Supremex Announces Optimization Initiatives in the Packaging Segment

Supremex Inc. (“Supremex” or the “Company”) (TSX: SXP), a leading North American manufacturer and marketer of envelopes and a growing provider of paper-based packaging solutions, announced today optimization initiatives aimed at improving operational efficiency and achieving synergies within its Packaging and Specialty Products segment. These initiatives are expected to result in annual cost savings of approximately $1.5 million once all measures are implemented.

First, the Company is closing its Saint-Hyacinthe facility, acquired as part of the Impression Paragraph Inc. transaction completed earlier this year. Production of packaging products carried out in Saint-Hyacinthe will be transferred to existing packaging facilities in the Montreal area. The facility employs 28 workers, some of which could be relocated within the Company’s existing operations. In connexion with this announcement, Supremex will record a non-recurring restructuring charge of approximately $2.8 million before taxes in its fourth-quarter financial results.

Supremex also announces the departure of Simon Provencher, President of the Packaging segment. Following his departure, the Company revamped its Packaging management structure under which three general managers will be responsible, respectively, for folding carton, e-commerce, and the commercial printing activities. They will report directly to the President and Chief Executive Officer.

“We are proactively positioning our Packaging and Specialty Products activities to benefit from solid underlying growth in most of their target markets,” said Stewart Emerson, President and CEO of Supremex. “Transferring folding carton production to existing facilities will significantly increase operating efficiencies, and synergy achievement across our operations. We regret the impact that this decision could have on affected employees and their families. Meanwhile, the new management structure will enhance our capacity to drive additional value in each sector of activity and maintain proximity with our customers. We sincerely thank Simon for his contribution to the expansion of our packaging activities, and we wish him the very best in his future endeavors.”
https://supremex.com/wp-content/uploads/2023/01/Supremex-Packaging-Optimization-October-2023-EN-Final-2023-10-12.pdf

Related Posts

PaperWorks Invests in New Equipment and Technology to Increase Capacity and Capabilities (businesswire.com)

PaperWorks is increasing its production capacity and capabilities, investing in new technology innovation and platforms in the Greensboro, North Carolina facility. The state-of-the-art equipment and new technology platforms will integrate well with PaperWorks’ highly-efficient business model by offering the most sophisticated automation geared towards in-line innovation and full-quality control. The new investment consists of: *A new 41” Offset printing press from Komori (Japan) – GLX740 with seven colors and two coaters including automating logistics, in-line color control, in-line detection systems, automated changeovers and in-line cold foil technology. This top-of-the-line technology platform will allow for the production of high-end cartons that will be highly sustainable and cost-efficient. *Two new MasterFold folding gluing lines from Bobst (Switzerland) – 110A1 with 600Meters/Min line speed including end-to-end automation through a full batch turner, easy feed and auto packer. These lines are made with a highly sophisticated servo controlled matic system and innovative technology used between job changeovers. They are equipped with a world-class, advanced gluing system and detection systems for full in-line quality and process control.

Sealed Air Reports Q3 2024 Results

"With the shift into two verticals, Food and Protective, and the onboarding of new leadership, we have positioned Sealed Air for long-term success," said Patrick Kivits, Sealed Air's CEO. "Over the coming months, we are focused on operationalizing each vertical and finalizing the long-term growth strategy for each business. In parallel, we are stepping up our cost take-out initiatives to right-size each business and improve profitability until our transformation takes hold." "While our third quarter results were ahead of expectation, the strength of our Food business continues to be offset by continued softness in our Protective portfolio. As a result, we are maintaining the midpoint of our Sales and Adjusted EBITDA guidance," said Dustin Semach, Sealed Air's President and CFO. "We continue to improve underlying cash generation fundamentals, optimize our debt and tax rate, and as a result, we are raising our guidance for Free Cash Flow and Adjusted EPS for the year."

Growing Tissue Capacity

A new state of the art tissue paper mill is planned by Metsa in the UK through a landmark investment of hundreds of millions of pounds. The planned tissue paper mill in Goole, East Riding of Yorkshire in the UK, will use the best available technologies to manufacture 240,000 tons of tissue paper a year for the UK and Irish markets, using fresh fibre pulp as the main raw material from sustainably managed forests in the Nordics. This investment would deliver the largest tissue mill in the UK and significantly reduce the quantity of tissue products that are currently imported into the UK and Ireland each year. When operating at full capacity the mill will create 400+ direct jobs at the facility, as well as thousands more across the supply chain and the local economy.
Back To Top
×Close search
Search