Multi-Color Corporation Completes Constantia Labels Division Acquisition

Smurfit Kappa has won 21 awards for its forward-thinking and innovative packaging solutions at this year’s Flexographic Industry Association (FIA) UK awards. Since 2013, Smurfit Kappa has received over 130 FIA awards, consolidating its industry-leading position in the packaging industry. Smurfit Kappa’s sustainable packaging solutions received three gold, seven silver, seven bronze and three Highly Commended awards. Their Markham Vale site’s DRO - Operator Vince Ward also took home the highly coveted Student of the Year award, and the site themselves won the Silver award for the Best in Show category.

Sustainable, paper-based frozen food packaging is now a reality! Ahlstrom and The Paper People LLC have codeveloped and launched an innovative and sustainable solution for frozen food packaging. This new line of fully fiber-based, recyclability-certified packaging is specifically designed to replace traditional fossil-based plastic and films for frozen food packaging. “This new package is designed to be used on existing packaging equipment including vertical form-fill-seal, stand-up pouches and SOS style systems,” said Neil Bretl, President for The Paper People. “The package can also be used in flow wrap and bundle wrap applications. We worked diligently to ensure these materials could easily replace traditional non-renewable substrates on existing equipment.”

Sales of $1,103 million increased by $82 million or 8% compared to the same period last year, reflecting the consolidation of results from the Greenpac Mill beginning in the second quarter, improved pricing and sales mix in all four of the Corporation's business segments, and additional sales from recovery and recycling activities due to higher recycled fibre pricing. These benefits were partially offset by lower volumes in our North American operations, and the stronger Canadian dollar which resulted in a less favourable CAD/USD exchange rate. Third quarter operating income stood at $51 million , a slight improvement from $50 million last year. This performance reflects the inclusion of Greenpac in the current quarter, price increases mainly in Containerboard, and lower Corporate activities costs related to lower stock-based compensation expense. These were offset by higher raw material costs, and higher production costs in Containerboard and Tissue, due to freight and logistics, and increased use of outside contracting. Specific items recorded in the current period (please refer to the ''Supplemental Information on Non-IFRS Measures'' section for more details) decreased operating income by $2 million . On an adjusted basis, third quarter operating income stood at $53 million , down slightly from $55 million in the prior year period. Click Read More below for additional information.