Total Packaging Papers shipments were 240,000 tons, 2.5 percent higher than December 2016. Bag & Sack shipments were up 1.3 percent year-to-date, while Food Wrapping shipments were down 6.0 percent over the same period. The operating rate for December 2017 was the second highest of the year at 92.0 percent, while the year-to-date rate was 88.6 percent. Inventories were 165,800 tons, down 4.2 percent since November 2017.
http://afandpa.org/media/news/2018/01/16/american-forest-paper-association-releases-december-2017-u.s.-packaging-papers-specialty-packaging-monthly-report
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Net sales of $1.3 billion increased 8% as reported. Currency contributed $25 million, or approximately 2%, to net sales as compared to first quarter 2020. Net earnings in first quarter 2021 were $106 million, or $0.68 per diluted share, as compared to net earnings of $115 million, or $0.74 per diluted share, in first quarter 2020. The effective tax rate in first quarter 2021 was 34.0%, as compared to 22.2% in first quarter 2020. The current year effective tax rate was unfavorably impacted by legislative and administrative changes to enacted foreign statutes.
Soilfood is processing the fibre-based side streams generated in the production of paperboard from manufacturer Metsä Board, into various soil improvement fibres for local farms. Soilfood has previously used these side streams from Metsä Board's board mills at Kemi and Äänekoski. Now the cooperation has been extended to the Tako mill, located in the centre of Tampere. Metsä Board's cooperation with Soilfood started with a research project initiated in 2015 by the Natural Resources Institute Finland. The study looked at how wood-based fibre sludge had the ability to reduce erosion and nutrients leaching from fields to water bodies. The large-scale use of side streams is part of a new circular economy approach, where raw materials are kept in use as long as possible and existing materials are re-used. The two companies are also working together to develop other new solutions for the beneficial use of existing production side streams. "Our goal is to have zero landfill waste from the processes of our paperboard mills after 2030. Currently, more than 99 per cent of our production side streams are used either as materials or energy.
Novolex®, an industry leader in packaging choice, innovation and sustainability, announced it has acquired the business of B&H Bag Company, a leading manufacturer of paper bags and other products. The B&H business will be a part of the Novolex Duro Bag® business, strengthening Duro‘s customer service through increased production capacity. The family-owned company has one manufacturing plant, located outside of Houston, Texas. “We are pleased to welcome the B&H team into the Novolex family,” said Stan Bikulege, Chairman and CEO of Novolex. “B&H brings a strong line of products and a tradition of customer service excellence that we are proud to add to our organization. The talented and dedicated B&H team will be a great addition to our Duro Bag business.”