Packaging Corp of America has reported a three percent increase in first quarter profit to US$32.1m, compared with US$31.2m for the same period last year.
Revenue rose three percent to US$577.5m from US$559.2m last year.
The company, which makes containerboard and corrugated packaging products, says results were strengthened by better pricing and volume.
However, that was slightly offset an increase in energy-related costs, recycled fibre, chemical and labour costs and bad debt.
AMCOR TO SELL PACKAGING PLANTS TO ACCENT EQUITY
Amcor has announced it is selling two flexibles packaging plants in Sweden and the UK to Swedish private equity group Accent Equity 2008.
The plants in Lund and Somerset produce unprinted films for the meat and fish segments, and have combined sales of €85m.
Amcor says the divestments are part of a restructuring of Amcor's flexibles operations in Western Europe.
GRAPHIC PACKAGING TO SHUT PLANTS
Graphic Packaging International will close its folding carton manufacturing operations at its facility in Ohio by the end of the third quarter.
The company will also cease production at its paper lamination plant in Elk Grove Village, Illinois.
Graphic Packaging says the closures are part of its overall re-alignment and consolidation of operations to optimise its manufacturing footprint.
The firm will continue to operate its boxboard mill, also located at the Middletown site, to produce coated-recycled paperboard for the consumer packaging industry.
BASF UNVEILS ECOFLEX EXPANSION PLANS
BASF has announced plans for a significant expansion of its production plant for the biodegradable plastic Ecoflex in Germnay.
The expansion at the Ludwigshafen site will raise Ecoflex production capacity from 14,000t to 60,000t per year.
Production at the expanded plant will commence in the third quarter of 2010.
Ecoflex is a petrochemicals-based plastic which has the properties of conventional polyethylene but is fully biodegradable.
BASF's specialty polymers business unit head Michael Stumpp says the global market for biodegradable and bio-based plastics is growing at more than 20 percent per year.
"The new production capacity will substantially strengthen and consolidate our position," he says.
Source: packaging-technology
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