News Ticker – August 26, 2010


Amcor reports FY 2010 after-tax profits up 13.5%
The Melbourne, Australia-based packaging giant says it made AUS$409.2 million in after-tax profit in FY 2010. Significant items, primarily relating to its purchase of the former Alcan Packaging businesses and planned restructuring, were an after-tax expense of AUS$226.2 million. The integration of Alcan Packaging businesses is progressing well and on track to achieve synergy targets, the converter says. It remains confident of achieving up to AUS$250 million in synergies relating to overhead-cost reductions, procurement-cost savings and improved operational efficiencies. More info

Lee & Man Paper to install new Metso coated-cartonboard line
The Chinese substrate provider will add a new Metso coated-cartonboard production line to its Hongmei mill in Guangdong province. Startup is scheduled for the end of 2011. While the value of the order is not disclosed, a typical board-production line of this type is about US$95 million to US$120 million, depending on the scope of delivery and production output. The Metso system will include a complete white-lined chipboard machine—from four-ply multi-Fourdrinier forming section to winder, with related air systems. In 2009, Lee & Man had a combined annual production capacity of close to 4.5 million metric tons of paper. More info

DuPont to raise Elvax, Elvaloy AC resin prices
Effective Sept. 1, the Wilmington, DE-based company’s Packaging & Industrial Polymers division will increase prices globally by 6 cents/lb (13 cents/kg) on all grades of DuPont Elvax® ethylene vinyl acetate resins, and 10 cents/lb (22 cents/kg) on all grades of DuPont Elvaloy® AC acrylate copolymer resins. More info  

Sonoco names Weller as MD of Asia Operations
The Hartsville, SC-based global packaging supplier promotes Brad Weller to division vp and managing director-Asia, with responsibility for all of Sonoco’s industrial and consumer businesses throughout Asia. Weller had been division gm-Industrial Products, Asia. He will remain in Sonoco’s Asia headquarters in Singapore where he will direct Sonoco’s industrial and consumer packaging operations in China, Indonesia, Malaysia, Singapore, Taiwan and Thailand. Other Asian-ops personnel moves: Ernest Yong joins Sonoco as gm-Consumer; and Mark Chenhall is named MD for Sonoco’s industrial converting and consumer packaging businesses in Australia and New Zealand. More info

EDI promotes Stapinoiu to European sales director
The Chippewa Falls, WI-based dies and coating-system supplier names Andrei Stapinoiu as its new sales director for Europe. Along with EDI’s network of agents throughout Europe and the Middle East, Stapinoiu will now also oversee the company’s agent in South Africa and supervise sales activities at EDI’s German-based European subsidiary, EDI GmbH. He can be reached at +44-7704-325432, email: astapinoiu@extrusiondies.com

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