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Newsgrafik #118541

BOBST launches SPEEDPACK - The ultimate packer  (Company news)

BOBST announced the launch of SPEEDPACK, an innovative automatic packer for corrugated packaging that will allow users to realize the full potential of their BOBST folding-gluing lines. With the highest possible number of batches per hour and very short set-up times, it drastically increases productivity.

“SPEEDPACK is a revolutionary corrugated-box packer that gently picks up boxes as they exit the folder-gluer and batches them up in exactly the right way – quickly and reliably, while preserving the quality of your boxes,” said Jacques Reymond, Head of Product Marketing of Business Unit Sheet-fed. “We have listened to what our clients say they most need to optimize their folding-gluing machines and SPEEDPACK delivers exactly that. We believe it sets a new benchmark in this space.”

Thanks to its exceptionally fluid operation, its minimal footprint and optimal ergonomics and accessibility — which render set up times for repeat orders negligible — this robust packer can process literally any type of box, while maintaining irreproachable levels of quality. What’s more, the machine is completely modular, making it a future-proof investment that can grow with your business.

“The machine will help to reduce costs and optimize quality and line efficiencies, enabling a rapid return on investment,” said Emilio Corti, Head of Sales of Business Unit Sheet-fed. “As the most productive packer on the market, we believe SPEEDPACK will become the natural extension of your corrugated folder-gluer.”

BOBST presented SPEEDPACK for the first time at a FEFCO technical seminar in October 2017, publically demonstrating the significant added value it can generate.
(Bobst Mex SA)

Newsgrafik #118554

BÖWE SYSTEC Exclusive Days  (Company news)

BÖWE SYSTEC, the Augsburg postpress and logistics automation specialist, offers a regular opportunity to take a look behind the scenes of the company at its "Exclusive Days". The next one will be held in mid April 2018.

Something to get excited about on April 18, 2018
Wednesday April 18, 2018 is a date for production mailing centers and logistics experts to enter in their diaries right away. This is the day when BÖWE SYSTEC will invite them to its next in-house event, the "Exclusive Days" in Augsburg.

International visitors to the manufacturer’s in-house event particularly like its informal, familiar atmosphere and the opportunity it gives them to learn about BÖWE SYSTEC’s product highlights and to have face-to-face discussions about solutions to meet their own individual requirements.

So, make a date next spring to attend the mix of informative presentations and live demonstrations of current systems in areas such as inserting, card mailing as well as packet and parcel sorting – not to mention learning about exciting new developments!

Register now
If you would like to attend the “BÖWE SYSTEC Exclusive Days”, kindly get in touch with your local BÖWE SYSTEC sales contact.

For further information go to:

Save the date!
- BÖWE SYSTEC Exclusive Days
- April 18, 2018
- BÖWE SYSTEC Headquarters | Augsburg, Germany
- Register now with your local BÖWE SYSTEC sales contact
(Böwe Systec GmbH)

Newsgrafik #118555

Smurfit Kappa leads the way in sustainability with new water milestone   (Company news)

Sustainable packaging leader Smurfit Kappa has announced that it has slashed the chemical oxygen demand (COD) in its water discharge three years early.

The company had set an ambitious goal to improve the quality of its water quality by reducing the COD by 1/3 per tonne of produced paper by the end of 2020 compared to 2005. This significant improvement in water quality is an important step for protecting aquatic life and comes after extensive research and development.

Smurfit Kappa invested over €60 million in sustainable water treatment technology installing anaerobic water treatment processes that do not need oxygen and subsequently use less energy, followed by aerobic treatment to ensure low COD results. The treatment transforms water pollutants into biogas which is then reused as fuel in the company’s combined heat and power plants.

This milestone is the latest in a series of sustainability achievements and follows on from Smurfit Kappa reaching full chain of custody certification for its entire raw material supply chain earlier this year.

Speaking about achieving the latest goal, Steven Stoffer, VP of Development at Smurfit Kappa said: “We are very proud to have reached our water target in 2017, three years ahead of our 2020 goal. This is thanks to the extensive knowledge and experience we have gained in water treatment over the past decades and our focus on closing loops wherever possible. We aim to return all our water to nature as clean as before.”

“With our commitment to Forest Certification and Chain of Custody certified products, Smurfit Kappa is also actively contributing to the management and protection of the forests’ natural water cycle. By complying with certified sustainable forest management according to FSC®, PEFC™ and SFI® standards, we are proud to protect and support nature’s very important water manager.”

Water is one of the five key sustainability areas for Smurfit Kappa along with Forest, Climate Change, Waste and People.
(Smurfit Kappa Group Headquarters plc)

Newsgrafik #118556

New fluff capacity on its way   (Company news)

Work on two major investment projects
During the annual shutdown, the installations for two major investment projects were done. One project is a new gas collection system that will reduce sulfur emissions and increase the mill’s environmental performance. This investment is worth EUR 15 million and is expected to be completed by the end of 2017.

Photo: Skutskär mill’s annual maintenance shutdown was in October. There were over 1 700 jobs that were planned to be performed during the just over two-week stop: maintenance shutdown, maintenance, inspections, cleaning, service, repairs and connection of new equipment were carried out. "The annual maintenance shutdown is a prerequisite for being able to rebuild our mill so that we are able to produce pulp around the clock for the rest of the year," says Henrik Holm, Mill Director at Stora Enso Skutskär mill.

The second major project in progress is to increase the production of fluff pulp by approximately 160 000 tonnes per year. This investment is EUR 26.5 million and is expected to be completed during the second quarter of 2018. Fluff pulp is mainly used in airlaid hygiene products, such as diapers, feminine care and adult incontinence products. It is also used in tabletop products and wipes. Both hygiene and non-woven products are fast-growing markets. This capacity increase will enable Stora Enso to support the growth of our customers and further develop the business with them. Stora Enso’s mill in Skutskär is the biggest fluff pulp producer in Europe.

Well prepared
Thorough planning prior to maintenance shutdown is essential. Work is ongoing throughout the year to ensure that the maintenance shutdown is as successful as possible. In order for all the work to be done, the regular staff of 350 people gained reinforcement of 1300 contractors. "There were many people in place and a lot of work to be done. But we were well prepared for this gigantic teamwork," says Henrik Holm.

Top priority in safety
Safety has always the highest priority in Stora Enso. "Everybody home safe every day" is the motto that applies to all work that is done in the company. During the shutdown, for example, employees made daily safety tours at the mill and all contractors had to take local safety training before starting their work at the mill. "I am very satisfied with the fact that we did not have any serious accidents in this massive shutdown with so many jobs and many contractors involved. Good work was performed in order to reach this. However, we also realised that we have areas to further strengthen and improve in our safety performance and we will start that work immediately", concludes Henrik Holm.
(Stora Enso Fine Paper Skutskär Pulp Mill)

Newsgrafik #118557

Neenah Paper Announces Corporate Name Change to Neenah, Inc. Effective January 1  (Company news)

Neenah Paper, Inc. (the "Company") announced that the Company will change its name to Neenah, Inc. effective on January 1, 2018. The Company's ticker symbol on the New York Stock Exchange will remain "NP" and names of subsidiaries will not be affected.

"As we've continued to successfully execute our strategy to increase our presence in growing and profitable specialty niche markets, the last name of "paper" does not sufficiently reflect the diversity of our current and future company," said John O'Donnell, Chief Executive Officer. "The Neenah name, however, will continue to represent a product portfolio known for high performance and premium quality, as well as a company appreciated for its disciplined capital allocation and commitment to providing attractive returns to investors."
(Neenah Paper Inc.)

Newsgrafik #118558

SteriKraft® Protect S joins BillerudKorsnäs protect paper range  (Company news)

BillerudKorsnäs SteriKraft® Protect, manufactured from pure cellulose with no polymeric additions, is a unique medical packaging paper which is up to 20 percent stronger gram for gram than a normal paper. This gives a very special range of properties. The paper is fully compatible with direct seal films and highly cost effective, whilst offering substantially more protection for the packed device.

Building on the existing SteriKraft® Protect EO for low temperature sterilisation (EtO & Radiation), Protect S brings full compatibility with steam sterilisation (134°C) with high porosity and enhanced wet strength. Also, like Protect EO and BillerudKorsnäs SteriKraft® PeelClean range, Protect S offers strong seals and fibre free clean peels due to advanced size press coating technology.

SteriKraft® Protect EO is recommended for more challenging applications where cost effectiveness is still a key requirement eg IV catheters, large syringes, nutritional administration sets etc. SteriKraft® Protect S adds prefilled syringes, large hospital pouches and dialysis filters etc. to this list. As with all other papers in BillerudKorsnäs' SteriKraft® range, Protect S is fully approved under the relevant sections of EN868 and ISO 11607-1.

"Protect S compatibility with direct sealing combined with steam compatibility and with a significant increase in strength over a standard paper, all very cost effectively, fills a real need in the market," explains Jonathan Andrews, Business Development Director Medical at BillerudKorsnäs.

World launch at COMPAMED in Düsseldorf
The new BillerudKorsnäs SteriKraft® Protect S has been displayed for the first time at Compamed tradefair “Hightech solutions for medical technology” 13-16 November in Düsseldorf, Germany.
(BillerudKorsnäs AB (publ))

Newsgrafik #118560

Heidelberg achieves net profit after taxes for first half of year  (Company news)

-Group sales almost the same as previous year at €1,054 million
-Operating result (EBITDA) improves from €45 million to €60 million – EBITDA margin reaches 8.2 percent in second quarter
-Net result after taxes increases by €28 million – positive half-year result for the first time in ten years
-Success in strategic development – high demand for digital presses, establishment of new business models, and kickoff of a transformation program to drive operational excellence
-Exchange rate effects and reluctance to invest on the U.S. market
-Sights still set on targets for financial year 2017/18 as a whole

Heidelberger Druckmaschinen AG (Heidelberg) made further progress in operational and strategic development in the first half of 2017/18 (April 1 to September 30, 2017). Thus profitability improved significantly, resulting in a half-year net profit after taxes of €+0.3 million for the first time since financial year 2007/08. In the second quarter, the company made further progress in its future-oriented strategic issues such as technology leadership, digital transformation, and operational excellence. This was achieved through, among other things, market successes with innovative digital presses, establishing new business models, and enhancing efficiency by adapting leadership structures.

“The process of converting our company into a state-of-the-art digital technology group is progressing well,” says Rainer Hundsdörfer (photo), CEO of Heidelberg, and continues: “With the launch of new subscription models for our customers and our portfolio of innovative products for the eMobility growth sector, we’re moving into new territory that offers enormous potential for growth. Heidelberg will be setting new standards when it comes to technologies of the future, digitization, and efficiency. The necessary cultural shift has only just begun.”
(Heidelberger Druckmaschinen AG)

Newsgrafik #118544

Voith sets records with start-up of XcelLine tissue machine supplied to Little Rapids Corp  (Company news)

Voith Paper concluded, in October, the start-up of the new XcelLine VTM 3 tissue machine it has supplied to US tissue and specialty paper manufacturer Little Rapids Corporation. The new machine has replaced the company’s old PM 3 at its Shawano production facility in Wisconsin.

Photo: The scope of supply of the new Voith XcelLine tissue paper machine included auxiliary equipment, stock preparation, approach flow systems, a steam box, a gas hood, and a mist removal and dust reduction system. The order was rounded off by Voith's automation package, comprised of the DCS and MCS systems, as well as field services. The Yankee cylinder has been reused from the old machine.

The new VTM 3 went online six days ahead of the contract schedule, thereby achieving a total plant downtime of just 30 days from paper to paper, that is, between dismantling the previous equipment and erecting and starting-up the new machine. Besides this outstanding achievement, the second jumbo roll of tissue paper already provided marketable quality, and the machine reached its maximum operating speed during its first week in service.

All of the new VTM 3’s technologies and components are seamlessly coordinated and integrated with each other. Besides the new XcelLine tissue paper machine and its auxiliary equipment – not counting the Yankee cylinder, which has been reused from the old machine – Voith’s scope of supply also included stock preparation and approach flow systems, a steam box, a gas hood, and a mist removal and dust reduction system. The order was rounded off by Voith's automation package, comprised of the DCS and MCS systems, as well as field services.

This project’s key benefits include an improvement in paper quality and increased production capacity, since the new machine will now be producing at a speed of more than 1,800 meters per minute.

All of these measures are not only indicative of the project’s enormous success, but also the outstanding synergy between the Voith, Little Rapids Corporation, and Contract Companies teams. “We are extremely proud of the teamwork demonstrated by all parties involved to safely execute the rebuild within a very compressed timeframe. We are also encouraged by the performance that we are seeing at this early stage of the machine’s start-up ramp and optimistic that this investment will provide additional capabilities and quality enhancements that our customers value,” said Ron Thiry, Vice President and General Manager at Little Rapids Corporation.
(Voith Paper GmbH & Co KG)

Newsgrafik #118546

Minerals Technologies Signs Agreement with PT Pindo Deli Pulp and Paper Mills, ...  (Company news)

...Part of the Asia Pulp & Paper Group, to Construct an 80,000 Metric Ton Per Year Satellite PCC Plant in Indonesia

Minerals Technologies Inc. (NYSE:MTX) announced that it has signed an agreement with PT Pindo Deli Pulp and Paper Mills, part of the Asia Pulp & Paper Group (APP), to build an 80,000 metric ton per year satellite precipitated calcium carbonate (PCC) plant at its paper mill in Pindo Deli, Indonesia, located just east of the city of Jakarta. The facility will be operated by Pindo Deli Specialty Minerals (PDSM), a newly created joint venture in Indonesia.

“We are very pleased to expand our relationship with this long-term partner and world-class paper manufacturer,” said Douglas T. Dietrich, Chief Executive Officer. “This agreement follows the signing of a new 125,000 ton per year PCC plant and 40,000 ton expansion with APP in Indonesia earlier this year.”

This facility is scheduled to begin operation in the fourth quarter of 2018. D.J. Monagle III, Group President, Specialty Minerals and Refractories, commented further, “Asia Pulp & Paper is an innovative paper company, and we are pleased that they have confirmed the value of our PCC technology in their fine paper grades. Our PCC will be used as a paper filler to improve brightness, opacity and bulk, and to reduce the cost to the papermaker of higher-cost fiber.”

PCC is a specialty pigment for filling and coating high-quality paper. By substituting Minerals Technologies' PCC for more expensive wood fiber, customers are able to produce brighter, higher quality paper at lower cost. In 1986, Minerals Technologies originated the satellite concept for making and delivering PCC on site at paper mills, and the concept was a major factor in revolutionizing papermaking in North America. Today, the company has nearly 60 satellite plants in operation or under construction around the world and continues to lead the industry with consistent quality and technical innovation.
(MTI Minerals Technologies Inc.)

Newsgrafik #118548

A.Celli Paper for St. Croix Tissue Inc.  (Company news)

A.Celli Paper enthusiastically encourages St. Croix Tissue Inc. (USA) with professionalism by providing equipment in-line with their needs.

A new tissue rewinder and roll handling system by A.Celli Paper for the US company that has recently entered the world of tissue manufacturing.

St. Croix Tissue Inc., located in Baileyville, ME (USA), very close to the Canadian border, is a recently born tissue manufacturing company that can already boast of a long-standing history. Its sister company, Woodland Pulp LLC, has been producing since 1904, and produces a premium quality raw material (bleached hardwood pulp) with wood chips coming from the surrounding forest areas, a portion of which is designated for St. Croix Tissue.

