• Q2 ahead of Q2 2023 • Half-year financial results below previous year due to pricing • Cash flow significantly improved • Strong volume increase in Board & Paper • For more transparency Packaging from now on reported as two divisions: MM Food & Premium Packaging and MM Pharma & Healthcare Packaging • Solid performance in Packaging divisions • Considerable reduction of carbon footprint vs. 1st HY 2023. Peter Oswald, MM CEO, comments: “The MM Group succeeded in improving its adjusted EBITDA and adjusted operating profit in the 2nd quarter compared to both the previous two quarters as well as last year’s 2nd quarter. The consistent execution of the profit & cash protection programme led to a significant increase in cash flow from operating activities and free cash flow. At the same time, the Group’s financial leverage remained largely constant.

Pregis®, a leading global manufacturer of protective packaging, mailing and bagging, and flexible packaging solutions, has made significant investments in new production lines at its Bethel, Pennsylvania, and Reno, Nevada facilities to increase capacity for its Pregis EverTec™ Mailer portfolio, with a particular focus on the EverTec Non-Cushioned Mailer. This investment underscores the company's commitment to meeting the growing needs of ecommerce fulfillment and retail industries. "This expansion results from strategic planning and determined readiness to meet surging ecommerce and retail demands for fiber-based, curbside recyclable mailers. Upgrading our existing facilities with new production lines means widening our footprint and making it easier to provide our most popular mailing solutions to customers nationwide," explains Stephan Carter, president of Pregis Mailing Solutions. "With the latest enhancements in production capabilities, Pregis continues to lead the way in delivering reliable and efficient packaging solutions to meet the evolving demands of the market."

Stora Enso proudly teams up with Enkei, providing recyclable packaging materials to protect their sustainable design pieces, made from discarded materials. Innovation with purpose – just the right kind of initiative Stora Enso likes to support. The Swedish startup Enkei needed to find a smart and sustainable packaging solution to protect their handcrafted designer table lamp Reminder (001) – without compromising on sustainability, safety or aesthetics. Packed and protected in a combination of corrugated board and the cushioning material Papira® by Stora Enso – both materials made by Stora Enso – the Reminder (001) can now safely make its way to customers all over the world.

Packaging paper manufacturer Sappi Europe offers the flexible packaging market’s most extensive portfolio of functional papers – with a focus on compelling alternatives to multi-layer material and plastic packaging. The company is further expanding its broad portfolio by adding new products such as Guard ICC, a flexible packaging paper for ice cream cones, Guard OHS a barrier and heat sealable paper for various food and non-food packaging applications and Guard Twist Gloss, a glossy, recyclable wax free barrier paper for twisting applications in the confectionary market. The new products will be presented at Sappi’s booth (Hall 4A, Stand 306) at this year’s FACHPACK (24. to 26. September) in Nuremberg, Europe’s central meeting place for the packaging industry and its users. *The perfect choice for ice cream cones: Guard ICC made for direct food contact *Guard OHS is an attractive complement to our existing high-barrier paper range *For sugar confectionery and chocolate wrappers: Guard Twist Gloss

Reliance Packaging, LLC, a manufacturer of printed plastic packaging, will invest more than $7.4 million to expand its operations and increase its capacity in the Town of Aberdeen. “This announcement is yet more proof that North Carolina is the best state for business,” said Governor Cooper in a press release. “When companies like Reliance Packaging choose to expand in Moore County, it validates the strength of our manufacturing economy, workforce, and our quality of life.” Operating in Aberdeen since 2014, Reliance Packaging extrudes plastic resin into printed heavy duty plastic bags and film for the lawn and garden market as well as many other outdoor applications. This expansion includes building improvements and two additional multi-layer film extruders for the 180,000-square-foot manufacturing facility.

Graphic Packaging International, LLC announced its aspiration to achieve Net Zero Greenhouse Gas emissions by 2050 in conjunction with the release of its 2023 Environmental, Social and Governance report. The ESG report outlines the company's Better, Every Day sustainability strategy and plans for achieving its new Better by 2030 sustainability goals designed to drive more circularity in its innovative paperboard consumer packaging, support a safe and inclusive culture, and protect environmental resources. "Our Vision 2030 business strategy marks an increased commitment to sustainability, innovation, and our culture," said Graphic Packaging President and CEO Michael P. Doss. "This vision will advance our path toward global leadership in sustainable consumer packaging and motivate us to deliver products that are better for our customers, better for consumers, and better for our planet."

Amcor Interim CEO Peter Konieczny said: “Amcor finished fiscal 2024 strongly, as the underlying businessdelivered another sequential improvement in volume and earnings growth, with fourth quarter adjusted EPS up9%, ahead of the expectations we set out in April. Volumes returned to year on year growth in the quarter ascustomer demand improved and our teams maintained their outstanding focus on managing costs, drivingstrong margin expansion. Annual adjusted free cash flow was at the top end of our guidance range and up 12%on last year.

Green Bay Packaging (GBP) is thrilled to announce a land acquisition near Phoenix, Arizona. The approximately 80-acre parcel is located at the NEC/SEC of Bianco and Kortsen Roads in Casa Grande. “We are absolutely thrilled to welcome Green Bay Packaging to Casa Grande,” said Casa Grande Mayor Craig McFarland. “This investment is a testament to our city’s strategic growth and commitment to fostering a vibrant business environment. We look forward to a long and prosperous partnership with Green Bay Packaging.” “Green Bay Packaging is excited to be a part of the great community of Casa Grande Arizona,” said GBP Executive Vice President Bryan Hollenbach. “The surrounding markets are a growing business community that we believe will be a great fit for the future presence of a significant GBP corrugated box operation. We want to thank Newmark and Land Advisors for their help in bringing this important investment to closure.”

