At approximately 19.40 BST yesterday evening a fire broke out in an adjacent premises to the Smurfit Kappa SSK Paper Mill in Birmingham. High winds carried the fire which reached the mill’s recovered fibre yard. Smurfit Kappa would like to thank both West Midlands Fire Service staff and the SSK team for their swift and professional response in controlling the fire within a few hours and ensuring the safety of all. The paper mill itself is unaffected and we do not expect any material impact on production.
Spadel and DS Smith launch a new 5 litre package that has been innovatively designed to ensure it’s not only practical, but sustainable too. The respective market leaders, who specialize in natural mineral water and sustainable packaging solutions, joined forces to create the Eco Pack. The octagonal box comprises of cardboard and a flexible inside plastic bag that has room for 5 litres of liquid. Its efficient use of materials enables a 65% reduction in plastic* while also extending the waters shelf life. The octagonal 5L Eco Pack is the latest innovation flowing from Spadel and DS Smith’s partnership over the last decade. As a B-Corp certified company, Spadel consistently seeks new ways to reduce its environmental footprint. DS Smith helped Spadel find and tailor its ideal packaging solution using their PackRight approach. This is a collaborative, four-step development process: starting with gaining insights, then moving on to pack development, testing and implementation. DS Smith’s Supply Cycle Thinking guided Spadel every step of the way to identify specific needs and optimize their 5L SPA® Reine Eco Pack.
American Packaging Corporation has announced that it's opening a new 275,000-square-foot Center of Excellence manufacturing facility in Cedar City, Utah. The new operation will add over 135 high-paying jobs to Iron County. APC purchased the land in October 2021 and officially broke ground on February 8, 2022, during a groundbreaking ceremony with civic leaders and company officials. The new facility is expected to open and be fully operational in June 2023, and will include flexographic printing presses, laminating, preformed pouching and finishing equipment. APC will hire 75 new APC team members as part of phase one, with career opportunities in manufacturing, production, engineering and administration.
Josh Curtis from Ravensbourne University in London triumphed in the UK Packaging Design Impact Award (PIDA) and earned this year’s Gold Award. His entry “Ritini” impressed the jury with its shape, branding, and versatility. “Ritini” is an eye-catching package, a branding tool and a clever dispenser all rolled into one. The word Ritini is Greek for resin and the tear-shaped package design is inspired by the drops of resin that are the key ingredient of the vegan chewing gum. “They are the Tears of Chios,” says Josh Curtis. “The package is designed with a colour palette that is typical of Greece. It’s user friendly, easy to dispense the gum and fits perfectly in your hand.” At PIDA, design students from universities and colleges from seven countries compete with their creative packaging designs. The competition is organized as five separate events: the USA, Sweden, France/Belgium, the UK, China*, and Germany/Austria. The winners of the Gold Award at each event will meet in a Grand Finale at Luxe Pack Monaco in October.
The “sustainable watch packaging” project between the two independent, family-owned companies Koehler Paper and Mühle-Glashütte focuses on developing high-quality yet sustainable packaging for a luxury watch — two characteristics that it has previously been difficult to combine in communication with customers. Koehler Paper came up with the idea of producing environmentally friendly, luxury packaging made from 100% recycled paper and designed to contain a high-quality watch. Family company Mühle-Glashütte, known for its nautical instruments and high-quality mechanical wristwatches, was taken on as a collaboration partner. Sustainability and recyclability are the main requirements for the packaging that Koehler developed together with Mühle-Glashütte and other project participants. Thilo Mühle, Managing Director at Mühle-Glashütte, stresses: “The collaboration project with Koehler Paper makes it clear that luxury no longer needs to be a guilty pleasure. What’s more, the craftsmanship of two family companies steeped in tradition is brought together here. This is reflected in the results.”
Amcor unveiled a product rebrand designed to give customers a clearer, holistic view of its growing portfolio of more sustainable packaging solutions. This significant marketing effort provides customers with greater visibility and transparency of Amcor’s extensive product portfolio that has grown over the years through innovation and strategic acquisitions. The redesign of Amcor’s innovative product portfolio highlights three key differentiating benefits for customers: the most advanced solutions in more sustainable packaging; product functionality and differentiated solutions for high growth market segments such as healthcare, dairy and protein; and performance characteristics across a wide range of material options.
International beauty packaging manufacturer and provider Quadpack and Aptar Beauty + Home, worldwide leader in the design and manufacturing of beauty dispensing solutions, have jointly developed a refillable lipstick which pushes the boundaries of sustainability and sensory appeal in makeup packaging. In a spirit of collaborative innovation, the two companies have blended their respective expertise in wood and stick mechanisms to create a product that delivers a great consumer experience: the Iconic Woodacity® Lipstick. Jeremy Garrard, Quadpack’s Director of Market Development, said, “This has been a project firmly based on shared value. Aptar is a respected partner with whom we have a strong history of collaboration. Now, we are leveraging each other’s complementary technologies, market positioning and customer base, to create a refillable makeup solution that really makes a difference.” Sergi Berthet, Vice-President, General Manager Beauty EMEA at Aptar, said, “This solution combines Aptar’s expertise in mechanisms for prestige lipsticks, with Quadpack’s know-how in high-end wood solutions. Our partnership has led to an innovative and premium refillable lipstick, which illustrates our common goal of a sustainable future for packaging”.
CANPACK commemorated the completion of the steel framing for the new 862,000-square-foot aluminum beverage can manufacturing plant during a Topping Off ceremony with Indiana Gov. Eric Holcomb and local community officials and leaders. The future plant will be home to approximately 345 well-paying, local jobs. The beam marks a significant construction milestone for the property since its groundbreaking in September 2021. Officials expect construction to be completed in time for plant operations to begin in the fourth quarter of 2022. “It’s an exciting time to be in Muncie to celebrate the construction milestone of CANPACK’s second US-based, state-of-the-art manufacturing facility,” said Peter Giorgi. “We appreciate the warm welcome and look forward to becoming an integral part of the Muncie-Delaware County community and contributing to the remarkable business environment that exists throughout the state.”