A.Celli Paper provided the Maine facilities with a complete roll handling system, which was started up in March of 2016 and October 2017.

Thanks to this system, the jumbo reels coming from the tissue machine are automatically transferred to the wrapper, making the production process not only more fluid and faster, but also safer. And this also because the new A.Celli Paper handling system is supported by an overhead cranes (it, too, automatic) positioned above the tissue machines, that aids in the most critical phases.

In addition to the roll handling system, the supply also included a new rewinder mod. AC882. Started up in June of 2016, it obtained optimal results, reaching the speed of 1800 mpm with production paper, with no vibration or web break issues, to the customer’s full satisfaction.

Supporting this new company has doubtless been a stimulating experience for A.Celli Paper, and the great results obtained today are a prelude to the inception of a long-lasting relationship, fruit of the customer’s trust, repaid by the competence and professionalism of a provider of technological excellence like the Lucca company, capable of listening to problems and finding an exhaustive answer.
(A. Celli Paper S.p.A.)

Newsgrafik #118549

Cenveo Reports Third Quarter 2017 Results  (Company news)

-Closes Sale of its Office Products Business
-Significant Progress on Implementation of $65 Million 2017 Profitability Improvement Plan
-Company Awarded 2020 U.S. Census Printing and Mailing Contract
-2017 Guidance Update

Cenveo, Inc. (NASDAQ: CVO) reported financial results for the three and nine months ended September 30, 2017. The reported results exclude the operating results of our Quality Park office product envelope business, which we refer to as the Office Products Business, that was sold in the fourth quarter of 2017, and our packaging operating segment as well as our top-sheet lithographic print operation, collectively referred to as our Packaging Business, which was sold during the first quarter of 2016. Both businesses have been classified in our consolidated financial statements as discontinued operations.

Third Quarter 2017 vs. Third Quarter 2016 Overview
-Net sales of $329.5 million compared to $382.7 million.
-Net loss of $28.1 million compared to net income of $9.4 million.
-Adjusted EBITDA(1) of $24.3 million compared to $37.8 million.
-Net cash used in operating activities of continuing operations of $5.1 million compared to cash provided by operating activities of less than $0.1 million.

Management Commentary
"The operating environment we experienced during the first half of the year continued throughout the third quarter. We were again impacted by weakness in our direct mail business driven by softness from our financial institution customers due to lower customer acquisition related mailings. These results were partially offset by the positive effects of our 2017 Profitability Improvement Plan. We are very pleased with the implementation progress and we are on pace to achieve our $65 million target that we announced earlier this year. We are currently working to address our capital structure, particularly our August 2019 maturity, and we look forward to sharing our plans with our investors at the appropriate time," said Robert G. Burton, Sr. (photo), Chairman and CEO of Cenveo.

Mr. Burton continued, "We are also very pleased to announce that Cenveo has been awarded the 2020 U.S. Census printing and mailing contract. This multi-year, $61 million contract is one of the largest printing and mailing contracts ever awarded by the U.S. Government Publishing Office. We are excited and committed to partner with the U.S. Census team and we are confident in our ability to deliver this significant and unique program."

Sale of Office Products Business
Over the course of the second and third quarters of 2017, we have been actively marketing the sale our Office Products Business. On November 8, 2017, we sold our Office Products Business, which we had expected to generate approximately $120 million of net sales and approximately $9 million of Adjusted EBITDA in our 2017 initial guidance. As a result of the sale, the financial results of the Office Products Business are accounted for as discontinued operations. Our historical financial statements have been retroactively adjusted to give recognition to the discontinued operations for all periods presented.

Financial Results
Net sales in the third quarter of 2017 were $329.5 million compared to $382.7 million in the same period last year, a decline of 13.9%. The Company generated net sales of $1.01 billion for the nine months ended September 30, 2017, compared to $1.16 billion for the same period last year, a decline of 13.1%. The sales decline for both the three and nine month periods was primarily driven by: (i) lower sales in the envelope segment, primarily due to lower direct mail demand primarily from our financial institution customers and lower demand in our wholesale and generic transactional envelope product lines primarily due to marketplace trends; (ii) lower sales volumes in the commercial print group and the publisher services group, primarily driven by lower customer demand and continued pricing pressures; and (iii) lower sales in the label segment, primarily due to the decision to exit our coating operation which was completed in the second quarter of 2016, and lower sales driven by customer demand and product mix changes.

Operating loss was $0.5 million for the three months ended September 30, 2017, compared to operating income of $20.2 million in the same period last year. Operating income was $22.6 million for the nine months ended September 30, 2017, compared to operating income of $51.9 million for the same period last year, a decline of 56.5%. The decline during the three months ended September 30, 2017 was primarily due to lower gross profit resulting from lower sales volumes and intangible asset impairments of $7.7 million driven by our current and expected future operating results for certain product lines. The declines in the nine months ended September 30, 2017 were primarily due to lower gross profit resulting from lower sales volumes, the impact of the decision to exit the coating operation, intangible asset impairments of $7.7 million driven by our current and expected future operating results for certain product lines, and higher restructuring and other charges resulting from the 2017 Profitability Improvement Plan. The declines in both periods are partially offset by the benefit of lower selling, general and administrative expenses due to our cost reduction initiatives in connection with the 2017 Profitability Improvement Plan and lower commission expense due to lower sales volumes. Non-GAAP operating income was $12.9 million for the three months ended September 30, 2017, compared to non-GAAP operating income of $24.8 million for the same period last year. Non-GAAP operating income was $50.0 million for the nine months ended September 30, 2017, compared to $65.4 million for the same period last year. A reconciliation of all non-GAAP figures are reported in the tables below.

For the three months ended September 30, 2017, the Company had a loss from continuing operations of $19.4 million, or $2.27 per diluted share, compared to income of $8.1 million, or $0.92 per diluted share, for the same period last year. For the nine months ended September 30, 2017, the Company had a loss from continuing operations of $28.9 million, or $3.38 per diluted share, compared to income of $65.1 million, or $6.84 per diluted share, for the same period last year. Income during our 2016 reported periods was primarily driven by gains on the early extinguishment of debt of $7.4 million and $80.3 million during the three and nine months ended October 1, 2016, respectively, offset partially by the changes noted above to our operating (loss) income. Non-GAAP loss from continuing operations was $7.0 million, or $0.82 per diluted share, for the three months ended September 30, 2017, compared to income of $5.2 million, or $0.58 per diluted share, for the same period last year. Non-GAAP loss from continuing operations was $8.9 million, or $1.04 per diluted share, for the nine months ended September 30, 2017, compared to a loss of $1.5 million, or $0.18 per diluted share, in the same period last year. A reconciliation of (loss) income from continuing operations to non-GAAP (loss) income from continuing operations is presented in the attached tables.

Net loss was $28.1 million for the three months ended September 30, 2017, compared to net income of $9.4 million for the same period last year. For the nine months ended September 30, 2017, net loss was $38.6 million, compared to net income of $68.2 million for the same period last year. Adjusted EBITDA was $24.3 million for the three months ended September 30, 2017, compared to $37.8 million for the same period last year. Adjusted EBITDA was $84.6 million for the nine months ended September 30, 2017, compared to $102.5 million for the same period last year. The significant changes in our Adjusted EBITDA were due to lower gross profit resulting from lower sales volumes and the exit of our coating operation accounting for a reduction of approximately $20.0 million and $37.9 million for the three and nine months ended September 30, 2017, respectively. The declines were partially offset by our profit improvement initiatives, which accounted for an increase of approximately $6.9 million and $18.0 million for the three and nine months ended September 30, 2017, respectively, primarily driven by our operational efficiency projects and position reductions across our operating platform.

Cash flow used in operating activities of continuing operations for the third quarter 2017 was $5.1 million, compared to less than $0.1 million provided by operating activities of continuing operations for the same period last year. Cash flow used in operating activities of continuing operations for the nine months ended September 30, 2017, was $6.2 million, compared to $3.3 million provided by operating activities of continuing operations for the same period last year. The declines in both periods were primarily due to changes in working capital, particularly the timing of payments to vendors and higher inventories due to inventory needs during plant consolidations, partially offset by sales to and collections from our customers.

At September 30, 2017, cash and cash equivalents totaled $6.3 million, compared to $5.5 million at December 31, 2016. Total outstanding long-term debt, including current maturities, was approximately $1.1 billion as of September 30, 2017, an increase of $40.4 million from December 31, 2016, primarily due to net borrowings on our asset-based revolving credit facility, as well as the initiation of certain equipment financing arrangements.

2017 Outlook
"While we are disappointed with our operating results for the first nine months of the year, we remain committed to our longer term strategy of cost containment, growing our market share, and addressing our capital structure. After considering the sale of our Office Product Business, our operating results through the first nine months, and our current view of the fourth quarter, we believe we will achieve Net sales of $1.315 billion to $1.330 billion and Adjusted EBITDA of $110 million to $115 million for the full year 2017. Despite the lower guidance, we believe we will still generate positive Adjusted Free Cash Flow for the full year 2017. Lastly, we currently have liquidity of over $40 million, which we anticipate will improve during the remainder of the year given the fourth quarter is expected to be our heaviest cash flow generation quarter of our year, along with the net proceeds from the sale of our Office Product Business. We look forward to discussing our outlook for the remainder of 2017 and an initial view into our expectations for 2018 on our call tomorrow morning," Mr. Burton concluded.
(Cenveo / Cadmus Specialty Packaging)

Newsgrafik #118551

Report on the 3rd quarter: Koenig & Bauer on track to meeting growth and earnings targets for 20  (Company news)

-4% rise in orders to €903m
-Gains in service and the growth fields of packaging and digital printing
-2% increase in revenue to €848m
-With book-to-bill ratio of 1.07, order backlog of €613m remains at the previous year’s high level
-EBIT of €20.1m and a margin of 6.5% in Q3
-Guidance for 2017 confirmed: revenue of up to €1.25bn and an EBIT margin of around 6%

Following a good third quarter, the Koenig & Bauer group took a large step towards achieving its growth targets for revenue and earnings in 2017, the year in which it was celebrating its 200th anniversary. In the first nine months, order intake rose by 3.9% over the previous year (€869.8m) to €903.4m. “In addition to our expanding service business, the increase in new orders was underpinned by gains in the growth fields of packaging and digital printing,” said CFO Mathias Dähn. CEO Claus Bolza-Schünemann (photo) reported on a first order for the newly developed digital CorruJET sheetfed press addressing the prospering market of corrugated printing, which attracted great customer interest at the trade event FEFCO in Vienna in October. Revenue rose by 2% to €847.7m. With the book-to-bill ratio of 1.07, the order backlog of €613.2m at the end of the quarter remained at the previous year’s high level. EBIT came to €36.4m in the first nine months. The previous year’s figure of €39.2m had been influenced by a catch-up effect of €4.9m from a security press project. Group net profit came to €29.5m (2016: €32.5m), equivalent to earnings per share of €1.79 (2016: €1.98).

Group earnings strengthened by increased Sheetfed profit
Order intake in the Sheetfed segment rose by 11.7% over 2016 (€429.8m) to €480.3m. In addition to the clear increase in service orders, this performance was underpinned by strong demand in the packaging sector and good signings for commercial sheetfed presses and flatbed die-cutters. Revenue grew by 7% from €443.8m in the previous year to €474.7m. The additional revenue with a good service business and lower costs resulted in an increase in segment profit to €20.3m (2016: €17.3m).

Order intake in the Digital & Web segment dropped to €111.1m compared with €128.5m in the previous year particularly as a result of fewer new contracts for web offset presses for newspaper and commercial printing. Reflecting this, revenue came to €113.2m, down 8.8% on the previous year (€124.1m) despite the growth in service business and digital printing presses. The positive earnings trend in web offset and digital printing business came under strain from optimisation efforts at KBA-Flexotecnica, resulting in segment EBIT of –€3.6m compared with the previous year’s figure of –€1.9m.

In the Special segment, growth in orders for metal, glass/hollow container decorating and coding systems together with a slight shortfall in security printing business over the previous year’s high level resulted in an increase in new orders from €355.3m to €359.8m. At €304.6m, revenue still fell short of the previous year (€323.6m). EBIT came to €25.6m in the first nine months (2016: €29.6m). The segment posted an EBIT margin of 8.4%.

Increase in equity ratio to 32.4%
Despite the higher customer prepayments, cash flows from operating activities came to –€24.6m and were thus down on the previous year’s figure of –€5m. Whereas working capital was successfully reduced in large parts of the group, inventories and customer receivables mainly rose in the Special segment. However, the measures already taken will not have short-term effects. Aside from capital spending of €27.9m, the free cash flow of –€87.8m (2016: –€17m) was burdened by the payment instalments of €37.4m made to date for the external funding of a part of the pension provisions. With its funds of €117.1m, securities of €16.9m that can be liquidated at short notice as well as the high cash and guarantee facilities, Koenig & Bauer has a stable funding base. The equity ratio rose relative to the higher balance sheet total to 32.4% (end of 2016: 31.1%).

The group workforce increased by 210 over the previous year to 5,542 employees as of 30 September. In addition to recruiting in the service business and for new applications for the packaging and digital printing markets, 44 employees joined the group as a result of the first-time consolidation of KBA CEE.

Guidance for 2017 confirmed
Following the 2% increase in revenue in the year to 30 September 2017 and the good earnings in the 3rd quarter, the management board’s guidance for 2017 is based on the high order backlog of €613m. Said CEO Claus Bolza-Schünemann: “The numerous press deliveries and service orders in the fourth quarter will trigger a surge in revenue and earnings. In view of this business concentration, which is challenging due to the high capacity utilisation but not unusual, we expect an organic growth of up to €1.25bn in group revenue and an EBIT margin of around 6% in 2017.”
(Koenig & Bauer AG (KBA))

Newsgrafik #118564

Changes in SCA's Group Management  (Company news)

Due to approaching retirement, there will be changes in SCA’s Group Management.

Mats Sandgren (photo) will leave his position as President of Business Area Forest as of April 1 2018. He will work on as senior advisor in SCA’s corporate staff. He will continue to report to Ulf Larsson, SCA’s President and CEO.

Jonas Mårtensson, presently President of Business Area Wood, will take on the position as President of Business Area Forest as of April 1 2018 and at the same time leave his present position.

Jerry Larsson, presently Manager of Obbola Papermill, will take on the position as President of Business Area Wood as of April 1 2018. Per Strand, presently Sales Director of Kraftliner in Scandinavia, will take on the position as Manager of Obbola Papermill as of February 15 2018.
(Svenska Cellulosa Aktiebolaget SCA (publ))

Newsgrafik #118568

ANDRITZ to supply baling line with bale tracking to Sappi Saiccor  (Company news)

International technology Group ANDRITZ has received an order from Sappi Saiccor to supply a baling line with bale tracking for its mill in Saiccor, South Africa. Start-up is scheduled for 2018.

The order comprises a new baling line with a capacity of 250 bales per hour, machines to connect two existing production lines, and bale tracking for the new and the two existing baling lines. Although there is limited space available, no new building is necessary due to the special space-saving design of the ANDRITZ baling line.

