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Resolute Reports Preliminary Second Quarter 2017 Results

Q2 GAAP net loss of $74 million or $0.82 per share
 Adjusted EBITDA of $83 million
 Debt repayments of $41 million, liquidity at $414 million

Resolute Forest Products Inc. today reported a net loss for the quarter ended June 30, 2017, of $74 million, or $0.82 per share, compared to a net loss of $42 million, or $0.47 per share, in the same period in 2016. Sales were $858 million in the quarter, down $33 million, or 4%, from the second quarter of 2016. Excluding special items, the company reported a net loss of $3 million, or $0.03 per share, compared to net income, excluding special items, of $2 million, or $0.02 per share, in the second quarter of 2016.

"This quarter’s performance was a clear improvement from the first quarter," said Richard Garneau, president and chief executive officer. "The results of our wood products segment were strong given higher prices associated with the U.S. imposition of trade barriers, while our market pulp segment recorded a solid performance despite production curtailments associated with annual outages. In tissue, the improvement in our profitability continued but remained short of expectations. Paper segments continued to be impacted by adverse market conditions, particularly in specialty grades." 

Non-GAAP financial measures, such as adjustments for special items and adjusted EBITDA, are explained and reconciled below.

Operating Income Variance Against Prior Period

2017-08-03 
Poppies Europe to install the first TV840.6 in the UK

Important milestone in the British Tissue market : in July, Poppies Europe Ltd, UK leader and OMET partner since 2014, will install a new TV 840.6 double lane machine. It is the 12th OMET converting line in 3 years for the British company and the first TV 840 in the UK.

Sergio Villa, OMET Area Manager for the British area explains : “The new machine is going to produce single-ply napkins with over-all embossing pattern. It is a great machine for high production, expressly chosen to cope with the growing market demand. It provides double productive capacity compared to the eleven TV 503 already part of Poppies’ machine range”.

2017-08-01 
Leading Progroup into the future: Maximilian Heindl appointed as Deputy Chairman

From 1 August 2017 Maximilian Heindl, son of the company founder and Chief Executive Officer Jürgen Heindl, will be taking over responsibility as Deputy Chairman in Progroup’s senior management team. Maximilian Heindl joined the company back in mid-2016 and successfully took charge of the area of production and technology at Propapier (PM1 and PM2) as well as assuming overall responsibility for Propower.

With the Two Twentyfive strategy, which began in 2016, Progroup is approaching the ten-year period that lies ahead with ambitious projects and success-driven trade and is consistently striving to expand its market leadership in the sheet-feeding market in Central Europe. The required structural reconfiguration and expansion of the Executive Board is now continuing its logical progress with the appointment of Maximilian Heindl to the role of Deputy Chairman.

2017-08-01 
Next milestone achieved in sustainability - EU Ecolabel available for all UPM graphic paper grades

Following its Biofore approach, UPM Paper ENA has reached the next significant milestone in the company’s sustainability journey, as now all its mills produce papers that are awarded with the EU Ecolabel. The UPM Hürth paper mill completed the full range on June 5th, when its products received the EU Ecolabel certificate. The mill achieved the needed reduction in emissions by switching to more sustainable sources of energy.

"Being able to provide our customers with EU Ecolabel awarded products from all of our mills is a great achievement, which we can be proud of," says Päivi Rissanen, Sustainability Director, UPM Paper ENA. "The EU Ecolabel criteria covers all relevant environmental aspects and is a good proof of solid sustainability performance."

The EU Ecolabel covers the product’s whole lifecycle, which makes it the broadest ecolabel available on the market. Showcasing the EU Ecolabel printed on a paper product is a reliable and widely recognized way for UPM customers to express their commitment to sustainability. UPM has had the most comprehensive offering of papers carrying the EU Ecolabel in the paper industry, with the recent addition further strengthening this position - the label is now available for over 200 UPM Paper ENA products.

All environmental and social responsibility certificates of UPM papers including mill-specific EU Ecolabel certificates can be found in the UPM Certificate Finder.