Smurfit Kappa has invested USD23.5 million to upgrade its Nuevo Laredo sheet plant in Mexico to become a fully integrated corrugated plant. The investment includes a state-of-the-art corrugator and extension of the building. The new machine, which began operating last week, will have the two-pronged benefits of reducing CO2 emissions by up to 40% and doubling production capacity. The Nuevo Laredo plant is located in the Tamaulipas region in Northeastern Mexico where Smurfit Kappa has strong partnerships in the industrial, electrical appliances and electronics sectors. The region represents 3.3% of the country’s GDP and is home to over 200 companies which manufacture products for the US. The increased capacity will streamline Smurfit Kappa’s operations in San Antonio, Texas where a fast-growing appetite for sustainable packaging is demanding larger production volumes.
Huhtamaki, a key global advanced manufacturer of sustainable packaging solutions, announced plans to expand its molded fiber product manufacturing unit in the city of Hammond, Indiana, as part of its investment in Fiber Solutions. The investment, which is expected to start ramping up towards the end of 2023, will enable Huhtamaki to better serve existing and new customers in North America with a broad range of sustainable, fully recyclable and compostable, fiber-based packaging solutions, manufactured from 100% recycled North American raw material. “The investment in this new manufacturing capacity, adjacent to our existing site in Hammond represents our strong belief in the future development of the region and in the continued success of our customers – both current and new. The expansion will introduce new sustainable fiber-based products such as egg cartons and cup carriers – manufactured on state-of-the-art machinery developed by Huhtamaki – to our portfolio in the region and drive production efficiency. Our know-how in key packaging technologies and our strong track record in sustainability make us extremely well positioned to support our customers and deliver on their sustainability agendas and goals with innovative solutions”, says Charles Héaulmé, President and CEO of Huhtamaki. Amounting to a total investment of almost USD 100 million, the expanded facility covers circa 23,000 square meters and will be built adjacent to Huhtamaki’s existing Hammond manufacturing unit. Huhtamaki has operated in Hammond, Indiana, since 1948 and currently has approximately 140 employees. It expects to employ a further 100 new employees when fully operational.
A conscious golfer's eco-feat is to buy golf balls in packaging that has a new life as an insect hotel once the packaging has been used. This innovative idea and packaging solution has recently received the most public votes in the spring 2022 New Wood project competition. It is a concrete example of circular economy, where a product, after its primary use, has another function before it ends up in the recycling. The Finnish Golf Coat Ltd wanted to create a packaging solution for its best-selling product that supported biodiversity and promoted the circular economy. Golf Coat's brand is based on eco-friendliness and biodegradability of products, so the use of a reusable box was particularly suited to the company's values and mindset. "Our aim was to create a simple, smart and cost-effective structure that would be easy to assemble and fill with, for example, leaves, saw dust or dry grass after its primary use as a golf ball box. Metsä Board and its partners developed an insightful packaging that provides an artificial nesting structure and shelter for insects and pollinators," says Aki Kuivaniemi, CEO of Golf Coat Oy.
Hilex®, a Novolex® brand, announced the introduction of the ProWAVE® Tote, a new recyclable, reusable tote bag that makes e-commerce even more convenient for supermarkets, restaurants and retailers — as well as their customers. The innovative new bag, made with 20% recycled content, is designed for curbside pickup, home delivery or carryout use. The bag features folded handles and a double-ply top that provides stiffness so the bag stays open, making loading easier and more convenient. The rectangular bottom optimizes the use of storage in a vehicle’s trunk or back seating area. The reusable bag is ideal for hot, frozen or refrigerated items. “The ProWAVE Tote is carefully designed to meet the needs of e-commerce retailers and customers alike,” said Frank Lawson, Vice President of Sales for Novolex. “It makes life easier and more convenient for everyone.”
Metsä Spring, Metsä Group’s innovation company, has launched a new 3D fibre product called Muoto®. Muoto has been produced at Metsä Group’s and Valmet’s demo plant in Äänekoski since May 2022, and is made of Metsä Group’s wood fibres. Muoto is a significant initiative in the packaging market. It is user-friendly, sustainable and scalable and features advanced technology. Using brand new technology, the products are pressed into their final form and their properties can be tailored during the production process according to the intended purpose. The raw material of Muoto grows in northern, sustainably managed forests and is fully traceable. Both renewable and recyclable, Muoto is a good alternative to fossil plastic, for example, in food packaging, including serving dishes or containers of various sizes and shapes. Packaging that is produced to meet a specific need is ideal for reducing food waste.
ePac Flexible Packaging, the industry leader in quick turn, short and medium run-length flexible packaging, has announced it will be adding a third location in Canada. Adding to operations in Vancouver and Toronto, ePac Montreal will serve CPG brands of all sizes throughout Quebec province, and its combined 3 Canadian locations will serve all of Canada. According to George Boustani, Managing Director of ePac’s Canadian operations: “Since opening ePac Vancouver in 2019 and Toronto in 2021, demand for our services has grown rapidly. To keep pace, we’ve decided to add a new sales and marketing location – ePac Montreal. In fact we are now accepting orders in Quebec, and fulfilling them from our other Canadian operations.”
Hilex®, a Novolex® brand, today announced the launch of RollStar EZ Open Produce Bags that solve a vexing problem for shoppers: how to open a produce bag with sides that “stick” together. RollStar EZ Open Produce Bags come in different gauges and sizes for fruits and vegetables. Also available are RollStar bags designed for meat, fresh seafood and bakery items. The RollStar compact dispenser makes it simple for shoppers to take one bag at a time, reducing waste by ensuring they take only the bags they need. In addition to being easier to open, the new bags offer a number of other key features: *The Star Seal bottom bags are leak-proof and stronger than conventional flat seal bags; *The universal dispenser is narrow, fits in a variety of spaces and is compatible with most roll bags; *Custom fixtures and custom prints are available; *The bags are made at multiple manufacturing facilities, ensuring business continuity for single-source customers.
Stora Enso’s new 100% virgin fiber-based kraftliner, AvantForte WhiteTop, is now commercially available. The white top kraftliner targets demanding premium segments, such as fresh food, e-commerce, and shelf-ready packaging. AvantForte WhiteTop kraftliner is engineered to meet brand owners’ need for safe, high-performing, and plastic-free packaging. The new product will serve end-uses that require exceptional strength, purity, and visual appearance. Through Stora Enso’s patent-pending technology, Tri-Ply™, the product is equipped with three fiber layers to maximize its strength and help converters and brand owners use less material than with traditional kraftliners.
