Board Converting News, June 6, 2022

Coastal Container (CONT’D FROM PAGE 4)

“Companies have a lot of choices for paper and cor- rugated products at large corporations,” said Patterson. “This expansion positions us as the only locally owned and operated company in the region who can make cor- rugated on-site, build packaging and provide this level of control over our product quality and process.” “We’re thankful for the partnership of MEDC, Lakeshore Advantage, Capital for Compassion, MDOT, Semco, Hol- land BPW and the City of Holland,” continued Patterson, “along with our loyal customers whose support has made all of this possible.”

pany to receive its raw material in the form of rolls instead of corrugated sheets. A single delivery of seven rail cars will replace approximately 48 truck loads of sheets. Coast- al estimates this will eliminate the consumption of over 150,000 gallons of diesel fuel and over 1,000,000 miles of truck traffic from our roads per year. “Our environmental footprint and sustainability are key elements to our busi- ness,” said Patterson. To support these expanded capabilities, Coastal will add dozens of new production and salaried positions. Coastal expects to post entry-level production positions with full benefits packages and pay averaging $21-30/hr as equipment is installed. Partnering with Coastal, West Michigan Works and Grand Rapids Community College will provide on-the-job training and education for new hires in addition to training from the equipment supplier.

ISM: U.S. Economic Growth To Continue Through 2022

The U.S. economy will continue to expand for the rest of 2022, say the nation’s purchasing and supply executives

in the Spring 2022 Semiannual Economic Forecast. Expectations for the remainder for 2022 are similar to those expressed in December 2021, despite continued inflation and geopolitical unrest. These projections are part of the forecast issued by the Insti- tute for Supply Management (ISM) Business Survey Committees. The forecast was pre- sented by Timothy R. Fiore, Chair of the ISM Manufacturing Business Survey Committee, and Anthony S. Nieves, Chair of the ISM Ser- vices Business Survey Committee. Revenue for 2022 is expected to in- crease, on average, by 9.2 percent. This is 2.7 percentage points higher than the De- cember 2021 forecast of 6.5 percent, and 4.9 percentage points lower than the 14.1 percent year-over-year increase reported for 2021. Sixty-three percent of respondents say that revenues for 2022 will increase, on av- erage, 15.5 percent compared to 2021. Only seven percent say revenues will decrease (10 percent, on average), and 30 percent in- dicate no change. With an operating rate of 87.2 percent and projected increases in capital expendi- tures (7.4 percent), prices paid for raw ma- terials (11.1 percent) and employment (3.2 percent) by the end of 2022, manufacturing continues its comeback from the turmoil of 2020 and 2021. “With 16 manufacturing sec- tor industries expecting revenue growth in 2022, and 13 industries expecting employ- ment growth in 2022 panelists forecast that recovery will continue the rest of the year. Sentiment in each sector was generally con- sistent with industry performance reports in the April 2022 Manufacturing ISM Report On Business,” said Fiore.


June 6, 2022

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