Paper Packaging Market 'To Remain Under Pressure', Says Moody's
The paper packaging market is likely to remain under pressure in the medium term, as the first half results of some of Europe's largest producers has revealed a mixed picture, according to Moody's Investors Service.
Paper and pulp producer Sappi, along with packaging producers Mondi and Stora Enso, reported revenue declines of between 3% and 6%, Moody's said, with Sappi recording the largest drop in revenue due to it cutting volumes to safeguard pricing.
However, UPM-Kymmene and The Navigator Company, two other producers of graphic paper, saw their revenues increase by 2.8% and 4.6% respectively.
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