Total Packaging Papers shipments were down 6.6 percent compared to March 2017 and down 6.5 percent year-to-date. Bag & Sack shipments were down 8.3 percent year-to-date. Multiwall shipments were down 12.6 percent. Converting shipments were down 2.8 percent and Food Wrapping shipments remained essentially flat. The operating rate for March decreased to 87.4 percent from 88.5 percent in February. Inventories were up 1.4 percent since February.
http://afandpa.org/media/news/2018/04/18/american-forest-paper-association-releases-march-2018-u.s.-packaging-papers-specialty-packaging-monthly-report
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International Paper announced the permanent closure of the company's Red River containerboard mill in Campti, La., recycling plant in Phoenix, Az., box plant in Hazleton, Pa., and sheet feeder facility in St. Louis, Mo. All facilities will cease operations by the end of April 2025. The Red River containerboard mill closure is expected to reduce the company's containerboard capacity by approximately 800,000 tons on an annualized basis. In total, 495 hourly employees and 179 salaried employees will be affected. The company will work to minimize the impact on employees by using attrition, retirements and current vacancies at other International Paper locations. Team members at these locations will receive outplacement assistance, access to mental health support resources and where possible, severance benefits. "The decision to close any facility is difficult because of the impact on our team members, their families and the surrounding communities," said Tom Hamic, executive vice president and president, North American Packaging Solutions, International Paper. "We greatly appreciate the contributions from our departing team members and will do all we can to support them."
Wilhelm Wolff (46), MSc, has been appointed as Executive Vice President, Strategy and Business Development and a member of Global Executive Team at Huhtamaki as of January 13, 2025. He will report to President and CEO Charles Héaulmé and will be based in Espoo, Finland. Wilhelm joins Huhtamaki from Neste where he served as the Vice President, Feedstock & Asset Development. Neste is a leading producer of sustainable aviation fuel, renewable diesel and renewable feedstock solutions, headquartered in Finland. Before his current role, he served as Vice President, Corporate Strategy. Prior to joining Neste, he had a long career at UPM-Kymmene, a global forest industry company, where he worked in various leadership roles including Vice President, Strategy & Business development, UPM Biorefining.
Packaging Corporation of America reported first quarter 2024 net income of $147 million, or $1.63 per share, and net income of $155 million, or $1.72 per share, excluding special items. First quarter net sales were $2.0 billion in 2024 and 2023.