Divestco Reports 2016 Q3 Results

CALGARY, AB—(Marketwired – November 28, 2016) – Divestco Inc. (“Divestco” or the “Company”) (TSX VENTURE: DVT), an exploration services company dedicated to providing a comprehensive and integrated portfolio of data, software and services to the oil and gas industry worldwide, today announced its financial and operating results for the three and nine months ended September 30, 2016.

Financial Highlights

Overall Performance and Operational Results

 
Financial Results (Thousands, Except Per Share Amounts)
    Three months ended September 30   Nine months ended September 30
    2016   2015   $ Change   % Change   2016   2015   $ Change   % Change
Revenue   $ 2,015     $ 3,110     $ (1,095 )   –35 %   $ 8,287     $ 15,451     $ (7,164 )   –46 %
Operating Expenses (1)     2,448       3,098       (650 )   –21 %     7,640       12,498       (4,858 )   –39 %
Other Loss (Income)     (9 )     88       (97 )   N/A       62       (5,496 )     5,558     N/A  
EBITDA (2)     (424 )     (76 )     (348 )   N/A       585       8,449       (7,864 )   –93 %
Finance Costs     359       181       178     98 %     1,069       847       222     26 %
Depreciation and Amortization     1,643       1,580       63     4 %     4,750       9,965       (5,215 )   –52 %
Net Loss   $ (2,426 )   $ (1,837 )   $ (589 )   N/A     $ (5,234 )   $ (2,363 )   $ (2,871 )   N/A  
  Per Share – Basic and Diluted     (0.04 )     (0.03 )     (0.01 )   N/A       (0.08 )     (0.04 )     (0.04 )   N/A  
Funds from (used in) Operations (2)   $ (453 )   $ 42     $ (495 )   N/A     $ 567     $ 3,030     $ (2,463 )   –81 %
  Per Share – Basic and Diluted     (0.01 )           (0.01 )   N/A       0.01       0.05       (0.04 )   –80 %
Class A Shares Outstanding     67,252       67,108       N/A     N/A       67,252       67,108       N/A     N/A  
Weighted Average Shares Outstanding                                                            
  Basic and Diluted     67,254       67,108       N/A     N/A       67,240       67,108       N/A     N/A  
(1) Includes salaries & benefits, general & administrative expenses and share–based payments but excludes depreciation and amortization and other losses (income)  
(2) See the “Non GAAP Measures” section of the Company's Management Discussion and Analysis filed on the Company's website and on SEDAR  
   

Q3 2016 vs. Q3 2015

Divestco generated revenue of $2.0 million in Q3 2016 compared to $3.1 million in Q3 2015, a decrease of $1.1 million (35%). While the Company's Seismic Data segment had stronger revenues, the Services and the Software & Data segments revenues were weaker due to low commodity prices. Revenue in the Seismic Data segment ($0.7 million) increased by $0.3 million (50%) primarily due to higher data library sales. Revenue in the Software & Data segment ($1.2 million) decreased by $0.3 million (22%) and revenue in the Services segment ($0.4 million) decreased by $1.1 million (70%) as result of reduced capital spending by clients due to low commodity prices.

Operating expenses decreased by $0.7 million (21%) to $2.4 million in Q3 2016 from $3.1 million in Q3 2015. Salaries declined by $0.6 million (34%) due to reduced staffing levels and the austerity measures put in place in response to current economic conditions. G&A expenses declined by $28,000 (2%) due to a decrease in discretionary expenses, stock–based compensation, as well as software licences and contractor fees offset by an increase in bad debts.

Finance costs increased by $178,000 (98%) to $359,000 in Q3 2016 from $181,000 in Q3 2015 mainly related to repayment of a $4.5 million bridge loan in Q1 2015. The Company then a secured a new bridge loan at the end of Q3 2015. Therefore, debt levels were lower in Q3 2015 compared to Q3 2016.
Depreciation and amortization was $1.6 million in Q3 2016 and Q3 2015 as no new seismic data was acquired in any of these quarters. (Divestco's accounting policy is to amortize 40% of participation survey costs immediately upon delivery of new seismic data to participants and the balance over nine years straight–line commencing one year from the delivery date).

