Containerboard production was down 3.0 percent compared to February 2017 and down 1.1 percent year-to-date. The month-over-month average daily production compared to January 2018 was 3.2 percent lower. The containerboard operating rate was 94.1 percent, or 3.1 percentage points lower than the same month last year. Production for exports was 6.0 percent lower than February 2017 and 8.4 percent lower year-to-date.
http://afandpa.org/media/news/2018/03/16/american-forest-paper-association-releases-february-2018-containerboard-report
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The latest investment is being used to expand the current Grand Rapids facility by adding an additional 55,000 square feet for manufacturing, warehousing and office space. In total, the Grand Rapids facility will now have 205,000 square feet to meet increasing demand for high quality films and support services. Initially, the new structure will house additional custom Windmoeller & Hoelscher (W&H) blown film extrusion lines, with room to add equipment to meet future demands. The dedicated multilayer polyethylene lines are expected to be operational by the end of September. The investment is in addition to the previous $37 million capital expenditure put into that location between 2016 and 2020.
In a deal that expands its position in the food and pet food markets and beefs up its labeling capabilities, flexible packaging supplier ProAmpac has acquired Prairie State Group (PSG), an SQF-certified provider of flexible packaging and labeling services based in Franklin Park, Ill. The financial terms of the transaction were not disclosed. PSG produces a range of SQF-certified and environmentally-friendly flexible packaging and label solutions, including wrappers, pouches, compostable film, roll stock, and pressure-sensitive labels.
Q4 2023 Highlights *Sales of $1,138 million (compared with $1,198 million in Q3 2023 and $1,135 million in Q4 2022); *Operating loss of $(24) million (compared with operating income of $80 million in Q3 2023 and operating loss of $(20) million in Q4 2022); 2023 Annual Highlights *Sales of $4,638 million (compared with $4,466 million in 2022); *Operating income of $40 million (compared with $33 million in 2022); *Net debt1 of $1,882 million as of December 31, 2023 (compared with $1,966 million as of December 31, 2022). Net debt to EBITDA (A) ratio1 of 3.4x, down from 5.2x as of December 31, 2022; *Total capital expenditures, net of disposals, of $46 million in Q4 2023 and $343 million in 2023. The Corporation's 2024 forecasted net capital expenditures of approximately $175 million is unchanged.