Market: Printing & Writing Papers
Posted May 12, 2017
Appvion recorded 1Q 2017 operating income of $6.6 million compared to operating income of $9.6 million for 1Q 2016.
Appvion’s 1Q 2017 net sales of $166.7 million were $13.8 million lower than 1Q 2016. Thermal papers net sales were $95 million, a decline of $6.9 million compared to 1Q 2016. Carbonless papers net sales of $71.7 million were $6.9 million lower compared to 1Q 2016.
“During the 1Q, we were successful in extending our strong operational performance and expanding the scope and benefits of the rigorous profit improvement process implemented in 2016,” said Kevin Gilligan, Appvion’s CEO. He added that the Company exceeded its 1Q 2017 target for savings from implemented projects and is ahead of plan to achieve its $25 million savings target for fullyear 2017. “We continue to focus on the elements of our business over which we have the greatest influence in an effort to counter the recent negative impacts of market factors such as competitive pricing and currency exchange rates,” Gilligan said.
Appvion produces thermal, carbonless, security, inkjet, digital specialty and colored papers. Appvion, headquartered in Appleton, Wisconsin, has manufacturing operations in Wisconsin, Ohio and Pennsylvania.