Owens-Illinois, Inc. is furthering its commitment to sustainability by securing a $225 million bank loan, with a sustainability-linked pricing mechanism. The loan will be issued to OI European Group BV, a wholly owned subsidiary, and proceeds will be used to retire existing bank debt. Funding will be provided by Bank of America, who also will serve as Sustainability Coordinator for this transaction. The bank loan is one of the first sustainable improvement loans in the Food and Packaging Industry. The interest rate on the loan is indexed to O-I’s overall Environmental, Social and Governance (ESG) Score as rated by Sustainalytics. Improvements in O-I’s ESG score will reduce the interest rate under the bank loan.
Bemis Company, Inc. (NYSE:BMS) has been recognized by the Flexible Packaging Association during its 61st annual awards program for the Hunt’s® Recipe Ready® tomato paste pouch and the NFI/UPM Pharmaceuticals’ Lidocare™ pain relief patch pouch. The Hunt’s® Recipe Ready® tomato paste pouch received five awards including the Highest Achievement Award, the Gold Award for Extending the Use of Flexible Packaging, the Gold Award for Packaging Excellence, the Gold Award for Sustainability, and the Silver Award for Printing and Shelf Impact. The NFI/UPM Pharmaceuticals’ Lidocare™ pain relief patch pouch received a Silver Award for Technical Innovation.
The Hunt’s® Recipe Ready® pouches provide a convenient alternative to tomato paste in a can. The new tomato paste pouch delivers a mess-free, pre-measured two-tablespoon portion. Consumers simply tear, dispense, and toss. Advanced BPA-free barrier films withstand the acidic paste and hot-fill process, deliver a one-year shelf life, and offer a lighter weight alternative to cans. Vibrant graphics communicate benefits and quality to brand-loyal Hunt’s® consumers.
The NFI/UPM Pharmaceuticals’ Lidocare™ pain relief patch pouch features Bemis’ CXB™ sealant film that provides superior barrier and low drug uptake compared to other polymer sealants. This innovative packaging solution helps maintain the efficacy of the transdermal patch inside the package, an essential feature for pharmaceutical companies and consumers.
The Flexible Packaging Association has conducted the Flexible Packaging Achievement Awards competition since 1956 to showcase innovation and advance the use of flexible packaging. One of the industry’s most respected recognitions, the Flexible Packaging Achievement Awards competition focuses on packaging excellence, technical innovation, extending the use of flexible packaging, printing and shelf impact, and sustainability. The Highest Achievement Award is evaluated by the judges as possessing overall packaging excellence, significant attributes in all award categories, and contributing most to the advancement of the industry.