Nine Months Ended September 30 2016 vs. Nine Months Ended September 30 2015

Divestco generated revenue of $8.3 million during the first nine months of 2016 compared to $15.5 million in the same period in 2015, a decrease of $7.2 million (46%). This was primarily a result of lower seismic participation revenue and Services segment revenue partially offset by higher seismic data library and log data revenue. Revenue in the Software & Data segment ($3.3 million) decreased by $1.0 million (24%) mainly due to the sale of the land software assets in Q1 2015 partially offset by higher log data revenue. Revenue in the Seismic Data segment ($3.0 million) decreased by $2.5 million (45%) due to three seismic participation surveys that were completed in the first nine months of 2015; there were no surveys completed in the first nine months of 2016. Seismic brokerage revenue was also lower due to lower activity levels. These decreases were partially offset by an increase in seismic data library revenue of $2.3 million. Revenue in the Services segment ($2.0 million) decreased by $3.6 million (65%) as result of reduced capital spending by clients due to low commodity prices.

Operating expenses decreased by $4.9 million (39%) to $7.6 million in the first nine months of 2016 from $12.5 million in the same period in 2015. Salaries declined by $3.1 million (42%) due to reduced staffing levels and the austerity measures put in place in response to current economic conditions. G&A expenses declined by $1.8 million (34%) due to a decrease in discretionary expenses as well as software licences and contractor fees.

Finance costs increased by $0.3 million (26%) to $1.1 million in the first nine months of 2016 from $0.8 million in the same period in 2015 mainly related to repayment of a $4.5 million bridge loan in March 2015. The Company then a secured a new bridge loan in September 2015. Therefore, debt levels were higher during the first nine months of 2016 compared to same period in 2015.

Depreciation and amortization decreased by $5.2 million (52%) to $4.8 million in the first nine months of 2016 from $10.0 million in same period in 2015 mainly due to the addition of new seismic data in first nine months of 2015; no new data was acquired in first nine months of 2016.

Financial Position

As at September 30, 2016, Divestco had a working capital deficiency of $6.1 million (December 31, 2015: $2.1 million deficiency), excluding deferred revenue of $1.5 million (December 31, 2015: $1.3 million). The increase in the working capital deficit from the end of 2015 was primarily due to the reclassification of the Company's bridge loan and a portion of its shareholder loans from long–term to current at September 30, 2016. The bridge loan is repayable on March 31, 2017 and shareholder loan repayments commence on April 1, 2017. Management is in discussions with potential lenders to repay its bridge loan and continues to search for additional sources of capital to fund the Company's growth opportunities.

(1) See the “Non GAAP Measures” section of the Company's Management Discussion and Analysis filed on the Company's website and on SEDAR

Operations Update and Outlook

There has been an improvement in West Texas Intermediate oil prices from a low of US$27/barrel in February 2016 to US$45/barrel in November 2016 and rig utilization has improved from 12.5% in July 2016 to 22% in November 2016. However, commodity prices and rig utilization remain significantly lower than 2014 levels which has forced most North American oil and gas producers to keep their capital spending to a historically low levels and access to capital remains challenging for the industry. Due to significantly lower activity levels, Divestco continues to reduce its operating expenses. Due to the austerity measures implemented by the Company starting in Q1 2015, salaries have decreased by 42% (first nine months of 2016 compared to first nine months of 2015) and all other discretionary expenses have been lowered as well. These measures are expected to remain in place for the remainder of 2016 or until a material change in activity levels is realized.