This order once again endorses the excellent cooperation between Sappi Saiccor and ANDRITZ. Only recently, ANDRITZ was awarded an order to supply a new headbox and rebuild the pulp dryer to increase the capacity at the Saiccor mill.
(Andritz AG)

Newsgrafik #118533

Appvion to Consolidate Carbonless Paper Manufacturing Operations  (Company news)

Appvion, Inc. announced plans to consolidate the majority of the carbonless paper coating and rewinding operations currently performed at its plant in Appleton, Wisconsin, to its integrated pulp and paper mill in Roaring Spring, Pennsylvania, and relocate the Appleton Plant's sheeting operations to an Appvion-operated facility near the mill. The company expects the transition will begin in January and be completed in the third quarter of 2018.

Consolidating Appvion's carbonless paper manufacturing, rewinding, and sheeting to the Roaring Spring area, where Appvion already produces this product, will help position the company for long-term success by increasing the efficiencies of its manufacturing and logistics operations.

"Our consolidation plan is an important operational improvement initiative designed to enhance Appvion's competitive position in the carbonless paper market," said Kevin Gilligan, Appvion's chief executive officer. "This move will allow Appvion to most effectively serve current and future demand for carbonless products and maintain our commitment to a market that we have been proud to serve since our company helped introduce this product 63 years ago."

The consolidation plan will result in the shutdown of three under-utilized coaters and related rewinding and sheeting equipment at the Appleton Plant and the elimination of approximately 200 hourly and salaried jobs at that facility. Approximately 300 hourly and salaried plant employees will be retained at the Appleton Plant to continue producing the company's thermal paper products and some carbonless and specialty coated grades. Employment at Roaring Spring Mill and at Appvion's thermal paper coating plant in West Carrollton, Ohio, will be unaffected by the plan.

Gilligan continued, "We greatly appreciate the role the affected employees at the Appleton Plant have played in serving customers over the years and we are committed to helping them through this transition."

The implementation of the plan is pending discussions with representatives of the Appleton Plant's Local 2-0469 of the United Steelworkers Union regarding the reasons for and effects of the company's consolidation plan.
(Appvion Inc.)

Newsgrafik #118536

Tieto selected to help Lecta Group modernize its IT environment and enable digitalization  (Company news)

Lecta Group, one of the leading paper manufacturers and distributors in Europe, has chosen Tieto to modernize its IT systems and enable the transformation and digitalization journey in the company. The renewal is based on Tieto Paper Solution on SAP and Tieto Integrated Paper Solution (TIPS) for the global paper industry. The new systems will be implemented in all Lecta’s seven mills in Spain, France and Italy. The agreement is valid for 4 years.

With this transformation journey Lecta aims to gain new business capabilities for its information driven supply chain and production excellence. This includes e.g. functions for demand management, sales management, centralized planning, production management, reporting and analytics.

Our challenge at Group level is to harmonize and streamline processes in a modern and common platform based on a combination of best of breed standard solutions. In this sense, Tieto plays a key role in our processes and our technology transformation journey. TIPS and Paper Solution help us to solve our challenges and make it easier to adopt Pulp and Paper Sector best practices, especially in our direct business and in our planning and manufacturing areas. This business and technological transformation also implies a far-reaching change in the way we do business and it is much easier if we have the right partners on board and the right solutions in place, explains Francesc Boix, IT Corporate Director at Lecta.

Tieto and Lecta have been partners already for 25 years and we are happy to expand our collaboration with them. The paper industry is facing big changes and digitalization and automation of business operations are helping paper companies to drive growth and success in the competing market. This agreement supports execution of Lecta’s growth strategy and their transformation program that will continue until the year 2020, says Carsten Henke, Head of Production Excellence, Forest industry at Tieto.

The new Tieto solution offers Lecta mutual and harmonized processes across all the company’s mills and countries and enables transparency in the whole value chain. Digitalization and automation enable more efficient, faster and flexible reactions to the market changes and increasing customer demands including new digital services. Standardized and stream lined processes are also effective and will reduce the company’s operational costs.

Tieto’s integrated SAP/TIPS solution is combined and optimized for the pulp, paper, board and tissue industries utilizing the industry-proven best functions for both MES (Manufacturing Execution System) and ERP (Enterprise Resource Planning). It seamlessly links planning, business operations and production processes, and there are over 250 installations worldwide.
(Tieto Germany GmbH)

Newsgrafik #118538

HANS KAPPL: New managing director  (Company news)

With effect from 1 october 2017, Petra Schumacher (photo) took over the management of HANS KAPPL GmbH & Co. KG.

Born in Hamburg, she brings with her the experience she has gained in her earlier employment in management positions within the printing and packaging industry. She is a qualified platemaker for gravure print and has also extensive knowledge in the area of flexo, offset and digital print. Last, Petra Schumacher worked as head of the prepress and platemaking department for an international producer of flexible packaging.
(Hans Kappl GmbH & Co. KG)

Newsgrafik #118539

Rayonier Advanced Materials Reports Third Quarter 2017 Results  (Company news)

-Third quarter net income of $16 million and pro forma EBITDA of $44 million unfavorably impacted by $3 million and $5 million, respectively, due to Hurricane Irma
-Full year projected net income and pro forma EBITDA now anticipated to be approximately $25 million and $180 million, respectively, which includes the impact of Hurricane Irma and previously announced major customer operational upset in the fourth quarter
-On-track for $30 million of cost transformation improvements in 2017 with $23 million achieved year-to-date
-Acquisition of Tembec expected to close in the second half of fourth quarter with integration planning nearly complete

Rayonier Advanced Materials Inc. (the “Company”) (NYSE:RYAM) reported third quarter 2017 net income of $16 million, or $0.28 per diluted common share compared to $22 million, or $0.44 per diluted common share in the third quarter of 2016. Third quarter 2017 pro forma net income was $10 million, or $0.18 per diluted common share, compared to $22 million, or $0.44 per diluted common share in the third quarter of 2016. Third quarter 2017 pro forma net income and diluted earnings per share are adjusted for transaction costs and an unrealized gain on a derivative instrument, both associated with the pending acquisition of Tembec. Additionally, the 2017 earnings per diluted common share amount reflects the impact of the Mandatory Convertible Preferred Stock issuance in the third quarter of 2016.

Year-to-date net income was $30 million, or $0.46 per diluted common share compared to $62 million, or $1.38 per diluted common share in 2016. Year to date pro forma net income was $28 million, or $0.42 per diluted common share, compared to $56 million, or $1.24 per diluted common share in 2016. In addition to the 2017 impact of the pro forma adjustments mentioned above, 2016 pro forma net income and diluted earnings per common share reflect an adjustment for a gain on debt extinguishment associated with the repurchase of Senior Notes.

Both third quarter and year-to-date net income were negatively impacted by $3 million due to Hurricane Irma, which forced the closure of both of the Company’s manufacturing facilities during September. For the full year, the Company expects a $7 million impact to net income from the hurricane due to higher costs and reduced sales volumes as a result of lost production and shipment delays.

“Despite the significant weather event, the team did a commendable job of safely managing our assets and keeping our customers’ informed and their operational needs met,” said Paul Boynton (photo), Chairman, President and Chief Executive Officer. “While the hurricane significantly impacted our operations and financial results, excluding the event, our results for the quarter would have kept us in-line with our full year plan.”

Third Quarter and Year-to-Date Operating Results
Third quarter 2017 sales were $210 million compared to $207 million in the prior year, an increase of $3 million, or 1 percent. The change in net sales was driven by improved commodity sales prices due to a shift in production from absorbent materials to commodity viscose and improved commodity markets resulting in higher sales prices for both commodity viscose and absorbent materials. Commodity sales volumes increased due to the timing of revenue recognition, partially offset by discrete production issues during the quarter. A decline in cellulose specialties sales prices of 2 percent, as expected, and slightly lower cellulose specialties sales volumes, partly offset the commodity sales increase.

Year-to-date sales were $612 million compared to $638 million in the prior year, a decrease of $26 million, or 4 percent. The change in net sales was driven by a decline in cellulose specialties sales prices of 5 percent, as expected, and slightly lower cellulose specialties sales volumes primarily due to the timing of revenue recognition. Commodity sales prices improved due to stronger commodity markets resulting in higher sales prices for both commodity viscose and absorbent materials. Commodity sales volumes decreased due to a shift in production from absorbent materials to commodity viscose and production issues.

Third quarter and year-to-date 2017 operating income was $18 million and $57 million, respectively, $23 million and $55 million less than the prior year respective comparable periods. Excluding the impact of the costs associated with the pending acquisition of Tembec, third quarter and year-to-date 2017 pro forma operating income was $23 million and $70 million, respectively, $18 million and $42 million less than prior year respective comparable periods. The third quarter and year-to-date 2017 results reflect lower cellulose specialties sales prices and higher commodity product sales prices, as previously discussed. Savings from Cost Transformation were more than offset by costs incurred to achieve additional future savings, higher production expenses due to sales mix, chemical prices and production issues, as well as, investments in customer product development. In addition, results were unfavorably impacted by $5 million from the impact of Hurricane Irma. Selling, general and administrative expenses also decreased for the quarter primarily due to lower stock compensation expense. Year-to-date selling, general and administrative expenses increased slightly due to costs related to New Product development activities.

Year-to-date 2017, the Company has realized approximately $23 million in gross cost savings against its Cost Transformation target of $30 million, primarily due to cost improvements in supply chain, chemical usage and wood optimization. Savings from the Cost Transformation pillar now total $108 million since inception.

Interest and Other Expense, Net
Interest expense, net of interest income and other expense, was $25 million for 2017, comparable to the prior year as a result of lower outstanding debt and favorable interest income on higher cash balances, offset by higher LIBOR interest rates on floating rate debt.

Income Tax Expense
The year-to-date effective tax rate was 38 percent, compared to 35 percent during the prior year period. The current period effective tax rate reflects the accounting impact of the write-off of the deferred tax asset associated with the 2014 employee incentive stock grant, which did not vest.

Cash Flows and Liquidity
Year-to-date, the Company generated operating cash flows of $118 million and adjusted free cash flows of $77 million. As a result, debt was reduced $3 million to $780 million, while net debt was reduced $58 million to $408 million. With strong adjusted free cash flows, the Company ended the third quarter with $379 million of cash and $622 million of total liquidity, including $243 million available under the revolving credit facility after taking into account outstanding letters of credit.

On August 17, 2017, the Company received commitments from lenders to borrow up to $680 million to fund the Tembec acquisition through the refinancing of existing term loans. In preparation for the acquisition and subsequent to the quarter end, the Company made additional principal payments of $268 million on the term loans on September 26, 2017.

Guidance and Outlook
The impact of Hurricane Irma and the operational disruption of a major customer’s production will have a significant negative impact on full year guidance, but its impact is expected to be limited to 2017. For the full year 2017, the Company now expects cellulose specialties sales prices and volumes to decline approximately 4 percent and 5 percent, respectively, from the previous year. The reductions in full year cellulose specialties sales volumes are driven by the negative impact from Hurricane Irma and the previously announced operational upset of a major customer. Additionally, commodity sales volumes are expected to decline 9 percent over last year. Commodity sales volumes were also impacted by Hurricane Irma and the planned shift in production from absorbent materials to commodity viscose, as well as production issues. As a result, the Company expects net income of approximately $25 million and pro forma EBITDA of approximately $180 million. Cash flow from operations and adjusted free cash flows are anticipated to be $121 to $126 million and $80 to $85 million, respectively. The Company anticipates capital expenditures of approximately $50 million plus strategic capital spending related to the investment in the LignoTech Florida project of $5 million.

Ethers and other cellulose specialties end-use demand continue to show strength and will provide opportunities for the Company to expand future sales in these faster growing end-uses. The acquisition of Tembec and its strong position in the ethers end-use, allows the Company to further diversify its portfolio of products. In acetate, excess capacity coupled with flat demand growth for acetate tow products is creating a very competitive sales environment. The Company believes its cost transformation efforts and the pending acquisition of Tembec, progress in market optimization and new products, position it well for future growth.

“The third quarter and the full year results are being negatively impacted by events outside our control. I am proud of each employee’s focus and effort during these challenging months to minimize the impact to our performance. Without these two significant disruptions, we would continue to be at the higher end of our original full year EBITDA outlook,” Boynton concluded. “We are a resilient company and focused on the future, which includes significant growth opportunities including the acquisition of Tembec, the completion of LignoTech Florida, the continued cost transformation of our business and the execution of our four pillars of growth.”
(Rayonier Advanced Materials Inc.)

Newsgrafik #118540

Stora Enso delivers cloud-based intelligent packaging solutions enabled by Microsoft  (Company news)

Stora Enso has joined forces with Microsoft to bring cloud-based intelligent packaging solutions to clients globally. Intelligent Packaging by Stora Enso utilizes Microsoft Azure, the leading cloud platform for business digitalization. The global and scalable cloud platform from Microsoft enables reliable and secure data collection and analytics for clients investing in innovative intelligent packaging solutions.

Intelligent Packaging by Stora Enso integrates widely adopted RFID (Radio frequency identification) technology which enables the product to be tracked, traced and tamper-proofed throughout the entire supply chain. Moreover, the technology allows communication between the brand-owner and the end-user using an NFC (Near Field Communication)-enabled smartphone. Comprehensive data management and analytics capabilities are vital to all intelligent packaging solutions. Through the Microsoft cloud service, all data are collected for analytics to support and improve business efficiency.

“Microsoft Azure offers a scalable and trustworthy platform for us and our globally operating clients. Now packaging data can be collected and analyzed anytime and anywhere, allowing customers an unprecedented amount of valuable information from supply chain performance to consumer behavior. Merging renewable packaging with intelligent, cloud-based features supports a more effective and profitable business”, says Teemu Salmi, Senior Vice President, CIO & Head of Digitalization at Stora Enso.

“We are proud to work with Stora Enso in the new era of intelligent packaging solutions. Microsoft Azure delivers Internet of Things services which Stora Enso is leveraging to better serve their customers and provide fast service development, scalability and global reach. Stora Enso’s intelligent packaging is a great example of the kind of innovative new services enabled by the Microsoft Azure platform”, says Marc Jalabert, General Manager, Marketing & Operations at Microsoft Western Europe.

Stora Enso and Microsoft are currently involved in multiple projects for intelligent packaging with large international enterprises in diverse industries.
(Stora Enso Oyj)

Newsgrafik #118490

Nilpeter and Label Systems partner for success with The All New FA  (Company news)

Picture: Amy Van Brunt, President & Owner of Label Systems, Inc., is embracing new market trends with The All New FA from Nilpeter

Label Systems, Inc., located in the Dallas suburb of Addison, Texas, has earned a solid reputation for providing high quality label products with innovative solutions and good old-fashioned customer service, through nearly 45 years of business. The addition of The All New FA from Nilpeter will jump start their journey into the next 45 years of business.

Label Systems, Inc. started from humble beginnings in a family garage, with the vision of providing customers with custom branded solutions for their label needs. Today, they are proud to have successfully served over 5,000 satisfied customers worldwide across more than 25 industries.

“We work with some very large brand owners that require the highest quality packaging delivered on time and on budget. When we discussed the new market trends and opportunities, the team at Nilpeter shared a wealth of information and knowledge. The level of innovation and automation in their equipment, along with their skilled team, will provide us with the tools to be a leader in this industry. Those are the types of qualities we look for in a partner and the new FA press will be a powerful addition to our line-up,” says Amy Van Brunt, President & Owner of Label Systems, Inc.

