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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WestRock Company, a global manufacturer of differentiated paper and packaging solutions, broke ground yesterday on a 285,000 square foot expansion at its consumer packaging facility in Claremont. The $47 million investment was bolstered by a performance-based grant from the One North Carolina Fund and is expected to create 50 new jobs by the end of next year. During yesterday’s groundbreaking ceremony, WestRock project manager and Catawba County native Jason Smitherman remarked, “WestRock has operated on these grounds for 25 years, and this investment ensures we will be here for many more to come. This project would not have been possible without the commitment to and belief in WestRock by the City of Claremont, Catawba County, and the state of North Carolina.” The expanded facility and its employees will support WestRock’s production of sustainable, fiber-based packaging for some of the world’s leading food, food service and beverage brands.
*Net earnings of $235 million ($0.68 per diluted share); Adjusted operating earnings* (non-GAAP) of $204 million ($0.59 per diluted share) *$55 million of earnings achieved from Building a Better IP initiatives, bringing year-to-date to $120 million *Cash provided by operations of $528 million, bringing year-to-date to $873 million; Free cash flow** (non-GAAP) of $265 million year-to-date 2023 *Returned $200 million to shareholders through $40 million share repurchases and $160 million in dividends, bringing year-to-date to $519 million
Fourth Quarter Highlights *Net sales of $3.4 billion *Operating income of $336 million; Operating EBITDA of $539 million, a 9% increase *Earnings per share of $1.85; record adjusted earnings per share of $2.19, an 18% increase. Fiscal Year Highlights: *Record net sales of $14.5 billion, a 10% increase *Operating income of $1.2 billion; Operating EBITDA of $2.1 billion *Cash flow from operations of $1.56 billion; free cash flow of $876 million, +$125 million above guidance