Constantia Group says it recorded substantial sales and earnings growth at every level in the first quarter, thanks to the full consolidation of AMAG — a leading supplier of select premium aluminium products — in the fourth quarter of 2007.
First-quarter sales rose 58.4 percent from €337.6m in 2007 to €534.8m in 2008.
EBITDA increased 82.5 percent from €46.7m to €85.2m.
Group production comprises aluminium (37 percent of sales), corrugated board (16 percent) and flexible packaging (47 percent).
The company says during the first two months of 2008, new order volume was sluggish in all three business segments, after a period of high capacity utilisation in 2007.
CONSTANTIA SOLE SHAREHOLDER OF DUROPACK
Constantia Packaging has become the sole shareholder of Duropack AG following the acquisition of the minority interest formerly held by Smurfit Kappa AG.
Smurift owned a 40 percent stake in Duropack AG since it acquired Interwell AG, while Constantia Packaging AG owned the remaining 60 percent.
Constantia paid €55m for Smurift's shares.
The transaction is expected to close soon, since it does not require extensive due diligence or raise antitrust issues.
MEADWESTVACO TO CLOSE PLANT
MeadWestvaco Corp says it plans to close its packaging plant in Pennsylvania as part of an effort to cut costs and streamline operations.
The closure will affect around 145 employees.
The company says production of visual and paperboard packaging for the personal care industry will be relocated to other plants and overall supplies will not be affected.
BOREALIS REPORTS Q1 PROFITS
Borealis has reported a 15 percent increase in Q1 net profit to €130m.
Net interest-bearing debt increased €194m and the gearing ratio increased to 36 percent, up from 27 percent in the fourth quarter of 2007, Borealis says.
The first-quarter results were achieved by growth in the polyolefin target market segments of infrastructure, automotive and advanced packaging as well as positive contributions from the newly formed base chemicals business and from Borouge, Borealis' joint venture with the Abu Dhabi National Oil Company.
DUPONT TO INVEST US$150M IN EXPANSION
DuPont has announced it is investing around US$150m to expand and upgrade manufacturing facilities in Europe, the US and Asia to meet strong demand for its specialty ethylene copolymers in photovoltaics, packaging and automotive markets, as well as for new infrastructure in emerging economies.
Newly announced investments include added capacity at Dordrecht, the Netherlands, to expand the global operations network for Fusabond modifiers and Bynel adhesive resins and to serve the European market.
BOSCH SEES PROFITS RISE
The Bosch Group has reported sales revenue increased six percent in 2007 to €46.3bn.
Profit before tax came to €3.8bn, compared with €3.1bn in the previous year.
The industrial technology business sector recorded a sales increase of 9.4 percent in 2007, to €6bn.
Bosch says following restructuring measures, packaging technology developed better than in previous years.
Source: packaging-technology
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