As a leading materials science company, Dow is at the forefront in driving the transformational change that is needed to tackle the existential threats of climate change and environmental degradation. For its full fiscal year, Cascades reports it had sales of $5,157 million compared with $4,996 million in 2019.
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Cyclyx International, LLC. Cyclyx was founded by chemical recycling company Agilyx Corporation, together with ExxonMobil Chemical Company, one of the largest chemical companies in the world.
In its fourth quarter, the company had an operating income of $109 million compared with $73 million in the third quarter of 2020 and an operating loss of $1 million in the fourth quarter of 2019. In its earnings presentation, the company reports shipments in this segment increased 5 percent on a sequential basis in the fourth quarter of 2020, driven by a 7 percent increase in shipments of converted products in all market segments, which is a reflection of weaker shipment levels in the prior quarter related to COVID-19s impact on demand levels, primarily for away-from-home converted products.
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The highlight will be ourBear Islandcontainerboard project, which will account for the lions share of our capex program, he says. The companies have 75 percent and 25 percent stakes, respectively, in Cyclyx, which will aggregate and preprocess plastic scrap to meet the technical requirements of a wide range of recycling processes while ensuring reliable supply to its customers. The company had net earnings per share of $2.04 in 2020 compared with 77 cents in 2019. With the Tissue segment, he says stronger-than-expected volumes in December, usual seasonal softness in the first quarter of the year and unfavorable demand impact on away-from-home products related to the pandemic will likely translate into weaker sequential performance in the segment. Plourde says, A large portion of our announcedmodernization investments in the Tissue segment have been completed, with the remaining two state-of-the-art converting lines expected to be installed in the coming quarters. Kraft Heinz continues to search for ways to make our packaging recyclable and to incorporate recycled content within our supply chain., Susan Graff, vice president of Michigan-based Resource Recycling Systems and a MRFF research director, adds, This Kraft Heinz project is a powerful example of environmental stewardship, reducing use of virgin materials by choosing roofing material made of recycled flexible plastic packaging. Working with recyclers, theyve provided a model for addressing expectations for full life cycle management of plastic while using an efficient, low-cost package for consumer product protection.. Registered in England and Wales. Cyclyx is currently establishing partnerships with many companies in diverse sectors, including petrochemical, waste and recycling, retail, brand owners as well as municipalities.
Cascades reports that its fourth-quarter performance was driven by a solid contribution from its Containerboard segment, fueled by stronger-than-expected demand on both the manufacturing and converting side. A critical challenge facing the packaging industry is demonstrating the circularity of materials that are complex and difficult to recycle. Dows portfolio of plastics, industrial intermediates, coatings and silicones businesses delivers a broad range of differentiated science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure, mobility and consumer care. As we take on new datasets and challenges with new consortium partners, the AI team at GE Research will be able to build more robust analytics tools that not only expand industry applications but also lead to further improvements in recycling solutions, said Pat Patnode, President and CEO, GE Licensing. We expect these investments to be fully funded by solid projected cash flows for the year, in part driven by our ongoing margin improvement initiatives that are targeting net revenue management, production efficiency, organizational effectiveness and supply chain optimization.
The company says it also will be progressing on its conversion of the White Birch Bear Island paper mill in Ashland, Virginia, which will produce lightweight, 100-percent-recycled linerboard and medium for the North American market.
Kate Ringier
Cascades says its forecasted 2021 capital expenditures will be between $450 million and $475 million, including $250 million for the Bear Island containerboard conversion project in Virginia. Subscribe, By Jim Cornall
Agilyx has expertise in converting difficult-to-recycle post-use plastic waste streams into a variety of products, including circular virgin-like plastics, chemical intermediates, and fuels. Our mission at Agilyx is clearto help solve the issue of plastic waste., This joint venture represents an entirely new proposition about the way we handle plastic waste, adds Joe Vaillancourt, the newly appointed chief executive officer of Cyclyx International LLC. State of the Municipal Recycling Industry, Recycling Today Global Edition back issues, SSIs Pri-Max Primary Reducer is the last preshredder youll ever need, 2022 GIE Media, Inc. All Rights Reserved. An early February article by Fastmarkets RISI indicates the firm produced its first reel Jan. 5.
In 2019 Agilyx entered into a partnership with General Electric to develop artificial intelligence (AI), machine learning (ML), and predictive modeling (PM) and optimization tools that leverage Agilyxs extensive data and domain knowledge to significantly increase plastic recycling rates for all post-use plastics, creating new recycling pathways.
New recycled-content mill in Monterrey, Mexico, has 400,000 tons per year of capacity.
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The article also quotes Grupo Gondi CEO Eduardo Posada as saying, Despite the challenges we faced due to COVID-19, we are going to market in a very favorable moment, when we see increased demand and lack of supply..