Mr. Stephen Popadynetz, CEO and President commented: “The cost controls we continued to utilize in 2016 combined with higher data license revenue contributed to Divestco achieving positive funds from operations of $0.6 million for the nine months ended September 30, 2016. Operating expenses were nearly 40% lower compared to the same period in 2015. We also had several deals pending at the end of Q3 2016 which are expected to close in Q4 2016. In addition, after 18 months of absence, we returned to acquiring new seismic in Q4 2016. If oil prices continue to improve, we could have several other program opportunities (currently under our review) that should become economic for our customers and could lead to additional growth. We are beginning to see some signs that the recession is in its final stages and we continue to receive bids for a significant number of international opportunities. All of this coupled with improving domestic markets, is expected to lead to better and more profitable quarters in our near future.”

About the Company

Divestco is an exploration services company that provides a comprehensive and integrated portfolio of data, software, and services to the oil and gas industry. Through continued commitment to align and bundle products and services to generate value for customers, Divestco is creating an unparalleled set of integrated solutions and unique benefits for the marketplace. Divestco's breadth of data, software and services offers customers the ability to access and analyze the information required to make business decisions and to optimize their success in the upstream oil and gas industry. Divestco is headquartered in Calgary, Alberta, Canada and trades on the TSX Venture Exchange under the symbol “DVT”.

Additional information on the Company is available on its website at Divestco.com and on SEDAR at sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This press release contains forward–looking information related to the Company's capital expenditures, projected growth, view and outlook with respect to future oil and gas prices and market conditions, and demand for its products and services. Statements that contain words such as “could', “should”, “can”, “anticipate”, “expect”, “believe”, “will”, “may” and similar expressions and statements relating to matters that are not historical facts constitute “forward–looking information” within the meaning applicable by Canadian securities legislation. Although management of the Company believes that the expectations reflected in such forward–looking information are reasonable, there can be no assurance that such expectations will prove to have been correct because, should one or more of the risks materialize, or should the assumptions underlying forward–looking statements or forward–looking information prove incorrect, actual results may vary materially from those described in this press release as intended, planned, anticipated, believed, estimated or expected. Readers should not place undue reliance on forward–looking statements or forward–looking information. All of the forward–looking statements and forward–looking information of the Company contained in this press release are expressly qualified, in their entirety, by this cautionary statement. Except where required by law, the Company does not assume any obligation to update these forward–looking statements or forward–looking information if conditions or opinions should change.

In particular, this press release contains forward–looking statements pertaining to the following: Company's ability to keep debt and liquidity at acceptable levels, improve/maintain its working capital position and maintain profitability in the current economy; availability of external and internal funding for future operations; relative future competitive position of the Company; nature and timing of growth; oil and natural gas production levels; planned capital expenditure programs; supply and demand for oil and natural gas; future demand for products/services; commodity prices; impact of Canadian federal and provincial governmental regulation on the Company; expected levels of operating costs, finance costs and other costs and expenses; future ability to execute acquisitions and dispositions of assets or businesses; expectations regarding the Company's ability to raise capital and to add to seismic data through new seismic shoots and acquisition of existing seismic data; treatment under tax laws; and new accounting pronouncements.

These forward–looking statements are based upon assumptions including: future prices for crude oil and natural gas; future interest rates and future availability of debt and equity financing will be at levels and costs that allow the Company to manage, operate and finance its business and develop its software products and various oil and gas datasets including its seismic data library, and meet its future obligations; the regulatory framework in respect of royalties, taxes and environmental matters applicable to the Company and its customers will not become so onerous on both the Company and its customers as to preclude the Company and its customers from viably managing, operating and financing its business and the development of its software and data; and that the Company will continue to be able to identify, attract and employ qualified staff and obtain the outside expertise as well as specialized and other equipment it requires to manage, operate and finance its business and develop its properties.

These forward–looking statements are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including: general economic, market and business conditions; volatility in market prices for crude oil and natural gas; ability of Divestco's clients to explore for, develop and produce oil and gas; availability of financing and capital; fluctuations in interest rates; demand for the Company's product and services; weather and climate conditions; competitive actions by other companies; availability of skilled labour; failure to obtain regulatory approvals in a timely manner; adverse conditions in the debt and equity markets; and government actions including changes in environment and other regulation.

