Total Packaging Papers shipments were up 3.0 percent compared to May 2017 but down 0.2 percent year-to-date. Bag & Sack shipments were essentially flat year-to-date, Multiwall shipments were down 3.3 percent, Converting shipments were down 0.4 percent and Food Wrapping shipments were up 3.5 percent. The operating rate for May increased to 94.5 percent from 92.9 percent in April. Inventories were down 3.6 percent since April.
http://afandpa.org/media/news/2018/06/15/american-forest-paper-association-releases-may-2018-u.s.-packaging-papers-specialty-packaging-monthly-report
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For two days every year, the most creative luxury packaging designers managers and designers converge in NYC for Luxe Pack New York. And, for the 13th consecutive year, Neenah Packaging will join these innovators at Pier 92 in Manhattan to show its creative luxury packaging solutions and innovations. (Booth C601.) Inspired by the latest trend colors of the year, Neenah is displaying its growing collection of cosmetics and fragrance packaging and will highlight custom solutions, the results of 1:1 partnerships with corporate clients. Click Read More below for additional information.
Tredegar Corporation announced that it has completed the previously announced sale of its personal care films (“Personal Care Films”) business to affiliates of Fitesa S.A. Commenting on the sale, John Steitz, Tredegar’s president and chief executive officer said, “We believe that in combination with Fitesa, a worldwide leader in nonwoven fabrics, Tredegar’s former personal care business will have improved opportunities for growth.” Cash proceeds from the sale net of transaction costs, purchase price adjustments and transition services are estimated at $45 to $50 million. Net cash income tax costs or benefits relating to the transaction are expected to be negligible. The transaction excludes the packaging film lines and related operations located at the Pottsville, Pennsylvania manufacturing site (“Pottsville Packaging”), which will now be reported within the Surface Protection component of PE Films.
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