we continue to innovate and meet the diverse needs of our global business partners. Partnering with Typsy, Diversey expands its offerings for the hospitality industry, providing an on-demand training portfolio designed to ensure optimal guest experiences. This endorsement recognizes Diversey's rich training expertise, Application Expert teams’ unique capabilities, and best-in-class service attitude in hospitality, and we are proud of this achievement.

AAA Daily Fuel Gauge Report for Friday, 8/2/24

August 2, 2024
Midland Paper Clips
Misc

National Average Price for Regular Unleaded Current: $3.481; Month Ago: $3.501; Year Ago: $3.803. National Average Price for Diesel Current: $3.807; Month Ago: $3.823; Year Ago: $4.103.

Key Currency Exchange Rates for Friday, 8/2/24

August 2, 2024
Midland Paper Clips
Misc

American Dollar to Canadian Dollar = 0.720605; American Dollar to Chinese Yuan = 0.138754; American Dollar to Euro = 1.083126; American Dollar to Japanese Yen = 0.006708; American Dollar to Mexican Peso = 0.052741.

Gannett Announces Second Quarter 2024 Results

"We are pleased to report another strong quarter of financial results. In fact, our operational execution led to year-over-year growth in Adjusted EBITDA and further improvement to our same store revenue trends. Same store revenue trends improved sequentially for the sixth consecutive quarter, and we remain on track and expect to hit the revenue growth inflection point as we exit 2024. Each of our digital revenue streams continued to grow over the prior year, and as a result, total digital revenues now account for 44% of total revenues." "As part of our strategy, we continued to further optimize our capital structure. During the second quarter, we repaid $24.3 million of debt, which combined with our Adjusted EBITDA growth, reduced our first lien net leverage below 2.0x. Equally important, our total net debt fell under $1.0 billion for the first time since the 2019 acquisition of legacy Gannett, and we continued to maintain a strong liquidity position with approximately $99 million in cash on the balance sheet."

A Canadian rail strike is likely in late August, CPKC CEO Keith Creel says (trains.com)

With labor negotiations at a standstill, a Canadian rail strike is likely to occur in late August, Canadian Pacific Kansas City CEO Keith Creel said today (Tuesday, July 30). CPKC and the Teamsters Canada Rail Conference are still talking but remain far apart on a new contract, Creel said on the railway’s second-quarter earnings call. The Canadian Industrial Relations Board has said it will release a decision by Aug. 9 on what commodities are vital to health and safety and must keep moving during a work stoppage. Members of the TCRC, which represents engineers and conductors on CPKC and Canadian National, have voted to authorize a strike that could begin with 72 hours notice once the CIRB decision is issued.

US port strike threats on East and Gulf Coasts (metro.global)

The International Longshoremen’s Association (ILA) contract with maritime employers, represented by the United States Maritime Alliance (USMX), is set to expire on the 30th September 2024 and with under 10 weeks remaining, negotiations have stalled, making a strike increasingly likely. Any strike that potentially impacts all Atlantic and Gulf Coast ports would cause significant disruption to containerised US import and exports, especially with West Coast port workers potentially refusing to handle diverted cargo in solidarity. However, the ILA has a record of resolving contracts without strikes, with the last major disruption occurring in 1977 and had planned to resolve local jurisdiction contracts before starting master contract talks but these negotiations were cancelled due to a dispute at the Port of Mobile. The USMX has expressed a desire to move forward productively but acknowledges that time is running out.

Senate Passes Kids Privacy, Safety Bill (mediapost.com)

The Senate on Tuesday overwhelmingly passed a bill that would impose sweeping restrictions on tech companies' ability to serve content to minors and handle their data. But the measure's fate is uncertain, given that it's expected to face opposition in the House of Representatives. The Kids Online Safety and Privacy Act, approved 91-3, combines two previously separate bills -- the Kids Online Safety Act (KOSA), introduced by Senators Marsha Blackburn (R-Tennessee) and Richard Blumenthal (D-Connecticut), and the Children and Teens’ Online Privacy Protection Act (COPPA 2.0), introduced by Senators Ed Markey (D-Massachusetts) and Bill Cassidy (R-Louisiana).

Exploring the Role of Paper, Paper-based Packaging, and Paper Products in a Circular Economy

In the journey towards sustainable development, the concept of a circular economy has gained significant traction. At the heart of this concept is the idea of reducing waste and continually reusing resources. In the paper industry, circularity is transforming how paper, paper-based packaging , and related products are produced, used, and recycled. Let’s look at the circularity of paper products, focusing on packaging, marketing, and consumer goods, highlighting the industry’s strides and challenges. In the journey towards sustainable development, the concept of a circular economy has gained significant traction. At the heart of this concept is the idea of reducing waste and continually reusing resources. In the paper industry, circularity is transforming how paper, paper-based packaging , and related products are produced, used, and recycled. Let’s look at the circularity of paper products, focusing on packaging, marketing, and consumer goods, highlighting the industry’s strides and challenges.