Plastics on Ice: How Plastics Advanced Ice Hockey

TORONTO, ON—(Marketwired – November 28, 2016) – There is evidence of an ancient hockey–like game played across Europe and the First Nations of Eastern Canada. The first recorded hockey games, however, were played by British soldiers stationed in Kingston and Halifax during the mid–1850s. Students at Montreal's McGill University drew up the first known set of ice hockey rules in the 1870s. The modern version of ice hockey has been part of the Winter Olympics since Chamonix in 1924, with women's hockey added in 1998.

Following are some of the ways that plastics have helped revolutionize the sport of ice hockey:

• Sticks: Traditional hockey sticks were wooden, but today, many are made of fiberglass, carbon fiber, aluminum and various composite materials. Plastics have found their way into hockey sticks through nanotechnologies like polymer Baytubes® carbon nanotubes, which create more durable sticks and improve puck handling and speed.

• Pucks: When ice hockey originally came to North America from Europe, a ball, rather than a puck, was used. Early players found that the wooden ball was too bouncy on ice, so they cut the top and bottom off, to form the hockey puck. A hockey puck is manufactured by vulcanizing synthetic and natural rubber — both of which are plastics.

• Skates: Early hockey skates were made of leather with metal blades, but today they use a wide variety of synthetic materials for improved performance and speed. Hockey skates feature thick plastic padding to protect the feet and sturdy ankle support for increased stability, speed and agility. One very visible difference from other hockey skates is a protective plastic cowling made of high–end polyvinyl chloride (PVC) that wraps around the entire lower half of the boot.

• Safety: Most hockey rinks are enclosed by Plexiglas® barriers which are more “impact friendly” to checked players than glass. However, a hockey player's primary safety measure is the gear he or she wears. Compared to most other sports, hockey gear is heavy–duty and must offer a high level of protection against many immediate hazards. Hockey helmets are engineered with a crack–resistant outer shell of injection–moulded plastic and interior plastic foam pads. The outer plastic is vinyl nitrile, which is designed to absorb impact and disperse force so as to help prevent concussions. The helmet is often accompanied by a mask or visor, which is mandatory in some leagues. A visor is made of transparent, impact–resistant plastic, while a mask can use plastic or metal wire–or a combination of both. Other protective gear includes a mouth guard, a neck guard, gloves, elbow pads, shoulder pads, an athletic protector, padded shorts and shin guards — all made from plastic!

Today's intelligent plastics are vital to the modern world. These materials enhance our lifestyles, our economy and the environment. For more information visit www.intelligentplastics.ca

Image Available: http://www.marketwire.com/library/MwGo/2016/11/28/11G123400/Images/hockey–9d5bc53b63b1a25f949a8307d448f9e9.jpg

Hudbay Announces Offering of US$1.0 Billion Aggregate Principal Amount of Senior Notes and Tender Offer and Consent Solicitation in respect of Outstanding 9.500% Senior Notes due 2020

TORONTO, ON—(Marketwired – November 28, 2016) – HudBay Minerals Inc. (“Hudbay” or the “company”) (TSX: HBM) (NYSE: HBM) today announced that it is offering US$1.0 billion aggregate principal amount of senior notes in two series, including a series of senior notes due 2023 (the “2023 Notes”) and a series of senior notes due 2025 (the “2025 Notes” and, together with the 2023 Notes, the “New Notes”). The aggregate principal amount, interest rate and other terms of each series of the New Notes will be determined at pricing and are dependent upon market conditions and other factors.

Hudbay also announced today that it is commencing an offer to purchase for cash (the “Tender Offer”) any and all of its outstanding US$920 million aggregate principal amount of 9.500% senior notes due 2020 (the “Existing Notes”) on the terms and subject to the conditions set forth in an offer to purchase and consent solicitation statement dated November 28, 2016 (the “Offer to Purchase”). Hudbay concurrently announced that it is soliciting consents (the “Consent Solicitation”) from holders of the Existing Notes to amend the indenture governing the Existing Notes to reduce the minimum notice period required for redemptions of the Existing Notes from 30 to 3 days on the terms and subject to the conditions set forth in the Offer to Purchase. The Tender Offer is scheduled to expire at 12:00 midnight (end of day), New York City time, on December 23, 2016 unless extended or earlier terminated (such date and time, as it may be extended or earlier terminated, the “Expiration Date”). The Consent Solicitation is scheduled to expire at the Early Tender Time (as defined below) unless extended or earlier terminated.

