For its full fiscal year, Cascades reports it had sales of $5,157 million compared with $4,996 million in 2019. According to the packaging producer, it achieved sales of $1,284 million in its fourth quarter, which ended Dec. 31, 2020, compared with $1,275 million in the third quarter of 2020 and $1,227 million in the fourth quarter of 2019. Number 8860726. It has accomplished this by harnessing its deep industry domain knowledge and expertise in the physical sciences to inform and create new digital capabilities with AL, ML, and predictive modeling and analytics at GEs Research Center. Learn more about our culture, businesses, and life at GE. 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. He says, These results demonstrate good operational execution within the context of a challenging environment, benefits being realized from our ongoing margin improvement initiatives and the resiliency and dedication of our employees throughout the challenges of COVID-19.. { Portsmouth, NH., June 30th, 2020 Agilyx Corporation (Agilyx), a leader in chemical recycling, today announced that it is leveraging its existing post-use plastic feedstock management system to create a new subsidiary company Cyclyx International, Inc. (Cyclyx). 14-Apr-2022 at 09:17 GMT. Plourde concludes that he expects 2021 to be a busy year for Cascades. Agilyx Corp., Tigard, Oregon, a wholly owned subsidiary of Oslo, Norway-based Agilyx AS, has partnered with ExxonMobil to form Cyclyx International LLC Jan. 1. 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. Cyclyx is currently establishing partnerships with many companies in diverse sectors, including petrochemical, waste and recycling, retail, brand owners as well as municipalities. In addition to supplying plastic waste to Agilyxs customers and ExxonMobil, Cyclyx also aims to supply other customers with feedstock solutions for a wide range of recycling initiatives. Dows targets on eliminating plastic waste in the environment align well with Cyclyxs mission to increase the recycling rate of plastics from 10% to 90%.. Creating the energy technologies of the future and improving the power networks that we depend on today. About Cyclyx International, LLC. All rights reserved. Mario Plourde, president and CEO of Cascades, says the companys consolidated adjusted OIBD of $166 million surpassed the companys cautious outlook for the period, representing an increase of 2 percent sequentially and 9 percent year over year, driving profitability to a record level for a third consecutive year. Contact us to have your plastic waste streams recycled at [emailprotected]. Remember, you can manage cookies in your browsers settings. For more information, visit us at www.cyclyx.com. Offering a suite of products to help unlock the full potential of additive manufacturing. About Dow We initially developed Cyclyx to help source plastic feedstocks appropriate for facilities we are currently developing on three different continents. Over the coming months, Cyclyx will highlight these relationships through additional announcements. 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. According to a news release from Cardinal Scale, the Scrapper uses high-tensile-strength, prestress concrete (PSC) deck weighbridge that is 10-feet wide with lengths up to 52-feet long. { GE is now applying that model with Agilyx to deliver transformational improvements in plastics recycling. Processing & Packaging, Free newsletter The company says the pilot project will be monitored for performance versus standard building materials. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Sign up to our free newsletter and get the latest news sent direct to your inbox. Kraft Heinz says its using flexible plastic packaging in materials across its product portfolio. 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. Related tags: 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. return vOut; Cyclyx International, LLC. This website uses cookies to provide you the best experience. We share societys concern about plastic waste, and our new joint venture is an important step in our efforts to develop advanced recycling technologies and approaches to help meet demand for certified circular polymers.. Cyclyx International Inc. aims to dramatically increase the recyclability of post-use plastics with a priority on fully circular pathways. In Containerboard, we announced details of our strategicBear Islandconversion project in mid-October and helped to de-risk the project with a concurrent$125 millionequity issuance offering. Were deeply proud of GE employees around the world rising to the challenge. We quickly discovered that our process was greatly needed by others in the advanced recycling as well as mechanical recycling industries. Agilyx is the pioneer in chemically recycling difficult-to-recycle post-use plastic streams into a variety of products including circular virgin like plastics, chemical intermediates, and fuels. The Cyclyx International LLC joint venture combines Agilyxs experience in converting end-of-life plastics through its pyrolysis process with Spring, Texas-based ExxonMobils technology expertise and large-scale petrochemical manufacturing network. for (var i=0; i < aTags.length; i++) Cyclyxs aim is to transform the current supply chain and help accelerate the growth of the advanced recycling industry by connecting companies looking for