Georgia-Pacific Makes Approximately $2 Billion in Capital Improvements in 2023

Go into virtually any major grocery, drug, club, or hardware store today, and you almost certainly will come across a package that has been handled by Sterling Contract Packaging, Inc. Sterling CPI, of Moore, SC, is one of the largest providers of contract packaging services in the Southeast, providing complete turnkey solutions—from product and package procurement through to the point of distribution—for non-regulated consumer products.

HEINZEL GROUP continues its commitment to sustainable packaging papers with a major investment of around 140 million euros. Paper machine 11 (PM11) has been converted from publication paper production to corrugated base paper, making it one of the most advanced paper machines in Europe. With the successful conversion of PM10 in 2017 and the commissioning of PM11 in early April, the Laakirchen mill is strengthening its position as a high-performance producer of corrugated base paper made from 100% recycled fibers. The strategic decision to phase out publication paper and focus entirely on corrugated base paper ensures the long-term competitiveness of Heinzelpaper Laakirchen in Upper Austria. PM11 has the capacity to produce up to 470,000 tonnes of corrugated base paper annually, operating at a width of 8.9 metres and a speed of 1,600 metres per minute.

Net sales of $1.1 billion increased 6% on an as reported basis. Currency had a positive impact on total net sales of 1%, or $13 million. As reported, net sales increased across all regions. Net income from continuing operations on a reported basis was $62 million, or $0.33 per diluted share, as compared to net income from continuing operations of $64 million, or $0.32 per diluted share, in the third quarter 2016. Net income in the third quarter 2017 was unfavorably impacted by $24 million of special items, including $9 million of restructuring and other restructuring associated costs, $7 million related to acquisition and divestiture activity and $5 million of tax special items. Net income in the third quarter 2016 included $17 million of special items, including $7 million of charges related to restructuring and other costs associated with our restructuring programs and $9 million related to tax special items. Click Read More below for additional information.