How about them (wrapped) apples? Intertape Polymer Group (IPG) makes and markets an array of paper and film pressure sensitive tapes, specialized polyolefin films, and packaging systems for wrapping apples as well as many other goods. IPG's short list comprises Intertape-branded carton sealing tape, industrial duct and electrical tape, Stretchflex-branded – more...wrap, and complementary equipment used in industrial, aerospace, and automotive applications. The company also makes intermediate bulk containers and coated fabrics tailored to the agricultural, construction, and flexible packaging industries. Customers include distributors, consumer outlets, and large end-users. The US represents about 80% of IPG's sales. Despite the breadth of its packaging portfolio, IPG has suffered declining revenues since its historic high in 2006. During 2010 year-over-year sales rallied more than 15% over 2009, following a comparable plunge in 2009 from the previous year. Demand for its products is largely tied to building and construction activity, sectors hurt by the recession, and customers' destocking efforts. IPG has also taken a hit from raw material costs that have soared, 15% to 30% in the last few years. (Marketplace pressures have limited the company's ability to offset resin costs through price increases.) In response, IPG has consolidated production and cut its workforce and capital expenditures. In 2011 it permanently shuttered a manufacturing facility in Ontario, Canada, due to unsustainable costs associated with a union strike, and discontinued certain unprofitable products. Work was transferred to a Nova Scotia plant. Along with the facility closure, certain assets were impaired and an allowance for tax assets increased. The company's losses deepened in 2010, marking its fifth consecutive year to operate in the red. Cash from operations dwindled, too. IPG, simultaneously, is focusing on introducing higher-margin products that refill its coffers and broaden its market penetration. Its new offerings include a painter's tape that prevents bleed-through problems, an expanded lineup of marine products, a synthetic roof underlay (for construction markets), and a tensile strength filament tape for industrial bundling and strapping. IPG serves a holding company for operations in the US and Canada. Canadian interests are driven by ECP LP, and US interests by Intertape Polymer Corp. – less
What are people saying about the leadership at Intertape Polymer Group?
of employees approve of CEO’s performance
CEO Approval is based on 46 ratings
Not worth it
Written by Accounting (Former Employee) from Truro, NS on 16 December 2019
The work was ok but the leadership was horrible. High turnover. They don’t try to engage their employees. Like the Leader will fly off the handle and yell at you for doing something wrong in your first couple of weeks. And you were shown it once and it was fixable. Not something permanent on a financial statement. This isn’t a structured place with - more...