On Monday, Shares of Graphic Packaging Holding Company (NYSE:GPK), remained flat at $14.29.
Graphic Packaging Holding Company, stated Net Income for third quarter 2015 of $60.2 million, or $0.18 per share, based upon 330.4 million weighted average diluted shares. This compares to third quarter 2014 Net Income of $53.0 million, or $0.16 per share, based on 330.6 million weighted average diluted shares.
Third quarter 2015 Net Income was negatively influenced by $5.8 million of special charges after taxes (primarily Charges Associated with Business Combinations). When adjusting for these charges, Adjusted Net Income for the third quarter of 2015 was $66.0 million, or $0.20 per diluted share. This compares to third quarter 2014 Adjusted Net Income of $57.5 million or $0.17 per diluted share.
We delivered another solid quarter of performance, producing and selling more tons than a year ago and improving our Adjusted EBITDA margin by 20 basis points to 18.4%, said Chairman and CEO David Scheible. The improvements were driven by our ongoing asset optimization strategies, acquisition integration and strong operating performance. We have generated nearly $60 million in productivity benefits through the first three quarters of the year, which puts us on track to deliver full-year performance benefits at the upper end of our range of $60-$80 million.
Graphic Packaging Holding Company, together with its auxiliaries, provides paper-based packaging solutions to food, beverage, and other consumer products companies. The company produces a range of paperboard grades convertible into folding cartons primarily to protect products, such as food, detergents, paper products, beverages, and health and beauty aids.
Shares of BorgWarner Inc. (NYSE:BWA), inclined 2.18% to $44.61, during its last trading session.
BorgWarner Transmission Systems Korea, a BorgWarner majority-held joint venture, opened a new facility in Jincheon, South Korea. The new building is the companys third manufacturing plant in South Korea for transmission technologies, joining existing facilities in nearby Eumsung. Built to meet growing demand for its transmission technologies, the new facility will produce a variety of automatic transmission components, counting clutch modules, clutch sets and friction plates. The new environmentally friendly 182,600-square-foot (17,000-square-meter) facility will also provide space for engineering, sales and administrative functions. The site comprises ample area for future expansion.
Local manufacturing provides customers, such as Hyundai and Kia, with high-quality transmission components, fast delivery and local engineering support, said Robin Kendrick, President and General Manager, BorgWarner Transmission Systems. We are excited to expand production in South Korea, supplying advanced transmission technologies to assist improve performance and fuel economy for drivers around the world.
Established in 1988, BorgWarners facility in Eumsung, South Korea, has been supplying Hyundai and Kia with localized production of automatic transmission components since 1990. BorgWarner has built a strong reputation for quality and safety, earning 15 Five Star Quality awards since this award began in 2003, in addition to three Supplier of the Year awards from the Hyundai-Kia Automotive Group for exceptional quality and performance.
BorgWarner Inc. manufactures and sells engineered automotive systems and components primarily for powertrain applications worldwide. The company’s Engine segment offers turbochargers, timing devices and chain products, emissions systems, thermal systems, and diesel coldstart and gasoline ignition technology.
Finally, Shares of PepsiCo, Inc. (NYSE:PEP), ended its last trade with 0.14% gain, and closed at $102.57.
Frito-Lay and other PepsiCo employees from offices throughout the Dallas/Fort-Worth Metroplex, will take part in the sixth annual PepsiCo United Way Day of Caring. In what stands as the largest corporate United Way Day of Caring event in North Texas, an estimated 1,250 Frito-Lay and PepsiCo volunteers will contribute about 5,000 hours of their time to 20 United Way service providers to assist North Texans in need.
Volunteers will blanket the area, working to paint and repair facilities, sort donations, and host fall festivals for children. All projects align with United Ways key focus areas of Education, Financial Stability, and Health. Over the past six years, Frito-Lay and other PepsiCo associates have contributed an estimated 29,000 volunteer hours to area non-profits through PepsiCo Day of Caring events .
The PepsiCo United Way Day of Caring is a great opportunity for our associates to get out and volunteer in the community, said Chris Kuechenmeister, vice president communications, PepsiCo. The wide range of projects and volunteer opportunities allow our associates to truly make an impact and experience firsthand life-changing connections with the clients who benefit from United Way programs.
PepsiCo, Inc. operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay’s potato chips, Doritos tortilla chips, Cheetos cheese-flavored snacks, Tostitos tortilla chips, branded dips, Ruffles potato chips, Fritos corn chips, and Santitas tortilla chips.
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