Silgan Announces Fourth Quarter and Full Year 2023 Results

Clearwater Paper Corporation announced it will invest $23 million in a new, state-of-the-art facial tissue converting line at its Shelby, North Carolina consumer products facility. Clearwater Paper's Shelby Mill manufactures high-quality private branded bathroom tissue, paper towels, napkins, and facial tissue. The 400-acre facility employs more than 600 people. "Clearwater Paper selected Shelby for its newest facial tissue line due to its proximity to our customers, a growing local skilled workforce, and a history of excellent working relationships with the City of Shelby, Cleveland County and the State of North Carolina," said Clearwater Paper's senior vice president of consumer products, Michael Urlick. "Our investment in a new facial line will enable us to meet growing customer demand, further optimize our network and continue to deliver outstanding quality and service to our customers."

Amelco Industries Ltd is one of the leading suppliers of raw materials and machinery for the manufacture of innerspring mattresses in the south-eastern Mediterranean and Middle East area. The company works hard to ensure that its products are the best they possibly can be – and with Mondi`s support it has now optimised the packaging for its mattress innersprings. With Mondi’s Advantage MF SpringPack Plus speciality kraft paper, the company exceeded customer and logistics expectations, while in addition it has set a new world record in innerspring packing together with Mondi`s Speciality Kraft Paper team. In order to enhance the loading capacity of the containers used during transportation, innerspring units are roll packed. Amelco made its first roll-packing machine more than 25 years ago, while by endorsing new customer needs and expectations, as well as its customers’ feedback, the machine has progressively been evolved to the version that is now been offered on the open market. Costas Georgallis, owner of Amelco Industries Ltd, explains: “We test our machine prototypes in real working conditions – e.g. with technical support from Mondi – and improve them before we release them to our customers who asked us to maximize the number of spring units packed in each roll. Together with Mondi`s speciality kraft paper experts we realised that controlling the paper tension was a major factor in achieving a successful result. We therefore had to use the best and strongest spring pack paper on the market – which is Advantage MF SpringPack Plus from Mondi. To us, there is no other packaging material that can match Mondi`s SpringPack Plus grade for roll-packing as it is the best suitable material to compress and roll-pack the springs in a safe way and without putting them at risk to be damaged.” Click Read More below for additional detail.

HIGHLIGHTS *Fourth quarter net earnings (loss) attributable to International Paper of $107 million ($0.28 per diluted share) compared with $864 million ($2.20 per diluted share) in the third quarter of 2021 and $153 million ($0.39 per diluted share) in the fourth quarter of 2020. Third quarter 2021 net earnings include a net after-tax gain of $350 million ($0.89 per diluted share) on the sale of our Kwidzyn, Poland mill. Fourth quarter adjusted operating earnings* (non-GAAP) of $301 million ($0.78 per diluted share) compared with $431 million ($1.10 per diluted share) in the third quarter of 2021 and $206 million ($0.53 per diluted share) in the fourth quarter of 2020. *Full-year net earnings (loss) attributable to International Paper of $1.8 billion ($4.47 per diluted share) compared with $482 million ($1.22 per diluted share) for full-year 2020. Full-year adjusted operating earnings* (non-GAAP) of $1.3 billion ($3.20 per diluted share) compared with $848 million ($2.14 per diluted share) for full-year 2020. *Ilim equity earnings of $66 million, bringing full-year to $311 million