plastic waste solutions with customers engaged in recycling initiatives, according to a news release issued by Agilyx. As a result, we have created Cyclyx so that Agilyx and many other companies can work together to help bridge that gap., The launch of Cyclyx and efforts to establish new partnerships will expand the impact GEs digital solutions have in the recycling of post-use plastics across multiple industries, said Pat Patnode, President and CEO, GE Licensing. Learn how were delivering on our priorities. Taste success with our vanilla solutions. function sanitize_gpt_value2(gptValue) The Cyclyx platform is designed as an industry consortium comprising partners across the value chain, which will enable Agilyx and GE to have much broader impact across industry sectors with innovative plastic recycling solutions. The highlight will be ourBear Islandcontainerboard project, which will account for the lions share of our capex program, he says. 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: . Subscribe, By Jim Cornall This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. 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. According to its earnings report presentation, shipments within the Packaging Products and Containerboard segment decreased 3 percent sequentially, driven by a 6 percent decrease in manufacturing shipments that reflects 1 percent lower capacity utilization rate and higher integration rate in the current period. It is also advocating for the infrastructure to enable these technologies. We will also be finalizing modernization investments in our tissue converting operations, with all of these projects encompassed within our$450to$475 millioncapital program for 2021. Grupo Gondi staff members are now on the job in Monterrey, Mexico, at the companys new containerboard mill. dataLayer.push(dataLayerNews); Over the past 16 years, through extensive research and commercial operations, Agilyx claims to have developed the industrys largest database and predictive analytics around the chemical complexity embedded in waste plastics. if (i!=(aTags.length-1)) dataLayerNews = {}; In 2019 Agilyx entered into a partnership with General Electric through its Licensing and Research divisions to develop artificial intelligence (AI), machine learning (ML) and predictive modeling (PM) and optimization tools that utilize Agilyxs extensive data and domain knowledge to significantly increase plastic recycling rates for all post-use plastics and create new recycling pathways. Cascades says its net earnings per share totaled 72 cents in the fourth quarter of 2020 compared with 51 cents in the third quarter of 2020 and a net loss per share of 27 cents per share in the fourth quarter of 2019. Over the last 16 years, through extensive research and commercial operations, Agilyx has developed the industrys largest database and predictive analytics around the chemical complexity embedded in waste plastics. On its website, Grupo Gondisays it has seven mills in total, including a large complex in Guadalajara. The Scrapper series scales are ideal for scrap yards, recycling centers. Cyclyxs aim is to transform the current supply chain and help accelerate the growth of the advanced recycling industry by connecting companies looking for plastic waste solutions with customers engaged in recycling initiatives, according to a news release issued by Agilyx. 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. 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. For more information, follow us on social media and visit us at www.agilyx.com. The lifting lugs and a foundation template are included with each PSC truck scale to ease the installation. Subscribe By combining world-class engineering with software and analytics, GE helps the world work more efficiently, reliably, and safely. In addition, Cardinal Scale offers single-source convenience and quality construction using stainless steel model CBC compression load cells. 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.. GE people are global, diverse and dedicated, operating with the highest integrity and passion to fulfill GEs mission and deliver for our customers. 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. A critical challenge facing the packaging industry is demonstrating the circularity of materials that are complex and difficult to recycle. 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.. The company tested roofing made from postconsumer flexible plastic at two of its manufacturing plants in Wisconsin and Michigan. Our energy expertise spans from renewable wind energy to emission-reducing natural gas, as well as physical and digital solutions to modernize the grid connecting it all. As part of the agreement, Cyclyx will help supply plastic feedstocks for ExxonMobils advanced recycling projects. 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. Explore a career with us. Accomplished leaders building GEs legacy. Contact information for general inquiries and feedback. As a result, we have created Cyclyx so that Agilyx and many other companies can work together to help bridge that gap.. Free newsletter The company said it is investing in circularity, including advanced recycling technologies to collect, sort, and recycle packaging materials. By embracing diverse teams and perspectives, we are better equipped to build a world that works. Operating income was at $366 million compared with $261 million in 2019, and operating income before depreciation and amortization was $665 million for the year compared with $550 million in 2019. 