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Making Change

Staff -- Converting Magazine, 12/1/2003

Clear-film labelmaker Spear, Mason, OH, and Belgium-based wet-glue label converter IIlochroma Labelling Group form a joint venture company, Illo-Spear, to better serve customers in the beer industry. The Illochroma and Spear partnership brings together the technical resources to develop and deliver clear-labeling decorating systems. Illo-Spear will serve the global beer industry with a complete line of clear-label solutions, including p-s film labels and both Tactiphanee and Illocleare labels for wet-glue applications.

Marietta, GA-based Graphic Packaging Corp. reported a net loss of $52.8 million for the third quarter 2003, after charges associated with the recent merger of Graphic Packaging Intl. Corp. and Riverwood Holding, Inc. Excluding merger-related charges, net income for Q3 2003 was $6.3 million. Net sales of $478.1 million for the 2003 third quarter represents a $152 million or 46.6 percent increase compared to $326.1 million for the 2002 third quarter.

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