Peter Greven and Solenis Sign Exclusive Distribution Agreement

INTERFOR CORPORATION recorded net earnings in Q2’17 of $24.5 million, or $0.35 per share, compared to $19.7 million, or $0.28 per share in Q1’17 and $23.2 million, or $0.33 per share in Q2’16. Adjusted net earnings1 (which takes into account the effects of share-based compensation expense and non-recurring items) in Q2’17 were $28.7 million or $0.41 per share, compared to $22.7 million, or $0.32 per share in Q1’17 and $17.5 million, or $0.25 per share in Q2’16. Adjusted EBITDA1 for the second quarter, 2017 was $77.4 million (or $84.7 million excluding the impact from $7.3 million of softwood lumber duties expense), on sales of $511.4 million versus $60.3 million on sales of $456.8 million in Q1’17. Click Read More below for additional detail.

Appvion, Inc. announced plans to consolidate the majority of the carbonless paper coating and rewinding operations currently performed at its plant in Appleton, Wisconsin, to its integrated pulp and paper mill in Roaring Spring, Pennsylvania, and relocate the Appleton Plant’s sheeting operations to an Appvion-operated facility near the mill. The company expects the transition will begin in January and be completed in the third quarter of 2018. Consolidating Appvion’s carbonless paper manufacturing, rewinding, and sheeting to the Roaring Spring area, where Appvion already produces this product, will help position the company for long-term success by increasing the efficiencies of its manufacturing and logistics operations. The consolidation plan will result in the shutdown of three under-utilized coaters and related rewinding and sheeting equipment at the Appleton Plant and the elimination of approximately 200 hourly and salaried jobs at that facility. Approximately 300 hourly and salaried plant employees will be retained at the Appleton Plant to continue producing the company’s thermal paper products and some carbonless and specialty coated grades. Employment at Roaring Spring Mill and at Appvion’s thermal paper coating plant in West Carrollton, Ohio, will be unaffected by the plan. Click Read More below for additional information.

Resolute Forest Products Inc. reported net income of $268 million for the quarter ended June 30, compared to net income of $6 million in the same period in 2020. Sales were $1,140 million in the quarter, an increase of $528 million from the year-ago period. Excluding special items, the company reported net income of $300 million, or $3.74 per diluted share, compared to a net loss of $22 million, or $0.25 per share, in the second quarter of 2020. The company reported operating income of $406 million in the second quarter, compared to operating income of $6 million in the second quarter of 2020. The improvement reflects higher selling prices ($500 million) in the wood products, pulp and paper segments, offset by the stronger Canadian dollar ($39 million), higher fiber costs ($27 million), and maintenance ($14 million). At $445 million, adjusted EBITDA in the second quarter was $408 million higher than the second quarter of 2020.