Grupo Gondi staff members are now on the job in Monterrey, Mexico, at the companys new containerboard mill. Cyclyx has been formed to be a consortium-based entity and since its founding there have been a growing number of companies joining its membership. Cyclyxs goal is to provide the supply chain transformation needed to enable advanced recycling on a large scale. kate.ringier@agilyx.com. We build intelligent devices, data analytics, applications and services to enable healthcare practitioners to deliver care more efficiently and with better outcomes. VP, Communications & Government Affairs We quickly discovered that our process was greatly needed by others in the advanced recycling as well as mechanical recycling industries. As a company striving to increase global plastic recovery, we have found that the data generated over our history can be used as a key tool to greatly expand and accelerate the recycling of post-use plastics, stated Joe Vaillancourt, CEO of Agilyx. Sealed Air is a global provider of packaging solutions. Access important shareholder information. {
Agilyx Launches Feedstock Management Company Cyclyx International, A Powerful Tool for Reverse Engineering of Polymer Films & Other Materials, High-load ball screws bring greater force, larger parts to electric injection molding, Achieve 20 times greater efficiency at color and material changeover, New Rapid-Cure, Self-Adhesive LSR Forms Firm Bond with Polycarbonate, Massless Prototyping an Energy-Saving Alternative to 3D-Printed Physical Parts, Polymers Enhance Tractor Functionality and Efficiency, Plastics Exec Recruitment Firm Grows with Industry, Hanwha Delivers Carbon-Fiber-Reinforced Hydrogen Tanks to Shell, Allowed HTML tags: . Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. GE has successfully developed and applied innovative digital solutions across its major industry sectors in aviation, energy, healthcare and transportation that have delivered more efficient products and services and created hundreds of millions of dollars in new business value for GE and its customers. Cascades says its Tissue segment generated good results, with stable consumer retail tissue demand helping to offset lower demand levels for away-from-home products as a result of the pandemic. A culture of integrity, compliance, safety, and respect for human rights, while reducing our environmental footprint. If you do not accept the deployment of cookies or restrict them in any way, you will not be able to use all the interactive functions on our website. He continues, The European Boxboard segment announced the acquisition of Papelera del Principado S.A. (Paprinsa) and three affiliated companies will strengthen and consolidateRenode Medici's competitive positioning within European recycled boxboard markets and is expected to close at the end of the first quarter of 2021.. For more than 125 years, GE has invented the future of industry, and today it leads new paradigms in additive manufacturing, materials science, and data analytics. The companys mission is to increase the recycling rate of plastics from 10% to 90% by using Cyclyxs expertise in understanding the chemical composition of post-use plastic in collaboration with industry partners to create a new, innovative supply chain. The company says its average selling price in this segment increased by 2 percent in Canadian dollars, reflecting early benefits being realized from its Nov. 1 price increase. Access GEs recent and historic Annual Reports and accompanying materials. Kraft Heinz says its using flexible plastic packaging in materials across its product portfolio. This is a significant milestone for Agilyx and Cyclyx as it marks the beginning of an entirely new approach to plastic waste recovery, says Tim Stedman, chief executive officer at Agilyx, in a news release about the joint venture. Taste success with our vanilla solutions. Learn about governance at GE, including the latest Proxy Statement and information about the GE Board of Directors. Sign up to our free newsletter and get the latest news sent direct to your inbox. The company says its net debt was at $1,679 million as of Dec. 31, 2020, compared with $1,982 million as of Sept. 30, 2020, which Cascades says reflects solid cash flow from operations. In 2020, total capital expenditures paid net of disposals were at $195 million compared with $231 million in 2019. PORTSMOUTH, New Hampshire, USA, January 20, 2022 Cyclyx International, a consortium-based plastic feedstock management company with a mission to increase the recycling rate of plastic from 10% to 90%, has announced that Dow (NYSE: DOW) has joined the Cyclyx consortium. Honeywells UpCycle Advanced Recycling Tech Enters China. Plourde concludes that Cascades near-term outlook is positive despite ongoing COVID-19-related uncertainty. He says containerboard demand remains strong and, combined with recent industry price increases, will help to offset raw material price increases. }); Dr Ron Cotterman, vice president of sustainability innovation and strategy at Sealed Air will join the groups executive advisory board. Were continuing to do all we can to support our customers and employees during this unprecedented time. Chemical recycling pioneer Agilyx Corp. announced that it is leveraging its existing post-use plastic feedstock management system to create a new subsidiary company, Cyclyx International Inc. About Cyclyx International, LLC. Leveraging Agilyxs expertise in plastics recycling and the scale of partners like ExxonMobil, we aim to create a lasting and impactful change., We see Cyclyx as helping to fill an important missing link in the plastics recycling value chain that is needed for advanced recycling solutions to scale, Karen McKee, president of ExxonMobil Chemical Co., says.