Our commitment to strengthening the Circular Economy is illustrated by several goals in our Twentyby30 sustainability program, including increasing metal recycling rates in all our major markets. Ambitious targets have been set, from a 70% recycling rate in the U.S. by 2030, to 80% in EMEA in the same timeframe. We are collaborating with industry associations and other partners around the globe to achieve our goals. For example, together with other canmakers and aluminum suppliers, we are working closely with Every Can Counts (ECC) – an initiative to promote recyclability of metal containers among consumers.
Greif has launched a lightweight, high-performance jerrycan in Brazil suitable for packaging agrochemicals, chemicals, flavors, fragrances, and beverages. The JCR20L is almost 20 percent lighter than the standard 20-liter jerrycan. The reduced weight accommodates up to seven percent more jerrycans per pallet and 6.7 percent greater warehouse storage capacity. In addition, the lighter weight means lower collection costs for recycling. Internal analysis indicates that the combination of these factors amounts to a 25 percent reduction in CO2 emissions compared to the standard 20-liter jerrycan.
Mondi, a global leader in packaging and paper, has collaborated with Austrian mechanical engineering company EW Technology to launch a new machine for paper pallet wrapping that is more efficient and sustainable on small-to-medium production lines. The two companies worked together to design the innovative machine, which fills a gap Mondi identified in the pallet wrapping market. Offering two settings, the machine can be fully automated to wrap up to 60 pallets every hour or semi-automated to wrap 10-15 pallets per hour. The machine takes a full reel of Mondi’s Advantage StretchWrap paper, allowing customers to replace the multi-layer plastic which is currently the industry standard for pallet wrapping. Advantage StretchWrap is 100% virgin paper, created with renewable materials and fully recyclable in existing paper waste streams across Europe. It contains no plastic or coating, but still ensures excellent strength and tension absorption.
The Better with Less – Design Challenge 2022 is now open for submissions. The competition invites designers around the world to create the zero-waste packaging of the future and is open for submissions from 1 June to 1 December, 2022. A world-class jury of renowned package design experts will be looking for lighter, smarter, and circular solutions for some of the most common consumer packages. The competition is organized by a leading European paperboard producer Metsä Board, part of Metsä Group. “In the future, circular economy will guide all consumption. The need for packaging keeps growing, and we must use design in more innovative ways to respect the resources of our planet,” says the Better with Less – Design Challenge jury chairman Ilkka Harju, Packaging Services Director, EMEA and APAC at Metsä Board. “We are asking competition entrants to acknowledge the package’s entire lifecycle from efficient design to easy recycling and purposeful reuse – producing zero waste. It is huge responsibility, but also a brilliant playground for innovation,” he adds.
Ahead of the United Nations World Food Safety Day Tetra Pak announced its new set of research collaborations and programmes to further accelerate efforts to address challenges facing food systems worldwide. The initiative is part of the company’s drive to nurture an innovation ecosystem to open new opportunities in the areas of food availability, safety and sustainability. According to the Food and Agriculture Organisation UN FAO, the world is in a very different place compared to six years ago, when it committed to the goal of ending hunger, food insecurity and all forms of malnutrition by 2030. The current reality is that we have not been progressing fast enough towards ensuring access to safe, nutritious and sufficient food for all people. As an example, over 2 billion people did not have access to enough safe and nutritious food in 2020.
To gain insight into brand-owner and converter perspectives on over-the-counter pharmaceutical and wellness product packaging, we recently conducted a study with key stakeholders in the field. Through these conversations, we discovered some confusion exists surrounding the sustainability of packaging materials. In this article, we will share some of our findings and help clarify some of the benefits and challenges of over-the-counter packaging sustainability. We will also cover results from an LCA study we recently conducted on fiber-based pharmaceutical packaging. For over-the-counter (OTC) product brand-owners, packaging is critical: high standards for quality and safety mean strict attention to protecting the product inside. On crowded shelves, it’s important to differentiate with packaging that attracts interest, reflects such high standards, and communicates vital information about the product. Furthermore, today’s over-the-counter brands and their retailers seek to improve the sustainability of their packaging and adapt to increasing e-commerce.
For the First Quarter of Fiscal 2022 *Net sales increased 21.0% to $2.3 billion compared to $1.9 billion in the first quarter of fiscal 2021 due to the favorable impact of fewer COVID-19 restrictions compared to the first quarter of fiscal 2021. *Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 18.0%, driven by a 10.0% increase in transactions and an 7.3% increase in average ticket. *Gross profit increased to $941.0 million compared to $753.8 million in the first quarter of fiscal 2021. As a percentage of net sales, gross profit increased to 40.1% compared to 38.9% in the first quarter of fiscal 2021, primarily due to leverage in fixed costs, strong growth in other revenue, and favorable channel mix shifts, partially offset by lower merchandise margin. *Operating income increased to $437.7 million, or 18.7% of net sales, compared to $305.3 million, or 15.8% of net sales, in the first quarter of fiscal 2021. *Net income increased to $331.4 million compared to $230.3 million in the first quarter of fiscal 2021.
Paddock Enterprises a wholly owned subsidiary of O-I Glass, Inc. , announced that an order confirming its Plan of Reorganization was entered by the United States Bankruptcy Court for the District of Delaware, paving way to the implementation of the Plan and the final stage in the Chapter 11 process. “We are pleased to have achieved this significant milestone resolving Paddock’s legacy liabilities in a manner that is fair and equitable, and provides finality for the company moving forward,” said Andres Lopez, CEO of O-I Glass. “The broad support for the Plan among Claimants is indicative of the positive outcome it delivers to all parties. We look forward to implementing the final steps in the Chapter 11 process following this confirmation by the Bankruptcy Court.”
ProAmpac, a leader in flexible packaging and material science, announced that it has acquired Specialty Packaging, Inc., a family-owned manufacturer of specialty paper, film and foil packaging products for the fast food and food services industries. The addition of Specialty Packaging’s complementary product portfolio and manufacturing capabilities extends ProAmpac’s reach with food service customers and expands its footprint to the southwestern United States.Based in Fort Worth, Texas, Specialty Packaging is a leading provider of paper, film, foil bags, sandwich wraps, basket liners and other custom products for longtime blue-chip fast food and food service brands. The company produces custom and stock paper, film and foil products from its state-of-the-art 100,000 square-foot facility. With this acquisition, ProAmpac broadens its portfolio of highly customized, recyclable food packaging solutions and increases its paper bag converting capacity.
