American Forest & Paper Association Releases October 2020 Containerboard Monthly Report

-Second Quarter Financial Highlights include (all results compared to the second quarter of 2022 unless otherwise noted): *Net income of $111.2 million or $1.90 per diluted Class A share decreased compared to net income of $125.1 million. Net income, excluding the impact of adjustments(1), of $103.8 million decreased compared to net income, excluding the impact of adjustments, of $144.9 million. *Net cash provided by operating activities increased by $71.6 million to $210.8 million. Adjusted free cash flow(3) increased by $70.7 million to a source of $185.5 million.

Smurfit Kappa’s Bag-in-Box division has announced the completion of a significant €12 million investment in a new flexible material production facility at its plant in Ibi, Spain. The new state-of-the-art production facility commenced operations, on a phased basis, earlier this year and will be one of the most advanced Bag-in-Box manufacturing plants in Europe. The investment has resulted in the addition of an extra 4,300 m2 production area which will be equipped with high-tech and advanced machinery which allows for more specialisation in the manufacture of film. The new machinery will allow the plant to complete the full production cycle of Bag-in-Box packaging solutions, from start to finish. This integrated production model means not only quicker and more efficient service to customers, but also a considerable reduction of the environmental impact – up to 21% less estimated CO2 emissions for the current flexible materials portfolio.

The Georgia-Pacific corrugated plant in Bradford, Pennsylvania, will undergo a significant upgrade with an investment topping $34 million. The funding will provide new equipment to modernize the plant’s operations. The upgrades include a new corrugator, two new converting lines, and upgrades to the shipping department, which will help the plant operate more efficiently. Newer converting equipment will improve the plant’s throughput and print capability to better meet customer needs. The plant team will begin preparing the facility for installation in the coming months, with the first equipment expected to be installed in the first quarter of 2023. It will take approximately 12 to 14 months to complete the upgrades.