Paper packaging maker Smurfit Kappa has reported an eight percent increase in fourth quarter core profit.
The Iris firm says earnings before interest, tax, depreciation and amortisation (EBITDA) rose to €275m.
Quarterly revenue also increased 3.9 percent to €1.82bn and full year EBITDA rose 20 percent to €1.064bn.
Chief executive Gary McGann says the group's performance had been helped by a "generally positive price environment" for its products in Europe and higher sales volumes in South Africa.
However, the company also says it experienced slower than expected growth in the second half of 2007 due to a "poor summer season" which limited demand for packaging for products such as ice cream and fruit juice.
STORA PROFITS LARGER THAN EXPECTED
Stora Enso Ojy has reported a larger than expected fourth quarter loss, following rising wood prices and the cost of closing mills.
The €135.3m loss, compared to a year-earlier profit of €263m, was caused by increases to Finnish wood prices by around 30 percent, with one-time costs, including closures, of €388.5m.
Sales from continuing operations increased 1.6 percent to €3.37bn.
The company says although profit improved in the fine paper and industrial packaging divisions, it is not satisfied with the quarter's results.
The US is expected to continue to dominate international packaging machinery sales due to the perceived technological benefits of its products and a favourable exchange rate, according to a recent industry report.
US PACKAGING MACHINE SALES UP
The Packaging Machinery Manufacturers Institute (PMMI) says US manufacturers of packaging machinery accounted for twenty per cent of all global sales in 2006, which is expected to increase over the next two years.
Global sales of packaging machinery technologies originating in US are expected to reach US$6.68bn, by 2009 – an increase of up 3.1 percent on 2006.
O.BERK OFFERS LUXURY GLASS
Glass, plastic and metal containers supplier O.BERK Company has announced the formation of Designer Glass Packaging Group.
CEO Marc Gaelen says the purpose of this division is to offer luxury glass packaging to the fragrance, perfume, high-end gift and collectable markets.
"This offering includes the bottle, closure, decorating or labelling, and carton to present the complete, high-end luxury packaging," Gaelen says.
The group will be headed by Hugues Thibaud, who previously managed Elemental Container Inc.
Source: packaging-technology
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