The United Group (TUG) National Conference, held in Orlando, FL, awarded Stretch Films the Supplier Industrial Gold Award on April 29. Marketing Manager Ronald Casalino on behalf of the AmTopp Division business unit. The TUG supplier award arrived only a few weeks before the June startup of AmTopp new stretch film lines at its Remington, IN plant, which is a replicate of its sister facility in Phoenix. The capacity of the plant is about 50 million pounds per year. “On the eve of starting up our new Remington plant’s extrusion lines, this award reinforces our confidence as we continuously expand the stretch film business. In turn, the new capacity in Indiana will help us better serve our distributor partners,” said Hsieh.
Klabin, Brazil’s largest producer and exporter of packaging paper, and the leader in the corrugated board packaging and industrial bags segments, takes another important step in its business strategy with the announcement of EkoFlex, its first paper for flexible packaging. The solution is targeted at diverse segments, such as food, hygiene, cleaning and pharmaceuticals, and helps to significantly reduce the use of plastic across the consumption chain. EkoFlex is produced from softwood (pine), resulting in an extensible paper with lower grammage, which offers better performance and greater resistance, with application in diverse market segments, especially in flexible packaging options such pillow bags, flow packs, stand up pouches and box pouches. EkoFlex is produced from Klabin paper, with feedstock from renewable sources derived from planted and certified forests. It is a repulpable and recyclable solution that is also certified for contact with food. The product is already available for sale in both the Brazilian market and for exports.
The operations at Metsä Group’s and Valmet’s 3D fibre product demo plant in Äänekoski has begun. At the end of 2020, Metsä Group’s innovation company Metsä Spring and Valmet announced they would be investing a total of approximately 20 million euros in the demo plant. The demo plant is part of Metsä Group’s integrated mill site in Äänekoski, and it produces finished 3D fibre packaging products directly from wet pulp without intermediate phases. The moulded fibre-based packaging can replace plastic for example in food packaging. The demo plant currently employs approximately ten people. “Our fibre-based packaging products are a significant new initiative in the global packaging market. The novelty in our products include their layered structure, which, in turn, allows their production in a raw material and energy efficient manner applying a highly automated production process. The layered structure also allows the products to be easily modified for different purposes. The customers’ reception of the new product has been very positive. We know we’re on the right path,” says Metsä Group’s project lead, VP, Jarkko Tuominen.
Smurfit Kappa, one of the world's largest paper-based packaging companies, has announced the construction of a new packaging plant in Morocco, its first corrugated plant in the country. Located in Rabat and covering an area of 25,000 m2, it will enable Smurfit Kappa to supply innovative and sustainable packaging solutions quickly and efficiently to its local customer base. The plant will create packaging for sectors including industrial, agriculture, FMCG, automotive, pharma and ceramics and serve both local customers and multinationals based in Morocco. In a market where the demand for corrugated packaging currently exceeds supply, the new plant will play an important and strategic role.
The American Forest & Paper Association (AF&PA) has released its April 2022 Packaging Papers & Specialty Packaging Monthly report. According to the report, total packaging papers & specialty packaging shipments in April decreased two percent compared to April 2021. They were up one percent when compared to the same four months of 2021. The operating rate in April 2022 was 94.0 percent, up 1.4 points from April 2021 and up 1.3 points year-to-date. Mill inventories at the end of April decreased 6,000 short tons from the previous month, and were down 8,000 short tons compared to April 2021.
A paper bag that is strong, food safe, recyclable, compostable and both offset and flexo printable. Due to a unique synergy in the value chain, five partners have created this sustainable and innovative solution. The icing on the cake: winning two prizes at the EUROSAC Grand Prix 2022: Bronze and Public Choice Award! Crown Van Gelder is constantly exploring ways to produce paper more sustainably. One of the methods to do this is to replace wood fiber by alternative fiber, such as sugar beet pulp - a result of Cosun Beet Company’s sugar production. Together, Cosun Beet Company, Novidon (also a Cosun company) and Crown Van Gelder developed the sustainable Crown Native sugar beet paper, which was then printed and made into bags by Fiorini and used by DLF. For this unique effort, the collaboration was awarded with the EUROSAC Grand Prix 2022. Grass seed producer and brand owner DLF was looking for a more sustainable, paper-based alternative for its 15 KG bag to reduce the company’s environmental impact, the search led them to Crown Van Gelder. Together with DLF’s bag producer Fiorini, Cosun Beet Company and Novidon developed an open mouth bag consisting of three layers of Crown Native paper and using paper sack glue Novinexx CPB from Novidon.
Following the successful completion of a 15-month commercial technology validation of a polymer-based barrier replacing the aluminium layer, Tetra Pak is now moving to the next level of development - testing a fibre-based barrier that is a first within food carton packages distributed under ambient conditions. This step marks yet another breakthrough in the company’s long-term roadmap towards developing an aseptic package that is fully renewable, fully recyclable and carbon-neutral. The aluminium layer currently used in food carton packages plays a critical role in ensuring food safety; and even though it is thinner than a human hair, it contributes to a third of the green-house gas emissions linked to base materials used by Tetra Pak.
Emily Frieden from the Fashion Institute of Technology in New York triumphed in USA Packaging Design Impact Award (PIDA) and earned this year’s Gold Award. Her entry “Lavash” impressed the jury most with its “attention to detail in every aspect of the brand, design, and execution.” Lavash is a volcano-shaped package for a shower set. The design features all stages of volcanic activity – dormant, active, and extinct. Even the typography mimics volcanic eruptions. “When I was researching different elements of nature I was really inspired by the juxtaposition of the restorative parts of volcanoes,” says Emily Frieden. “It’ s just cool, fun, nature. I thought there’ s a lot I can do there, how I can bring that experience to packaging. It was a lot of fun.” At PIDA, design students from universities and colleges from seven countries compete with their creative packaging designs. The competition is organized as five separate events: the USA, Sweden, France/Belgium, the UK, China*, and Germany/Austria. The winners of the Gold Award at each event will meet in a Grand Finale at Luxe Pack Monaco in October.