In an era where environmental consciousness is at the forefront of consumer and corporate agendas, the packaging industry is undergoing a profound transformation. Around the world industries are strengthening their focus on sustainability and methods to reduce environmental footprints. With the rising awareness of environmental issues like plastic pollution and deforestation, businesses are turning to recycled pulp packaging to meet their needs. Recycled pulp, derived from post-consumer waste paper, offers a sustainable alternative to traditional packaging materials like plastic and virgin paper. By diverting waste from landfills and reducing the demand for new raw materials, recycled pulp helps conserve natural resources.

After years in the commercial construction industry, XF Films has partnered with Chandler Properties to use Barrier-Bac, an anti-vapor barrier, in the Chandler Reserve Club, a gated residential project development in Florence, SC. This is the first time Barrier-Bac has been used in residential construction. General Manager of XF Films Frank Chen said Barrier-Bac’s debut in residential construction is a win for the Inteplast Group business unit. “The project owner agreed that this would greatly benefit the rental houses in the long run. This is the first time that our commercial grade Barrier-Bac was used on residential houses. The success of this project has opened the door for us to the residential building market, and we are excited about future possibilities,” said Chen. The topography of Florence’s flat terrain puts it at risk for flooding and higher occurrences for hurricanes, according to the city’s official website. In addition, Barrier-Bac is another layer of insulation and supports lower energy costs for residents. While single-family homes often use low-grade poly film with a 0.1 water vapor permeance rate, Barrier-Bac – has a 0.02 water permeance rate, rendering it compliant and superior to alternatives. Along with its advanced water vapor blockage, Barrier-Bac ensures longer structural integrity for homes.

Retail giant, Amazon, recently delivered a welcome break from the political news media to report on their shift to paper packaging across a significant part of their North American operations. As detailed in a press release on June 20th, 2024, Amazon reported a transition of 95% of their box “filler” from plastic air pillows to a paper void fill solution. This multi-year transition has been enabled by significant investments in their fulfillment operations, the package design engineering teams and sourcing teams. Amazon's leadership in sustainable packaging sets an example for the industry, demonstrating how aligning packaging choices with broader business objectives and sustainability goals can lead to innovative solutions and operational efficiencies. At Pregis, we’re pleased to be an innovation partner with Amazon to support their mission to “Ensure that customers receive their items undamaged, while using as little packaging as possible to avoid waste and prioritizing recyclable materials.” We share in Amazon’s focus on protecting against damage, optimizing packaging material use and designing for circularity (in layman’s terms that means enabling recyclability at end of the products life, so it does not become landfill waste).

Second Quarter 2024 Financial Highlights: Net sales of $1.35 billion decreased 3% as reported, with EMEA decreasing 5%, APAC decreasing 3% and the Americas decreasing 2%. Net sales decreased $24 million, or 2%, on a constant dollar basis. Price had an unfavorable impact of $41 million, or 3%. Volumes increased by $18 million, or 1%. Net earnings were $98 million, or $0.67 per diluted share, as compared to net earnings of $94 million, or $0.65 per diluted share in the prior year.

Second quarter 2024 net income (loss) was $8.8 million ($0.26 per diluted share) compared to $(18.9) million ($(0.56) per diluted share) in the second quarter of 2023. Net income (loss) from ongoing operations, which excludes special items, was $10.3 million ($0.30 per diluted share) in the second quarter of 2024 compared with $(2.0) million ($(0.06) per diluted share) in the second quarter of 2023. John Steitz, Tredegar’s president and chief executive officer, said, “For the second quarter in a row we recognized a meaningful profit from ongoing operations after suffering a period of losses that began with the second quarter of last year. In addition, results in the most recent quarter improved sequentially.” Mr. Steitz further stated, “We continue to view the bottom of the recent severe down cycle at Bonnell Aluminum as occurring in the third quarter of 2023, which we believe was a residual impact of the pandemic starting in the second half of 2022. Net new orders and sales volume have increased since the apparent bottom. Through the second quarter of 2024, we have yet to see a significant improvement in our orders from the favorable preliminary determinations of duties on imports that were made in March and May by U.S. authorities. However, data available on U.S. import trends of aluminum extrusions appear to indicate the onset of a purchasing shift back to U.S. producers.”

Second Quarter Highlights: *Continued strong demand in tissue, improved demand in paperboard *Completed acquisition of Augusta paperboard manufacturing facility *Net sales of $586 million, up 12% from the second quarter of last year, primarily driven by incremental sales volume from Augusta *Net loss of $26 million, or $1.55 per diluted share compared to $30 million income, or $1.75 per diluted share in the second quarter of last year

UPM Raflatac is excited to announce the appointment of Brinder Gill as the new Senior Vice President (SVP) of the Americas Region, effective August 1, 2024. Currently serving as Director of the Paper Laminates Business Unit for the same region, Gill brings extensive knowledge, experience and enthusiasm to this leadership position. Gill's tenure with UPM Raflatac has been marked by outstanding contributions in various roles, demonstrating his commitment to excellence and commercial success. As the former East Area Sales Director for the Americas, he has a proven track record of driving growth and efficiency. Prior to UPM Raflatac, Gill was the Senior Manager of Global Beauty Category Marketing at Silgan Dispensing Systems. He is highly regarded in the industry for his diverse skill set and strategic acumen.

