American Forest & Paper Association Releases July 2020 Containerboard Monthly Report

Huhtamaki welcomes the development of an EU contingency plan to support Europe’s food system in times of crisis and calls for the essential role of food packaging to be fully incorporated into the plan. The EU food supply and food security contingency plan builds on lessons learned from the COVID-19 pandemic and is an important component of the European Green Deal and the EU’s Farm to Fork strategy. The availability of food, access to food, stability and utilization of food are key components of food security. Food packaging plays a key role in delivering these. It is critical to the effective functioning of modern food systems, which rely on packaging to store and transport food, while keeping safe from spoilage and disease.

A 100 per cent recycling target by 2050 for the world’s aluminium drinks cans has been set by industry leaders at COP 28. Aluminium producers, recyclers, rolling mills, can makers and industry associations have set the target having stressed the need for enhanced recycling to support the IEAs Net Zero 2050 goal. Currently more than 70 per cent of aluminium beverage cans are recycled into new products but this figure falls short of making the complete contribution necessary for achieving the 1.5-degree target.

Net sales for the fourth quarter of 2023 were $1.3 billion, a decrease of $115.3 million, or 8%, as compared to the same period in the prior year predominantly as a result of lower volumes. Income before interest and income taxes (EBIT) for the fourth quarter of 2023 was $126.1 million, an increase of $45.0 million as compared to $81.1 million for the fourth quarter of 2022 principally due to $66.6 million of rationalization charges in the prior year period.