Mondi has collaborated with German machine supplier beck packautomaten to create a functional paper solution that has the potential to revolutionise eCommerce by replacing plastic packaging and creating right-sized packaging for a wide range of products. Mondi’s FunctionalBarrier Paper is 95% paper and features enhanced barrier properties to guarantee premium product protection against water vapour and moisture. This is essential for many products being shipped, including electronic goods. The paper is made with a higher strength, enabling it to carry heavier items without breakage. It is responsibly sourced, made of renewable materials and recyclable in existing recycling streams throughout Europe. Beck’s automated packing machine ensures that products of different sizes are packed according to their requirements. The machine measures the packed goods and calculates the paper needed, reducing excess usage of the material and thereby minimising waste and costs. Stable sealing of Mondi’s paper on all four sides of the packaging ensures that it meets logistics requirements and protects goods in transit - as successfully proven during tests in Mondi’s ISTA certified lab in its Bupak plant.
Transcendia is excited to announce it is breaking ground on a 52,000 square foot manufacturing expansion at its Hebron, OH location as part of its ongoing commitment to investing in barrier film technologies. The new building will be equipped with additional multilayer blown and cast film lines, specialty converting equipment and a new testing lab dedicated to supporting new barrier applications in the food, pharmaceutical and industrial film markets. Upon completion, the Hebron, OH facility, with its ISO 9001:2015 certified quality systems, SQF certification and class 7 clean room capabilities, will have a total footprint of 84,000 square feet. The new building will complement existing barrier extrusion capabilities, including Transcendia’s most recent seven-layer blown film asset capable of producing films up to 78” wide with thicknesses between 1.0 – 10.0 mil. In addition to multiple asset investments, Transcendia will be adding to its application and process engineering team to provide additional technology resources for customers’ new application development. To support the expansion and 24/7 operation, Transcendia will hire approximately 36 new associates including machine operators, material handlers, maintenance technicians and supervisors.
Tosaf, Inc., a leading global developer and manufacturer of additives, compounds, and color and white masterbatches for the plastics industry, today announced the completion of additional capital investments in its Bessemer City, N.C. plant. The latest commitment of $2 million for a silo system and additional extruders brings the company’s total investment in the facility to more than $20 million. The silos were installed to take advantage of a rail spur that serves the plant. Built in 2016, the facility was designed to accommodate the silo system retrofit, a major part of the enhancements that advance its efficiency and cost-effectiveness. “We now have the needed infrastructure to receive raw materials via rail, which reduces labor and packaging required in our manufacturing processes,” said Tosaf General Manager Chai Tsadaka. “The silos and enhanced production capabilities allow us to better meet short lead times for our rapidly growing customer base. Unlike others, we provide a seven working day or less production order response time.”
Inspired by the Venus Flytrap plant, design students from Brobygrafiska claimed this year’s Gold Award in the Swedish leg of PIDA (Packaging Impact Design Award) with their inventive packaging solution for a set of drink mixer flavours called “Bite Botanical Bitters”. The team, comprising Herman Rydholm, Sofi Hansson and Julia Abrahamsson, impressed the jury with their deft use of “shape and colour that really catches our attention.” “We’re in shock!” says Herman Rydholm. “Very surprising. Actually, we started out with an idea of a pyramid shape, but it lacked colour so we thought we had to change. We happened to think of the Venus Flytrap and that was it. We got both colour and shape.” At PIDA, design students from universities and colleges from seven countries compete with their creative packaging designs. The competition is divided into five separate events: the USA, Sweden, France/Belgium, the UK, China, and Germany/Austria. The winners of the Gold Award at each event will meet in a Grand Finale at Luxe Pack Monaco in October.
Mondi, a global leader in packaging and paper, is presenting its broad portfolio of sustainable packaging solutions at this month’s Interzoo and demonstrating how flexible packaging can drive sustainability in the pet food industry. Packaging for pet food and pet care needs to be both protective and sustainable - the food contents need to remain fresh and intact but the top priority for eight of ten pet owners is packaging that is sustainable, according to a recent Mondi Dow Premium pet packaging survey. Shoppers worldwide are shifting towards mindful consumption and actively choosing brands that reduce their impact on the environment, particularly in light of the rise in eCommerce. Mondi’s expertise helps pet food manufacturers all over the world respond to this, through its EcoSolutions approach. Working closely with customers means the best possible solution can be created. Those solutions use paper where possible and plastic when useful - and help consumers contribute to a better world once pets have been fed.
Smurfit Kappa has developed an innovative and sustainable water-resistant paper. AquaStop™ is part of Smurfit Kappa’s new TechniPaper® portfolio, which consists of an array of high-performance papers designed to handle even the most complex supply chains. The AquaStop™ paper is water-resistant thanks to a special coating which is added to it during the manufacturing process. Unlike many other coatings, this does not compromise the recyclability of the product and can be recycled in the same way as standard paper-based packaging. AquaStop™ is the latest innovation in Smurfit Kappa’s Better Planet Packaging portfolio of products, which offer sustainable alternatives to single-use plastics. As it is designed to withstand exposure to water without being damaged, it is suitable for eCommerce packaging and packaging for products such as flowers, detergent and fruit and vegetables where temporary protection against water is needed.
Koehler Paper’s colorful recycling papers make boxes and filling materials from PresentFill® an environmentally friendly packaging alternative. From packaging materials to gift packaging, a wide selection of products are produced using premium recycling papers from Koehler Paper. The papers, made from 100% secondary fiber material, not only boast the “Blue Angel” and EU ecolabels, but also stand out thanks to their quality, natural feel, and vibrant colors. The market and consumers are increasingly looking for sustainable packaging solutions and PresentFill® is facing ever more intense competition in the area of sustainable packaging solutions papers. In light of this, the product range has continued to grow in recent years in order to meet the demand for more sustainable alternatives.
With more restaurants seeking carryout and delivery options, Eco-Products® is introducing a new compostable wrap that is ideal for swaddling sandwiches, snacks and more. The new wrap is made from wax paper, is ASTM D6868 compliant and is certified by the Biodegradable Products Institute (BPI) as compostable in commercial facilities. It conveniently works as a basket liner, food wrap or as a scale or pick-up sheet. Jointly developed with Eco-Products’ parent company, Novolex®, the new wrap offers a number of benefits: *Works with both hot and cold snacks and sandwiches *Made from renewable resources *Grease- and moisture-resistant *ASTM D6868 compliant and BPI-certified compostable in commercial compost facilities only *Features print on the wrap that includes the Eco-Products and BPI logos, assuring customers that the product is made from sustainable materials and can be to put into the compost bin after use.