Kevin Kwilinski, Berry’s CEO said, “Our strong financial results in the quarter were consistent with our expectations and our teams executed very well. Notably, we achieved a 2% increase in overall organic volumes, with each four operating segments delivering low-single digit volume growth. At the same time, we delivered a solid increase in our operating EBITDA margins, which were 110 basis points higher than the previous year. We place a high value on honoring our commitments and excellence in execution. This quarter, I’d like to emphasize our team’s outstanding performance in achieving volume and earnings growth, as well as our progression in reducing our leverage and optimizing our portfolio. We are confident in the strength of our underlying businesses, our customer value proposition, and our execution capabilities. We expect business momentum to continue as we demonstrated in the June quarter, including delivering, low-single digit volume growth in the fiscal fourth quarter and exiting fiscal 2024 at or below our 3.5x leverage target. I am excited by the attainable growth and operational excellence opportunities ahead. We’re focusing on three key efforts: optimizing our portfolio to accelerate growth and deleveraging, implementing our lean transformation, and driving growth by enhancing our commercial excellence.”

Greif, Inc. announced it has sold Delta Petroleum Company, Inc. (“Delta”), a North American filling and logistics services business, to PSC Group LLC, a North American leader in product handling, site logistics, railcar repair, and sustainability services for the petrochemical, refining, and marine industries. "We are happy to have worked with the PSC Group in a transaction that brings value to both parties," said Ole Rosgaard, President and Chief Executive Officer of Greif. "While Delta is a solid business that exemplifies our Legendary Customer Service mindset, it no longer aligns with our core growth strategy of expansion into resin-based industrial products serving higher-growth and less cyclical end markets. The transaction value reflects the quality of both the business and our people, and the funds from this sale will be used to accelerate our strategic vision.”

Diversey, a Solenis company, proudly announces that the Institute of Hospitality (IoH) has endorsed its 17 online video training courses focused on cleaning and disinfection. These courses, available through the Typsy learning platform, are designed to enhance the skills of housekeeping, laundry, and food and beverage teams in the hospitality industry. Diversey has a long-standing history of serving the hospitality, healthcare, food and beverage, food service, retail, and facility management markets for over a century. With a presence in over 100 countries, we continue to innovate and meet the diverse needs of our global business partners. Partnering with Typsy, Diversey expands its offerings for the hospitality industry, providing an on-demand training portfolio designed to ensure optimal guest experiences. This endorsement recognizes Diversey's rich training expertise, Application Expert teams’ unique capabilities, and best-in-class service attitude in hospitality, and we are proud of this achievement.

In the journey towards sustainable development, the concept of a circular economy has gained significant traction. At the heart of this concept is the idea of reducing waste and continually reusing resources. In the paper industry, circularity is transforming how paper, paper-based packaging , and related products are produced, used, and recycled. Let’s look at the circularity of paper products, focusing on packaging, marketing, and consumer goods, highlighting the industry’s strides and challenges. In the journey towards sustainable development, the concept of a circular economy has gained significant traction. At the heart of this concept is the idea of reducing waste and continually reusing resources. In the paper industry, circularity is transforming how paper, paper-based packaging , and related products are produced, used, and recycled. Let’s look at the circularity of paper products, focusing on packaging, marketing, and consumer goods, highlighting the industry’s strides and challenges.

Summary: *Achieved GAAP net income attributable to Sonoco of $91 million, Adjusted EBITDA of $262 million, diluted earnings per share of $0.92 and diluted Adjusted earnings per share of $1.28 *Generated strong productivity of $51 million during the second quarter and $102 million during the first half of 2024 *Generated $275 million of operating cash flow and $96 million of Free Cash Flow during the first half of 2024 *Entered into an agreement on June 24, 2024, to acquire Eviosys for approximately $3.9 billion; expected to be completed in the fourth quarter of 2024. “Sonoco delivered solid second quarter results with sequential growth in adjusted EBITDA and EPS,” said Sonoco’s President and CEO, Howard Coker. “While the pace of Consumer volume recovery remains muted, we were pleased to see low single digit organic volume improvements in Industrials. Importantly, productivity was $51 million in the second quarter bringing our first half 2024 total to $102 million, well ahead of our full year outlook. Our assertive actions to improve productivity from value creating capital and portfolio simplification has continued to yield results. In addition, we continued executing on our disciplined and dynamic capital deployment strategy by investing in capital and innovation projects while returning capital to shareholders.”

Second Quarter 2024 Financial Highlights: *Net Revenues of $1,338 million for the second quarter of 2024 were down 6% compared to $1,426 million in the second quarter of 2023 and up 7% compared to $1,252 million in the first quarter of 2024. *Net Income of $20 million for the second quarter of 2024 compared to a net loss of $139 million in the second quarter of 2023 and net income of $10 million in the first quarter of 2024. Pactiv Evergreen Inc. (“Pactiv Evergreen” or the “Company”) today reported results for the second quarter of 2024. Michael King, President and Chief Executive Officer of Pactiv Evergreen, said, “This past quarter marked a significant milestone in our transformational journey as we announced an agreement to sell our Pine Bluff mill and Waynesville extrusion facility to Suzano. This is a great outcome for Pactiv Evergreen and upon closing of the transaction, we will exit our final remaining mill, allowing us to focus on our core North American converting operations.

