Mayr-Melnhof Karton AG announces realignment of cardboard and folding box production at the Hirschwang site

Smurfit Kappa’s Mengíbar Paper Mill in Spain is celebrating its 50th anniversary. The mill first opened its doors in 1968 and quickly established itself as a strategic partner for innovative paper solutions. The Mengíbar Paper Mill uses recycled fibres to make high-quality containerboard for corrugated packaging. The mill’s location in Southern Spain puts it in a prime position to serve Smurfit Kappa’s extensive network of corrugated plants. The close integration between the Mengibar Paper Mill and the corrugated plants enables Smurfit Kappa to facilitate customers’ needs at a moment’s notice. With 121 employees, the mill is a key local employer with many families having two and sometimes even three generations working there since the mill opened 50 years ago. Click Read More below for additional information.

The American Forest & Paper Association (AF&PA) has released its Q2 2022 Containerboard Quarterly report. According to the report, total containerboard production in Q2 increased 2% compared to Q2 2021. It was also up 2% when compared to the same 6 months of 2021. New supply of containerboard (domestic production plus imports) was essentially flat compared to Q2 2021, as well as year-to-date. The Linerboard operating rate in Q2 was 94.3%, up 1.5 points from the previous quarter. The Medium operating rate for the quarter was 96%, down 0.6 points from Q1 2022.

2022 Highlights - Net Sales were $9,440 million versus $7,156 million in the prior year. *Net Organic Sales increased 3% from the prior year. *Net Income was $522 million versus $204 million in the prior year. *Earnings per Diluted Share were $1.69 versus $0.68 in the prior year. *Net debt was $5,133 million versus $5,659 million at prior year end. *Year-end net leverage was 3.2x versus proforma 4.6x at prior year end. *New coated recycled paperboard (CRB) mill will support growing demand and extend position as the lowest-cost, highest-quality paperboard producer in North America. Investment of approximately $1 billion over three years will be internally funded with operating cash flow.