2017-07-31 
DS Smith releases its Annual Report 2017: Redefining Packaging

DS Smith’s vision is to be the leading supplier of sustainable packaging solutions, bringing value to our customers.

The Annual Report focuses on our performance for the year 2016/17, together with how we are looking to the future and redefining packaging to help our customers realise their full potential in a changing consumer and retail environment.

2017-07-31 
New automatic knife position system “Quick Set NW” developped for the area narrow web

Dienes is proud to present on Labelexpo 25th to 28th September 2017 in Brussels booth 4/A52 the “QUICK SET NW” a new automatic knife position system for the area narrow web.

For more than 100 years DIENES stood for holistic solutions and service features in the slitting industry cutting. More than 600 successful installed slitting systems and the good cooperation with the clients are the best basis for a new automatic knife position system for the area narrow web, which will be represent on the Labelexpo. This system is either for crush cutting or for shear cutting. The compact design as well as an intuitive handling ensures a high compatibility to the integration into existing or new machines. The proven slitting tools of our company ensure high-quality slitting and reduces amount of dust.

Technical Information :
Material width : max 600 mm
Slitting width : min 20 mm

2017-07-28 
Changes in Valmet's Executive Team

Valmet changes the responsibility areas of some of its Executive Team members to support continuous individual and business development.

The following appointments are made as of October 1, 2017. Jukka Tiitinen is appointed Area President, Asia Pacific. Jukka is currently holding the position of Business Line President, Services at Valmet. Aki Niemi is appointed Business Line President, Services Business Line. He is currently working as the Area President, China at Valmet. Both have a long background in different management positions at Valmet, and they will continue reporting to President and CEO Pasi Laine as Executive Team members.

2017-07-28 
Europac focuses on point-of-sale promotional campaigns as a growth market

​In line with its strategy of providing added value to its customers and of profitable growth in the packaging market, the Europac Group strengthens its commitment to packaging solutions for point-of-sale displays.

2017-07-26 
Atlas Packaging develop and print a 3-D effect Onto Corrugated

Atlas Packaging is continuously pushing and challenging the boundaries of design and print. We believe that technical innovation gives us the opportunity to promote eye-catching packaging in new and exciting ways.

2017-07-26 
High security assignment to ÅF

ÅF signs contract with Norwegian Ministry of Justice and Public Security.

2017-07-26 
Pasaban provides the optimum solution for Polish company Karton-Pak

Karton-Pak, one of Poland’s largest solid cardboard packaging manufacturers has decided to employ Pasaban technology to continue extending and improving its production in the printing and production fields.

2017-07-26 
Canfor Pulp Announces Northwood and Taylor Pulp Mill Energy Projects
2017-07-26 
Codelco and Anglo American recognize Metso's contribution to safety

Metso has received recognition for promoting safety at the worksites of Codelco and Anglo American in Chile.

2017-07-26 
Ahlstrom-Munksjö to release additional capacity in Turin to support growing demand for filtration media

Ahlstrom-Munksjö will release additional capacity at its Turin plant in Italy to meet the growing demand for engine and industrial filtration media.

2017-07-26 
Resolute Appoints Patrice Minguez as President of Tissue Group

Resolute Forest Products Inc.announced the appointment of Patrice Minguez as president of the company’s tissue group.

2017-07-26 
Stora Enso to divest its holding in Bulleh Shah Packaging in Pakistan

Stora Enso has today signed an agreement to divest its 35% holding in the equity accounted investment Bulleh Shah Packaging Ltd. (BSP) to the main owner Packages Ltd. The transaction is expected to be completed in the third quarter of 2017.

2017-07-26 
PMP to supply Intelli-Jet v® Hydraulic Headbox to australian Paper’s M2 in Maryvale, Australia

PMP (Paper Machinery Producer) signed a contract with Australian Paper for delivery of an Intelli-Jet V® hydraulic headbox for their paper machine 2 (M2), located in Morwell, Australia.

The new headbox is an investment in the future operating performance of M2.

