Tissue: K-C reduces sheet count by high single-digits, after 1Q margin fell to 15.8%
OAKLAND, CA, April 27, 2018 (PPI Pulp & Paper Week) -Kimberly-Clark (K-C), which reported a margin decline in consumer tissue in the first quarter to 15.8% from 19.2%, is reducing sheet counts for a consumer product price increase, company executives told analysts this week.
The company cited higher market pulp costs and expected ongoing higher pulp prices until yearend. K-C estimated full-year 2018 cost inflation of $400 million to $550 million, up $100-150 million from its January estimate.
K-C has offered voluntary severance to most salaried employees and would report later on the cost-reduction program. K-C also is to shut its Fullerton, ...