Sonoco announced favorable results from a recent study by trial with Sustana in collaboration with Kellogg’s, providing new opportunities to recycle paper containers. “Part of creating packaging that’s a sustainability success involves making sure its materials are made and sourced responsibly. Sonoco’s paper containers are made with 100% recycled fiber paperboard, of which 85% is post-consumer recycled content,” said Michael Pratt, Senior Sustainability Specialist at Sonoco. Through three third-party sortation trials, Sonoco confirmed that paper containers with steel bottoms can be recycled in the steel stream. The next step was to further increase the recyclability of paper containers in the paper stream. There was already proven success in producing 100% recycled paperboard with up to 85% post-consumer fiber from bales of mixed paper at all Sonoco U.S. paper mills, but it was still unknown if paper containers could be recycled further.
Mondi, a global leader in sustainable packaging and paper, has enhanced its Product Impact Assessment (PIA) tool with new environmental key performance indicators (KPIs). The Group’s broad range of life cycle assessment tools are designed to provide science-based, tailored information to customers about the environmental impacts of paper- and plastic-based products for better decision-making. The Group’s PIA tool initially focused on carbon and water scarcity but now has additional KPIs to address further key aspects in the sustainable design of products, such as: ‘Designed for recycling’; ‘Recycling rates in region’; ‘Share of plastics (PO) content’; ‘Share of renewable content’; ‘Share of recycled content’; and ‘Certified for composting’.
The packaging design team of Metsä Board, part of Metsä Group, was involved in designing a spectacular packaging for a non-alcoholic sparkling beverage. In addition to protecting the bottle, the packaging also forms a beautiful entity with the bottle. The design of both the bottle and the packaging is based on a painting by six-time world boxing champion and artist Eva Wahlström. For every product sold, 50 cents will be donated to the Finnish Cancer Foundation. "We wanted to bring consumers a product that visually transcends the everyday. The drink gets its flavour from the rose petals, which are also displayed in a striking way on the bottle and packaging," says Kimmo Koivikko of Lasso Drinks, which produced the drink. "The packaging is open on both the front and the back, forming a frame around the bottle. This also minimises the amount of material needed for the packaging. The product story was printed on the packaging in Finnish and English," says Ilkka Harju, Packaging Services Director, EMEA and APAC, at Metsä Board.
Stora Enso has divested its three corrugated packaging plants in Russia. The Company’s Lukhovitsy, Arzamas and Balabanovo packaging plants have been divested to local management. Stora Enso’s assessment is that due to the uncertainties in the Russian market, local ownership and operation will provide a more sustainable long-term solution for these businesses and their respective employees. The transaction will have no material impact on Stora Enso’s annual sales and Operational EBIT. Due to reduced business prospects for these businesses, an impairment loss of EUR 35 million was recorded in the first quarter result. The additional loss on the transaction under IFRS will be approximately EUR 55 million, consisting mainly of currency translation adjustments to be recorded at the closing date. The expenses are considered as items affecting comparability. The divested sites are located in Lukhovitsy, Arzamas and Balabanovo employing approximately 620 people and have a total annual capacity of 395 million m² of corrugated packaging.
Intertape Polymer Group Inc. is pleased to announce that the Superior Court of Québec has issued a final order approving the previously announced acquisition of the Company by an affiliate of Clearlake Capital Group, L.P. by way of a plan of arrangement in accordance with Section 192 of the Canada Business Corporations Act. Pursuant to the terms of the Arrangement, the Purchaser will acquire all of the outstanding shares of the Company for a consideration per share of CDN$40.50 in cash. Subject to the satisfaction or waiver of the remaining conditions to closing contained in the Arrangement agreement with the Purchaser, the Arrangement is expected to close early in the third quarter of 2022.
Pregis recently started production at its new 298,000 square foot manufacturing facility in Reno, Nevada. The facility is producing the Pregis EverTec™ cushioned mailer, a durable, lightweight, curbside recyclable, paper cushioned shipping solution. Since acquiring the technology to manufacture the envirotech shipping solution in 2020, Pregis has scaled the production and full-color digital printing of the curbside recyclable product to meet consumer demand, and it continues to add sites to serve strategic geographic markets in this rapidly growing e-commerce packaging market. The Reno plant is the newest facility to add production capacity of EverTec in addition to recently opened facilities in Arlington, Texas; Bethel, Pennsylvania; McDonough, Georgia; and the expansion of the founding Elk Grove Village, Illinois location.
It’s a Wild Life! That’s the brief for PIDA 2022 – packaging design inspired by nature. Some 350 design students from seven countries will participate, showing packaging design projects with a personal and innovative interpretation of the brief. PIDA aims to highlight young talents and their ideas – but also to push the development of packaging design even further. This is how BillerudKorsnäs challenges convention for a sustainable future: by meeting the packaging designers of tomorrow. During May and June, BillerudKorsnäs will host the competition at five local events, and in October an international winner will be selected in a Grand Finale at Luxe Pack Monaco. PIDA 2022 will be a digital event, which enables a larger audience to be part of the exciting events. Representatives of the press are welcome to attend PIDA. Please find the dates for the different events below and register here - https://www.billerudkorsnas.com/pida/guest-registration.
Q1 2022 Highlights (comparative figures have been restated to reflect discontinued operations1) *Sales of $1,038 million (compared with $1,028 million in Q4 2021 and $942 million in Q1 2021) As reported (including specific items) *Operating income (loss) of $(4) million (compared with $(90) million in Q4 2021 and $44 million in Q1 2021) *Operating income (loss) before depreciation and amortization (OIBD) of $56 million (compared with $(30) million in Q4 2021 and $109 million in Q1 2021) *Net loss per common share of $(0.15) (compared with net earnings per common share of $1.04 in Q4 2021 and net earnings per common share of $0.22 in Q1 2021)
Ox Industries acquires a 150,000 square foot facility in Hanover, PA to expand its converting capacity in the Mid-Atlantic Region. The facility will house next-generation equipment and manufacturing practices and expand just in time stocking products and services. “We are excited to expand our Hanover location and to continue to invest in the community where we originally started OX. This is part of a $15 million investment in Hanover that will vertically integrate with our 100% recycled paperboard mills and create 50 new green-collar jobs,” said CEO Kevin Hayward.
