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The following is a collection of the top industry headlines found within FisherSolve News from the last several days.
Mativ Holdings anticipates delivering significantly improved sequential EBITDA for the remainder of the year 2023. The company reported that 1Q2023 was impacted by a combination of customer de-stocking across the business, operational inefficiencies in their French operations, and inefficiencies in several US sites.
"We believe the key issues affecting first quarter margin performance will prove temporary, as customer indications suggest we are currently moving past the peak de-stocking impacts, and that more normalized volume activity should resume in the second half of the year. Further, we are starting to see improved manufacturing performance across the business, which we expect will translate into better margins as the year progresses. Despite a tough first quarter and some continued headwinds expected in the second quarter, we expect to exit 2023 on a strong trajectory toward US$100 million EBITDA quarters," noted Julie Schertell, Chief Executive Officer.
Mondi is upgrading its Dynäs pulp and paper mill in Sweden. The modernization program will increase efficiency and further improve the overall environmental performance of the mill, positioning it well to continue meeting customer demand for sustainable paper and paper-based packaging solutions.
The Dynäs mill produces high-quality sack and specialty kraft papers, used for a variety of paper-based packaging solutions for industrial and consumer industries.
Billerud has launched a machine glazed kraft paper especially adapted and validated for wrapping toilet and kitchen paper rolls. Hitting the sustainability sweet spot – renewable, recyclable and biodegradable, but also enduring tough handling as good as any PE plastic.
Sustainability and a low carbon footprint are obvious strengths, but the new wrapping has more up its sleeve. Billerud’s white, long, soft virgin fibers enable excellent printability and due to its long virgin fibers, drop tests show the new paper has just as much resilience as PE plastics. Machine glazing makes the paper’s surface super smooth, which enables very strong sealing power. On top of minimizing the risk of damage to goods, the paper is strong enough to use a lighter weight and save on resources.
UPM has lowered its outlook for 2023 citing slower recovery of deliveries in most businesses and a rapid fall in pulp prices. Comparable EBIT in 1H2023 is now expected to decrease from a year ago. Full-year 2023 comparable EBIT is expected to decrease from 2022. Earlier, UPM expected comparable EBIT to increase in 1H2023 from 1H2022, and 2023 to be another year of strong financial performance. Destocking in various product value chains has continued to hold back delivery volumes in most UPM ’s businesses, resulting in slower recovery of volumes than expected.
In addition, chemical pulp prices have fallen faster than expected, towards estimated bottom-of-the-cycle price levels. Finally, UPM has high maintenance activity during 2Q2023. UPM said it continues to focus on margin management during the short-term.
Imperial Dade, a leading distributor of foodservice packaging supplies and janitorial supplies, announced the acquisition of Columbus Paper Company, Inc. (“COPACO” or the “Company”).
COPACO was founded in 1933 and is currently managed by Michael and Steven Greenblatt. The Greenblatt family has grown the business into a leading distributor of industrial, foodservice, and janitorial supplies throughout Georgia and Alabama. By leveraging Imperial Dade’s market leading platform, COPACO customers can expect the same exceptional customized service coupled with an even greater offering of products and solutions.
Atlas Web Technologies, a division of Atlas Roofing Corporation, announced it will be making investments in two of its paper mills to significantly increase capacity. The premiere manufacturer and supplier of 100% recycled paper and coated glass flexible facers to the polyiso and gypsum building materials markets, Atlas will make these improvements at its Meridian, MS and Franklin, OH paper mills, increasing capacity by approximately 30% over the next two years. This comes on the heels of a recent capacity expansion project at the Meridian coated glass facer plant and will help Atlas grow their coverage as the largest flexible facer manufacturer in North America.
Cascades has revised its target of selling 59 million to 63 million cases of converted products in 2024 from the previous target of 75 million to 80 million cases of converted products. At the same time, annual paper production capacity will be reduced by 92,000 short tons and annual converting capacity by 10 million cases. The targets in the tissue papers business are revised following a repositioning of its tissue operational platform, the company disclosed in its 2022-24 strategic plan update.