JOHANNESBURG, SOUTH AFRICA, Jun. 7, 2010 (Marketwire) --
JOHANNESBURG, SOUTH AFRICA -- (Marketwire) -- 06/07/10 -- www.rothmanresearch.com - The Packaging and container industry is projected to grow, according to industry experts, as consumer spending continues its steady progression with the U.S. economic recovery. An overwhelming number of products distributed to end-users are packaged and with this trend not likely to slow-down, companies in this industry are ramping up for an uptrend in the near- to mid-term. The industry has seen a decline of about 8.7% in the last few months mainly due to the effect of the recession. However, with some of its key consumers, like restaurants, back in business, things are anticipated to change for the better.
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Some of the most successful companies in this space are Pactiv Corp. (NYSE: PTV), Temple-Inland, Bemis, Owens-Illinois and MeadWestvaco Corp. (NYSE: MWV) amongst others. Pactiv released its latest earnings statement in late April 2010, with a 38% fall in profit as compared to the same time period last year. The company's income was at $48 million and excluding one-time items PTV earned 38 cents per share. The shortfall in its revenue was attributed to costs of raw materials which were driven higher by elevated oil prices in the first months of 2010. Pactiv had also lowered its outlook for the rest of the year stating that it will not be able to forward the costs incurred due to the rise in raw material prices until the second half of 2010.
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Even as the industry shows a decline in performance for the first few months of 2010 and the company's recent red lights over unclear acquisition talks, Pactiv is still regarded as the favorite in this space.
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