Appvion Announces Antimicrobial Technology

Avery Dennison Corporation announced preliminary, unaudited results for its fourth quarter and full year ended December 30, 2023. Unless otherwise indicated, comparisons are to the same period in the prior year. “Earnings per share were in line with our expectations for the fourth quarter, increasing sequentially for the fourth consecutive quarter,” said Deon Stander, president and CEO. “Volume in both Label Materials and Apparel Solutions improved sequentially, continuing to recover from slow market conditions, largely due to inventory destocking, while our Intelligent Labels platform continues to accelerate. “In Intelligent Labels, we are targeting to deliver significant growth in 2024, as apparel rebounds and we accelerate the adoption of our solutions that help address key industry challenges in logistics, food and general retail, further advancing our leadership position at the intersection of the physical and digital.

All the major shareholder groups of Norske Skogindustrier ASA have indicated their strong support for the consensual recapitalization solution between the Unsecured Committee and the Senior Secured Noteholder Committee reached yesterday. Among the 20 largest shareholders, who control about 38 % of the total number of shares in Norske Skogindustrier ASA, there are already over 75 % support for the recapitalization proposal. At the last general meetings, there have been about 35 - 40 % attendance from the shareholders, where the largest shareholders would constitute more than 90 % of the votes. The transaction will need the support of existing shareholders of Norske Skogindustrier ASA, with a 2/3 majority in an extraordinary general meeting. Among the 20 largest shareholders, there are some nominee accounts, where the shareholder is not known to the public or the company. Such nominee accounts represent almost 20 % of the total number of shares controlled by the 20 largest shareholders, and their vote is therefore unknown to the company. "We are pleased to see that all known major shareholders will support the recapitalization transaction. As repeatedly stated, all alternatives to a consensual solution will entail significantly less value for all parties and rather complicated insolvency processes. If the proposal is successful, the transaction will reduce the group's gross debt from approximately NOK 9 billion to approximately NOK 3 billion and reduce annual cash interest costs from approximately NOK 600 to 200 million", says Mr. Christen Sveaas, chairman and the largest shareholder of Norske Skogindustrier ASA. Click Read More below for additional information.

Norske Skog's gross operating earnings (EBITDA) in the second quarter 2017 were NOK 190 million, an increase from 158 million in the first quarter 2017. The European units contributed less to gross operating earnings than in the first quarter ; whereas, the Australasian units gross operating earnings improved. Operating earnings in the second quarter was NOK -52 million compared to positive operating earnings of NOK 2 million in the first quarter of 2017. Net loss in the second quarter was NOK 546 million compared with a net loss of NOK 274 million in the first quarter 2017. Cash flow from operating activities before net financial items seasonally increased from NOK 175 million in the first quarter 2017 to NOK 226 million in the second quarter 2017. Click Read More below for additional detail.