The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Mark Neville - Scotiabank Global Banking and Markets, Research Division - Analyst
: Geoff, I'm just curious if you could maybe speak to, just in general, your reopening experience. I'm just thinking certain geographies that have
opened and certain markets or certain businesses that were more impacted such as Food & Beverage, is there typically a lag sort of in the sales
recoveries or a surge sort of inventories are built?
Question: Mark Neville - Scotiabank Global Banking and Markets, Research Division - Analyst
: Right. But I guess when they do reopen, has the experience been that there's been sort of a lag in your sales? Or is there an initial surge as inventories
are restocking?
Question: Mark Neville - Scotiabank Global Banking and Markets, Research Division - Analyst
: Great. Again, it seems like the semi shortages, you're managing that well. You've obviously managed the resin situation pretty well. I guess I'm just
curious, just, I guess, broader, I hear a lot about sort of supply chain issues, logistic issues from other companies. And just -- I appreciate your
business is a little more localized, but just curious if you're sort of feeling any supply chain challenges or logistical challenges here that we should...
Question: Mark Neville - Scotiabank Global Banking and Markets, Research Division - Analyst
: Sure. Got that. And I guess just on the lower CapEx spend in Q1, is it just a timing thing? Or is it some of these challenges?
Question: Stephen MacLeod - BMO Capital Markets Equity Research - Analyst
: Sorry about that. I was on mute. Just wanted to follow-up on the CapEx question there. Can you talk a little bit about what's embedded in your
accelerated CapEx plans for this year versus last year? Or is it more than just a catch up?
Question: Stephen MacLeod - BMO Capital Markets Equity Research - Analyst
: Okay. That makes sense. And then maybe turning to the Avery business, you reminded us that Avery had a strong start to last year before getting
impacted heavily by the pandemic and you have a positive outlook for the rest of the year given, I guess, partially driven by easy comps. Can you
talk a little bit about like when would you see the Avery business returning to where it was before? Is that sort of a 2022 timing?
Question: Stephen MacLeod - BMO Capital Markets Equity Research - Analyst
: Okay. That's great. And then on Innovia, obviously, with the resin pricing issues, and you gave some color around Q2 which is great. Will those price
increases filter into the back half of the year as well? Or is it too soon to tell? Is that more driven by what's happening across...
Question: Stephen MacLeod - BMO Capital Markets Equity Research - Analyst
: Right. Okay. And then maybe just finally, are there any areas when you're sort of -- in this recovery that's a bit spotty globally, but are there any
areas that have recovered faster than expected or slower than expected?
| 
