Total Packaging Papers shipments were 219,200 tons, 9.5 percent lower than January 2017. Bag & Sack shipments were down 13.4 percent month-over-month and Multiwall shipments were down 19.0 percent. Food Wrapping shipments were up 0.4 percent. The operating rate for January was 84.3 percent, the second lowest over the last 13 months. Inventories were 171,800 tons, up 3.6 percent since December 2017.
http://afandpa.org/media/news/2018/02/22/american-forest-paper-association-releases-january-2018-u.s.-packaging-papers-specialty-packaging-monthly-report
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Created for the circular economy, with resource and waste reduction at the core of the design from inception, the DD Wrap is an innovative and sustainable shelf-ready packaging solution. It is circular economy ready while it is also increasing supply chain efficiency and enhancing the in-store shopping experience. The DD Wrap packaging is customised for a variety of packaging solutions and is created from a single piece of cardboard without perforation at the front side to improve visibility and appeal at the point of display. It is easy to open to improve accessibility which reduces the need for sharp tools during box opening.
*First quarter net earnings of $56 million *First quarter results negatively impacted by approximately $52 million (pre-tax) due to January freeze and Ixtac, Mexico fire *First quarter cash provided by operations of $395 million and returned $161 million to shareholders in dividends
“Our first quarter results demonstrated the strength of the new Sonoco as our global team achieved record top-line and adjusted EBITDA performance, growing 31% and 38%, respectively, while adjusted earnings per share rose 23% despite higher-than-expected interest expense, taxes and the negative impact of currency exchange rates,” said Howard Coker, President and Chief Executive Officer. “Consumer Packaging segment sales grew 83% and adjusted EBITDA jumped 127%. We completed the first phase of the integration of Eviosys as it has been rebranded Sonoco Metal Packaging EMEA and we drove strong synergies across the global Metal Packaging enterprise. In addition to the benefit of the Eviosys acquisition, our Metal Packaging U.S. business achieved approximately 10% growth in organic volume/mix in the quarter. Our Industrial Paper Packaging segment improved adjusted EBITDA by 6% and EBITDA margin by approximately 200 basis points driven by year-over-year improvement in price/cost and productivity.” Coker continued, “After the close of the quarter, we successfully completed an important step in our transformation to a simpler, stronger and more sustainable company with the sale of our Thermoformed and Flexibles Packaging business. We have used after-tax proceeds of approximately $1.56 billion to significantly reduce debt and strengthen our balance sheet. Today, our net leverage ratio is below 4.0X Net Debt/Adjusted EBITDA and we remain on track to achieve our targeted net leverage of 3.0X to 3.3X by the end of 2026.”