Metsä Board Husum folding boxboard capacity expansion starts up

*Reported Results: For the full year 2020, the company recorded earnings from continuing operations of $1.57 per share (diluted), compared with a loss of $2.56 per share in 2019. Current year earnings from continuing operations before income taxes were $353 million, compared to a loss of $261 million in the prior year. Both periods included items management considers not representative of ongoing operations. Cash provided by continuing operating activities was $457 million in 2020, compared with $408 million in 2019. *Segment Operating Profit1: Full year 2020 segment operating profit was $678 million compared to $856 million in 2019. Higher selling prices more than compensated for cost inflation, but were more than offset by the impact of 4 percent lower sales volume and approximately 7.5 percent lower production volume due to the pandemic. Turnaround initiatives, strong operating performance and cost control measures partially offset the impact of lower production levels. *Cash Flows: Cash provided by continuing operating activities was $457 million in 2020, compared with $408 million in 2019. 2020 free cash flow1 was $146 million which exceeded the company’s guidance of more than $100 million free cash flow in 2020.

Ever since Complete Design & Packaging was established 22 years ago in Concord, NC, its business of producing custom corrugated packaging and point-of-purchase displays has flourished due to its excellent customer service, superior quality, and expert investment strategies in the latest technology, all to deliver solutions to its nationwide customers and give the firm a powerful competitive advantage. Its 100,000 sq ft manufacturing site will become even more formidable when Koenig & Bauer delivers its Allpro 145 folder gluer by the end of the year. “Quick turnaround time is key for our customers,” says Keith Furr, general manager at CDP. “We were finding that our post press department was becoming a bottleneck and getting congested as our company grew. We needed a new high speed folder gluer to allow us to respond to our customers’ demands. This acquisition will enhance our existing capabilities. As part of our ongoing dedication to our customers, this significant investment underscores our commitment to delivering the highest quality solutions and meeting the fast turnaround needs of our client base.”

Total packaging papers and specialty packaging shipments in August increased one percent compared to August 2019. They were up three percent when compared to the same eight months of 2019. The operating rate was 85.2 percent, down 2.7 points from August 2019 and down 1.0 points year-to-date. Mill inventories at the end of August increased 4,000 short tons from the previous month and were up 12,000 short tons compared to August 2019.