Business News

ECI Software Solutions has announced a new Private Supply Network (PSN) integration with LD Products for its Red Falcon office products e-commerce software. ECI said the deal will allow Red Falcon users to send purchase orders to LD Products – one of the largest distributors of printer supplies to dealers in the US OP channel…

Packaging Corporation of America’s (PCA) Boise paper division has reported a significant jump in Q2 operating profit and EBITDA. In the three months ended 30 June 2022, Boise achieved adjusted operating profit of $26.2 million compared with $5.4 million in Q2 2021. Adjusted EBITDA increased from $11.6 million 12 months ago to $31.5 million. The…

3M’s Stationery and Office unit – part of its Consumer business group – reported Q2 2022 revenue of $342 million. This was $10 million higher than in the same quarter last year, with 3M confirming this included (an unspecified amount of) organic growth. 3M’s DIY segment – also part of Consumer – saw reported sales…

Paper Excellence has wasted no time in capitalising on its recent Domtar acquisition to accelerate consolidation in the North American pulp, paper and packaging markets. Just a few months after closing its $3 billion deal for Domtar, Paper Excellence has announced it is to purchase Canada-based Resolute for an enterprise value of around $2.7 billion. Resolute…

Acme United has made a bolt-on acquisition in the first aid category. The US-based supplier has acquired the assets of Safety Made, a leading manufacturer of first aid kits for the promotional products industry, for an undisclosed price. Safety Made – which was founded in 2017 – generated revenue in 2021 of approximately $4.9 million…

The use of drones in last mile deliveries is a tantalizing prospect, but is it all pie in the sky? OPI’s Michelle Sturman finds out… Unmanned aerial vehicles (UAV) or unmanned aerial systems (UAS), better known as drones, are already used in the military, medical, agriculture, construction and media sectors, but their application for last…

US distribution company Veritiv reported excellent sales and earnings growth in the first quarter of 2022. The company achieved Q1 sales of $1.9 billion, up by more than 19% versus the same quarter last year. Meanwhile, adjusted EBITDA was $119.5 million and net profit came in at $78.5 million – a record number for any…

Steelcase has agreed to acquire a Minnesota-based designer and manufacturer of precision-tailored wood furniture for the workplace. The global contract furniture giant is set to buy HALCON in a deal worth up to $135 million. Stewartville-based HALCON was founded in 1977 by Peter Conway and specialiszes in custom wood and executive-level tables, credenzas and desks. In…

The share price of HP Inc jumped by more than 16% in early trading today after it was revealed that Warren Buffett’s Berkshire Hathaway had become its largest single shareholder. In two HP regulatory filings dated April 6, it was shown that Berkshire Hathaway had acquired just over 120 million shares of HP common stock…