April–June 2024 (compared to 4–6/2023): *Sales were EUR 509.8 million (498.2). *The comparable operating result was EUR -0.8 million (27.3), or -0.2% (5.5) of sales. Operating result was EUR -0.7 million (29.5). *Comparable earnings per share were EUR -0.03 (0.05), and earnings per share were EUR -0.03 (0.06). *Comparable return on capital employed was 0.3% (4.6). *Net cash flow from operations was EUR -8.6 million (15.6).

Net Income was $190 million. This compares to second quarter 2023 Net Income of $150 million. The second quarter of 2024 was impacted by a net gain from special items of $22 million and the second quarter of 2023 was impacted by a net charge from special items of $37 million. Michael Doss, the Company's President and CEO said, "Second quarter played out largely as expected, with continued strength in Foodservice and Beverage results, and strong execution driving solid Adjusted EBITDA. Consumers are responding to higher prices by shifting their purchasing patterns, and our portfolio, designed to move with the consumer, is doing just that. Graphic Packaging's innovation leadership was on full display in the quarter with a big win for Paperseal™ Shape at one of the UK's largest food retailers. We are delivering the sustainable packaging solutions consumers prefer and are on track to reach $200 million in Innovation Sales Growth during 2024.

Silgan Holdings Inc. reported second quarter 2024 net sales of $1.38 billion and net income of $76.1 million, as compared to second quarter 2023 net sales of $1.43 billion and net income of $78.9 million. "The Silgan team delivered solid second quarter results that were above the midpoint of our guidance range, as our business continues to show strength and improving year-over-year trends," said Adam Greenlee, President and CEO. "Our global dispensing business remains a bright spot and continues to benefit from our market leading innovation, strong end market demand and the commercialization of new business wins that all contributed to drive double digit growth for our dispensing products and more than 20% higher Adjusted EBIT in our Dispensing and Specialty Closures business year-over-year.

Total Boxboard production in Q2 decreased 1% compared to Q2 2023. The boxboard operating rate was 88.5%, up 2.5 points from the same quarter last year and up 0.7 points year-to-date. *Solid Bl. Folding–Domestic production increased 13% compared to Q2 2023. *Solid Bleached Boxboard unmade orders were up 29% compared to the end of the previous quarter and increased 35% compared to June 2023. *Uncoated Recycled Boxboard production increased 3% compared to Q2 2023, and was up 2% when compared to the same 6 months of 2023.

According to the report, total Containerboard production in Q2 increased 7% compared to Q2 2023. It was up 7% when compared to the same 6 months of 2023. *Operating rates for all major grades except Semichemical Medium increased compared to Q1 2024, and total production was the highest it has been since Q2 2022. *Unbleached Kraft Liner production for export surged more than 44% over its year-ago levels. Total export production for the first half of the year is also up 40%. *Recycled Medium is the only grade with a flat operating rate (-0.2%) compared to the first half of 2023, as capacity increases (+175,000 tons) have slightly exceeded production gains (+140,000 tons). *Domestic new supply for Q2 was slightly lower than last year’s peak in Q4, but it is still up 3.7% year-to-date, as domestic production has increased as much as export production in terms of tonnage, and imports are up 9.8%.

The investments are intended to streamline the upgrading of technology and renewable energy solutions. These include the acquisition of two top-of-the-range fluting machines for our packaging facilities in Oporto and Leiria packaging facilities, and we have upgraded a corrugator unit for optimal performance at our packaging facility in Lisbon with the installation of a 2,800mm (approximately 9.19 ft) wide Dry End. We have also invested in a large processing machine that is specifically intended for the heavy-duty marketplace and for corrugated cardboard solutions that are robust enough to transport heavy, large, or bulky products for industrial and agricultural sectors. DS Smith customers in the e-commerce sector are benefitting from the upgrading of machinery to produce padded paper envelopes, and designers have innovated a sustainable fibre-based alternative solution to plastic-based bubble-wrap.

SCA’s earnings for the second quarter were stronger compared with the preceding quarter and the year-earlier quarter. Demand for fiber-based products gradually grew during the first half of the year, which led to progressively higher selling prices that positively impacted earnings. The high rate of self-sufficiency in wood raw material, energy and logistics continued to contribute to effective cost control and the strategic capital expenditures recently made in pulp and packaging paper resulted in higher delivery volumes. The supply of wood raw material to SCA’s industries was stable. The price of sawlogs and pulpwood continued to rise slightly compared with the preceding quarter. Seasonally stronger demand combined with higher sawlog costs led to increasing selling prices for solid-wood products compared with the preceding quarter. Demand in the Pulp segment remained at a good level with increased delivery volumes and progressively higher selling prices compared with the preceding quarter.

A new state of the art tissue paper mill is planned by Metsa in the UK through a landmark investment of hundreds of millions of pounds. The planned tissue paper mill in Goole, East Riding of Yorkshire in the UK, will use the best available technologies to manufacture 240,000 tons of tissue paper a year for the UK and Irish markets, using fresh fibre pulp as the main raw material from sustainably managed forests in the Nordics. This investment would deliver the largest tissue mill in the UK and significantly reduce the quantity of tissue products that are currently imported into the UK and Ireland each year. When operating at full capacity the mill will create 400+ direct jobs at the facility, as well as thousands more across the supply chain and the local economy.