Subject to the terms and conditions of the Tender Offer, holders who validly tender and do not withdraw their Existing Notes on or prior to 5:00 p.m., New York City time, on December 9, 2016, unless extended or earlier terminated by Hudbay (such time and date, as the same may be extended or earlier terminated, the “Early Tender Time”) will be eligible to receive total consideration of US$1,052.50 per US$1,000 principal amount of Existing Notes tendered and accepted for payment by Hudbay, which includes an early tender premium of US$30.00 for each US$1,000 principal amount of Existing Notes tendered. Holders who validly tender their Existing Notes after the Early Tender Time and at or prior to the Expiration Date will only be eligible to receive US$1,022.50 per US$1,000 principal amount of Existing Notes tendered. Holders who validly tender their Existing Notes pursuant to the Tender Offer prior to the Early Tender Time will be deemed to have validly delivered consents related to such Existing Notes (the “Consents”) in the Consent Solicitation. Hudbay's obligation to complete the Tender Offer is subject to and conditional upon completion of the offering of the New Notes as well as customary conditions. Hudbay's obligation to complete the Consent Solicitation is conditional upon the receipt prior to the Early Tender Time of Consents from holders of a majority in aggregate principal amount of the Existing Notes then outstanding voting as a single class and the execution of a supplemental indenture reflecting the proposed amendment to the indenture governing the Existing Notes.

Hudbay plans to use the net proceeds from the offering of the New Notes (i) to fund the Tender Offer and to pay expenses associated with the Tender Offer and Consent Solicitation and the offering of the New Notes, (ii) to fund the redemption or satisfaction and discharge of any Existing Notes that remain outstanding following consummation of the Tender Offer and (iii) for general corporate purposes.

Hudbay also announced today that, in connection with the offering, one of its lenders has agreed to increase its commitment under Hudbay's senior secured revolving credit facilities by US$20 million, conditional upon completion of the offering of the New Notes. The additional US$20 million commitment would increase the total commitments under Hudbay's senior secured revolving credit facilities to US$550 million and further improve the company's liquidity.

The New Notes will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any other jurisdiction. The New Notes will not be qualified by a prospectus in Canada. Unless they are registered or qualified by a prospectus, the New Notes may be offered only in transactions that are exempt from registration under the Securities Act, prospectus qualification under Canadian securities laws or the securities laws of any other jurisdiction. In the United States, the New Notes will be offered, and sold, only to “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) and outside the United States to non–U.S. persons in compliance with Regulation S under the Securities Act.

This press release is neither an offer to sell nor the solicitation of an offer to buy the New Notes, the Existing Notes or any other securities and shall not constitute an offer to sell or solicitation of an offer to buy, or a sale of, the New Notes, the Existing Notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful. This press release does not constitute a notice of redemption with respect to the Existing Notes.

Forward–Looking Information

This press release contains “forward–looking statements” and “forward–looking information” (collectively, “forward–looking information”) within the meaning of applicable Canadian and United States securities legislation. Forward–looking information includes information that relates to, among other things, Hudbay's objectives, strategies, and intentions, including its intention to complete the proposed notes offering and the proposed tender offer and consent solicitation, its expectations as to the new commitment under the company's credit facilities and its expectations as to the use of proceeds from the proposed notes offering. Forward–looking information is not, and cannot be, a guarantee of future results or events. Forward–looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by the company at the date the forward–looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward–looking information.

