George Staphos: Hi guys, thanks for taking the follow-on. I’ll ask them in sequence just to clear the backlog and then turn it over to everybody else. So on the Finnish strikes, I know that for now, they’re over, but it’s still not clear whether they are ultimately not going to resume again recognizing they’re much more political in nature this time around versus a couple of years ago. I assume the experience from a couple of years ago, you’ve improved your supply chains and your ability to access paper if you need to, but could you sort of affirm that and give a little bit of color on what you’ve done there just to make sure that if the strikes resume, you’re still in good position. Secondly, it’s like politics, weather is local, but it does seem like there’s been a bit of a weather factor across a lot of the larger regions in North America in terms of being a little bit cooler in weather.
Has that had any effect from your vantage point on parcel shipments and your label consumption that you might see come back later in the year? And then lastly, I assume it’s just because we’ve gotten back to normal, but that helpful slide that you’ve had over the last couple of quarters where you show some of your internal indicators. I didn’t see it in this deck, should we assume that means we’re back to normal, and that’s a good thing. Thanks guys and good luck in the quarter.
Deon Stander: Thanks, George. I’ll take the first and then Greg can deal with the last one. As it relates to the Finnish strike, yes, the current resolution is as it is, it’s resolved, but that doesn’t preclude the fact that moving forward, that may change in time as well, George. I think the thing that we have lent on is two elements. One, we’ve specifically since the last experience we went through when we saw the significant supply chain constraints. We’ve deepened and broadened our supply chain fairly dramatically. Our sources of raw materials are no longer just single regional source, but they are more multiregional and multi-supplier source. And one of the reasons why we have seen no interruption during this period ourselves.
In fact, our service excellence actually improved across the world was because we have this resilience that we put into our supply chain as well. I think the second thing is we’ve also really lent into trying to deeply understand both from a process and a data perspective where end consumption is likely to be and how that relates to the various inventory levels across CPGs, our converters and our retail customers as well. I think that helps give us greater confidence in how we manage our own supply chain and what we do in that as well. I think it relates to parcel shipments. We saw that certainly parcel — local domestic parcel shipments are lower and I think that’s public knowledge now as well. And our anticipation is that I think parcel shipments are going to be largely characterized by how U.S. retail and U.S. GDP goes as well.
And at the moment, I think that still remains slightly uncertain.
Gregory Lovins: Yes. Thanks, Deon. So on the internal indicator slide, George, to your point, Yes. I mean I think as we’ve talked about, our materials business is getting back to normal. We think the destocking is behind us as we’ve said. So part of why we didn’t really need to provide those indicators as well, given that we are back to normal in that business or getting there at least. And in apparel, I think Deon talked about a couple of minutes ago, we’re also heading in the right direction there. We continue to feel confident that by midyear, we’re kind of back to more normalized levels there. So just as you said, we’re getting back to a more normalized state here as we move through the course of the year.
Operator: Mr. Stander, there are no further questions at this time. I will now turn the call back to you for any closing remarks.
Deon Stander: Thank you all for joining the call today. And while the environment does remain dynamic, we remain extremely confident in our position and our prospects and our ability to deliver GDP-plus growth and top quartile returns over the longer term. Thank you to you all. Good day.
Operator: Ladies and gentlemen, that does conclude the conference call for today. We thank you for your participation and ask that you please disconnect your lines.