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. Registered in England and Wales. dataLayerNews.related_tags = sanitize_gpt_value2("Sealed air, Packaging, Recycling, Sustainability, Plastic"); 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. Cyclyx is currently establishing partnerships with companies in diverse sectors, including petrochemicals, waste and recycling, and retail, as well as municipalities. Access GEs recent and historic Annual Reports and accompanying materials. + 41 43 883 0396 Mary-Jane Hogg, global director of waste strategy for Dow, will serve on the executive advisory board of Cyclyx. In a late January news release announcing the mills startup, Posada remarks, With this new paper mill, we will be [able to produce] more than 1 million tons of recycled paper per year, [adding] the component of lightweight paper, balancing the equation between paper and packaging to become totally integrated.. Kate Ringier Explore a timeline of GE technologies that have spurred transformation across the world. 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. 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. This year, Cascades has announced planned progressive and permanent closure of its tissue operations at its Laval plant in Quebec by June. Cyclyx was founded by chemical recycling company Agilyx Corporation, together with ExxonMobil Chemical Company, one of the largest chemical companies in the world. Our test project highlights the companys commitment to sustainable packaging and the priority it places on its environmental, social and governance commitments. 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. The addition of Exxon to Cyclyx does not impact the work being done with GE, she adds. GE noted that it 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. Copyright 2022. Answers to popular and relevant inquiries. Kraft Heinz Co., which is co-headquartered in Chicago and Pittsburgh, has completed a pilot project that demonstrates the use of roof board made from recycled flexible packaging. It has accomplished this by harnessing its deep industry domain knowledge and expertise in the physical sciences to inform and create new digital capabilities with AI, ML, and predictive modeling and analytics at GEs Research Center. Cyclyxs goal is to provide the supply chain transformation needed to enable advanced recycling on a large scale. By joining the Cyclyx consortium, we are building on our goals to innovate solutions and create a better circular economy for the essential plastics our society relies on every day, said Cotterman. 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. Additionally, Reno De Medici S.p.A. had announced the signature of a put option for the sale of Cascades French subsidiary, which produces virgin fiber-based boxboard, in February 2021. In the summer of last year, Agilyx announced that Cyclyx International Inc., which was formed in 2019, had signed a licensing agreement with Boston-based General Electric (GE) to use its artificial intelligence technology (AI) to jointly develop a set of AI tools to improve recycling options for end-of-life plastics through Cyclyxs customized demand approach, thereby increasing the recyclability of this material, says Kate Ringier, vice president, communications and government affairs, Agilyx GmbH. Dow delivered sales of approximately $39 billion in 2020. Cascades Inc., Kingsey Falls, Quebec, has reported strong financial results for its fourth quarter and 2020 fiscal year. The company aid it will leverage Cyclyx customized takeback programs to increase material recovery and other innovations, allowing for higher amounts of recycled content in its products in the future. New recycled-content mill in Monterrey, Mexico, has 400,000 tons per year of capacity. 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. $(document).ready(function() { Cyclyx is looking for member companies including retailers, brand owners, waste management companies, petrochemical companies, municipalities and others looking for solutions to address plastic waste in the environment. The Cyclyx platform has been developed to be an industry consortium comprised of partners across the value chain, which will enable Agilyx and GE to have much broader impact across the many other industry sectors with its innovative plastic recycling solutions. Dow (NYSE: DOW) combines global breadth, asset integration and scale, focused innovation and leading business positions to achieve profitable growth. Lines and paragraphs break automatically. The Scrapper series comes in capacities ranging from 25 tons to 45 tons, which Cardinal Scale says provides an excellent low-cost scale for midsized trucks and pickup trucks pulling trailers.. (Cyclyx) is a post-use plastic feedstock management company working with industry participants to develop innovative recycling solutions for all types of post-use plastics. Dows sustainability journey began more than 30 years ago, and today the company is delivering against its 2025 Sustainability Goals, its third generation of 10-year goals, developed in alignment with the United Nations Sustainable Development Goals, and also recently announced additional targets directed specifically at addressing climate change and plastic waste. var vOut = ""; The company has not only developed these first-to-market products, but has also developed a feedstock management company Cyclyx International, Inc. and is working with many waste service providers, municipalities, petro-chemical, and many brand and retail companies to develop closed-loop advance recycling solutions for mixed waste plastics. Dows membership in Cyclyx will give it access to participate in customized takeback programs and innovations including plastic waste-based circular feedstock specifications tailored to its specific product pathways which will help Dow to advance its sustainability and circularity goals. 