Fourth Quarter Highlights
Q4 Adjusted Earnings per Diluted Share increased to $0.21 versus $0.17 in the prior year period.
Q4 Adjusted EBITDA increased to $171.8 million versus $158.3 million in the prior year period.
Company initiates $0.05 per share quarterly dividend and $250 million share repurchase program.
Company acquires folding carton converting and paperboard mill assets of Cascades' Norampac Division.
Cascades Inc. has reached an agreement for the sale of its North American boxboard manufacturing and converting assets to Graphic Packaging Holding Company for $44.9 million.
The Cascades boxboard units affected by the transaction are:
East Angus, Québec, a mill that manufactures recycled coated boxboard for the production of folding cartons. Founded in 1910, it was purchased by Cascades in 1983.
Benson Group, one of the UK's leading printed folding carton suppliers, has announced details of a safety award received from their parent company, Graphic Packaging International (GPI), for its manufacturing facility in Bardon, Leicestershire.Read more
The value of the deal was not disclosed. The new firm plans to focus on its core strengths, which is producing specialist cartons, leaflets and labels for the healthcare and pharmaceutical sectors, Medica packaging said in a statement.
John Bath has been appointed as the company's new CEO.Read more
Q3 Net Sales increased $49.3 million or 4.9%, after adjusting for the impact of divested businesses.
Q3 Adjusted Earnings per Diluted Share increased to $0.17 versus $0.12 in the prior year period.
Q3 Adjusted EBITDA increased to $190.6 million versus $175.2 million in the prior year period.
Q3 Adjusted EBITDA margin was 18.2% versus 15.1% in the prior year period.