Aptar CSP Technologies, part of AptarGroup, Inc. and a leader in active material science solutions to ensure product protection, extend shelf life and improve patient experience, announces a new manufacturing site able to produce its Activ-Blister™ Solutions for oral slide dose drugs in Europe. The move is part of a key strategic effort to expand production of Activ-Blister™ technology globally and is the result of a 3-way collaboration between Aptar CSP, Uhlmann (a leading pharmaceutical packaging equipment manufacturer), and Ivers-Lee, www.iverslee.com, (a local contract manufacturing organization). This collaboration consists of a fully automated Uhlmann blister machine validated to package oral solid dose drug products with Activ-Blister™ Solutions heat-staked to the foil at a rate of up to 250 blisters per minute (Figure 1). The equipment is designed to integrate Activ-Blister™ technology into the blister cavity with precision placement (Figure 2). The equipment has been fully-validated and is in place at Ivers-Lee, a CMO capable of manufacturing Activ-Blister™ solutions from R&D to commercialization. A CMO in EMEA will support regional customers and ensure speed-to-market.
Brook + Whittle, a leading provider of pressure sensitive labels, shrink sleeves and flexible packaging, has acquired Diamond Flexible Packaging in Northbrook, IL. Diamond is a third generation, family-owned business with over 90 years of experience producing high quality flexible packaging solutions. Diamond is a premier flexible packaging and converting company, providing custom printed bags and pouches for a wide variety of end markets including Food, Cosmetics, Nutritional, Beverage and Healthcare. They have built a strong reputation for supplying customized, high-performance products that meet and exceed customer expectations.
First Quarter 2022 Highlights (as compared to first quarter 2021): • Revenue increased 17.6% to $406.4 million primarily due to the impact of higher selling prices in tape, film, woven, and protective packaging products driven by increases in the cost of many raw materials and freight. • Gross margin decreased to 21.0% from 23.9% primarily due to the unfavourable mathematical impact of Dollar Spread Maintenance(1) and increased plant operating costs. • Net earnings attributable to the Company shareholders ("IPG Net Earnings") decreased $75.7 million to a net loss ("IPG Net Loss") of $56.7 million ($0.96 basic and diluted loss per share) primarily due to charges related to the Arrangement(2) for contingent consulting fees payable upon completion as well as a significant increase in the fair value of share-based compensation awards in selling, general and administrative expenses ("SG&A"). • Cash flows used for operating activities increased $26.9 million to $55.8 million primarily due to a greater decrease in accounts payable, partially offset by a decrease in accounts receivable and non-recurrence of share-based compensation settlements in the first quarter of 2021 related to cash-settled awards.
Sonoco announced it will raise the price for all paperboard tubes and cores by a minimum o 6 percent, effective with shipments in the United States and Canada on or after June 10, 2022. “Ongoing market tightness and additional inflationary cost pressures from rising paperboard prices, our primary raw material, along with higher labor rates, make this increase necessary,” said Doug Schwartz, Division Vice President and General Manager, North America Tubes and Cores. “Despite these supply chain pressures, we remain committed to maintaining the quality and service that our customers are accustomed.”
First quarter 2022 net income from continuing operations was $16.5 million (0.49 per diluted share) compared to net income from continuing operations of $9.6 million ($0.29 per diluted share) in the first quarter of 2021. Net income from ongoing operations, which excludes special items, was $16.9 million ($0.50 per diluted share) in the first quarter of 2022 compared with $10.1 million ($0.30 per diluted share) in the first quarter of 2021. First Quarter Financial Results Highlights *Earnings before interest, taxes, depreciation and amortization ("EBITDA") from ongoing operations for Aluminum Extrusions of $23.9 million was $10.6 million higher than the first quarter of 2021 *EBITDA from ongoing operations for PE Films of $7.0 million was $0.2 million lower than the first quarter of 2021 *EBITDA from ongoing operations for Flexible Packaging Films of $5.0 million was $4.6 million lower than the first quarter of 2021
Mondi continues to make progress on its previously announced €125 million investment to expand and upgrade its Kuopio mill in Finland with expected start-up by the fourth quarter of 2023. This morning, regional and local officials joined Mondi’s Group CEO and other senior leaders at a ground-breaking ceremony to celebrate this major upgrade of the semi-chemical fluting mill. "Thanks to the best technology available, production capacity will increase by 55,000 tonnes per annum and product quality will be enhanced to better serve growing customer demand. The long-term sustainability of the mill will also be considerably improved, further consolidating its place in the community." Andrew King, Mondi Group CEO
Known for its role in developing technology that delivers more sustainable bottles, Amcor Rigid Packaging (ARP) is announcing ahead of National Packaging Design Day the creation and launch of PowerPostTM. By actively displacing the vacuum in the container after filling, PowerPost technology delivers a bottle nearly one-third lighter, with 30% energy reduction and 30% carbon savings over most 20 oz (600 ml) bottles available today. It also allows for up to 100% recycled material use and provides a superior consumer experience – no more spills from overflow when consumers first open their beverage. PowerPost is the most advanced lightweighting technology for hot-fill beverages on the market today. PowerPost builds on Amcor’s patented, vacuum-absorbing technology PowerStrap™. The PowerPost base has two key technologies: an invertible, central post that actively displaces vacuum, and PowerStrap, the flexible ring surrounding the post. After filling, the post is inverted to actively displace vacuum inside the container and, as the product cools down, the surrounding ring flexes to passively absorb any remaining vacuum.
Second Fiscal Quarter Highlights: Net sales of $3.8 billion, a 12% increase; Operating income of $341 million; Operating EBITDA of $555 million; Diluted earnings per share of $1.50; Adj. diluted earnings per share of $1.93; $350 million of share repurchases in 1H fiscal ‘22; Expect further opportunistic repurchases in 2H; Reaffirms fiscal 2022 adjusted earnings per share and free cash flow guidance
Berry Global Group, Inc. and Taco Bell are making strides toward a more circular approach to sustainable packaging with the launch of a new clear, all-plastic cup containing mechanically recycled post-consumer resin (PCR). The move represents progress by both organizations in meeting their publicly stated sustainability commitments: Taco Bell’s 2022 Commitments and Berry’s Impact 2025. Designed for circularity, the new, clear polypropylene (PP) cup will be testing in select Taco Bell U.S. restaurants in late 2022, with 30-ounce cups using 10% recycled, high-density polyethylene (HDPE). This conversion from Taco Bell’s virgin plastic cup and lid set will help divert waste from landfill and incineration while simultaneously improving its carbon footprint through the use of recycled plastic*.
