Verso Announce Price Increase for Ideal® Uncoated Freesheet Products

Revenue in Q1 2018 was $323.7 million, compared to $289.3 million in Q1 2017, an increase of $34.4 million or 11.9%. The increase in revenue was due to the combination of: an additional 6 days of sales in Q1 2018 compared to Q1 2017; the favourable impact of increased sales volume; and a Consumer selling price increase in Canada in Q4 2017; partially offset by the unfavourable impact of foreign exchange fluctuations on U.S. dollar sales. Net income in Q1 2018 was $1.6 million, compared to $6.9 million in Q1 2017, primarily due to lower Adjusted EBITDA of $6.8 million, higher depreciation expense of $1.1 million, an increase in interest expense of $1.0 million, a decrease in foreign exchange gain of $0.4 million and the loss on sale of fixed assets of $0.4 million. These items were partially offset by a decrease in tax expense of $3.8 million and the change in fair value of derivatives of $0.6 million. Click Read More below for additional information.

Drytac, the leading international manufacturer of self-adhesive materials for the large-format print and signage markets, is delighted to announce the North American launch of its new Drytac Polar Blockout UV opaque printable block out film. Joining the Drytac Zero range of products, Polar Blockout UV is a 2.0 mil (50μ) highly opaque layered white PET film with a matte finish. It is coated with a white pressure-sensitive, permanent aqueous acrylic adhesive which is protected by a 50# siliconized PE coated release paper. It is the ideal solution for two-sided window graphics and other block out layer requirements. The film’s high opacity prevents graphics from showing through on the other side when being used as a cover up graphic, offering a highly effective solution to customers seeking to produce bold and impactful applications.

KP Tissue Inc. and Kruger Products announced that it will shut down certain older and inefficient production assets including a Light Dry Crepe paper machine and six converting lines in early January, 2023 in Memphis, Tennessee. High quality facial tissue and premium Through Air Dry (“TAD”) products will continue to be produced at its Memphis plant by approximately 400 remaining employees. The 165 employees impacted by this decision will receive severance and employment transition support. The Memphis plant is operated by Kruger Products’ subsidiary, K.T.G. (USA) Inc. and after the asset shutdown will have a production capacity of 85,000 Metric Tonnes. “While this is a difficult decision, it is necessary to ensure the continued success, competitiveness, and growth of our Memphis plant. We have invested over $400 million (USD) at our Memphis plant since 2010 and it will continue to be an important part of our business. We would like to sincerely thank our employees for their ongoing dedication and hard work.” said Dino Bianco, CEO of Kruger Products.