In an ambitious stride towards environmental sustainability, Lacerta Group, LLC today announced the rollout of its newest innovation, ReCERTA™, a sustainable packaging material crafted from post-consumer recycled plastic. The introduction of ReCERTA™ comes on the heels of Lacerta's recent accolade, the EcoVadis Bronze status, awarded in February 2024 for the company's steadfast commitment to sustainability and circularity in operations. Matt Crider, VP of R&D and New Product Development at Lacerta, reflected on the achievement, stating, "Receiving the EcoVadis Bronze Status propels us further along our journey of environmental stewardship, and with ReCERTA™, we are setting a new benchmark for sustainable packaging." ReCERTA™ is engineered with a minimum average of 10% FDA-approved post-consumer recycled (PCR) content, underscoring Lacerta's dedication to reducing the environmental footprint of its packaging solutions. The material is designed to serve the needs of food processors, supermarkets, and distributors who are keen on aligning their operations with Environmental, Social, and Governance (ESG) objectives.

Q2 2024 in brief *Net sales decreased 1% to EUR 1,038 million (EUR 1,052 million) *Comparable net sales growth at Group level was -1% *Reported EBIT was EUR 105 million (EUR 55 million); adjusted EBIT was EUR 106 million (EUR 93 million) *Reported EPS was EUR 0.62 (EUR 0.24); adjusted EPS was EUR 0.63 (EUR 0.55) *The impact of currency movements on the Group’s net sales was EUR -6 million and EUR -1 million on EBIT

Tetra Pak and Mengniu Group today announce the launch of a limited edition Milk Deluxe Pure Milk range, customised with 30 different designs of masterpieces from Van Gogh and Monet. Packaged in Tetra Prisma® Aseptic 250 Edge cartons with DreamCap™ 26 closure, the special edition range has been brought to market through a collaboration with Meet You Museum. The cartons are now accessible to consumers across Greater China – online and in stores. Mengniu is the first dairy brand in the world to offer consumers these striking designs, which include some of the world’s most celebrated art, exploiting the unique design variability offered by Tetra Pak® Custom Printing. These “handheld” works of art offer consumers an immersive experience, all whilst enjoying a nutritious milk drink. Demand for product personalisation is increasing, as well as consumer expectations about more authentic engagement with brands. For food and beverage (F&B) manufacturers, leveraging technology such as Tetra Pak® Custom Printing presents an opportunity to creatively respond to this rising demand; therefore, deepening the connection and interaction with consumers.

Berry Global Group, Inc. and Glatfelter Corporation announced that the proposed merger of Berry's Health, Hygiene and Specialties Global Nonwovens and Films business with Glatfelter progressed further with the creation of the Magnera brand, a global leader in the specialty materials industry. The launch of this new identity marks the next chapter in the transaction journey, emphasizing a commitment to innovation and leadership in the specialty materials industry. Magnera will leverage a broad platform of 46 global manufacturing facilities, offering its customers innovative solutions more quickly from closer locations and minimizing environmental impact. Curt Begle, President of Berry’s Health Hygiene & Specialties Division, who will lead Magnera as CEO, said, “Magnera’s purpose is to better the world with new possibilities made real. By continuously co-creating and innovating with our partners, we will develop original material solutions that make a brighter future possible. With a breadth of technologies and a passion for what we create, Magnera’s solutions will solve end-users’ problems, every day.” With a focus on innovation, operational excellence, and strategic market penetration, Magnera will have the broadest global product offering in high-growth markets for both polymer and fiber-based product applications.

Packaging Corporation of America reported second quarter 2024 net income of $199 million, and net income of $199 million, excluding special items. Second quarter net sales were $2.1 billion in 2024 and $2.0 billion in 2023. In the Packaging segment, corrugated products shipments per day were up 9.2% over last year’s second quarter and total shipments, with one additional shipping day, were up 10.9%. Containerboard production was 1,281,000 tons, and containerboard inventory was up 16,000 tons compared to the second quarter of 2023 and up 20,000 tons versus the first quarter of 2024. In the Paper segment, sales volume was up 12% compared to the second quarter of 2023 and down (8%) versus the first quarter of 2024. Commenting on reported results, Mark W. Kowlzan, Chairman and CEO, said, “results for the quarter reflect our strong market conditions in the Packaging segment. This drove a new all-time containerboard production record in order to service corrugated products and containerboard demand which grew stronger each month, ending with a new corrugated shipments-per-day record for the month of June. We were also able to build some inventory ahead of what we expect to be a busy second half of the year. Packaging segment prices and mix moved higher from first quarter levels as we continue to implement our announced price increases. Paper segment prices and mix as well as volume came in as expected, and the scheduled outage at our International Falls mill was managed very well. Results also reflect our constant focus on minimizing inflationary cost increases through efficiency and usage initiatives and capital project benefits throughout our mills and converting facilities.”

Second Quarter 2024 Highlights: *net earnings of $498 million; includes a tax benefit of $338 million related to internal legal entity restructuring *cash provided by operations of $365 million and returned $160 million to shareholders in dividends. "Reflecting on my first 90 days, I am confident in our teams' ability to unlock substantial value at IP," said Andy Silvernail, Chief Executive Officer. "While our second quarter financial results increased sequentially on better price and seasonally higher volumes, we expect near-term performance to be challenged. In order to accelerate improvement, we are deploying an 80/20 business process. We will make the changes needed to focus our portfolio, become excellent with our customers and optimize our cost to deliver profitable growth. In North America, our investments will center on providing customers with the most reliable and innovative packaging solutions. We also look forward to the combination with DS Smith and together creating significant value for our shareholders."