John Van Brunt, Founder & VP of Operations, explains the decision process on the new press, “Your next press purchase is always a challenging decision. We researched many press manufacturers but in the end our previous success with Nilpeter, and the partnership we have built, solidified this decision. The level of automation providing improved make-ready times and operator efficiency make this press the perfect choice. This press will engage with our current operations and allow us to easily enter into new markets and offerings.”.

The All New FA provides a maximum level of stability, the tightest register tolerance, and excellent printing results on multiple substrates. Based on Nilpeter’s Clean-Hand design approach and wireless operation, the FA ensures clean hands during press operation, with a minimum of hands-on press interaction; all data is saved, jobs are easily recalled, and the press will auto-register.

“We are proud to continue our relationship with Label Systems, Inc. – the new FA is ideally suited for industry 4.0 operations and performance, marking a new journey and a bright future for Amy, John, and their team,” says Paul Teachout, Vice President of Sales & Marketing, Nilpeter USA.
(Nilpeter USA Inc.)

Newsgrafik #118501

Greycon releases new version of X-Trim and opt-Studio  (Company news)

Greycon has announced the 9.2 release of its planning tools, X-Trim® (photo) and opt-Studio™.

X-Trim new developments include:
• Load planning Phase II: optimal decomposition of the trim solution into container / truck loads
• Length tolerance: the system can consider mixed-length reels when reel lengths / diameters vary slightly (also known as slabbing).
• Algorithmic performance improvement: the new version is 6.3% faster on smaller problems and 19.9% faster on difficult problems.

opt-Studio new developments include:
• New entities: ship-to groups for load planning, distribution centres and supply networks. These lay the foundations for the integration with the recently-announced Greycon Forecasting tool. The resulting future inventory profiles for remote warehouses and vendor-managed inventory become part of the system and are fully manageable.
• Synchronisation: the new release extends multi-user capabilities, providing automatic conflict resolution.
• ATP/CTP: Additional capabilities for multi-site implementations.

Constantine Goulimis, CEO at Greycon, said: “Growth in both our installed user base and internal development resources has enabled us to deliver this version to the market quickly. Improvements include new features as well as enhancements. Trials at one of Greycon’s plastic film clients resulted in a waste reduction from 8% to 3% in one instance, results that are in keeping with our goal of striving to maximise efficiencies, be it by improving material utilisation, productivity or rapid responses to unforeseen problems.”
(Greycon Ltd)

Newsgrafik #118526

WestRock Reports Strong Finish to Fiscal 2017  (Company news)

WestRock Company (WestRock) (NYSE:WRK), a leading provider of differentiated paper and packaging solutions, announced results for its fiscal fourth quarter and fiscal year ended September 30, 2017.

Fourth Quarter 2017 Highlights
• Earned $0.76 per diluted share and $0.87 of adjusted earnings per diluted share. Our effective tax rate was 20.7%, and our adjusted tax rate was 28.4%
• Generated net cash provided by operating activities of $494 million and adjusted free cash flow of $271 million
• Achieved $80 million in year-over-year productivity and a run rate of $840 million of synergy and performance improvements since the merger

Full Year 2017 and Other Highlights
• Earned $2.77 per diluted share and $2.62 of adjusted earnings per diluted share
• Generated net cash provided by operating activities of $1.90 billion and adjusted free cash flow of $1.22 billion
• Achieved $361 million of productivity year-over-year
• Continued our portfolio transformation by:
• Completing five acquisitions, including the acquisition of Multi Packaging Solutions International Limited (“MPS”). These acquisitions:
º Advanced our strategy to provide differentiated, high value-added solutions to our customers and expanded our presence in attractive end markets
º Created opportunities for meaningful synergies and performance improvements, and
º Increased our vertical integration levels
• Selling the Home, Health and Beauty business (“HH&B”) in April 2017. This sale resulted in a pre-tax gain of $193 million and generated net after-tax proceeds of approximately $1 billion
• Executed our disciplined capital allocation strategy:
• Invested $779 million in capital expenditures
• Deployed $2.7 billion to strategic M&A opportunities
• Received $1.0 billion from the sale of HH&B
• Paid $403 million in dividends
• Returned $93 million to stockholders in stock repurchases
• Recently announced a 7.5% increase in our annual dividend

Steve Voorhees (photo), chief executive officer of WestRock, said, “I am pleased with the success the WestRock team achieved in fiscal 2017, with strong productivity and growth in cash flow. While we experienced a challenging cost environment, our team met the challenge and delivered on our objectives across the board, increasing value for customers, employees and stockholders. We are well positioned for a successful fiscal 2018.”

The $449 million increase in net sales was primarily attributable to $235 million of increased Corrugated Packaging segment sales and $245 million of increased Consumer Packaging segment sales. The increased Consumer Packaging segment sales were primarily due to the contribution from the MPS acquisition, and were partially offset by factors that included the absence of net sales from HH&B in the current year quarter due to the sale of HH&B. In addition, Land and Development segment sales declined $25 million.

The $18 million increase in segment income was primarily due to $37 million of increased Corrugated Packaging segment income. This increase was partially offset by $15 million of decreased Consumer Packaging segment income and $4 million of decreased Land and Development segment income. Within the Consumer Packaging segment, the sale of HH&B and the expensing of the MPS acquisition inventory step-up reduced segment income by $9 million and $12 million, respectively. The impact of hurricanes in the fourth quarter of fiscal 2017 reduced segment income by an estimated $15 million in the Corrugated Packaging segment and $12 million in the Consumer Packaging segment.

Restructuring and Other Items
Restructuring and other items during the fourth quarter of fiscal 2017 included the following pre-tax costs and expenses:
• $23 million of restructuring costs primarily associated with the consolidation of operations, including recent acquisitions, severance associated with the future Valinhos corrugated container plant closure in Brazil and on-going costs related to previously closed facilities
• $3 million of acquisition expenses
• $12 million of integration expenses from both current and prior period transactions

Cash Provided From Operating, Financing and Investing Activities
Net cash provided by operating activities was $494 million in the fourth quarter of fiscal 2017, compared to $382 million in the prior-year quarter. Total debt was $6.55 billion at September 30, 2017 and included $282 million for the fair-value of debt stepped-up in purchase accounting. Consistent with WestRock’s disciplined capital allocation strategy, during the fourth quarter, WestRock invested $242 million in capital expenditures, deployed $145 million to strategic acquisitions and paid $102 million in dividends to its stockholders.
(WestRock Companies)

Newsgrafik #118527

UPM and the Government of Uruguay sign an investment agreement to establish a competitive ...  (Company news)

... operating platform for a possible new pulp mill in Uruguay

UPM and the Government of Uruguay have signed an investment agreement, which outlines the local prerequisites for a potential pulp mill investment. The agreement details the roles, commitments and time-line for both parties as well as the relevant items to be agreed prior to the final investment decision.

The agreement defines the requirements for the operating environment of a world-class pulp mill project. The site of the mill would be close to the city of Paso de los Toros, in the department of Durazno in central Uruguay.

A long-term industrial operation requires stable and predictable operational environment. This will be supported by several measures in the areas of regional development, environment, forestry and land planning as well as labour and energy conditions.

Infrastructure development as key enabler
The Government will develop the rail and road network by tendering the construction and long-term maintenance of the network. The total investment by the Government has been reported to be approximately USD 1 billion. This investment is necessary to enable the establishment of efficient logistic infrastructure in the Uruguayan inland. The Government will also promote concession for a terminal specializing in pulp in the Montevideo port with rail access in order to secure reliable and competitive outlet to export markets.

Once the permitting requirements are fulfilled, the Government will grant the mill a free trade zone status, which is necessary to ensure competitiveness on international markets.

UPM will carry out an engineering study and permitting process for a pulp mill with an annual capacity of about 2 million tonnes of eucalyptus market pulp. The preliminary estimate for a pulp mill investment on site is approximately EUR 2 billion.

In addition, a successful project requires off-site investments in plantation land and forestry, road network and nursery capacity, harvesting and transport equipment, rolling stock for the rail, export facilities and human development.

"Robust infrastructure is elemental for industrial development. The Government of Uruguay is stating their serious intent with this agreement and timeline. The agreement sets the foundation for UPM's planning of a state-of-the-art pulp mill investment," says Jaakko Sarantola, UPM's Senior Vice President, Uruguay Development.

Global demand for sustainable pulp continues its strong growth
"A competitive world-class pulp mill must have a solid wood supply, well-working logistic infrastructure and efficient mill operations. The environmental performance of the mill would be secured with competent and engaged personnel and with best available technology. When in operation, the mill, forestry and related activities would employ 8,000 additional people in its full value chain. The operations would also have a significant positive impact on the central and north-eastern regions."

"The signing of this agreement confirms that we are now entering the second preparation phase of this prospect, which is expected to take some 1.5 to 2 years. Achieving significant progress in the implementation of the infrastructure initiatives is critically important for the final investment decision," says Sarantola.

"The world megatrends support a strong growth of the market pulp demand. UPM's customers value the stable quality of the Uruguayan eucalyptus pulp and hence Uruguay could be a competitive alternative for addressing UPM's pulp market opportunities in the 2020s. The possible new capacity in Uruguay would support UPM's multifibre strategy; to serve customers in growing hygiene, packaging and speciality end-use segments," concludes Sarantola.

Newsgrafik #118529

Infinity press fabrics: Improved batt fiber anchorage means reduced fiber loss over the entire ...  (Company news)

... service life

-Consistent running performance thanks to cabled yarn
-Available as seam and endless press fabric
-Fast and easy change of press fabrics

Voith Infinity seam and endless press fabrics use a cabled yarn. For the base structure this means improved batt fiber anchorage, while paper manufacturers benefit from consistent performance over the entire running time. With this latest version of the press fabrics Voith is enabling a consistently high dewatering performance and universally good paper quality.

Thanks to Infinity's modular concept, paper manufacturers can choose between several designs. Infinity can therefore be easily adapted to the special requirements of the respective application. The new press fabric is also available with a seam. The cabled seam has the most efficient twist level in the base fabric with mono loops in the engineered seam area. The seam loops have an identical loop length, roundness and spacing, which makes installing the fabrics faster and simpler.

When changing over the fabric the operator can therefore close the seam quickly and easily, which enables machine downtimes to be reduced by up to 25 percent. Infinity is part of the PressMax range of Voith AdvancedPRODUCTS. Alongside individual products, PressMax offers papermakers the opportunity to enhance the performance of their paper machine through the ideal combination of perfectly matched products.
(Voith Paper GmbH & Co KG)

Newsgrafik #118510

Borregaard to invest in new environmental measures   (Company news)

By investing strongly in various environmental measures, Borregaard will reduce NOx emissions by more than 50 percent from 2018. These measures will be supported by the Norwegian Business Sector’s NOx Fund.

During the past decade, Borregaard has implemented an energy strategy to replace the use of heavy oil with more environmentally and climate friendly energy sources. In the same period, Borregaard has reduced its CO2 emissions by as much as 50 percent. Today Borregaard covers its constant energy needs, mainly in the form of steam, with the reuse of process heat from production, bioenergy and energy recovery from waste.

One of Borregaard’s energy sources is a bioboiler that converts residual products from vanillin and cellulose production to steam. In the process, waste oil is used as supplementary fuel, which is a source of NOx and CO2 emissions. By rebuilding the plant, waste oil will be replaced with natural gas, which is considerably more eco-friendly.

In addition, Borregaard has two spray dryers that dry the water in lignin products to produce powder. Here too the source of energy will be replaced, in this case from propane to a mixture of natural gas and biogas from Borregaard’s biological treatment plant.

These measures are estimated to reduce NOx emissions by up to 100 tons annually, as well as reducing annual CO2 emissions by 14 500 tons. The measures will therefore have a positive effect both in terms of local air quality and greenhouse gas emissions. The project will cost NOK 78 million and receive support from the Norwegian Business Sector’s NOx Fund, which will contribute up to NOK 25.9 million. Completion is scheduled for the last quarter of 2018.
(Borregaard ChemCell)

Newsgrafik #118512

Mimaki heads to InPrint 2017 with the industry's broadest array of industrial printing solutions  (Company news)

Applications range from safety warning labels, identification plates and membrane switches to packaging samples and promotional items

Photo: The recently launched UCJV300-160 all-round UV LED printer/cutter

Mimaki, a leading manufacturer of wide-format inkjet printers and cutting systems, announced that it will be exhibiting at InPrint 2017, the Exhibition for Industrial Print Technology. The fair takes place from 14 to 16 November 2017, in Hall A6 of the Munich Trade Fair Centre in Germany. Mimaki will be located on stand 214 at the show.

Visitors to the Mimaki stand will be able to see first-hand a wide range of industrial-class printing and cutting solutions. Next to that, the company will bring 3D samples that show the potential of the company’s full colour 3D printer for rapid prototyping, mould manufacturing, modelling and more. Applications being shown go from safety or warning labels and name or number plates to membrane switches, packaging samples and promotional items.

“We believe we will have one of the broadest arrays of industrial printing applications at the show,” says Ronald van den Broek, Sales Manager EMEA at Mimaki Europe. “Industrial printing technologies are changing the face of manufacturing, and Mimaki is investing heavily in helping to drive that change. We aim to bring profitable new opportunities to brands and manufacturers across a wide range of industries. We look forward to discussing these opportunities with attendees and hope to inspire them with many new ideas they can take back to their companies.”

Game-changing technologies in the industrial printing market
At the show, Mimaki will be displaying:
-The UJF Series of high-precision UV-curable flatbed printers, which can lay down a base coat of inkjet primer, a base print of white ink, full colour print and a surface coating of clear ink in a single operation. On top of their ability to print on diverse substrates including plastics, wood, metal and glass, these printers are also equipped with innovative Mimaki core technologies, such as 360o direct printing on bottles.
-The CFL-605RT Flatbed Cutting Plotter. Offering both creasing and cutting capabilities, the CFL-605RT is designed with Mimaki’s well-established technology to support immediate finishing of packaging and prototypes with multiple functions, and is the ideal companion to the UJF Series of flatbed printers for a total production solution.
-The recently launched UCJV300-160 all-round UV LED printer/cutter. Equipped with features such as 4-layer lightbox printing, instantly dry ink, low running costs and the ability to print to a wide range of materials, this machine ensures vibrant, eye-catching results suitable for safety warning or instruction labels.
-Samples produced by the Mimaki 3DUJ-553, the world’s first full colour 3D printer capable of printing up to 10 million different colours. It offers white ink and a clear ink overcoat, which adds vibrancy to the printed product and can be combined with colour ink to create half colour transparent models.
-Vacuum forming demonstration using Mimaki’s LUS-350 flexible ink in combination with a vacuum forming machine by Formech. The LUS-350 ink stretches up to 350% when heated to between 120⁰C and 200⁰C. After cooling to room temperature, the ink’s rigidity is restored while securely adhering to the moulded product without cracking or peeling.
-The TS300P-1800 Dye Sublimation Printer, which delivers industry-leading speed, quality and throughput for a wide range of textile and fashion uses. It can print on very lightweight transfer paper for lower running costs with a powerful vacuum feed platen that reduces cockling.

“At InPrint 2017, visitors will see an extensive assortment of innovative digital printing and cutting solutions that are changing the face of the industrial market,” van den Broek adds. “And this is just the beginning! Adopting these digital technologies now gives brands and manufacturers an edge in a rapidly-evolving market, and Mimaki is dedicated to continuing to innovate far into the future.”
(Mimaki Europe B.V.)