Sonoco Reports Second Quarter 2024 Results

Summary: *Achieved GAAP net income attributable to Sonoco of $91 million, Adjusted EBITDA of $262 million, diluted earnings per share of $0.92 and diluted Adjusted earnings per share of $1.28 *Generated strong productivity of $51 million during the second quarter and $102 million during the first half of 2024 *Generated $275 million of operating cash flow and $96 million of Free Cash Flow during the first half of 2024 *Entered into an agreement on June 24, 2024, to acquire Eviosys for approximately $3.9 billion; expected to be completed in the fourth quarter of 2024. “Sonoco delivered solid second quarter results with sequential growth in adjusted EBITDA and EPS,” said Sonoco’s President and CEO, Howard Coker. “While the pace of Consumer volume recovery remains muted, we were pleased to see low single digit organic volume improvements in Industrials. Importantly, productivity was $51 million in the second quarter bringing our first half 2024 total to $102 million, well ahead of our full year outlook. Our assertive actions to improve productivity from value creating capital and portfolio simplification has continued to yield results. In addition, we continued executing on our disciplined and dynamic capital deployment strategy by investing in capital and innovation projects while returning capital to shareholders.”

Pactiv Evergreen Reports Second Quarter 2024 Financial Results

Second Quarter 2024 Financial Highlights: *Net Revenues of $1,338 million for the second quarter of 2024 were down 6% compared to $1,426 million in the second quarter of 2023 and up 7% compared to $1,252 million in the first quarter of 2024. *Net Income of $20 million for the second quarter of 2024 compared to a net loss of $139 million in the second quarter of 2023 and net income of $10 million in the first quarter of 2024. Pactiv Evergreen Inc. (“Pactiv Evergreen” or the “Company”) today reported results for the second quarter of 2024. Michael King, President and Chief Executive Officer of Pactiv Evergreen, said, “This past quarter marked a significant milestone in our transformational journey as we announced an agreement to sell our Pine Bluff mill and Waynesville extrusion facility to Suzano. This is a great outcome for Pactiv Evergreen and upon closing of the transaction, we will exit our final remaining mill, allowing us to focus on our core North American converting operations.

Metsä Board’s comparable operating result in 2024January–June was EUR 31 million

April–June 2024 (compared to 4–6/2023): *Sales were EUR 509.8 million (498.2). *The comparable operating result was EUR -0.8 million (27.3), or -0.2% (5.5) of sales. Operating result was EUR -0.7 million (29.5). *Comparable earnings per share were EUR -0.03 (0.05), and earnings per share were EUR -0.03 (0.06). *Comparable return on capital employed was 0.3% (4.6). *Net cash flow from operations was EUR -8.6 million (15.6).

Metsä Group’s comparable operating result in January–June 2024 was EUR 57 million

April–June 2024 (4–6/2023): *Sales were EUR 1,480 million (1,481). *Operating result was EUR -12 million (127). Comparable operating result was EUR -13 million (104). *Result before taxes was EUR -26 million (119). Comparable result before taxes was EUR -27 million (98). *Comparable return on capital employed was -0.3% (5.9). *Net cash flow from operations was EUR -114 million (-19).

Navigator strengthens its commitment to a sustainable future with ESG projects worth 164 million euros

The Navigator Company reaffirms its commitment to promoting efficiency in the use of resources with sustainable investments which, over the last 18 months, have totalled around 164 million euros, around 60% of the total amount allocated. The investment mainly includes projects aimed at decarbonisation, modernising equipment and improving efficiency. These include the new Recovery Boiler in Setúbal - which will reduce direct fossil carbon dioxide emissions by around 136,000 tonnes per year, equivalent to a quarter of the Group's emissions in 2022; the new Tower and Washing Presses in Aveiro; the new biomass Lime Kiln in Figueira da Foz; the conversion of the Lime Kiln in Setúbal to burn biomass; and the new Photovoltaic Plant in Figueira da Foz. In addition, the company has invested in sustainable packaging solutions. After launching a new line of packaging products at the end of 2021 under the gKraft™ brand, the company aims to develop innovative packaging solutions that replace current fossil-based plastic packaging with renewable, biodegradable, recyclable and carbon-neutral products based on endogenous raw materials from planted forests.

Grainger Reports Results for the Second Quarter 2024

Grainger reported results for the second quarter of 2024 with sales of $4.3 billion, up 3.1%, or 5.1% on a daily, organic constant currency basis, and adjusted diluted EPS of $9.76, up 5.2% compared to the second quarter of 2023. "I'm proud of our team for providing a flawless experience and creating tangible value for our customers. Amidst the backdrop of a slow, but generally stable demand environment, we focused on what matters and produced another quarter of solid results," said D.G. Macpherson, Chairman and CEO. "As we look to the second half of the year, I'm confident in our ability to execute well and deliver results for all stakeholders."

Tronox Issues 2023 Sustainability Report

The report details meaningful accomplishments achieved in the past year driving continued progress towards the Company’s previously established sustainability goals and reinforces the unwavering commitment to the Company’s sustainability strategy and purposeful investments in its people, operations and product portfolio. Highlights from the report include: *Reinforcing its carbon emission reduction targets, including reducing Scope 1 and 2 carbon emissions intensity by 50% by 2030 against a 2019 baseline and achieving carbon neutrality by 2050 and reducing Scope 3 carbon emissions by 9% by 2025 and 16% by 2030 against a 2021 baseline. *Commissioning of a 200MW solar project in South Africa, estimated to provide 40% of the Company’s total energy needs in the region and to result in an incremental 13% reduction in Scope 1 and 2 carbon emissions in 2024 relative to the 2019 baseline *Progressing the second largest renewable project in South Africa by entering into a long-term power purchase agreement with NOA Group for ~497GWh of renewable energy, which is expected to reduce Scope 1 and 2 carbon emissions by an incremental 12% globally, once fully implemented in 2027 *Reducing Scope 1 emissions and improving production efficiencies by implementing automated process controls (APCs) for chlorination to reduce coke consumption at the Company’s pigment plants.