The risks, uncertainties, contingencies and other factors that may cause actual results to differ materially from those expressed or implied by the forward–looking information may include, but are not limited to, risks generally associated with the mining industry, such as economic factors (including future commodity prices, currency fluctuations, energy prices and general cost escalation), uncertainties related to the development and operation of Hudbay's projects (including risks associated with community protests and trespassers at Hudbay's Constancia mine in Peru and risks associated with the economics and permitting of the Rosemont project and related legal challenges), risks related to maturing nature of the 777 mine and its impact on the related Flin Flon metallurgical complex, risks related to political or social unrest or change, risks in respect of aboriginal and community relations, rights and title claims, operational risks and hazards, including unanticipated environmental, industrial and geological events and developments and the inability to insure against all risks, dependence on key personnel and employee and union relations, failure of plant, equipment, processes, transportation and other infrastructure to operate as anticipated, planned infrastructure improvements in Peru not being completed on schedule or as planned, compliance with government and environmental regulations, including permitting requirements and anti–bribery legislation, depletion of Hudbay's reserves, volatile financial markets that may affect Hudbay's ability to obtain additional financing on acceptable terms, the permitting and development of the Rosemont project not occurring as planned, the failure to obtain required approvals or clearances from government authorities on a timely basis, uncertainties related to the geology, continuity, grade and estimates of mineral reserves and resources, and the potential for variations in grade and recovery rates, uncertain costs of reclamation activities, the company's ability to comply with its pension and other post–retirement obligations, Hudbay's ability to abide by the covenants in its debt instruments and other material contracts, tax refunds, hedging transactions, as well as the risks discussed under the heading “Risk Factors” in the company's most recent Annual Information Form.

Should one or more risk, uncertainty, contingency or other factor materialize or should any factor or assumption prove incorrect, actual results could vary materially from those expressed or implied in the forward–looking information. Accordingly, you should not place undue reliance on forward–looking information. Hudbay does not assume any obligation to update or revise any forward–looking information after the date of this press release or to explain any material difference between subsequent actual events and any forward–looking information, except as required by applicable law.

About Hudbay

Hudbay (TSX: HBM) (NYSE: HBM) is an integrated mining company producing copper concentrate (containing copper, gold and silver) and zinc metal. With assets in North and South America, the company is focused on the discovery, production and marketing of base and precious metals. Through its subsidiaries, Hudbay owns four polymetallic mines, four ore concentrators and a zinc production facility in northern Manitoba and Saskatchewan (Canada) and Cusco (Peru), and a copper project in Arizona (United States). The company is governed by the Canada Business Corporations Act and its shares are listed under the symbol “HBM” on the Toronto Stock Exchange, New York Stock Exchange and Bolsa de Valores de Lima. Hudbay also has warrants listed under the symbol “HBM.WT” on the Toronto Stock Exchange and “HBM/WS” on the New York Stock Exchange.

Have You Seen Those Cool New Squeezy Pouches at the Supermarket?

TORONTO, ON—(Marketwired – November 28, 2016) – Ever notice that more and more products on supermarket shelves are sold in all sorts of new flexible pouches? Tuna fish, nuts, dried fruit, trail mix, baby formula, candy, pet foods, and even wine are being packaged in super–light, soft plastic pouches.

In the refrigerator and freezer sections you see still more foods in similar flexible, often re–sealable pouches for fish, chicken strips, dinner entrees, and more.

So, why the switch? And should we care?

The new plastic flex pouch is one of the latest innovations in modern food packaging made possible by advancements in plastics. This new flexible plastic packaging is actually a sophisticated fusion of various lightweight plastics and (sometimes) other materials.

And, yes, we should care because it does something really cool: It delivers our food safely, conveniently — and with an eye on sustainability.

“Shoppers are always on the lookout for products that are easy to carry, easy to store, and easy to use. And most importantly, products that waste less; waste less money, waste less food with extended shelf life, and create less packaging waste. Flexible plastic packaging does all of these things — very well.” comments Carol Hochu, President and CEO, Canadian Plastics Industry Association.

