News Ticker – July 28, 2010

Bemis reports Q2 2010 sales of $1.3 billion via Food Americas buy
The Neenah, WI-based flexible-packaging powerhouse says its Q2 2010 net sales were $1.3 billion, including organic sales growth of 6.5%. The flex-pack business segment increased 53.6% to $1.13 billion, due to its finalized acquisition of Alcan Food Americas operations. Flex-pack operating profit was $125.6 million, or 11.1% percent of net sales. Pressure-sensitive materials net sales rose 7.8% to $143.2 million. Healthy unit volume growth in both European and North American ops and across all product lines offered substantial improvement over last year’s weak market environment. More info  

MWV sales grow 8% by gains in targeted packaging markets
MeadWestvaco Corp. reports operating profit from the company’s business segments increased 45% to $178 million in Q2 2010, compared to $123 million in Q2 2009. Sales rose 8% to $1.55 billion, compared to $1.43 billion in the same period last year. In the Packaging Resources segment, sales volume climbed for targeted products on an improved product mix and solid gains in productivity. Packaging sales increased 10% to $677 million. Bleached paperboard shipments increased 3%; Coated Natural Kraft (CNK®) shipments rose 3% on continuing gains in global retail food packaging. More info

International Paper shows solid net earnings for Q2 2010
Preliminary reports from the Memphis, TN-based paper and board provider and converter shows Q2 2010 net earnings of $93 million, compared with a net loss of $162 million for Q1 2010. Industrial Packaging operating profits increased to $193 million, compared with $46 million in Q1 2010, rising mainly from increases in linerboard and North America box demand, fewer mill outages and further realization of announced price increases. Consumer Packaging had an operating profit of $49 million vs. $31 million in Q1 2010. These results were positively impacted by higher volumes, further realization of coated paperboard price increases and stronger operations. More info

Temple-Inland corrugated-packaging operating income climbs
The Austin, TX-based company reports its Q2 2010 net income of $20 million, compared to a net loss of $4 million in Q1 2010. Operating income for Corrugated Packaging rose to $63 million, compared to $46 million in Q1 2010. Temple-Inland expects a strong second half of the year in Corrugated Packaging as it benefits from higher prices, box-plant transformation and less mill-maintenance downtime. More info

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