Silgan Holdings Inc. announced that it has entered into a sale and purchase agreement to acquire Weener Plastics Holdings B.V., a leading producer of differentiated dispensing solutions for personal care, food and healthcare products for an enterprise value of €838 million. Weener operates a global network of 19 facilities predominantly in Europe and the Americas, with approximately 4,000 employees and proprietary manufacturing technologies including significant clean room capabilities. “The proposed acquisition of Weener represents the continuation of our strategy to expand our global Dispensing and Specialty Closures franchise and a clear example of the effectiveness of our disciplined capital allocation model to create value for our shareholders,” said Adam Greenlee, President and CEO. “The combination of Weener’s innovative product offering, advanced manufacturing technologies and efficient operating footprint, strong customer relationships and presence in growing consumer markets, including personal and health care, complements our existing dispensing business well. As with prior acquisitionsin Dispensing and Specialty Closures, Weener has established its market position through innovation, cost leadership and an intense focus on partnering with their customers to meet demanding market requirements,” continued Mr. Greenlee.

Stora Enso has appointed Niclas Rosenlew Group Chief Financial Officer. He will replace Seppo Parvi, who has previously announced that he will leave Stora Enso to continue his career outside the Company. Stora Enso has also appointed Carolyn Wagner Executive Vice President, Packaging Solutions division. She will replace Ad Smit who will retire. They will join Stora Enso latest in January 2025 and be members of Stora Enso’s Group Leadership Team. Niclas Rosenlew is currently Group CFO at the Swedish stock-listed industrial company SKF, a position held since 2019. Prior to his current role, he held a CFO position at Basware, and senior finance positions at Microsoft and Nokia. Niclas holds a Master of Science degree in Finance. Carolyn Wagner is currently Divisional CEO of the Packaging Division at the German Klingele Paper & Packaging Group. Prior to her current role, she has held senior positions at other European corrugated packaging companies, amongst others, DS Smith and SCA. Carolyn holds a degree of Graduate Engineer Packaging Technology.

Q2/2024 (year-on-year) • Sales decreased by 3% to EUR 2,301 (2,374) million; however, continuing operations grew by 1%. • Operating result (IFRS) was EUR 99 (-253) million. • Earnings per share (EPS) were EUR 0.06 (-0.29) and EPS excl. fair valuations (FV) was EUR 0.07 (-0.27). • The value of the forest assets increased to EUR 8.7 (8.1) billion, equivalent to EUR 11.06 per share. • Cash flow from operations amounted to EUR 323 (146) million. Cash flow after investing activities was EUR 86 (-70) million. •Net debt increased by EUR 466 million to EUR 3,497 (3,030) million, mainly due to the board investment at the Oulu

Net sales in the second quarter were $3,040 million compared to $3,109 million in the second quarter of 2023 reflecting higher global beverage can shipments offset primarily by the pass through of $94 million in lower material costs and unfavorable foreign currency of $13 million. Income from operations was $379 million in the second quarter compared to $367 million in the second quarter of 2023. Segment income in the second quarter of 2024 was $437 million compared to $414 million in the prior year second quarter driven by improved results in global beverage operations. Commenting on the quarter, Timothy J. Donahue, Chairman, President and Chief Executive Officer, stated, "The Company performed well during the quarter, led by strong results in each of the global beverage businesses. Benefitting from our broad geographic presence and strategic customer alliances, beverage segment income improved by 21% in the second quarter on a combined global basis. Beverage can shipments improved 6% globally in the second quarter, including 9% in North America. Beverage can shipments in Europe and Latin America were also strong and exceeded longer-term expectations of low-to mid-single digit volume growth.

Quarter Highlights: *Net sales of $5.0 billion were down 2 percent, with organic sales growth of 4 percent versus the prior year. *Reported gross margin was 36.0 percent, adjusted gross margin was 36.9 percent, up 290 basis points versus the prior year, driven by organic net sales growth and gross productivity gains. *Diluted earnings per share were $1.61; adjusted earnings per share were $1.96, up 19 percent versus prior year including a $0.12 year-on-year headwind from currency translation.

Time Magazine's exclusive list highlights companies that have made significant strides in prioritising sustainability and environmental responsibility and this prestigious recognition is testament to our commitment to sustainability, which sets us apart as a leader in the packaging sector. "This recognition from Time Magazine is a powerful validation of our Now & Next Sustainability Strategy. We continue to help our customers to transition to a low carbon, circular economy as we live our company purpose to Redefine Packaging for a Changing World.' Wouter van Tol, Head of Sustainability & Community Affairs, DS Smith.

Clearwater Paper Corporation announced that it has entered into a definitive agreement to sell its tissue business to Sofidel America Corporation, a subsidiary of Sofidel S.p.A., a leading manufacturer of paper for hygienic and domestic use, for $1.06 billion, subject to adjustments for debt, cash, transaction expenses and net working capital. The transaction represents the next step in the Company’s transformation to become a premier independent supplier of paperboard to North American converters and the conclusion of its previously announced review of strategic options for the tissue business. “We are pleased to have reached this agreement with Sofidel, which we believe positions Clearwater Paper for its next chapter of growth and value creation,” said Arsen Kitch, President and Chief Executive Officer. “Clearwater Paper is transforming into a premier paper supplier in North America. Upon completion of this transaction, we intend to deleverage our balance sheet while scaling and diversifying our paperboard business to meet the needs of our customers. We look forward to delivering innovative and sustainable products to our converter customers while generating strong returns for our shareholders.”

