Spartech Corporation has recorded a drop in sales for the third quarter running in its Packaging Technologies Q4 results but insisted it is positioned to capitalise on expanded customer bases in 2013.
CSM clawed back some pre-tax profit losses from higher raw material costs and falling demand in its second financial quarter, but pre-tax profits remain down for the half year (H1).
The UK Packaging and Film Association (PAFA) has warned suppliers ‘not to be surprised’ if plastic prices have risen due to the economic climate and a lack of recycled supply.
Huhtamaki suffered mixed fortunes in the first half of 2011 as strong performance in its flexible ops and emerging markets were countered by high raw material costs, negative currency effects and operational problems on some lines.
A continued rise in raw material costs will hit lower first half earnings, says bakery ingredients giant CSM in a trading update, with price hikes not enough to offset the surge.
Silgan announced increased net sales and stable net income in its first quarter results, thanks mainly to passing on raw material costs to customers and gains from recent acquisitions.
Amcor said its profits soared 55 per cent to €197m (A$267m) in the six months ending 31 December thanks to significant savings in the wake of the Alcan takeover and steady sales volumes.
Flint Group has blamed an imminent 22 per cent price hike on packaging inks in Europe on soaring raw material costs and warned further increases were likely next year.
CPC Packaging UK said yesterday that high raw material prices were partly behind the firm going into administration this week as it confirmed almost two thirds of its workforce had already been made redundant.
Danisco has stopped selling the sweetener alitame and has withdrawn
its Food and Drug Administration (FDA) petition for it to be used
in food in America, citing uneconomic production.
New re-sealable packaging for beverages, designed as a
hybrid between a bottle, can and pouch, offers
processors both environmental and convenience benefits for their
products, according to its manufacturer.
Consumers look likely to bear the brunt of further hikes in milk
prices, as Glanbia consumer foods boss Colin Gordon warns that his
company can carry raw material costs no longer.
FMC Biopolymer will again increase prices for its food ingredients
on the back of high energy and raw material costs, and the company
says it expects prices to continue rising.
Leading player in the US bakery sector Panera Bread looks to be
holding its own in an industry squeezed by high raw material costs
and a powerful retail sector reluctant to pass on price increases.
More bad news for packaging firms - BASF has announced further
price rises for the plastic polystyrene. Costs are set to be
increased in Europe by €100 euros per metric ton.
Long term investments in added-value products contributed to
British starch group Tate & Lyle's end of year results with
strong US performance offsetting squeezed margins due to surging
raw material prices. A lift in demand...