To make this handy, high–tech pouch, food–packaging experts fuse together various super–thin layers of plastic films, depending on the food and desires of the consumer. For example, there may be a polyethylene layer to provide structure, a polyester layer to make it tougher and printable, even a plastic/metal layer to keep out air — and maybe more. It's hard to believe there are so many things happening in something so incredibly light. But that's the key: each element performs an important function with as little material as possible.

The layers work together to protect our food and to keep it fresher longer extending shelf life and reducing food waste. Drop it and it doesn't break. Seal it and it keeps in aromas. Freeze it and it doesn't crack. Lift it and it's lightweight. Bend it, twist it, toss it in the bag — and use it when we need it.

On top of all this, flexible plastic packaging contributes to sustainability.

  • For example; it takes about 338 grams of glass to deliver a pound of peanuts. Flexible plastic packaging? Just 34 grams.
  • It's made with less material so it conserves resources.
  • It requires less energy to create.
  • It moves food more efficiently from the farm or factory to the family table.
  • In comparison to rigid packaging, such as the folding paper carton, glass, or metal tins, flexible packaging is capable of reducing your carbon footprint significantly. 1 truckload of flexible packaging is equal to 26 truckloads of glass packaging. That's 25 truckloads of transportation cost–savings and reduced carbon emissions.
  • It doesn't stop with carbon emissions either. Just .68 kilograms of flexible packaging is equivalent to 23 kilograms of glass packaging, 3 kilograms of rigid PET plastic packaging or 1.5 kilograms of aluminum packaging.

Exciting advancements in flexible plastic pouches are being made right here in Canada by companies like Haremar, Hood Packaging, PolyCello, Layfield and Chantler Packaging.

Check out this fun video to see how The Dow Chemical Company is telling this story about flexible plastic packaging.

So plastic pouches are flexible, lightweight, durable, convenient, save money and consume fewer resources and produce less waste. Sounds like quite a package!

Today's intelligent plastics are vital to the modern world. These materials enhance our lifestyles, our economy and the environment. For more information visit www.intelligentplastics.ca

Image Available: http://www.marketwire.com/library/MwGo/2016/11/24/11G123211/Images/haremar_standuppouch_image_(002)–189ee77fed1e9e68b1ac49ac03c87e6e.jpg

Have You Seen Those Cool New Squeezy Pouches at the Supermarket?

TORONTO, ON—(Marketwired – November 28, 2016) – Ever notice that more and more products on supermarket shelves are sold in all sorts of new flexible pouches? Tuna fish, nuts, dried fruit, trail mix, baby formula, candy, pet foods, and even wine are being packaged in super–light, soft plastic pouches.

In the refrigerator and freezer sections you see still more foods in similar flexible, often re–sealable pouches for fish, chicken strips, dinner entrees, and more.

So, why the switch? And should we care?

The new plastic flex pouch is one of the latest innovations in modern food packaging made possible by advancements in plastics. This new flexible plastic packaging is actually a sophisticated fusion of various lightweight plastics and (sometimes) other materials.

And, yes, we should care because it does something really cool: It delivers our food safely, conveniently — and with an eye on sustainability.

“Shoppers are always on the lookout for products that are easy to carry, easy to store, and easy to use. And most importantly, products that waste less; waste less money, waste less food with extended shelf life, and create less packaging waste. Flexible plastic packaging does all of these things — very well.” comments Carol Hochu, President and CEO, Canadian Plastics Industry Association.

To make this handy, high–tech pouch, food–packaging experts fuse together various super–thin layers of plastic films, depending on the food and desires of the consumer. For example, there may be a polyethylene layer to provide structure, a polyester layer to make it tougher and printable, even a plastic/metal layer to keep out air — and maybe more. It's hard to believe there are so many things happening in something so incredibly light. But that's the key: each element performs an important function with as little material as possible.

The layers work together to protect our food and to keep it fresher longer extending shelf life and reducing food waste. Drop it and it doesn't break. Seal it and it keeps in aromas. Freeze it and it doesn't crack. Lift it and it's lightweight. Bend it, twist it, toss it in the bag — and use it when we need it.

