Colbert Packaging installs state-of-the-art Signature Folder Gluer
Colbert Packaging Corporation, a premier provider of paperboard packaging solutions, announces its implementation of a new Signature™ Compact Folder Gluer in its Kenosha, Wisconsin facility. To satisfy growing demand for speed and accuracy, coupled with cost efficiency, the model 90 SLB includes a Sig Feed pre-feeder, Sig Pack auto carton packer, Leary glue system, overhead auto ejection system and more. This equipment will help Colbert employees meet and exceed the stringent quality expectations of its pharmaceutical and consumer product customers.
Pinnacle Renewable Energy and Sumitomo sign long-term contract
Pinacle Renewable Energy ("Pinnacle") has entered into a new long-term, take-or-pay contract with Sumitomo Corporation, a large, diversified trading company in Japan. Under the terms of the contract, Pinnacle will supply 200,000 metric tons per annum of wood pellets to Sumitomo starting in 2022.
These industrial wood pellets will be used to supply its customer in Japan. This will bring the Company's contracted regional sales into Asia to about 48% in 2022.
Voith Installs MasterJet Pro Headbox at Unionpel mill, Argentina
Unionpel, one of Argentina's leading packaging paper manufacturers, chose Voith to supply its new MasterJet Pro headbox fitted with EdgeMaster format limiters for its paper machine (PM1) that operates at its San Justo mill, located in Buenos Aires, the capital of Argentina.
The new Voith MasterJet Pro headbox allowed the manufacturer to achieve significant improvements in paper web formation, as well as a significant decrease of CD basis weight variations. The erection, commissioning and start-up services were completed as scheduled, and the machine’s commercial production was resumed immediately after start-up.
Lee & Man Paper’s revenue up 24.7% in 2018
Lee & Man Paper Manufacturing Limited (Group) announced its annual results for the year ended 31 December 2018. During the year, the Group’s total revenue increased by 24.7% to HK$32.21 billion ($4.1 billion), compared to HK$25.84 billion ($3.3 billion) in 2017. Annual net profit was HK$4.88 billion ($626 million) and net profit per ton was HK$797 ($102.2).
Dr Raymond Lee, Chairman of Lee & Man Paper, said: “Stringent requirements on environmental protection, energy conservation and emission reduction, together with tougher enforcement actions have resulted in a more concentrated market, enabling the Group to gain more market share and stronger bargaining power.