Containerboard production was up 0.7 percent compared to April 2017 and up 0.7 percent year-to-date. The month-over-month average daily production compared to March 2018 was 0.5 percent lower. The containerboard operating rate was 98.3 percent, 2.5 percentage points higher than the same month last year. Production for exports was 3.0 percent lower than April 2017 and 5.8 percent lower year-to-date.
http://afandpa.org/media/news/2018/05/17/american-forest-paper-association-releases-april-2018-containerboard-report
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Tredegar announced that, as part of the Brazilian merger review process regarding the sale of Terphane to Oben Group, the General Superintendence of the Administrative Council for Economic Defense issued a non-binding opinion recommending the rejection of the transaction. Following this first stage of the two-stage Brazilian merger review process for complex transactions, the case will now be submitted to the CADE Tribunal, in accordance with the customary Brazilian merger review process. Once the case is submitted to the Tribunal, the parties are given a full opportunity to present evidence in favor of clearing the transaction. The SG Opinion is not binding and the final decision regarding the transaction will eventually be rendered by the Tribunal, which will begin its independent analysis now.
John Steitz, Tredegar’s president and chief executive officer, said, “We remain confident that the sale of Terphane to Oben Group will be a positive development for the flexible packaging films market in Brazil. Tredegar has been fully cooperative with SG-CADE and will continue to cooperate with the CADE Tribunal to address any concerns. During the Tribunal’s review, Tredegar and Oben will detail their views on the market, its dynamics and the positive effects that would result from the transaction.”
Crestview Partners, a leading private equity firm, announced that it has completed the acquisition of Smyth Companies, a premier, full-service provider of pressure sensitive labels, shrink sleeves, in-mold labels, glue-applied labels, and flexible packaging, from Novacap. Crestview is investing alongside members of the Company's founding family and the existing management team led by President & CEO Scott Fisher, who will continue to lead the Company. Financial terms of the transaction were not disclosed. As part of the transaction, Crestview is allocating additional equity to support organic investments and M&A to drive enhanced capabilities, scale and diversification; and Smyth is actively pursuing both tuck-in and transformational acquisitions across the pressure sensitive labels, shrink sleeve, in-mold labels and flexible packaging markets. Headquartered in Eagan, MN, Smyth is a leader in the prime labels industry, providing customized solutions for a diverse array of high-value consumer product applications across the household, food, health & beauty and automotive aftermarket segments.
De Jong Packaging Group, one of the largest corrugated manufacturers in the Benelux, is now officially part of Stora Enso. This acquisition will advance Stora Enso’s strategic direction, accelerate revenue growth and build market share in renewable packaging in Europe. The acquisition of De Jong Packaging Group will begin a new phase of renewable packaging solutions within Stora Enso. On top of Stora Enso’s existing corrugated facilities, De Jong Packaging Group has 16 sites in total in the Netherlands, Belgium, Germany, and the UK. Most of the sites are corrugated converting and packaging wholesale facilities and they include two corrugators, 16 processing machines and 46 tray erectors. Together they produce 2,5 million boxes a day. De Jong Packaging Group’s core business is corrugated converting where its product portfolio includes corrugated trays, regular slotted boxes (‘American boxes’), specialty folding boxes, corrugated sheets as well as other products like solid board boxes. Services include custom box designs, tray erecting, packaging automation, pre-printing and logistics services.