The project goal is to exchange the existing headbox for a PMP Intelli-Jet V® hydraulic headbox. Australian Paper has chosen PMP’s Intelli-Jet V® hydraulic headbox due to its high performance and impressive references. The project drivers are based on machine maintenance and quality, achieved through the application of state-of-the-art technology.

The scope of delivery is for a 5 meter Intelli-Jet V® hydraulic headbox. PMP’s Intelli-Jet V® hydraulic headbox technology has become an iconic solution in the Pulp & Paper industry. It is a part of PMP’s Intelli-Paper® platform for papermakers. There are 138 Intelli-Jet V® headboxes working successfully on 6 continents.

PMP looks forward to supporting Australian Paper through the entire project process. The delivery, installation, and start-up are scheduled for the 1st quarter of 2018.

2017-07-25 
PCMC names Steve Schubring as Value Stream Leader of tissue packaging

Paper Converting Machine Company ,a division of Barry -Wehmiller and a leading supplier of high -performance converting machinery for the tissue, nonwovens and package -printing industries
 worldwide, is pleased to announce that Steve Schubring has joined the organization as the Value Stream Leader of tissue packaging. In this role, he will provide overall leadership for the tissue packaging value stream, focusing on everything from sales support and project management , to acceptance of  equipment in customers’ facilities.

2017-07-25 
Sonoco Completes Acquisition of Clear Lam Packaging, Inc.

Sonoco, one of the largest diversified global packaging companies, today announced it has completed the acquisition of Clear Lam Packaging, Inc., a family-held developer and manufacturer of flexible and forming plastic packaging films, for approximately $170 million in cash.

Founded in 1969, the Elk Grove Village, Ill.-based company is projecting 2017 sales of approximately $140 million and operates state-of-the-art manufacturing facilities in Elk Grove Village and Nanjing, China, with nearly 400 total employees. Clear Lam is a technology leader in the development, production and conversion of high barrier flexible and forming films used to package a variety of products for consumer packaged goods companies and retailers, with a focus on structures used for perishable foods. Clear Lam President and CEO James Sanfilipoand other key members of its management team are expected to remain with the company. Clear Lam’s financial results will be added to Sonoco’s Consumer Packaging segment.

2017-07-25 
Nordic Paper to be acquired by Anhui Shanying Paper

Nordic Paper is a leading Swedish-based producer of kraft and greaseproof paper. Three of Nordic Paper’s mills are located in Sweden, and the fourth one in Norway.

A China-based pulp and paper company, Anhui Shanying Paper Industry Co., LTD (“Anhui Shanying Paper”), has entered into an agreement to acquire 100 % of the shares in Nordic Paper Holding AB from Special Situation Venture Partner lll and Petek GmbH.

2017-07-25 
Nordic Paper to be acquired by Anhui Shanying Paper

Nordic Paper is a leading Swedish-based producer of kraft and greaseproof paper. Three of Nordic Paper’s mills are located in Sweden, and the fourth one in Norway.

2017-07-25 
Spinnova partnering with the world’s leading eucalyptus pulp producer Fibria

Spinnova Ltd has started long term partnership with Fibria, Brazilian forestry company and the world’s leading producer of eucalyptus pulp from planted forests. Through this investment Fibria is Spinnova’s new minor shareholder and board member. The partnership with Fibria will help Spinnova grow its business faster and opens up new business opportunities for both companies.

VTT spin-off Spinnova Ltd signed an agreement to partner with Fibria, Brazilian forestry company. Fibria will pay 5 million euros for 18% minority interest in Spinnova.

2017-07-24 
Mondi Gallery exhibits local and international art at the corporate office in Vienna
The Mondi Gallery recently opened its eighth art exhibition at the Mondi Group corporate office in Vienna. Entitled “In Colors of Sun and Sky !” it features artworks by international artists Mikhail Evstafiev and Julia Belova as well as talented Mondi employees Roxana Molnar, Katharina Patocka and Joerg Popp.
2017-07-21 
A double challenge in China for the ALLIMAND Group

Zhejiang province : Simultaneous delivery of two “green technology” paper machines with very high added value in hitherto unseen conditions.

2017-07-21 

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