On top of all this, flexible plastic packaging contributes to sustainability.

  • For example; it takes about 338 grams of glass to deliver a pound of peanuts. Flexible plastic packaging? Just 34 grams.
  • It's made with less material so it conserves resources.
  • It requires less energy to create.
  • It moves food more efficiently from the farm or factory to the family table.
  • In comparison to rigid packaging, such as the folding paper carton, glass, or metal tins, flexible packaging is capable of reducing your carbon footprint significantly. 1 truckload of flexible packaging is equal to 26 truckloads of glass packaging. That's 25 truckloads of transportation cost–savings and reduced carbon emissions.
  • It doesn't stop with carbon emissions either. Just .68 kilograms of flexible packaging is equivalent to 23 kilograms of glass packaging, 3 kilograms of rigid PET plastic packaging or 1.5 kilograms of aluminum packaging.

Exciting advancements in flexible plastic pouches are being made right here in Canada by companies like Haremar, Hood Packaging, PolyCello, Layfield and Chantler Packaging.

Check out this fun video to see how The Dow Chemical Company is telling this story about flexible plastic packaging.

So plastic pouches are flexible, lightweight, durable, convenient, save money and consume fewer resources and produce less waste. Sounds like quite a package!

Today's intelligent plastics are vital to the modern world. These materials enhance our lifestyles, our economy and the environment. For more information visit www.intelligentplastics.ca

Image Available: http://www.marketwire.com/library/MwGo/2016/11/24/11G123211/Images/haremar_standuppouch_image_(002)–189ee77fed1e9e68b1ac49ac03c87e6e.jpg

Asia Society Northern California Presents West Coast Diversity Leadership Forum, Dec. 6

SAN FRANCISCO, CA—(Marketwired – November 28, 2016) – Asia Society Northern California will present the inaugural West Coast Diversity Leadership Forum on Tuesday, December 6. The event will be held at Zendesk in San Francisco, from 9:00 a.m. to 4:45 p.m. PT, to be followed by a reception.

The day–long conference will explore how employers can create a favorable working experience and executive pipelines for Asian Pacific Americans (APAs) through the lens of California's unique demographic, cultural, and business strengths and challenges. The forum is the West Coast edition of the Diversity Leadership Forum, held annually in New York since 2009.

Featured speakers include:

  • Annabel Chang, Director of Public Policy, Lyft
  • Eugene Kelly, Vice President, Global Diversity & Inclusion, Colgate–Palmolive Company
  • Shie Lundberg, Director, Consumer Care, Google
  • Steven Ma, California Commission on Asian and Pacific Islander American Affairs
  • Anna Mok, Partner, Deloitte
  • Vipul Sheth, Vice President, Corporate Quality, Medtronic
  • Frank Wu, Chair, Committee of 100
  • Shariq Yosufzai, Vice President for Global Diversity, Chevron

Panel discussions include:

  • Advancing Asian Pacific American Diverse Talent
  • Making BRGs and ERGs Work
  • Asian Leaders Driving Business & Politics
  • Developing the Next Generation of Asian Leaders

The West Coast Diversity Leadership Forum is sponsored by Wells Fargo, Chevron, and Zendesk. The forum is presented in partnership with Ascend, and supported by the Committee of 100 and LEAP.

About Asia Society

Asia Society is the leading educational organization dedicated to promoting mutual understanding and strengthening partnerships among peoples, leaders, and institutions of Asia and the United States in a global context. Across the fields of arts, business, culture, education, and policy, the Society provides insight, generates ideas, and promotes collaboration to address present challenges and create a shared future. Founded in 1956 by John D. Rockefeller 3rd, Asia Society is a nonpartisan, nonprofit institution with major cultural centers in New York, Hong Kong, and Houston, and offices in Los Angeles, Manila, Mumbai, San Francisco, Seoul, Shanghai, Sydney, Washington, DC, and Zurich.

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