Newsgrafik #118513

Resolute Reports Preliminary Third Quarter 2017 Results  (Company news)

-Q3 GAAP net income of $24 million or $0.26 per share
-Adjusted EBITDA of $118 million
-Further debt repayments, liquidity at $400 million

Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) reported net income for the quarter ended September 30, 2017, of $24 million, or $0.26 per share, compared to net income of $14 million, or $0.15 per share, in the same period in 2016. Sales were $885 million in the quarter, essentially unchanged from the third quarter of 2016. Excluding special items, the company reported net income of $31 million, or $0.34 per share, compared to net income, excluding special items, of $15 million, or $0.17 per share, in the third quarter of 2016.

"This quarter's solid performance builds on the momentum established earlier in the year," said Richard Garneau (photo), president and chief executive officer. "Our results benefitted from continued strength in our market pulp and wood products segments as well as from substantial improvements in the cost position of our paper segments following capacity closures and restructuring of operations announced earlier this year. In tissue, our sales effort continues to progress, but our results were negatively impacted by Hurricane Irma."

Operating Income Variance Against Prior Period
The company recorded operating income of $48 million in the quarter, an improvement of $95 million compared to the second quarter of 2017, as adjusted EBITDA increased to $118 million from $83 million in the previous quarter.

The company's operating results were positively impacted by increases in sales of market pulp and wood products, where shipments and pricing improved compared to the previous quarter. Profitability was also supported by lower manufacturing costs and savings derived from the closure of a high cost machine in our specialty papers segment, resulting in operating margin improvements that offset volume declines.

The company incurred $21 million of closure costs, impairment and other related charges, and inventory write-downs in the third quarter linked primarily to the permanent closure of two paper machines at Calhoun (Tennessee). This compares favorably to the $65 million recorded in the second quarter.

Market Pulp
Operating income in the market pulp segment was $19 million, $3 million more than the second quarter. Realized prices continued to rise from the lows of 2016, reaching $650 per metric ton, an increase of $18 per metric ton, or 3%, when compared to the previous quarter. Shipments to third parties rose by 12,000 metric tons, largely resulting from reduced annual maintenance outages. The operating cost per unit (the "delivered cost") rose by $12 per metric ton, reaching $595 per metric ton. This was the result of the relative strengthening of the Canadian dollar and a lower contribution from cogeneration operations. EBITDA per unit was $78 per metric ton compared to $71 per metric ton in the previous quarter. Finished goods inventory rose by 6,000 metric tons.

In our tissue segment, which includes only the former Atlas tissue operations in Florida, the operating loss increased by $2 million compared to the second quarter. While pricing remained essentially unchanged, the delivered cost increased by $160 per short ton, mostly as a result of facility damage and approximately 10 days of business interruption associated with Hurricane Irma. Overall shipments were largely unchanged, with inventories drawn down by 2,000 short tons.

Wood Products
The wood products segment recorded operating income of $64 million for the quarter, an improvement of $19 million compared to the previous quarter. With supply disruptions owing mostly to forest fires in British Columbia, shipments increased by 22 million board feet, reaching 531 million board feet for the quarter. The average transaction price rose by $27 per thousand board feet to $413. The delivered cost improved by $8 per thousand board feet, mostly a result of higher volumes. EBITDA for the segment was $73 million, a $21 million increase from the previous quarter, and equivalent to $137 per thousand board feet, compared to $102 in the second quarter. Finished goods inventory declined by 3 million board feet to 122 million board feet.

The newsprint segment incurred an operating loss of $6 million in the quarter, compared to a loss of $7 million in the second quarter. Pricing increased slightly to $511 per metric ton. Shipments fell by 9,000 metric tons, mostly due to downtime at Baie-Comeau (Quebec) and Augusta (Georgia). The delivered cost in the segment was largely unchanged compared to the previous quarter, as lower maintenance costs and higher contributions from cogeneration were mostly offset by the impacts of the strengthening Canadian dollar. EBITDA was unchanged at $10 million for the quarter, equivalent to $26 per metric ton. Finished goods inventory fell by 16,000 metric tons.

Specialty Papers
The specialty papers segment recorded operating income of $7 million during the third quarter, an improvement of $14 million from the previous quarter. The average transaction price rose by $8 per short ton. Despite continued declines in demand and the closure of a coated paper machine in Catawba (South Carolina) at the end of the second quarter, shipments of specialty papers fell by only 16,000 short tons in the third quarter. The segment's delivered cost decreased by $34 per short ton. This was mostly derived from the elimination of $11 million in cost associated with the restructuring at Catawba in the second quarter. EBITDA was $18 million in the quarter, equivalent to $54 per short ton, an improvement of $43 per short ton compared to the previous quarter. Finished goods inventory declined by 8% to 86,000 short tons.

Consolidated Quarterly Operating Income Variance Against Year-Ago Period
The company recorded operating income of $48 million for the third quarter, compared to operating income of $10 million for the same period in 2016. The difference is mostly a result of higher volumes and pricing in our market pulp and wood products segments, which benefited from favorable market dynamics when compared to the year-ago period, as well as improvements in operating costs, particularly in our paper segments.

Overall, pricing gains were $50 million, as $58 million from our wood products and pulp segments was slightly offset by reductions in specialty papers ($4 million), newsprint ($3 million) and tissue ($1 million). Combined volume growth in wood products and market pulp was equivalent to $7 million in the quarter while decreased volumes in newsprint, specialty papers and tissue, resulted in a negative variance of $13 million during this same period.

Our overall cost position, net of volume impacts, improved by $18 million compared to the third quarter of 2016 and is mostly attributable to reductions associated with capacity closures in our paper segments.

Corporate and Finance
The company invested $20 million on capital expenditures in the quarter. $7 million was spent on the Calhoun tissue project. We made countervailing duty deposits of $19 million in the third quarter which were recorded on our balance sheet, of which $14 million were attributable to softwood lumber and $5 million to supercalendered papers.

Despite higher net pension and OPEB contributions due to timing as well as a seasonal increase in working capital, which were $37 million and $28 million, respectively, the company repaid an additional $7 million on its revolving credit facilities. We repaid a further $30 million since the end of the third quarter. However, due mainly to additional letters of credit required in connection with trade disputes, total liquidity declined by $14 million and stood at $400 million at the end of September.

Mr. Garneau added: "We have announced further price increases in our pulp and paper segments in the fourth quarter and anticipate continued gains from our restructuring measures, which should provide solid cash flow generation in the short-term. Although we continue to make progress in our tissue business, we do not believe that this segment will contribute to our results until the middle of 2018. For wood products, we believe that market fundamentals will remain favorable."
(Resolute Forest Products Inc.)

Newsgrafik #118516

Toscotec - rebuilt tissue machine starts up at Correll Tissue, in Durban, South Africa  (Company news)

On 14th October, after a comprehensive rebuild supplied by Toscotec, PM1 at Correll Tissue in Durban successfully started up.

The scope of supply included a modification of the existing Fourdrinier tissue machine into a MODULO Crescent Former with a new TT Headbox-SLT (photo). The delivery also included a rebuild of the existing approach flow system and of the felt run, as well as the YD doctoring system. In 2006 Toscotec had already supplied a new TT SYD to the mill.

The rebuild boosted the machine speed to 650 mpm, for the production of high-quality tissue mainly from waste paper, produced by the extensive printing operations of Novus Holding, one of the most technologically advanced print manufacturing operations in Africa. Complete engineering, erection, commissioning, training service and start-up assistance were also included in the order.

“We are glad to partner with such an important tissue producer. Our technology turned out to be the right solution for the customer’s need.” said Marco Dalle Piagge, Sales Director of Toscotec S.p.A..
Conrad Rademeyer, Group Executive, stated: “We are now ready to deal with new market challenges and we are looking forward to achieve great and new results in terms of productivity as well as in terms of machine performance. The new machine will give us the flexibility we need to get a competitive advantage in the market.”
(Toscotec S.p.A.)

Newsgrafik #118517

Ricoh announces launch of compact high speed inkjet platform  (Company news)

Print services providers can produce profitably a wide range of applications from transactional print such as bills, statements and policy documents to books, direct mail and pharmaceutical leaflets with the new Ricoh Pro™ V20000 series continuous feed inkjet platform.

The compact, versatile and simple to use family of systems brings competitive mono and colour production to existing users of continuous feed printers as well as sheet fed users who are looking to consolidate the output of multiple devices to a single machine. With a footprint of just 4.3 square metres, it can fit in to almost any production environment.

Users with different volume requirements can benefit from the three versions being announced: the 75 metres per minute, 600 x 600 dpi mono Ricoh Pro V20000, the 150mpm, 600 x 600 dpi mono Ricoh Pro™ V20100 and the 75mpm, 600 x 600 dpi CMYK Ricoh Pro™ VC20000.

An additional user benefit is that this family of inkjet printers will work with a wide variety of papers including the lightweight materials required in the pharmaceutical industry. In addition, they are optimised to combine with inline finishing solutions where the ability to change speed to match the capability of each device helps to maximise production and minimise paper waste.

Tim Taylor, Head of Continuous Feed Market, Commercial and Industrial Printing Group says: “The Pro V20000 platform is a great addition to our portfolio. It joins the Ricoh Pro™ VC40000, which was announced earlier this year, and Ricoh Pro™ VC60000 continuous feed inkjet printers, meaning we have a system that suits the production requirements of almost any operation.”

He continues: “The easy to run systems also offer an upgrade path for existing toner-based operations. The improved operational efficiency, increased running speeds and significantly lower running costs often mean one inkjet device can replace several ageing toner machines.

“We are also excited by the number of additional markets it can help our clients competitively service when used in combination with Ricoh software. For example, it enables intelligent and efficient book production when combined with our TotalFlow BatchBuilder software and, with a combination of FusionPro and Ricoh Process Director, we can provide a complete and secure pharmaceutical solution.

“As with Ricoh’s complete family of inkjet and toner devices Pro V20000 users will benefit from our knowledgeable and responsive service and support network. It will help ensure clients develop all possible revenue streams to maximise their investment.”

The Pro V20100 will be shown for the first time at Ricoh’s The Art of The New event, November 21 to 23, Ricoh’s Customer Experience Centre, Telford, UK.
(Ricoh Europe PLC)

Newsgrafik #118493

Mimaki brings 3D printing innovation for their debut at formnext 2017  (Company news)

Full-colour modelling of prototypes and scale models with more than 10 million colours

Mimaki, a leading manufacturer of wide-format inkjet printers and cutting systems, announced that it would be exhibiting for the first time at formnext 2017, the international exhibition and conference on the next generation of manufacturing technologies. The trade fair is scheduled for 14 to 17 November in Frankfurt. Mimaki will be located in Hall 3.1, stand C88.

formnext 2017 marks the first unveiling to the 3D industry of the Mimaki 3DUJ-553, the world’s first full-colour 3D printer capable of printing up to 10 million different colour combinations with ICC profiling. The company will also be showing the Mimaki UJF-7151plus UV LED direct-to-object flatbed printer to demonstrate their advanced UV inkjet printing technology, which serves as the base of their 3D technology.

“Making the leap from UV-curable 2D inkjet printing devices to 3D printing was a logical step for Mimaki,” said Ronald van den Broek, Sales Manager EMEA at Mimaki Europe. “Mimaki has dedicated significant R&D resources to our 3D development efforts, and the 3DUJ-553 is our first foray into the 3D market. We’re using a unique technique, based on our highly successful UV inkjet printing technology. This technology is already being used in a wide range of 2D UV flatbed and roll-to-roll printers that create signs, display graphics, promotional items and more.”

The Mimaki 3DUJ-553 printer jets successive layers of ink, which are instantly cured by UV light until the object is fully formed. Fine layers accumulate on the build tray to create one or several precise 3D models or parts. Where overhangs or complex shapes require support, the 3D printer jets a removable support material. It uses LED curing for reduced energy usage and is differentiated from other 3D printers in a number of aspects, including:
-The ability to print full-colour objects with more than 10 million colours. Colour profiles can be used to ensure accurate and consistent colour. This means no overpainting is required, saving time and labour.
-It offers white ink, as well as a clear ink overcoat that adds vibrancy to the printed product. Its clear ink can also be combined with colour ink to create half colour transparent models.
-Its support materials can be removed with a simple water wash, eliminating the need to manually cut tags or other support structures.
-It features a maximum build size of 50 x 50 x 30 cm, larger than comparable 3D printers.

Drawing upon its many years of UV-curable inkjet printing in the 2D world, Mimaki has also equipped the 3DUJ-553 with its proprietary core technologies, including ink circulation system to prevent clogging and Nozzle Checking Unit (NCU). Printhead nozzles are automatically checked for any malfunction, with an effective nozzle substitution strategy that enables continuous printing, even if a nozzle is not operating correctly. In addition, the printer is equipped with an internal monitoring camera that enables operators to monitor the progress of the printing.

Combining 3D printing with 2D printing for added value
Also on display will be the Mimaki UJF-7151plus flatbed UV printer. Geared to on-demand printing of the very highest quality at industrial production levels of output, the UJF-7151plus is ideal for decorative printing on 3D models as well as multi-layer printing on diverse materials, ranging from plastics and glass to metal and wood. The Mimaki 3DUJ-553 is based on the same proven technology that Mimaki has successfully deployed to the market with the UJF-7151plus flatbed UV printer.

“As Mimaki moves into the world of 3D printing and additive manufacturing,” van den Broek added, “we are looking forward to our first participation in this important industry event. It’s a great opportunity to speak with attendees about the exceptional possibilities that our technologies bring to their businesses, offering quality, speed to market and reduced costs that will add competitive differentiation for both brands and manufacturers.”
(Mimaki Europe B.V.)

Newsgrafik #118494

Graphic Packaging Holding Company Reports Third Quarter 2017 Results  (Company news)

-Q3 Net Sales were $1,137.6 million versus $1,103.7 million in the prior year period.
-Q3 Net Tons Sold were 743.1 thousand tons versus 721.6 thousand tons in the prior year period.
-Q3 Earnings per Diluted Share were $0.15 versus $0.18 in the prior year period.
-Q3 Adjusted Earnings per Diluted Share were $0.18 versus $0.20 in the prior year period.
-Q3 Net Income was $47.3 million versus $57.8 million in the prior year period.
-Q3 Adjusted EBITDA was $188.3 million versus $200.1 million in the prior year period.
-Returned $25.8 million to stockholders in Q3 through dividends and share repurchases.

Graphic Packaging Holding Company (NYSE: GPK), (the "Company"), a leading provider of packaging solutions to food, beverage and consumer product companies, reported Net Income for third quarter 2017 of $47.3 million, or $0.15 per share, based on 310.9 million weighted average diluted shares. This compares to third quarter 2016 Net Income of $57.8 million, or $0.18 per share, based on 320.4 million weighted average diluted shares.

Third quarter 2017 Net Income was negatively impacted by $7.5 million (net of a $3.8 million tax benefit) of charges associated with business combinations, shutdown and other special charges, and accelerated depreciation related to the announced shutdown of the Santa Clara, California mill. When adjusting for these charges, Adjusted Net Income for the third quarter of 2017 was $54.8 million, or $0.18 per diluted share. This compares to third quarter 2016 Adjusted Net Income of $64.0 million or $0.20 per diluted share.