Coreless paper rolls have emerged as an innovative and sustainable solution in the realm of paper packaging products. PaperSpace Coreless e+ is our newest simple, versatile paper dunnage solution featuring easy-to-handle paper rolls without the central cardboard core. The absence of the core means less waste and more usable paper. See sell sheet at: https://www.itape.com/wp-content/uploads/2024/07/PaperSpace-Coreless-e-SS.pdf

We’re excited to announce the publication of the 2023 Novolex Sustainability Report! Our pillars of Products, Operations and People and Communities are how we approach sustainability across our businesses. The associated key performance indicators (KPIs) for each of them provide the framework for every annual report. The consistency of our reporting framework provides transparency and comparability of the progress we’ve made across each pillar year over year. The progress made in 2023 would not have been possible without the hard work of all 10,000 members of the Novolex family. “There isn’t a role at Novolex that doesn’t have a significant impact on what sustainability means for us,” explained Novolex CEO Stan Bikulege in his opening letter of the report. “Maintaining safe workplaces, innovating new products, reducing energy use, supporting our communities, and many more initiatives all reflect sustainability at Novolex.”

Total packaging papers & specialty packaging shipments in June increased 7% compared to June 2023. They were up 10% when compared to the same six months of 2023. The operating rate for unbleached packaging papers was 82.9%, up 1.1 points from June 2023 and up 4.5 points year-to-date. Shipments of the biggest subgrade in bleached packaging papers – food wrapping – were 25,500 short tons for the month of June, up 6.3% from the same month last year and down 0.9% year-to-date.

Strategically located in Aschaffenburg, the facility has a surface area of more than 4,000 m² for facestock, adhesives and liners. Barely months after opening, intensive work is underway at the new Adestor by Lecta converting plant in Germany to deliver orders for the full range of self-adhesive materials produced by the company with optimal efficiency. Its location in Aschaffenburg, in the state of Bavaria, means that nearly all the major cities of Central Europe, including Berlin, Munich, Paris, Amsterdam and Prague, lie within a 500-kilometer radius. Its proximity to Frankfurt is another asset.

Mondi, a global leader in sustainable packaging and paper, has been recognised with multiple awards at this year’s Crescents and Stars for Packaging competition in Türkiye. These accolades affirm Mondi’s position as a leading packaging solutions provider that meet customer needs while simultaneously pushing the boundaries of sustainability and design. "Each of our award-winning products reflects our strategy to integrate customer feedback into our design process, ensuring that we address both the practical and environmental challenges our clients face. This recognition fuels our drive to continue innovating and leading the industry towards more sustainable and effective packaging solutions," added Armand Schoonbrood, COO Mondi Corrugated Solutions.

Global packaging leader, Berry Global Group, Inc.., worked with U.S.-based ice cream manufacturer, Wells Enterprises, Inc., to expand its Twist Cones frozen treat line into single-serve, freezer-grade Twist pints for Blue Bunny. The new pints, which offer a new twist on soft serve, are currently available at retailers across the U.S., including Walmart, Kroger, Food Lion, Albertson’s, Safeway, and Publix. Made with widely recyclable polypropylene (PP) and a high-density polyethylene (HDPE) lid, the new Twist pints improve the recyclability of traditional ice-cream packaging, which is generally made of plastic-lined, paper board. The pints are also designed for nestability during transportation and storage, minimizing wasted space during transportation. This helps optimize supply chain efficiency and lessen the need for truckload shipments. “Berry is an excellent partner for Wells. They understand our need for innovative, sustainable packaging and have worked closely with us to develop it,” explained Julee Zugel, Director of Strategic Sourcing. “We appreciate how engaged they are with our team to understand new opportunities in the packaging arena. They are innovative, forward thinking and an example of how a partnership should work.”

“Adhesives are indispensable in packaging production: they reduce material requirements and enable lighter packaging, which is in line with the objectives of the new Packaging and Packaging Waste Regulation (PPWR). Although adhesives only make up a small proportion of total packaging, they have a significant impact on recycling processes, paper production and the CO2 footprint. The Sugra (“Sustainable Gluing with Renewable Adhesives”) project is dedicated to this topic: it is developing adhesives based on renewable raw materials that protect the recycling process and reduce the CO2 footprint. These adhesives meet the requirements of modern production techniques and promote sustainable production without compromising performance. The basis of adhesives is starch: this natural raw material is already used intensively in natural and modified form. Starch plays a particularly important role in paper production and processing, as it increases the strength of paper and refines its surfaces. In corrugated cardboard production, starch is used to bond the layers together.

Based in Wisconsin, Belmark is a global industrial leader in packaging and labeling. The new flexible packaging plant in Allen County will mark their second expansion out of their home state and will add over 150 new jobs to the Allen Springs Industrial Park. “This is gonna catch those people that, as I said, are leaving Allen County to go to work in Bowling Green and Franklin and down in Tennessee. This is going to catch some of those people and allow them to stay right here in Allen County and work and provide for their families,” said Allen County judge-executive Dennis Harper. Throughout the ceremony, representatives of Belmark shared their insight into why Allen County was chosen for the expansion. Citing the small town’s charm and potential for economic growth, CEO Karl Schmidt and plant manager Jeff LeCaptain say that Allen County and Scottsville are welcoming community partners for the manufacturing center.

