KapStone Paper and Packaging Corporation reported results for the 2Q ended June 30, 2016. Consolidated net sales of $785 million in the 2Q 2016 increased by $114 million, or 17% compared to $671 million for the 2Q 2015, as the company said in the press release received by Lesprom Network.
Operating income of $44 million for the 2Q 2016 decreased by $18 million, or 29%, compared to the 2Q 2015.
Roger W. Stone, Chairman and CEO, stated, "KapStone's operations performed well in the 2Q with our mills producing over 668,000 tons of paper. The benefits from the Victory acquisition were offset by lower prices and a less favorable product mix. Our operating cash flow year-to-date was up $17 million. We achieved our goal of integrating an annual run rate of 115,000 tons of Victory's packaging needs into our mill and plant system. Also, with our recent strategic investments we expect additional mill integration within the next 12 months."
Headquartered in Northbrook, IL, KapStone Paper and Packaging Corporation is the fifth largest producer of containerboard and corrugated packaging products and is the largest kraft paper producer in the United States. The Company has four paper mills, 21 converting plants and 65 distribution centers.