"Third quarter Adjusted EBITDA met our expectations at $188 million compared to $200 million in the prior year period. Net Tons Sold were up 3.0%, reflecting an acquisition and modestly positive core volumes. Despite challenges from the hurricanes that resulted in higher freight and chemicals costs, the business performed well in the quarter with a continued emphasis on operating efficiencies and cost reduction" said President and CEO Michael Doss (photo).

"We completed the Carton Craft acquisition on July 10, 2017, and the Norgraft acquisition on October 4, 2017. We also announced the closure of our Santa Clara, California coated recycled paperboard mill in early September. This action was enabled by strategic capital investments that have greatly enhanced the flexibility across our Midwest coated recycled paperboard mills, as well as our West Monroe, Louisiana and Macon, Georgia coated unbleached kraft paperboard mills. We remain committed to a balanced capital allocation strategy, which includes reinvesting in our business to drive strong cash returns on cash invested, strategic acquisitions at compelling post-synergy multiples, and returning cash to stockholders."

Operating Results
Net Sales
Net Sales increased 3.1% to $1,137.6 million in the third quarter of 2017, compared to $1,103.7 million in the prior year period. When comparing against the prior year quarter, net sales were positively impacted by $29.7 million of improved volume/mix related to an acquisition and modestly positive core volumes, and $7.8 million of favorable foreign exchange. These benefits were partially offset by $3.6 million of lower pricing.

EBITDA for the third quarter of 2017 was $184.1 million, or $7.1 million lower than the third quarter of 2016. After adjusting both periods for expenses associated with business combinations and other special charges, Adjusted EBITDA decreased as expected to $188.3 million in the third quarter of 2017 from $200.1 million in the third quarter of 2016. When comparing against the prior year quarter, Adjusted EBITDA in the third quarter of 2017 was positively impacted by $9.9 million of improved net operating performance and $6.4 million of favorable volume/mix. These benefits were more than offset by $17.7 million of commodity input cost inflation, $6.7 million of other inflation (primarily labor and benefits), $3.6 million of lower pricing, and $0.1 million of unfavorable foreign exchange rates.

Other Results
Total Debt (Long-Term, Short-Term and Current Portion) increased $60.7 million during the third quarter of 2017 to $2,288.1 million compared to the second quarter of 2017. Total Net Debt (Total Debt, net of Cash and Cash Equivalents) increased $56.0 million during the third quarter of 2017 to $2,270.9 million compared to the second quarter of 2017. At quarter end, the Company's Net Leverage Ratio was 3.27 times Adjusted EBITDA compared to 2.76 times at the end of 2016.

At September 30, 2017, the Company had available global liquidity of $1,109.6 million, including the undrawn availability under its global revolving credit facilities.

Net Interest Expense was $22.6 million in the third quarter of 2017, up compared to the $20.0 million in the third quarter of 2016, reflecting higher interest rates.

Capital expenditures for the third quarter of 2017 were $53.3 million compared to $72.4 million in the third quarter of 2016.

Third quarter 2017 Income Tax Expense was $25.9 million compared to $28.0 million in the third quarter of 2016.

Please note that a tabular reconciliation of EBITDA, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Net Income, Total Net Debt and Net Leverage Ratio is attached to this release.
(Graphic Packaging Holding Company)

Newsgrafik #118496

Fujifilm to demonstrate a comprehensive range of industrial inkjet technology at InPrint 2017  (Company news)

Fujifilm announces that it will use InPrint 2017 in Munich, Germany, to showcase a range of FUJIFILM Inkjet Technology solutions for the industrial print market. Products to be featured on the stand include SAMBATM piezo-electric printheads, proprietary UV, aqueous and hybrid inks as well as world-class software and systems integration expertise that have led to Fujifilm fast becoming the supplier of choice for manufacturing partners and innovators right across the industry.

The stand will host a number of live demonstrations across the three days of the show. These will include a high speed roll-to-roll purpose-built test platform producing variable data prints using the Fujifilm SAMBATM mini 4300 print system with LED inks. There will also be a static presentation of the larger SAMBATM 42000 Printbar (photo) with animated application video. The demonstrations will highlight how Fujifilm inkjet technologies can be fully integrated for high performance, high productivity industrial and packaging applications to produce outstanding results.

To further demonstrate Fujifilm's technology in action, live demonstrations of the new Fujifilm Acuity B1 sheet fed UV inkjet printer, first showcased at FESPA earlier in the year, will take place on the stand. Being demonstrated again as a technology preview, the Acuity B1 has linear architecture combined with a scalable modular design to allow for the incorporation of additional pre or post-coating equipment, making it ideal for demanding industrial applications. At the heart of the Acuity B1 are Fujifilm printhead and UV ink technologies which provide an unmatched ability to deliver fast, high quality print across a wide range of materials, with the printer being equipped with full head array scanning and LED pinning. The Acuity B1 is ideal for companies looking to integrate inkjet technology into their manufacturing processes.

Bailey Smith, Senior Director of Business Development at Fujifilm Dimatix, comments: “On the stand this year, Fujifilm is focused on showcasing print systems using world-class Fujifilm printheads, inks and inkjet competence. These products are transforming businesses in the industrial and packaging markets today.” He adds: “Fujifilm is pleased to be back in Munich - we recognize the region's importance to the German manufacturing sector and look forward to demonstrating how businesses can benefit from integrating Fujifilm's inkjet technologies into their manufacturing processes.”
(Fujifilm Europe GmbH)

Newsgrafik #118497

Sun Chemical demonstrates the breadth of its capability in Industrial print applications at InPrint   (Company news)

Sun Chemical will be presenting a unique range of products and expertise for functional, industrial and specialty print applications in Hall 6, stand 243, at InPrint 2017, 14 – 16 November in Munich, Germany.

SunJet, the global inkjet brand of Sun Chemical and DIC, will demonstrate its latest developments in inkjet chemistry and its ability to collaborate in development projects with OEM partners, system integrators and print head manufacturers for all current & future applications in a broad range of market sectors, including graphics, décor, textile, industrial and packaging.

Sun Chemical Advanced Materials will present its SunTronic range of products developed to cater for the growth in printed electronics and touch-screen technology applications. The range includes new conductive solutions incorporating nano-silver particles for improved sinter at lower temperatures, advanced dielectric materials as well as its latest etch-resist solutions and masks.

Also on display at InPrint will be an established range of Sun Chemical’s industrial products including:
SunHytek – heat and humidity-resistant ink solutions for high-tech, appliance panel and automotive applications, for which a combination of high visual impact and long-term durability is required.

SunCarte® – high peel strength, colour-consistent screen and offset inks, adhesives and varnishes for laminated plastic cards

SunPoly® – screen inks formulated for high-speed screen printing on a variety of container substrates.

Drawing on their combined technical expertise, knowledge and understanding of the diversity of end-user industrial-based applications, the Sun Chemical teams will showcase their range of leading ink solutions and inkjet chemistries used extensively in applications within the automotive, high technology, interior décor, metal and plastics decoration, direct to product, functional print and printed electronic industries.

A further highlight is Sun Chemical’s nano-silver ink, which has been designed for use with industry-leading inkjet and aerosol jet systems in printed electronics. Sun Chemical’s nano-silver inks deliver the industry’s best performing, low temperature sintering properties and the unique chemistry offers long open life, superior jetting performance and compatibility with most commercial and industrial printheads. With Sun Chemical’s nano-silver inks, it now becomes possible to work with one nano-silver from prototype to production.

Sun Chemical is also showing DIC’s proprietary SEPAREL® hollow fibre membrane technology for the degassing (removal of dissolved gasses) of inkjet ink, resulting in consistently smooth printing, reduced substrate and ink waste, shortened printer cleaning times and lower printer cleaning costs. Unlike traditional microfiltration membranes, SEPAREL® hollow fibre membranes significantly reduce inkjet ink evaporation during degasification and can degasify inkjet ink at any parts per billion (ppb) level.

During the event, Phil Jackman, Product Manager at Sun Chemical’s specialist global inkjet brand, SunJet, will deliver a presentation entitled Ink Developments for Digital Décor Print, which will look at how advances in ink technology are helping to drive the growth of digitally printed décor, including printing on to paper for melamine impregnation and also printing direct to wood-based panels.

Commenting on Sun Chemical’s participation in InPrint 2017, Peter Saunders, Global Business Director at SunJet, says: “As an enabler for many industrial-based applications, inkjet technology is finding itself increasingly used in, or alongside, all manner of manufacturing processes, and it is this exciting future that continues to drive our commitment in the research and development of ground-breaking solutions to cater for this growing demand.

“Our collaborative approach will enable visitors to our stand to benefit from a unique perspective and market insight in to cutting edge innovation and future technology development that will help to improve manufacturing processes, increase competitive advantage and elevate their own market positioning through creative product innovation.”

Visit Sun Chemical in Hall 6, stand 243 at InPrint 2017 from 14 to 16 November in Munich.
(Sun Chemical European Headquarters)

Newsgrafik #118498

Pöyry PLC: Appointment to Pöyry's Group Executive Committee  (Company news)

Dorien Terpstra, 38, MSc in Strategy & Organization, has been appointed Executive Vice President, Head of Strategy and Transformation and member of the Group Executive Committee of Pöyry PLC as of 8 January 2018. She will report to Martin à Porta, President and CEO of Pöyry.

Dorien Terpstra is currently Head of Project Execution for Siemens Netherlands. She will succeed Anja McAlister in the position of Executive Vice President, Head of Strategy and Transformation. Anja McAlister has stepped down from Pöyry's Group Executive Committee for family reasons, as announced on 4 August 2017.

"I am very pleased to welcome Dorien Terpstra to Pöyry and to the Group Executive Committee. I look forward to seeing the energy, commitment and expertise she brings to our transformation program, driving our strategy to create a high performing organisation that brings exceptional value to our clients. It is excellent that in Dorien we have found an executive who brings deep project execution, team leadership, strategy and transformation know-how from her broad international experience across diverse organisations, and I wish her every success in her new role", says Martin à Porta.

Following this change, Pöyry's Group Executive Committee will be increased to five members.

Members of the Pöyry PLC's Group Executive Committee as of 8 January 2018:
-Martin à Porta, President and CEO, Chairman Regional Operations (acting), President Management Consulting Business Group (acting)
-Dorien Terpstra, Executive Vice President, Head of Strategy and Transformation
-Richard Pinnock, Executive Vice President, President Energy Business Group and Global Sales and Project Management
-Nicholas Oksanen, Executive Vice President, President Industry Business Group
-Juuso Pajunen, Executive Vice President and Chief Financial Officer
(Pöyry Plc, Forest Industry Business Group)

Newsgrafik #118499

Ahlstrom-Munksjö: Windsor Locks 250 Years  (Company news)

We are celebrating the 250th anniversary of the Windsor Locks plant. It is the home of many innovations and one of them have lived to the present time - it is the teabag.

Mr. Seth Dexter opened Windsor Locks plant for business in 1767 in the British Colony of Connecticut. Back in the days, the name was Dexter Company and it run a saw and grist mill before expanding into the manufacture of specialty papers. At the time when Ahlstrom acquired Dexter Corporation and Windsor Locks in 2000 Dexter was the oldest company traded on the New York Stock Exchange where it was listed on the 200th anniversary in 1967.

Dexter was the inventor of the technology to make porous teabag paper which was introduced back in the 1930’s and is still produced at the plant today. The company also introduced the first catalogue cover paper. In the second half of the twentieth century the company grew internationally and concentrated on aerospace, automotive, electronics, food packaging and medical markets in the early 1990’s.

With a history that stretches back over two and a half centuries, we are proud of the many generations of employees who have contributed to the company’s success. To acknowledge our longevity and rich history, this year we are celebrating the 250th year anniversary of the Windsor Locks plant.
(Ahlstrom-Munksjö Nonwovens LLC)

Newsgrafik #118531

Positive outlook for corrugated and folding carton industry boosts demand for stand space at ...  (Company news)

... CCE International 2019

There is currently enormous growth potential for the corrugated and folding carton industry, and high demand for stand space at Europe’s only specialised exhibition for this industry sector, CCE International, is reflecting this positive development. The increase in demand for environmentally friendly products, booming online trade and a trend for individualisation and traceability of supply chains are all increasing the production volume for corrugated and folding carton products and open up a variety of new market opportunities.

The previous CCE International, held in March this
year, already put a special focus on future-oriented applications, such as digital print on corrugated and cartonboard, and sophisticated converting techniques. The large number of enquiries for stand space at the next event, which will be held from 12 – 14 March 2019 at the Munich Trade Fair Centre in Germany, shows that innovative application systems are high on the agenda of this industry sector, in order to gain market shares in entirely new product segments.

“Entering diverse markets with enhanced products requires technical know-how and expertise. The technological development of machines, processes and systems for the production and conversion of corrugated and cartonboard has become much faster than just a decade ago. Digitalisation has become a major driver in this industry, too. An exhibition such as CCE International is an important platform for providers of raw materials, machines,
technologies and accessories to market their products to a targeted audience of buyers and users. The event also provides a valuable setting to drive innovation by expert exchange between manufacturers and users of new applications,” explains Nicola Hamann, Managing Director at the organisers, Mack Brooks Exhibitions.

“With its unique focus on corrugated and folding carton, CCE International sets itself apart from more general packaging events. This is the main reason why the exhibition has now established itself as Europe’s premier specialised event for this industry sector. Exhibitors and visitors know that the exhibition is solely about manufacturing solutions for corrugated
and folding carton. The current high demand for sustainable products and new application systems in this sector adds to the success of the show,” says Nicola Hamann.

Some 18 months ahead of the fourth edition of the event, stand reservations are in full swing at the organisers Mack Brooks Exhibitions. Due to t
he positive industry outlook and a high re-booking rate, more than 3,000m2
net stand space is already taken. A total of 150 companies from 23 countries covered a net exhibition space of 4,700m2 at the previous
exhibition. The event attracted 2,130 trade visitors from 67 countries.

Specialised exhibition profile
The exhibitors at CCE International present a comprehensive portfolio of paper (corrugated and cartonboard), consumables, corrugating line, equipment and components, corrugated and carton converting machinery, design and CAD/CAM, printing processes and equipment, cutting, creasing and die cutting equipment, ancillary equipment, material handling and warehousing, pallet strapping and handling systems, MIS and plant scheduling systems, waste extraction and baling, as well as related services.

Visitors come from corrugated board plants and sheet plants, are folding carton converters, packaging designers and specifiers, rigid carton manufacturers, honeycomb board manufacturers, core board and core tube manufacturers or trade agencies.

The exhibition survey at the previous event showed that 93% of exhibitors fully or partially achieved their aims at the show. A total of 85% of
exhibitors received positive business enquiries. The exhibition survey also confirmed the specialisation and decision-making capacity of the visitors: 77% of the visitors influence or make purchasing decisions and every
second visitor came to the show with definite investment plans.

Information for exhibitors
Companies interested in exhibiting at CCE International 2019 will find detailed information on the newly designed multi-lingual exhibition website where an exhibitor brochure can be ordered. The exhibition will feature a series of open seminars on the latest industry topics and will be held in hall B6 at the Munich Trade Fair Centre, Germany.

