Canadian plastics manufacturer buys Pleasant Prairie building, plans to bring dozens of jobs there

Norbord Inc. reported Adjusted EBITDA of $170 million for the first quarter of 2018 versus $103 million in the first quarter of 2017 and $204 million in the fourth quarter of 2017. The year-over-year improvement is primarily due to higher North American oriented strand board (OSB) prices and shipment volumes, as well as higher European panel prices. The quarter-over-quarter decrease is due to lower North American OSB price realizations and shipment volumes. North American operations generated Adjusted EBITDA of $156 million compared to $102 million in the same quarter last year and $195 million in the prior quarter. European operations delivered Adjusted EBITDA of $18 million versus $6 million in same quarter last year and $12 million in the prior quarter. Click Read More below for additional information.

Tosaf, Inc., a leading global developer and manufacturer of additives, compounds, and color and white masterbatches for the plastics industry, today announced the completion of additional capital investments in its Bessemer City, N.C. plant. The latest commitment of $2 million for a silo system and additional extruders brings the company’s total investment in the facility to more than $20 million. The silos were installed to take advantage of a rail spur that serves the plant. Built in 2016, the facility was designed to accommodate the silo system retrofit, a major part of the enhancements that advance its efficiency and cost-effectiveness. “We now have the needed infrastructure to receive raw materials via rail, which reduces labor and packaging required in our manufacturing processes,” said Tosaf General Manager Chai Tsadaka. “The silos and enhanced production capabilities allow us to better meet short lead times for our rapidly growing customer base. Unlike others, we provide a seven working day or less production order response time.”

Mondi plc confirms that it has entered into an agreement to sell its three Russian packaging converting operations to the Gotek Group for a consideration of RUB 1.6 billion (around €24 million at current exchange rate), payable in cash on completion (the ‘Disposal’). The three packaging converting operations comprise a corrugated solutions plant and two consumer flexibles plants, producing a range of packaging solutions for the domestic Russian market. The loss on the Disposal is expected to be in the range of €70-80 million at current exchange rate.