International Paper has reported a sharp fall in fourth quarter profits, but a sales gain in industrial packaging and printing papers.
The firm's fourth quarter net income fell 83 percent to US$327m, down from US$1.98bn a year ago – however 2007's result was skewed by the sale of forest land.
Goldman Sachs analyst Richard Skidmore says despite the drop, results are better than anticipated, driven by stronger operating results in paper industrial packaging and land sales.
Operating profits for the quarter reached US$711m, up from US$425m in 2006.
Full-year operating profits increased from US$2.1bn to US$2.4bn.
Profits from corrugated boxes and other industrial packaging rose 11 percent to US$144m, while profits from consumer packaging increased 48 percent to US$40m.
Chief executive John Farci says he expects global demand for paper and packaging materials to counteract any downturn in the US economy.
PROFIT INCREASE CAUSES HAPPY MONDI
South African paper and packaging company Mondi says its full-year profit has more than tripled.
Mondi has been shutting plants in Western Europe and focussing growth on Eastern Europe, taking advantage of lower costs and faster growth.
"Mondi's performance in 2007 continued to improve, reflecting our favourable product mix, emerging market exposure and competitive cost position," the firm says.
Mondi will release its full earnings report on 28 February.
INTELLIGENT PACKAGING TO GROW
The global market for active, controlled and intelligent packaging is expected to grow 6.9 percent a year until 2013, according to a report by BCC Research.
The report - Active, Controlled, and Intelligent Packaging for Foods and Beverages - says the industry will be worth US$16.9bn in 2008, increasing to US$23.6bn by 2013.
Controlled packaging, with the largest market share, will reach US$7.7bn by the end of 2008, increasing 4.5 percent to US$9.6bn by 2013.
CANON BUYS PHARMAPACK
Canon Communications has purchased the Pharmapack trade show from French organiser Oriex.
Canon will launch a European version of its BIOMEDevice conference and exhibition, aimed at the medical device and biopharmaceutical manufacturing industries, alongside Pharmapack, which is aimed at the European pharmaceutical packaging market.
Terms of the acquisition were not disclosed.
MAXWELL CLOSES EURO DIVISION
Maxell Europe is closing its packaging division, based in the UK, with the loss of 90 jobs.
The firm, which has concentrated on plastic part moulding and contract packaging in recent years, blames "lower volumes and severe price decreases" for the closure.
The plant, in Shropshire, will remain open to house the company's moulding division.
Source: packaging-technology
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