Our recent webinar, "Navigating the PPWR Transformation: Plastic Packaging Recyclability and Labeling Impacts", shed light on the evolving landscape of packaging recyclability regulations and their implications. As businesses prepare for the upcoming changes under the Packaging and Packaging Waste Regulation (PPWR), understanding the legislation and timelines is essential for staying ahead. While specific details are still being finalized, the overarching direction is clear, enabling companies to plan and adapt their strategies. We received active participation and various questions during the webinar, which we are addressing in this article in a question-and-answer format.

Pactiv Evergreen Inc. announced that it has signed a definitive agreement to sell its Pine Bluff, Arkansas, paper mill and Waynesville, North Carolina, extrusion facility, to global paper and pulp producer Suzano S.A.for $110 million in cash, subject to customary adjustments for closing amounts such as working capital. Suzano has agreed to offer employment to current employees at Pine Bluff and Waynesville. Pine Bluff produces liquid packaging board and cupstock used to make fresh beverage cartons, paper cups and other fiber-based food and beverage packaging. Waynesville provides incremental extrusion capacity for the board produced at Pine Bluff. Pactiv Evergreen and Suzano have also agreed to enter into a long-term supply arrangement at the closing of the Transaction pursuant to which Suzano would use Pine Bluff and Waynesville to supply liquid packaging board to Pactiv Evergreen’s converting business. “The sale of Pine Bluff and Waynesville concludes the strategic alternatives review process,” said Michael King, President and Chief Executive Officer of Pactiv Evergreen. “This Transaction is consistent with our disciplined focus on value creation, and we expect it to reduce the capital intensity of our business, improve our cash flow profile and further strengthen our balance sheet.”

HEINZEL GROUP has made the difficult decision to close its subsidiary, Raubling Papier GmbH, in Germany, due to persistently difficult market conditions and challenging economic circumstances. This decision follows comprehensive discussions with the local works council, resulting in a successfully concluded social plan. More than half of the affected employees have already secured new employment, reflecting the effectiveness of the company’s transition support efforts. With the closure process now focused on the sale of assets, HEINZEL GROUP is moving forward with the disposition of machinery and equipment. Andreas Sailer, CEO of Raubling Papier, stated: "We are encouraged by the rapid transition of many of our employees to new positions and are now concentrating on the sale of Raubling Papier's assets. This includes a range of high-quality machinery and equipment. Interested parties are invited to engage with us promptly as we navigate this phase."

One of the leading renewable biomaterials suppliers, UPM, has unveiled the latest findings from a highly targeted survey of some of the world’s leading packaging designers. The survey, conducted in collaboration with the Pentawards, has revealed unique insights into sustainable packaging design, including some of the key challenges faced by designers, with UPM highlighting how these can be overcome. The survey results show that while the majority (47%) of the designer respondents feel extremely comfortable handling briefs that include sustainability requirements, 43% of packaging designers would prefer more direction or information to feel fully comfortable when dealing with these briefs. This highlights a need for further education on how to incorporate sustainability into packaging design, with most respondents (35%) suggesting material guides would be the most beneficial. Further findings reveal that 57% of the designer respondents believe they always or often have the opportunity to impact the material choice of a product. However, 20% say they seldom do, and 17% almost never, which suggests some clients may not have yet realised the value of exploring alternative and more sustainable packaging solutions.

The report, published in accordance with the global reporting initiative, details several notable advancements, including: Expanding the Circularity of Products: In 2023, applicable Novolex revenues from products that were recyclable, compostable, or reusable grew to an 84% share compared to 78% in 2022. The increase reflects ongoing efforts across the Novolex portfolio to develop products that can be diverted from landfill after use. Progress towards its 30% Reduction by 2030 Greenhouse Gas Target: In 2023, Novolex reduced GHG emissions by 23%, continuing to make progress towards its goal of a 30% reduction in emissions per ton of production by 2030. Novolex GHG data are assured by a third party in accordance with the terms of the company’s sustainability-linked financing. Growing Recycled Content: Across Novolex businesses and products that use paper, Novolex increased its utilization of post-consumer recycled paper to 52% in 2023 compared to 49% in 2022.

Green Bay Packaging of Green Bay, Wisconsin, has announced it is expanding manufacturing space at its Great Lakes Packaging Division facility in Germantown, Wisconsin, with the addition of a new building. The company held a groundbreaking ceremony at the location in early July. On its website, GBP describes its Germantown Great Lakes Division as a provider of corrugated containers, point of purchase displays, wood/foam specialty packaging and contract packaging and fulfillment services. While the facility does not convert recovered paper into new paperboard, it engages in downstream functions for GBP corrugated materials, including those made at its recycled-content mill in Green Bay, in which it invested $500 million earlier this decade. The mill consumes old corrugated containers (OCC), mixed paper and other recovered paper grades. The new downstream facility will consist of 270,000 square feet of manufacturing space “for increased capabilities and streamlined operations,” says GBP. Equipment within the facility will include a rotary die cutting (RDC) machine, a laminator and a specialty folder-gluer.