Neenah, Inc. announced a number of operational changes consistent with the Company’s commitment to accelerating growth, strengthening margins, and creating value for customers and shareholders. Actions include: *Investing $13 million in new release liner coating capacity in support of its growing specialty coatings business and the recent ITASA acquisition *Restarting an idled Fine Paper & Packaging asset in support of its premium packaging business *Ceasing operations at its Appleton, Wisconsin facility. “These actions will drive accretive value and accelerate efforts toward our long-term revenue growth goal of 5% annually with strong, consistent margins. Both the investment in coating capacity for release liners and the start-up of an idled asset in support of premium packaging are aligned with our strategy to extend our capabilities into larger, growing markets with customers that value unique, premium solutions,” said Julie Schertell, Neenah’s President and Chief Executive Officer. “Closing a facility is always a difficult decision and not one we take lightly. This decision is not a reflection of our employees or their efforts, as the team has consistently worked hard to overcome obstacles, improve safety and drive results. We'll continue to provide innovative filtration solutions and serve customers from our other manufacturing facilities in Europe and North America.”

Revenue in Q2 2017 was $314.4 million, compared to $295.8 million in Q2 2016, an increase of $18.6 million or 6.3%. The increase in revenue was primarily due to higher sales volume and the favourable impact of foreign exchange on U.S. dollar sales. Cost of sales in Q2 2017 increased to $267.1 million, compared to $249.9 million in Q2 2016, primarily due to higher sales volumes, an increase in fibre and natural gas prices and the unfavourable impact of foreign exchange on U.S. dollar denominated costs, as well as higher freight and warehousing costs, partially offset by cost reduction initiatives and the impact of capital projects. As a percentage of revenue, cost of sales were 85.0% in Q2 2017 compared to 84.5% in Q2 2016. Net income in Q2 2017 was $9.9 million, compared to $12.0 million in Q2 2016, primarily due to an increase in the change in amortized cost of Partnership units liability of $2.5 million and an increase in tax expense of $1.3 million. These increases were partially offset by higher Adjusted EBITDA of $1.4 million. Click Read More below for additional detail.

Sappi North America, Inc., a leading producer and supplier of diversified paper, packaging products and pulp, today released its 2022 Sustainability Report, highlighting its commitment to science-based targets in creating sustainable products and business practices. The company also secured the EcoVadis Platinum sustainability rating for the third year in a row, keeping Sappi at the top 1% of companies rated for sustainability. In 2022, the United Nation’s Sustainable Development Goals (UNSDG) continued to play an integral role in shaping Sappi’s business practices. The UNSDGs not only provide a global benchmark for sustainability, but also help guide Sappi’s approach to new sustainable product development; achieve record-breaking employee safety; elevate diversity in senior management; collaborate with partners on forward-trending projects; and more.