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. Sealed air, Packaging, Recycling, Sustainability, Plastic ", He says, As we continue to navigate the challenges and uncertainties inherent in the ongoingpandemic business environment, we remain focused on ensuring the health and safety of our employees and on proactively engaging with our customers to ensure that their needs and expectations are met consistently, promptly and professionally.. Posada says much of the board produced will likely be sold in Mexico, but export options have been explored for sales to the United States, South America and even China. var reg = new RegExp('\\W+', "g"); 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. If the recycled materials perform as well as or better than standard building materials, Kraft Heinz says it will strongly consider standardizing the use of this recycled material in the future. The company plans to report on its use of recycled content to the Association of Plastic Recyclers Demand Champion program, having joined late last year. var aTags = gptValue.split(','); Honeywells UpCycle Advanced Recycling Tech Enters China. For more information about our use of cookies, please view our Privacy Policy. 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. www.ge.com. vOut +=', '; Cascades says its net earnings per share totaled 72 cents in the fourth quarter of 2020 compared with 51 cents in the third quarter of 2020 and a net loss per share of 27 cents per share in the fourth quarter of 2019. Were excited to welcome Dow to Cyclyx and Mary-Jane to the executive advisory board, stated Joe Vaillancourt, CEO of Cyclyx. Kraft Heinz says the materials included 4-foot-by-8-foot boards, and 94 percent of each board was made of postconsumer recycled plastic and fiber. Cyclyx is a post-use plastic feedstock supply chain consortium working with industry participants to develop recycling solutions for all types of post-use plastics. The packaging company says its strong financial performance was driven in part by healthy containerboard demand. Additionally, Cascades says its Specialty Products and European Boxboard segments generated slightly lower results in the quarter. Explore GEs recent and historic SEC filings. 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. VP, Communications & Government Affairs References to Dow or the Company mean Dow Inc. and its subsidiaries. Stay up to date with the latest resources for the planned spin-offs. Copyright - Unless otherwise stated all contents of this web site are 2022 - William Reed Ltd - All Rights Reserved - Full details for the use of materials on this site can be found in the Terms & Conditions, Related topics: Cyclyx redirects more difficult to recycle plastic into recycling by tapping into extensive data on the chemical composition of post-use plastics and using AI and predictive analytics to put it to use. GE is now applying that model with Agilyx to deliver transformational improvements in plastics recycling. Transforming how industry solves its toughest challenges by bringing simplicity, speed and scale to digital transformation. All Rights Reserved. The company says the average selling price in Canadian dollars was stable in the quarter. Jan. 1. Huskys Essential Guide to Lightweighting, Protect Dairy with the Power of Fermentation, Cargill dairy innovation: Plant-based dairy alternatives, Sign up to our free newsletter and get the latest news sent direct to your inbox, Processing Equipment & Systems, Automation, Control, Packaging & Packing Materials, Containers, News & Analysis on the Dairy Industry & Markets. The Cyclyx business model brings tangible solutions, turning plastic waste into valuable new products. Our technology, global network, and exceptional team is fueled by a missionbuilding a world that works. Sealed Air is a global provider of packaging solutions. 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. } } At GE, we are committed to building a more diverse workforce and a more inclusive workplace. The company says operating income before depreciation and amortization (OIBD) was $181 million in the fourth quarter of 2020 compared with $154 million in the third quarter of 2020 and $76 million in the fourth quarter of 2019. We build intelligent devices, data analytics, applications and services to enable healthcare practitioners to deliver care more efficiently and with better outcomes. Cardinal Scale, Webb City, Missouri, offers its Scrapper series truck scales that are engineered specifically for scrap yards, recycling centers and landscaping facilities that require a medium-duty National Type Evaluation Program (NTEP) legal-for-trade scale at an economical price.
Sitemap 15