Once again, the 11th edition of ICE Europe, International Converting Exhibition, will be held in halls A5 and A6 in parallel to CCE International.
Detailed information about CCE International is available on the exhibition website
(Mack Brooks Exhibitions Ltd)

Newsgrafik #118480

Phipps Label Co. invests in the all new Nilpeter FA  (Company news)

Picture: Greg Phipps of Phipps Label Co, and Bob Loescher of Nilpeter, standing by the all new FA on the assembly line at Nilpeter USA in Cincinnati, OH

Phipps Label Company was founded by Greg Phipps in the spring of 1990. A long-time veteran of the label printing industry and a hands-on guy, Greg wanted more control of the quality of the labels he was delivering. Hard-working employees and loyal customers have been the key to growing the business into its current 35,000-square-foot facility that houses six high-performance presses, versatile finishing equipment and the latest in digital printing technology. The new FA will be a welcome addition.

“We were looking to continue our growth pattern which required us to increase our capacity and efficiency, and provide more flexibility in our product offerings. After we saw the new FA perform for the first time, we knew exactly what we needed to do,” says Greg Phipps, Owner and President, Phipps Label Co. ”Right from the start of the Nilpeter factory tour, we could see how this press was different. With the automated machining centres producing one-piece steel modules all at once, this press is just built different, and it shows. The level of performance and efficiency is exactly what we were looking for. The FA’s make-ready times are reduced so much through the job save and recall functions and the one piece inking system provides the absolute fastest setup times. This press will change the way we can deliver to our customers and keep us one step ahead of their needs,” Greg Phipps concludes.

The All New FA is Nilpeter’s latest offering from the FA-Line. Providing clean-hand operations through wireless controls and the most sophisticated Industry 4.0 automated setup. The new FA is a next generation platform meeting the ever-growing needs of the modern press operator – offered in multiple levels of automation and production requirements. The FA is tailored to meet the printer’s exact needs for today and can be enhanced later on with add-on Application and Automation Packages.
(Nilpeter USA Inc.)

Newsgrafik #118484

In-mould labels with a plus in efficiency – Heidelberg presents new Speedmaster XL 106-DD ...  (Company news)

...rotary die-cutter

-Double the throughput, half the makeready times and tool costs
-One pass productivity: completely die-cut in-mould labels for further processing in a single pass
-Fully flexible: Speedmaster XL 106-DD processes plastics and paper
-Heidelberg presents the entire range of solutions for in-mould, wet glue, and self-adhesive labels at the Label Day and LabelExpo

Photo: Downright double the throughput, half the makeready times and costs for die cutting tools: The new Heidelberg Speedmaster XL 106-DD rotary die-cutter offers a significant productive boost for the production of in-mould labels and other elements of packaging.

The in-mould label market is continuously growing globally at around 4.3 per cent (Awa Global Inmould Study 2017), and more than two thirds of the worldwide production is required for food packaging. Heidelberger Druckmaschinen AG (Heidelberg) is now offering an enhanced rotary die-cutter based on the XL technology, in addition to food-safe, highly efficient print production. The Speedmaster XL 106-DD unites two key production steps in a single machine – a unique combination in the market. The rotary die-cutter’s first unit places the injection hole in the label for the subsequent production process by means of a die on a magnetic cylinder with maximum precision. Even the tiniest holes of five millimeters diameter or more are possible. Up to now, this was a separate step that consequently extended the production time of the respective job.

The cut out material is safely and reliably removed by means of an extraction system. The second unit of the XL 106-DD subsequently cuts out the contour of the label from the sheet. At the end of the day, this combination of the two production steps in a single pass means a downright doubling of the die-cutting throughput, while makeready times and costs for die cutting tools can be reduced to half of the previously required.

The XL 106-DD processes foils and paper with thicknesses of 0.05 to 0.3 mm at a throughput of 6,000 to 10,000 sheets per hour – almost twice as fast than a flatbed die-cutter. The costs for die cutting tools are usually in the range of EUR 300 to 1,000, and the machine is typically set up in 15 minutes.

Injection holes of five millimeters diameter and more can be cut, thus all the needs that are customary in the industry can be met. Apart from in-mould labels, the XL 106-DD can also cut plastic or paper packaging elements, such as POS items which, due to their design, need a “window” or hole for mounting in the shelf or for attaching to the product.
(Heidelberger Druckmaschinen AG)

Newsgrafik #118485

Metsä Board recognised by CDP as a global leader in sustainable water management and ...  (Company news)

... climate action

Metsä Board has once again been rewarded a position on the CDP Water A List as well as on the CDP Climate A List. This is the third consecutive year that the company has been included on the CDP Water A List and the second year on the CDP Climate A List. Metsä Board also achieved Leadership status in the CDP Forest programme for the third year in a row. CDP is a non-profit global environmental disclosure platform.

Metsä Board is among the top 10% of companies participating in CDP’s water programme to be placed on the Water A List. This achievement is in recognition of its actions in the last reporting year to manage water more sustainably. Additionally, Metsä Board is among the top 5% of companies participating in CDP’s climate change programme to be featured on the 2017 Climate A List. This positioning recognises its activities to cut emissions, mitigate climate risks and develop the low-carbon economy.

“We’re delighted that Metsä Board was once again rated among the world’s best performing companies by CDP,” says Mika Joukio (photo), CEO of Metsä Board. “Sustainability actions should be initiated and driven by the company’s top management to ensure engagement throughout the business. For Metsä Board the reduction in CO2 emissions and water usage have also delivered overall cost efficiencies along with sustainability benefits.”
(Metsä Board Corporation)

Newsgrafik #118486

Ence reaches a net profit of 59.5 million euros between January and September, 183% more   (Company news)

-The success in executing its Strategic Plan and the good performance of pulp prices leads Ence to triple its profit almost in the first nine months of the year.
-The lack of significant new capacity increases in the world market anticipates high pulp prices in the next three years. Ence climbs to $ 970/ton the price of its cellulose as of November, from $ 670/t in September 2016.
-The efficiency improvement continues: the cost of production was reduced by 4.4% to € 346.7/t, despite the increase of € 9/t of the cost of wood that is linked to the prices of pulp.
-Recurring free cash flow reached € 92.1 million (+ 84.7%) and net financial debt decreased by 15.9%. The leverage was reduced up to 1 time EBITDA, compared to 3.6 times the sector average.

Ence-Energía y Celulosa achieved a net profit of € 59.5 million between January and September 2017, practically triple that the same period in 2016. Success in the execution rate of its Strategic Plan, with a strong increase in capacity in the Energy business and cost reduction, together with the increase in the price of pulp, explain this significant growth in profits. In addition, the company has announced new increases in the price of its pulp that will be $ 970/t as of next November, compared to $ 670/t in September 2016.

Ignacio Colmenares, CEO of Ence, said that "the good results show the success of the measures of the company's Strategic Plan and the soundness of our business model. This, together with the progress in reducing costs and the excellent behavior of pulp prices, which will remain high for the next 3 years, allows us to forecast that Ence's EBITDA will exceed 210 million € in 2017 with the current market conditions".

In the first nine months of the year, Ence's EBITDA reached 147.7 million euros (+ 77.1%). The Cellulose business improved its result by 73.7% and that of Energy increased by 89.8%. Cellulose production costs continue to fall: they fell to € 346.7/t (-4.4%), despite the fact that the cost of wood increased € 9/t. Free cash flow reached € 92.1 million (+ 84.7%), and net financial debt fell to € 183 million in September 2017, 15.9% less than in December 2016. The financial situation was reduced to 1 time EBITDA, well below the average 3.6 times of Ence's competitors.
(Grupo Empresarial ENCE S.A. Divisíon de Celulosa)

Newsgrafik #118487

Ahlstrom-Munksjö achieves ISO 50001:2011 certification for its Rottersac and Stenay sites in France  (Company news)

Rottersac and Stenay specialty papers production sites have obtained ISO 50001:2011 certification for their Energy Management System (EnMS) from SGS. Energy efficiency is a critical environmental performance indicator that helps to achieve cost optimization as well as helping to preserve resources.

Achievement of this certification is consistent with the company strategy aiming to efficiently utilize its production and service platform to develop customer-specific solutions in a sustainable manner.

“In our production units, energy is assessed using both the input of electricity and heat energy. EnMS is a tool that enables us to implement continuous improvement plans in using energy more efficiently, including a better measuring and analyzing of our sites energy consumption. These two certifications emphasize our long-term commitment to a more sustainable world.”, comments Anders Hildeman, Senior Vice President Sustainability.

13 sites at Ahlstrom-Munksjö are today ISO 50001:2011 certified. Target is to get all major sites approved ISO 50001 by 2020.

Rottersac site has approximately 200 employees and manufactures specialty papers for food and non-food flexible packaging, repositionable notes, transparent envelope windows and other industrial applications. It has a complete quality, safety and sustainability framework as also certified according to ISO 9001:2008, ISO 14001:2004, OHSAS 18001:2007, ISO 22000:2005, FSC® and PEFC™ Chain-of-Custody standards and now ISO 50001:2011.

Stenay site has approximately 220 employees and is specialized in the manufacturing of one-side coated papers for food and non-food flexible packaging, wet-glue or self-adhesive labels, metallizing, release liners and other industrial applications. The plant is now certified according to ISO 9001:2008, ISO 14001:2004, OHSAS 18001:2007, FSC® and PEFC™ Chain-of-Custody and ISO 50001:2011.

Rottersac and Stenay sites are part of the Specialties Business Area at Ahlstrom-Munksjö.
(Ahlstrom-Munksjö Rottersac SAS)

Newsgrafik #118524

August Koehler SE paper mill trusts in Voith  (Company news)

-Investment in “Flexible Packaging”
-Efficient large-scale production of thermal papers and flexible packaging papers

The August Koehler SE paper mill has awarded Voith the order for a new production line for machine-glazed specialty papers. Line 8 is to be installed at the company's Kehl facility and consists of a BlueLine stock preparation unit, wet end process, XcelLine paper machine, offline coating machine and VariPlus winder. Designed for up to 120,000 metric tons per year, Line 8 will produce a flexible range of thermal papers and flexible packaging papers and will therefore be one of the most efficient specialty paper machines in the world when it goes into operation from the summer of 2019.

The priorities for the German specialty paper manufacturer were the flexible production of various qualities of thermal and packaging papers combined with high machine efficiency and quality over the entire basis weight range. In addition, the machine needed to be particularly energy efficient, i.e. use less power, water and steam. XcelLine meets both these criteria thanks to its perfectly matched components.

The chosen paper machine concept combines the latest Voith technology for headbox, former and press section to guarantee optimum CD profiles, excellent fiber orientation with ideal dewatering capacity, and high efficiency.

The centerpiece of the dryer section will be a welded Yankee cylinder with a diameter of more than 7,000 mm. This equipment does a great deal to achieve the premium qualities necessary to satisfy the stringent quality requirements of August Koehler.

The multi-layer coating for differentiating the premium paper qualities is realized with the offline coating machine CM 8, which is fitted with ultra-modern coating equipment and offers non-contacting, gentle drying with high thermal efficiency. The final smoothing of the specialty papers is done using an innovative calendaring concept with downstream Sirius reel.

In addition, Voith will supply the basic and detail engineering for Line 8.

With this project, Koehler and Voith are continuing their longstanding successful collaboration. Koehler and Voith have effectively pooled their extensive technological expertise to make this one of the most efficient specialty paper machines in the world.
(Voith Paper GmbH & Co KG)

Newsgrafik #118468

Mondi eases packaging and transporting bulky consumer items with the brand new Box on Wheels  (Company news)

With more than 500 million euro annual sales, Poland is the second largest exporter of mattresses worldwide surpassed only by China. In order to address the growing demands of this evolving market segment, Mondi Simet offers a full range of standard transport cases, large boxes and die-cut products with HQPP printing. The leading Polish manufacturer of mattresses and beds, Hilding Anders Polska, is one of the most recent customers to benefit from Mondi Simet’s cutting-edge technical know-how and state-of-the-art equipment. The close collaboration resulted in the exciting packaging concept Box on Wheels, which helps Hilding Anders Polska’s end-users easily transport heavy items (up to 28 kg).

Established in 2000, Hilding Anders Polska manufactures beds and premium mattresses for leading furniture brands and popular private labels. In their drive to lead in their market the corporation is continuously pursuing opportunities to differentiate from competition and drive innovation. Faced with the challenge of packaging as heavy and bulky a product as mattresses, the manufacturer was on the look-out for smart solutions that combine high-end packaging design with easy transportation and storage along with an extraordinary end-user experience.

Dominik Błach, sales manager at Hilding Anders Polska, stated that “the solution developed by Mondi exceeded our expectations. Our customers and purchasers were impressed – the one-size-fits-all concept with the convenience factor for the consumers helped us sell our products to some of the biggest retailers in Poland. And our customers’ end-users are delighted – many say they reuse the functional box as storage once they’ve unpacked their mattresses.”

The packaging concept developed in cooperation Hilding Anders Polska and Mondi Simet ticks all the boxes – its innovative design, including wheels and a handle, helps customers transport their mattress from the shop straight to their bedroom. In addition to being user-friendly, it also requires 20% less material and is fast to assemble. Additionally, the new box allows to pack a range of different mattress sizes which optimises procurement and storage on the customer’s side. Lastly, this unique way of packing mattresses along with the high quality print on the corrugated cardboard sets the product aside from standard mattresses in the store and underscores the product’s premium character.

Bartlomiej Wasilewski, Sales Director at Mondi Simet, added: “The project with Hilding Anders Polska is an example of how local brands can benefit from the added value provided by Mondi. By delivering out-of- the box solutions made of corrugated board that simplifies internal processes and improves end-users’ experience, we can boost business growth without compromising our environment.”
(Mondi Simet S.A.)

Newsgrafik #118471

Packaging Corporation of America Reports Third Quarter 2017 Results  (Company news)

Packaging Corporation of America (NYSE: PKG) reported third quarter 2017 net income of $139 million, or $1.47 per share and $1.68 per share excluding special items. Third quarter net sales were $1.6 billion in 2017 and $1.5 billion in 2016.

Special items expense in the third quarter of 2017 primarily includes asset impairment and other charges related to discontinuing paper operations associated with the previously announced conversion of the No. 3 paper machine at the Wallula, Washington mill to linerboard. Excluding special items, the $.38 per share increase in third quarter 2017 earnings compared to the third quarter of 2016 was driven primarily by higher prices and mix ($.61) and sales volume ($.07) in our Packaging segment and a partial insurance recovery related to the DeRidder Mill incident ($.02). These items were partially offset by lower prices and mix ($.05) and sales volume ($.02) in our Paper segment, higher input costs ($.12), higher operating costs ($.03), higher freight ($.02) and annual outage ($.02) expenses, and higher corporate and other costs ($.06).

Compared to third quarter guidance, results were negatively impacted by ($.02) per share due to hurricane-related items at certain mills and corrugated products facilities, offset by a partial insurance recovery related to the DeRidder Mill incident of $.02 per share.

In the Packaging segment, total corrugated products shipments with two less workdays were up 4.0% and shipments per day were up 7.3% over last year’s third quarter. Containerboard production was 996,000 tons, and containerboard inventory was up 7,000 tons compared to the third quarter of 2016 and up 20,000 tons from the second quarter of 2017. In the Paper segment, lower volumes in the third quarter of 2017 compared to last year were primarily due to the previously announced shutdown of market pulp operations at the Wallula Mill.

