Solenis to Increase Prices on various Product Lines across the Asia Pacific region

Mactac®, a LINTEC Company, announces it has entered into an agreement to purchase the assets of Spinnaker Coating, LLC, representing $130 million of specialty revenue at a price of $40 million. The acquisition is expected to close on Feb. 1, 2022, and consists of Spinnaker’s manufacturing facility and headquarters based in Troy, Ohio, and North American distribution centers located in Atlanta, Georgia; Chicago, Illinois; Los Angeles, California; and, Vails Gate, New York. Spinnaker will operate as a standalone subsidiary of Mactac. As part of LINTEC, Mactac is one of the largest, most diversified global pressure-sensitive adhesive (PSA) suppliers. Mactac’s acquisition of Spinnaker, which specializes in the customized production and distribution of pressure-sensitive roll label and sheet base materials in North America, creates a one-of-a-kind, world-class specialty labeling company.

For the second quarter ended 30 June 2017, Lecta had revenue of €360.7 million versus €357.6 million in the second quarter ended 30 June 2016, an increase of €3.1 million or +1%. This increase was attributable to: • Lower sales of CWF, Specialties and Purchased Products of €-4.6 million or -1%, from €341.6 million in 2Q2016 to €337.0 million in 2Q2017, resulting from lower sales volumes of 500 metric tons or -0%, 377,000 metric tons in 2Q2017 vs 377,500 metric tons in 2Q2016, and a decrease in average net sales price of -11€/t or -1%, 894€/t in 2Q2017 vs 905€/t in 2Q2016; and • Higher sales of energy of €+7.7 million or +48%, from €16.0 million in 2Q2016 to €23.7 million in 2Q2017, resulting from higher sales volumes of 10,000 MWh or +4%, 271,500 MWh in 2Q2017 vs 261,500 MWh in 2Q2016, and an increase in average sales price of +26€/MWh or +42%, 87€/MWh in 2Q2017 vs 61€/MWh in 2Q2016. The costs of raw materials and consumables used increased by €7.0 million, or +4%, from €182.5 million in 2Q2016 to €189.5 million in 2Q2017, and as a percentage of revenue they increased from 51.0% in 2Q2016 to 52.5% in 2Q2017. The absolute increase was mainly attributable to higher purchased volumes, and an increase in the average consumption prices of pulp of +38€/t and latex from 2Q2016 to 2Q2017. Click Read More below for additional detail.

Paper Excellence announced that it will invest nearly $50 million to upgrade its Crofton mill’s paper operations and towards reductions in its carbon footprint. The investment sees the restart of its C2 paper machine putting over 100 employees back to making paper at the site. Paper operations were recently curtailed due to weakening Chinese paper markets and escalating input costs. “This investment will enhance the development of innovative products that replace banned plastics with renewable paper while significantly reducing carbon emissions,” said Stew Gibson, Chief Operating Officer for Paper Excellence Canada. Gibson said that the Company has been working closely with Provincial and Federal Governments to restore value-added manufacturing jobs at Crofton. “The Government of Canada has contributed $14.3 million through Natural Resources Canada’s (NRCan) Investments in Forest Industry Transformation (IFIT) program and the Government of British Columbia contributed $4.5 million in provincial funds to help make today’s announcement possible” added Gibson. The C2 paper machine will be transformed to produce stronger, water-resistant paper grades which replace single-use plastics, while the investment also reduces natural gas consumption through more efficient use of waste bark fuel in the mill’s boiler.