Converter Outlook, Part 2 (CONT’D FROM PAGE 26)
Quality & Consistency
tomer sales for 2023. We would like to be proven wrong, but it seems unlikely that the industrial market will experi- ence growth, given the headwinds that it’s facing.” ROYAL CONTAINERS Toronto, Ontario, Canada: Kim Nelson reports, “Royal Con- tainers recently gathered to ring in the holiday season. About 250 employees attended the afternoon event. It
was momentous to have everyone from Royal’s two facilities together in the same space after two years being distanced by the pandemic. I was thrilled to again engage with our entire staff at once. “As a back drop, I used a visual explosion of the past year, in photo-
Kim Nelson
graphs and videos. The purpose was to communicate in a town hall manner the results from our previous year and to share our plans for the upcoming year. “We have followed a strategic planning process for years now, so it is by design that we have successfully ac- complished our goals year after year. With communication being a cornerstone of our culture, any opportunity to re- port past achievements and future goals is important. “When I consider the forecast for 2023, I immediately take a step back and look at the big picture. The long-term future of the industry, based on FBA statistics and other economic drivers, such as e-commerce trends and Cana- dian bans on certain plastics, we see continued growth and expansion. “These indicators give every cause for optimism. How- ever, when looking at the upcoming year, we do see a slow-down. We anticipate a decline in our sales by 10 per- cent and a larger decline in our volume. “Applying a broader approach means that our focus moves towards cost control and operational effectiveness. Adhering to budgets this year will be important. Remaining nimble and agile will be important. “Strong customer partnerships are critical in years when the cycle is on a downward trend. Our mission statement at Royal, 'Building Partnerships in Packaging,' becomes particularly relevant in challenging conditions. Leadership is needed to articulate the vision and continue to develop our most important asset, our people. “The year 2022 was a record-breaking one. It felt like we were driving down the Autobahn at top speed, only this year we've exited off the highway and are still driving, but at a reduced speed. We won't take our foot off the gas, we will continue to invest in our future, in the next genera- tion, through investment in technology and expansion. “We have been in the industry long enough to know that there are cycles. Since 2019, we have stayed our course on some challenging roads; we have survived, thrived, and will continue to do so.”
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January 16, 2023
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