Commenting on reported results, Mark W. Kowlzan (photo), Chairman and CEO, said, “Our containerboard and corrugated products price increases were implemented as planned and we continued to have strong demand in our packaging segment. Our containerboard mills ran very well and set an all-time quarterly production record. We built some extra inventory to prepare for the scheduled fourth quarter outage at our Counce Mill that was moved from earlier in the year and begin the integration of the Sacramento Container acquisition into our packaging business. Higher year over year inflation came in close to where we expected, and the employees at our mills and corrugated products facilities did an outstanding job mitigating the negative impact of the recent hurricanes. Additionally, we recorded impairment and other charges related to the virgin linerboard conversion of our No. 3 paper machine at Wallula and our preparations for this project are well under way.”

“Looking ahead to the fourth quarter,” Mr. Kowlzan added, “we expect packaging segment demand to remain strong although at seasonally lower volumes, which includes one less shipping day, as well as a seasonally less rich mix in corrugated products, compared to the third quarter. We will also have the addition of our newly acquired Sacramento Container operations in the fourth quarter. In our paper segment, we have started implementing our recently announced price increases, but expect seasonally lower volumes and a less rich sales mix. While recycled fiber prices should move lower, higher wood and energy costs along with higher prices for certain key chemicals and higher freight costs are also expected. Finally, our annual outage costs are estimated to be ($.12) per share higher than the third quarter due to scheduled maintenance work at four of our mills. Considering these items, we expect fourth quarter earnings of $1.50 per share. This does not include any potential additional costs or anticipated recoveries related to the Deridder Mill insurance claim.”
(PCA Packaging Corporation of America)

Newsgrafik #118472

Metsä Board Corporation Interim Report 1 January – 30 September 2017, 1 November 2017  (Company news)

Metsä Board’s comparable operating result in January–September 2017 was EUR 139 million

January–September 2017 (1–9/2016)
• Sales were EUR 1,397.3 million (1,298.5).
• Comparable operating result was EUR 139.1 million (104.7), or 10.0 per cent (8.1) of sales. The operating result was EUR 152.7 million (93.8).
• Comparable earnings per share were EUR 0.27 (0.21), and earnings per share were EUR 0.30 (0.18).
• Comparable return on capital employed was 10.6 per cent (8.3).

July–September 2017 (4–6/2017)
• Sales were EUR 478.6 million (474.2).
• Comparable operating result was EUR 50.4 million (43.5), or 10.5 per cent (9.2) of sales. The operating result was EUR 60.6 million (46.9).
• Comparable earnings per share were EUR 0.08 (0.09), and earnings per share were EUR 0.11 (0.09).
• Comparable return on capital employed was 11.5 per cent (10.3).

Events in July–September 2017
• Demand for packaging materials made from fresh fibre was at a good level in Metsä Board’s main market areas.

• Market prices in local currencies remained stable or rose slightly. Metsä Board announced an increase in the price of white fresh fibre linerboard in Europe of EUR 50 per tonne (as of 15 September 2017) and in the price of folding boxboard of EUR 90 per tonne (as of 1 November 2017).

• Metsä Board’s paperboard deliveries remained roughly at the level of the previous quarter. Geographic sales mix improved the average price of folding boxboard.

• Net cash flow from operations was strong at EUR 67.5 million (4–6/2017: 37.1).

• Metsä Fibre’s new bioproduct mill started up according to plan in August.

• Metsä Board issued an unsecured bond of EUR 250 million maturing in 2027.

Events after the review period
Metsä Board was once again recognized as a global leader in terms of its responsible water consumption and measures to mitigate the effects of climate change. The company was included on CDP’s Water A and Climate A lists, and achieved Leadership status in CDP’s Forest programme.

Result guidance for October–December 2017
Mainly due to the maintenance shutdown at the Husum integrated mill, Metsä Board’s comparable operating result in the fourth quarter of 2017 is expected to weaken slightly from the third quarter of 2017.

Metsä Board’s CEO Mika Joukio (photo):
“Third quarter developed according to our expectations. Paperboard delivery volumes remained roughly at the level of the previous quarter, but our comparable operating result improved by 16 per cent. The result improved due to an increase in average paperboard prices as well as the higher production volumes of pulp and paperboard. Cash flow from operations was strong due to the improved result and release in working capital. Our associated company Metsä Fibre’s new bioproduct mill at Äänekoski started up according to plan in August, and pulp deliveries to customers started at the beginning of September.

Demand for packaging materials made from fresh fibre has remained strong, and market prices in local currencies have increased, particularly in white fresh fibre linerboard. The growth in demand has also been visible in the order books of our paperboard mills, which are now clearly higher than before.

The annual maintenance shutdown at the Husum integrated mill after the review period resulted in losses, particularly in the production and sales of pulp. The total delivery volumes of paperboard will also decline slightly for seasonal reasons towards the end of the year. Due to these reasons, we expect the fourth quarter results to weaken slightly.

We aim to further improve the average price of folding boxboard, production efficiency and profitability at the Husum mill. We estimate that the 2019 operating result of the Husum mill will be EUR 100 million better than in 2016.

Metsä Board’s strategy is clear: we focus on high-quality, light and ecological fresh fibre paperboards in growing markets. We develop our products and services in cooperation with our customers to gain an even stronger market position. Thanks to our skilled and competent personnel, I am confident about the company’s development.”
(Metsä Board Corporation)

Newsgrafik #118474

Cascades invests $21M to increase its production of innovative and environmentally friendly ...  (Company news)

... packaging for fresh foods

Cascades Inc. (TSX: CAS), a leader in the recovery and manufacturing of green packaging and tissue products, announced a $21-million investment in its Cascades Inopak (Drummondville) and Plastiques Cascades (Kingsey Falls) plants in order to acquire equipment enabling it to increase its production of food packaging, primarily for the fresh protein market.

The Cascades Inopak plant in Drummondville will benefit from a $15-million investment. This will be used to expand the existing building and to install a high-performance rPET film manufacturing line that is unique in Canada and which includes a built-in, cutting-edge decontamination unit. This will make it possible to significantly increase the production capacity of Integral TM packaging, which is made from recycled PET, is recyclable and allows food in certain markets—such as fresh protein—to be kept for double the amount of time, thus radically reducing food waste.

Nearly $6M will be invested in the Kingsey Falls Plastiques Cascades plant to modernize equipment, notably by adding a new extrusion line and two recycling lines, which will increase the production capacity by 25% and double the plant's internal recycling capacity. The Kingsey Falls plant produces EVOK ® , the first polystyrene foam tray in North America to contain at least 25% recycled materials. These investments will facilitate an eventual increase in this percentage and, by extension, further reduce the CO 2 emissions of products marketed by our customers.

"The strategic investments announced today will strengthen Cascades' position in the food packaging segment, by increasing our production capacity thus providing the tools to increase our market share. They will generate more than 10 new jobs, primarily in the production and sales sectors, and will consolidate the 216 jobs that already exist in these two units. We are particularly proud of the fact that we lend our recovery expertise to the food sector and that we are taking the fight against food waste to yet another level," said Cascades President and CEO Mario Plourde.

"In addition to our fresh protein containers, we are pleased to provide our customers with produce packaging that offers unique environmental added value. Cascades is the first company in North America to manufacture low-density PET packaging containing 80% recycled PET. Compared to the competition we can reduce the quantity of materials by approximately 10% for each container made. In addition to using fewer resources, our products are recyclable and provide optimum performance," added Luc Langevin, President and Chief Operating Officer of Cascades Specialty Products Group.

The announcement regarding these strategic investments was attended by Dominique Anglade, Deputy Premier, Minister of Economy, Science and Innovation, Alexandre Cusson, Mayor of Drummondville , as well as Cascades customers, suppliers and employees, among others. Cascades also acknowledges the government's contribution to this project in the form of a $6-million loan from Investissement Québec. Furthermore, Drummondville has begun infrastructure work in order to make the expansion of Cascades Inopak possible.
(Cascades Inc.)

Newsgrafik #118476

High-performance creasing and perforating system  (Company news)

A typical problem when processing digital prints or other delicate material is the cracking of the toner layer along the fold line, which has a negative effect on the quality. Creasing along the fold line can considerably reduce or even avoid this phenomenon. For these applications MB Bäuerle has developed the Creasing System WF-D2H high pile. With the creasing technology used in this system, the material is gently compressed, because the excessive stretching of the paper fibres is avoided. This principle prevents cracking of the printing ink or tearing of the paper, thus ensuring optimal after-print processing.

Caption: The high-performance system for creasing and perforating features a high degree of operator convenience combined with short set-up times. It is therefore ideal for the efficient handling of digital printing products.

The machine is of modular design and consists of the following components:
-Flat pile feeder 52-SL NET
-Alignment table ART 52
-Creasing and perforating machine WF-D2H

The flat pile feeder allows a high stacking capacity of the material to be processed. The alignment of the sheets prior to the creasing process also ensures utmost accuracy in final finishing. The double head drive system of the creasing machine makes it possible to perform two processing steps inline (for instance creasing and perforating). The creasing and perforating system offers maximum operator convenience combined with minimum set-up times due to the intelligent machine control, the operation via a centrally located touch screen operator panel with integrated job memory and the high degree of automation. It is therefore ideal for the further processing of digital prints.
(MB Bäuerle GmbH)

Newsgrafik #118508

ANDRITZ to supply evaporation plant to Iggesund Paperboard AB in Sweden  (Company news)

International technology Group ANDRITZ has received an order from Iggesund Paperboard AB, a member of the HOLMEN GROUP, to supply a new evaporation plant and rebuild an existing evaporation plant for the pulp mill in Iggesund.

Start-up of the new plant is scheduled for the second quarter of 2019 and of the rebuild for the fourth quarter of 2019.

The new 7-effect high dry solids evaporation plant will have a capacity of 350 t/h evaporated water. It will replace an old ANDRITZ evaporation line from the 1970’s and significantly enhance energy efficiency at the Iggesund mill. The state-of-the-art technology of the evaporation plant will improve the cleanliness of the condensates produced, which are reused in other processes in the pulp mill.

The existing evaporation plant will be rebuilt and upgraded to 220 t/h with modern ANDRITZ lamella technology in effects 1 and 2 in order to meet and exceed the plant’s original design data.

ANDRITZ’s lamella technology ensures the desired steam economy at all times, reduced energy consumption by circulation pumps, as well as higher black liquor concentration and stability, thus leading to increased and stabilized power production in the recovery boiler. It also provides optimized vapor condensate quality that contributes towards lower energy and chemical consumption. This reduces the mill’s operational costs. In addition, shorter and fewer washing cycles enhance the overall availability and production.

Olov Winblad von Walter, Mill Director at Iggesund mill: “The clear advantages of ANDRITZ’s lamella technology as well as the excellent cooperation with ANDRITZ in previous projects were decisive factors for Iggesund Paperboard to award the order to ANDRITZ.”

Iggesund Paperboard is part of the Swedish forest industry group Holmen, one of the world’s most sustainable companies and listed in the United Nations Global Compact Index. The Iggesund Mill produces high-quality bleached paperboard under the brand name Invercote™, sold in more than 100 countries.
(Andritz AG)

Newsgrafik #118509

Valmet recognized as a global leader in climate action by CDP  (Company news)

Valmet has been recognized for its actions and strategy to mitigate climate change by CDP, the international not-for-profit organization that promotes sustainability. Valmet maintains its leadership position in CDP's climate program ranking by achieving the second-best A- rating. The CDP's climate change program results were released on October 24, 2017.

"This year, CDP had set the threshold higher than in the previous years which makes our achievement even more significant. This is a great acknowledgement of our contribution to climate change mitigation. We are continuously developing technologies that enable the use of renewable raw materials and increase raw material efficiency. We also have a systematic program to reduce CO2 emissions in our own operations. Recently, we set new targets for this program spanning to year 2030 to drive continuous improvement in environmental performance in the long term," says Pasi Laine, President and CEO of Valmet.

Valmet's mission is to convert renewable resources into sustainable results. Valmet's comprehensive Sustainability360º agenda focuses on five core areas: sustainable supply chain; health, safety and environment; people and performance; sustainable solutions, and corporate citizenship.

In September 2017, Valmet was recognized for its consistent progress in sustainability as it was included in the Dow Jones Sustainability World and Europe indices for the fourth consecutive year. Valmet was also reconfirmed as a constituent of the Ethibel Sustainability Index Excellence Europe.
(Valmet Corporation)

Newsgrafik #118420

Europe rewards Lucart: the Natural project ranks second at the European Paper Recycling Awards...  (Company news)

... for the R&D category

At the 6th edition of this event, the company was awarded for its outstanding commitment to improve paper recycling technology

The Natural project has enabled Lucart to receive an important European award. For the innovative nature of its project and for the challenges faced by the Group in implementing it, the company was chosen as the winner by a committee of excellence: Lisa Kretschmann, Managing Director of the European Federation of Envelope Manufacturers, Simona Bonafè, Italian Member of the European Parliament, Inés Ayala Sender, Spanish Member of the European Parliament, Ferran Rosa, Policy Officer at Zero Waste Europe, and Rudi Bressa, environmental journalist.

The project that Lucart has been developing in partnership with Tetra Pak® since 2010 has introduced a complete circular economy model for paper, thanks to an innovative technology that separates the cellulose fibres in beverage cartons from polyethylene and aluminium parts, without the use of substances that are harmful to humans or the environment. In this way, two new high-quality raw materials are produced. Fiberpack®, the paper used for the hygiene products in Lucart's Natural lines, is obtained from cellulose fibres. The company has also obtained a material called AL.PE.® from polyethylene and aluminium. This raw material is used to produce innovative systems for the dispensing of tissue products but also for pallets, mooring poles in Venice and floating platforms for wheelchair access and other commonly used items, which are all recycled and recyclable when they reach the end of their life cycle.

Lucart has invested approximately 10 million euros in resources and in the development of two of the Group’s plants – in Diecimo, in the province of Lucca, and in Laval sur Vologne, France – to develop industrial systems that are suitable for the treatment of Tetra Pak® beverage cartons while maintaining an ongoing dialogue with all relevant stakeholders.

“It was truly a great pleasure for us to have received this award at the European Parliament,” Tommaso De Luca, Lucart's Communications Manager, commented. “The Fiberpack® project best represents the two core values of our company: sustainability and innovation. In the last few years, we have worked extremely hard and we will continue to do so in view of the increasingly stringent European environmental requirements, in order to offer solutions and projects that are respectful of the environment and of people's well-being,” De Luca concluded. “Our circular business model involves citizens as product users, but also as promoters of good practices through separate waste collection. Hopefully, this award will be a good omen for the important decisions that must be taken at European level to facilitate the transition to a Circular Economy.”

Any future projects? Lucart will continue to promote a transparent, practical and viable circular economy model in Europe. Thanks to the Fiberpack® project, Lucart can now offer consumers a recycled paper product, which is carried on a recycled pallet and used through a recycled plastic dispenser, obtained by recycling the various components of beverage cartons. This product development model is in line with circular economy principles, starting with waste management through proper disposal. Waste is then sent for treatment to be re-processed into secondary raw materials, ready to be reused and placed on the market. Lucart's commitment, which resulted in this prestigious award, is quantifiable and measurable in terms of environmental performance.

From 2013 to 2016, Lucart has contributed to achieving great results:
• more than 2.8 billion 1-litre beverage cartons have been recycled, which, if lined up one after the other, would cover a distance equal to the circumvention of the Earth 16 times over
• more than 1.2 million trees have been saved thanks to this initiative, equal to a surface area of more than 4,200 football fields
• more than 73,000 tonnes of CO2 have been avoided, equal to the emissions produced by more than 578,000 Rome-Milan trips by car
(Lucart Group)

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