Latest news with #paper
Irish Times
14 minutes ago
- Business
- Irish Times
Smurfit Westrock still sees up to $5.2bn of 2025 earnings
Cardboard box-maker Smurfit Westrock still expects to post full-year earnings growth of as much as 11 per cent to $5.2 billion (€4.5 billion), after reporting a 'significant improvement' in its North American operations. The improvement essentially relates to legacy operations of the former Westrock company in the US, which Smurfit Kappa merged with last July to create the world's largest paper and packaging group. Earnings before interest, tax, depreciation and amortisation (Ebitda) amounted to $1.21 billion for the second quarter of this year, Smurfit Westrock said in a statement on Wednesday. That was marginally higher than its forecast for a figure of $1.2 billion. 'This performance is driven by the significant improvement in our North American business and continued excellent results from our Latin American operations, somewhat offset by a resilient performance from our Emea and Apac businesses,' chief executive Tony Smurfit said. READ MORE Emea stands for Europe, the Middle East and Africa, while Apac refers to the Asia-Pacific region. Smurfit Westrock reiterated that it expects full-year Ebitda to amount to between $5 billion and $5.2 billion. 'With our geographic reach, unrivalled product portfolio and most importantly our people, we see extensive opportunities across all our regions,' said Mr Smurfit. 'In North America, we believe the implementation of our operating model will drive continued significant improvement. In our EMEA and APAC region, we have a well invested asset base and strong market positions, primed to take advantage of an improved demand environment. Latin America remains a region of substantial growth opportunities, both organic and inorganic.' Inorganic growth typically refers to acquisitions. Last July, Smurfit Kappa merged with Atlanta-based cardboard box-making rival Westrock, and moved its listing to the US. The move effectively doubled the company size, with more than $30 billion of annual revenues.
Yahoo
a day ago
- Business
- Yahoo
JK Paper to acquire Borkar Packaging amid profit decline
Indian paper and packaging board manufacturer JK Paper has reported a continuous decline in profit for the eighth consecutive quarter. The company's consolidated net profit for the quarter ending 30 June saw a nearly 42% year-on-year drop to Rs812.3m ($9.3m). It reported gross revenues from operations of Rs14.71bn. The company also disclosed its strategic move to acquire a 72% stake in Borkar Packaging for Rs2.35bn. This acquisition comes at a time when domestic paper manufacturers, including JK Paper, are grappling with the dual challenge of escalating wood costs and competition from lower-priced imports. JK Paper said: 'Lower volume and sales realisation due to cheap imports with continued high wood cost have adversely impacted performance. Sirpur Paper Mills also had annual planned shut during the quarter.' The company's net revenue from operations also witnessed a slight decline of 2.3% to Rs16.74bn while raw material costs surged by 9.2%, reported Reuters. In response to the country's industry's concerns, India has initiated antidumping investigations into imports of paperboard from countries such as Indonesia, Chile, and China. These imports have reportedly been affecting the local market, where paperboard is a crucial material for packaging consumer goods, pharmaceuticals, and electronics. JK Paper's acquisition of Borkar Packaging is a strategic move to strengthen its position in the packaging sector. Borkar, which counts major consumer conglomerates such as Unilever and Nestlé among its clients, operates factories in eight locations across India. With this acquisition, JK Paper aims to become one of the top three players in the folding cartons segment of the packaging industry. "JK Paper to acquire Borkar Packaging amid profit decline" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Reuters
2 days ago
- Business
- Reuters
India's JK Paper reports decline in first-quarter profit on higher costs
July 28 (Reuters) - Indian paper and packaging board maker JK Paper ( opens new tab reported an eighth straight quarter of a decline in profit on Monday and said it would acquire a 72% stake in private peer Borkar Packaging for 2.35 billion rupees. Domestic paper manufacturers have been facing a double whammy of higher wood prices — a key raw material — and lower-priced imports in recent quarters. JK Paper's consolidated net profit fell nearly 42% year-on-year to 812.3 million rupees ($9.4 million) for the quarter ended June 30. The core business "continued to face headwinds from cheap imports resulting in depressed sales realization and ongoing high domestic wood prices", said Managing Director Harsh Singhania. Net revenue from operations declined 2.3% to 16.74 billion rupees, while raw material costs rose 9.2%. Following appeals from the industry, India launched, opens new tab anti-dumping probes into imports of paperboard — used in packaging of products such as consumer goods, pharmaceuticals and electronics — from Indonesia, Chile and China. Separately, JK Paper said the acquisition of Borkar — which supplies to consumer conglomerates such as Unilever and Nestle — will help it emerge among the top three players in the folding cartons segment of packaging. Borkar has factories in eight locations across India. ($1 = 86.6830 Indian rupees)
CNA
7 days ago
- Business
- CNA
Recycling rate drops to lowest level since 2006
Singapore's overall recycling rate has dropped to 50 per cent last year compared to 60 per cent a decade ago. This is the lowest since 2006. Among the causes is the rising cost of recycling paper. The drop in recycling had no impact on the waste generated in the country, which was about 11 per cent less.
Arab News
08-07-2025
- General
- Arab News
What We Are Reading Today: ‘Paper: Paging Through History'
Author: Mark Kurlansky 'Paper: Paging Through History' by Mark Kurlansky, published in 2016, is a sweeping, detailed chronicle of how paper, arguably one of humanity's most versatile inventions, traveled from its origins in ancient China across continents and centuries to reshape civilizations. Kurlansky, an American journalist known for his deep dives into everyday materials, traces how humans moved from parchment and silk to mulberry bark and linen rags. Oral narrators once carried knowledge across generations; paper allowed that information to outlive them. Each papermaker refined their formula to allow ink to glide but not soak, creating sheets that were durable and portable. The watermark, made from a simple wire design, left a faint imprint that branded the paper. That part was owned by the papermaker, not the paper mill, and customers began choosing paper based on those marks. Paper was introduced to Europe by Arabs, who brought refined papermaking techniques to the continent. Europeans initially hesitated to adopt paper widely because oral tradition was the preferred way to share important stories; they felt that writing it down cheapened its value. Over time, through trade and cultural contact in regions like Andalusia and along the Silk Road, paper gradually gained acceptance and became widely used. Kurlansky delves into how the use of paper birthed various industries. It offered people with an entrepreneurial spirit the ability to make a living. Papermakers changed the art world, too, with the introduction of special papers, such as watercolor paper. Paper also shifted the world of journalism: Broadsheets, magazines, pamphlets, almanacs and, of course, books became more widely available at a lower cost. Yesterday's newspaper would also be reused to line things like bird cages or to wrap food with. It helped popularize things like playing cards, wrapping paper, wallpaper, paper fans, greeting cards and paper money, and lent itself to important medical, legal and political documents, such as the US Declaration of Independence. 'Paper: Paging Through History' was such a captivating read that I often paused to reflect, and I told everyone around me about the book. One moment that stood out was the 19th-century French campaign in which women were encouraged to donate their old handkerchiefs and linen to papermakers, as it might one day return to them in the form of a love letter. Today, paper remains a vital medium where thoughts, plans, and dreams are recorded. It might seem mundane, but in an increasingly digitized world, its ability to let a narrative stand the test of time is history itself, like this very book.