*Record quarterly net sales of $5.4 billion increased 21.3% year-over-year *Net income of $40 million declined $73 million year-over-year, or 64.5%. Adjusted Net Income of $309 million increased $164 million year-over-year, growing 112.9% *Net income in the second quarter of fiscal 2022 was impacted by $363 million of pre-tax restructuring and other costs ($321 million of which was non-cash), or $1.04 per diluted share, primarily associated with the previously announced closure of the Panama City, Florida paper mill *Record second quarter Consolidated Adjusted EBITDA of $854 million increased 33.3% year-over-year *WestRock’s board of directors authorized an additional 25 million share repurchase program
Greif, Inc. announced that it is implementing a $50 per ton price increase for all grades of uncoated recycled paperboard (URB) and coated recycled paperboard (CRB). The recycled paperboard increase is effective with new orders and shipments on and after June 6, 2022. These price increases are in response to inflationary cost increases in transportation, energy, labor, chemicals, maintenance, and other raw materials and continued strong demand across the Greif paperboard and converting network.
The need for sustainably produced packaging materials that promote the circular economy is growing worldwide. Metsä Board, part of Metsä Group, is a leading European producer of fresh fibre paperboards and a forerunner in sustainability. The company's fresh fibre paperboards are resource-efficient and help reduce the carbon footprint of packaging throughout the value chain. Global demand for high-quality fresh fibre paperboards has grown by around 2–3% per year in recent years and is expected to continue to grow at least at the same rate in the future. According to its strategy, Metsä Board aims to grow in fibre-based packaging materials and renew its industrial operations. To support its customers' growth and strengthen its service capability, the company is exploring possibilities to increase its folding boxboard capacity in Finland or Sweden. The evaluation of options is expected to be completed by the end of 2022. Metsä Board's current annual paperboard capacity is approximately 2 million tonnes, of which 1.3 million tonnes is folding boxboard and 0.7 million tonnes white kraftliners. The company is Europe’s largest producer of folding boxboard and white kraftliners.
Highlights - Nine Months Ended March 31, 2022 • Net sales of $10,635 million, up 13%; • GAAP Net Income of $696 million, up 2%; GAAP earnings per share (EPS) of 45.6 cents per share, up 4%; • Increasing returns to shareholders: quarterly dividend increased to 12.0 cents per share; $600 million ofshare repurchases expected in fiscal 2022; RoAFE increased to 16%; and • Fiscal 2022 outlook for adjusted EPS growth raised to 9.5-11% on a comparable constant currency basis(previously 7-11%). Adjusted Free Cash Flow of approximately $1.1 billion.
Aptar CSP Technologies, will preview its first-ever active bottle featuring post-consumer recycled (PCR) content at VitaFoods Europe, Booth J60, May 10-12 in Geneva, Switzerland. The new PCR active bottles are now part of Aptar CSP Technologies’ Activ-Vial™ solutions portfolio. As with the rest of the active packaging portfolio, the company’s proprietary 3-Phase Activ-Polymer™ platform technology is fully integrated into the bottle to create a microclimate to protect against moisture and other environmental conditions. Unlike traditional packaging options, the technology co-molds highly-engineered active particles into the bottle, scavenging moisture before it reaches the contents inside. Incorporating PCR content into its Activ-Polymer™ solutions is a step toward materials circularity, as sustainability becomes increasingly important to brand owners and their customers in the probiotic and nutraceuticals space.
Smurfit Kappa UK Limited has announced the acquisition of Atlas Packaging. Atlas Packaging, based in Barnstaple, North Devon, is an independent corrugated packaging provider. The company is well invested with a strong market presence in the UK which allows them to meet the needs of and deliver value to its broad customer base. With a particularly strong presence in shelf ready packaging, gift boxing and the e-commerce sector, they offer an exciting and broad range of innovative products.
Sonoco announced it is implementing a $50 per ton price increase for all grades of uncoated recycled paperboard (URB) in the United States and Canada, effective with shipments beginning May 30, 2022. Sonoco said the price change reflects continued tight market conditions and inflationary pressures on manufacturing costs, including energy, freight, chemicals, packaging materials and labor. “Unfortunately, the conditions that challenged us in 2021 have not dissipated in 2022. We continue to be challenged by strong demand, increasing backlogs and inflating costs,” said Tim Davis, Division Vice President and General Manager, Paper – U.S. and Canada.
*Net sales of $1.4 billion, up 12% as reported; up 15% constant currency *Net earnings of $150 million, up 41%; EPS of $1.00, up 47% *Cash flow from operations of $48 million, down 39% *Accelerating growth investments, CapEx of $67 million, up 53%, in 2022
As a proud SPC member and SPC Impact event sponsor, Pregis is excited to share our top takeaways from the conference: A) The journey is long but achievable. All stakeholders at every stage of the value chain must collaborate together to drive systemic change. B) The evolving regulatory landscape presents a unique opportunity for packaging manufacturers. Eco-Modulation is one example driving material selection and product design. C) Recycling technology is an undeniable part of the solution. We must work diligently to improve both mechanical and chemical recycling processes.
The Huhtamaki Foundation inaugurated its first recycling plant in Khopoli, Maharashtra today to help drive circularity for packaging. The site – which is spread across 2,000 square meters – will recycle about 1,600 kilograms of post-consumer used flexible plastic waste per day from early May as the plant becomes fully operational. The Central Pollution Board of India (2012) estimates that India generates close to 26,000 tonnes of plastic waste a day and a little over 10,000 tonnes a day of plastic waste remains uncollected. The recycling plant was set up with an investment of INR 90 million as part of the Huhtamaki Foundation’s #CloseTheLoop initiative to tackle post-consumer waste to deliver a valuable secondary resource material. It will process post-consumer waste to create resin to produce refined compounds to be used for household products for consumers in India.
Neenah, Inc. announced a versatile paper-based medical packaging capable of withstanding all three widely used sterilization processes, including radiation, autoclave, and ethylene oxide. This innovative product allows customers to serve multiple markets and explore new opportunities by providing a unique alternative to polymer-based or kraft medical packaging traditionally used for nasal swabs, syringes, bandages, and other single-use applications. "By adding a radiation-resistant product to our medical packaging lineup, Neenah continues to lead the industry in offering the most advanced paper-based options available. We are thrilled to introduce a versatile paper-based medical packaging that is durable, dependable, and value-driven," says Valerie Henderson, Medical Packaging Product Marketing Manager, Neenah Industrial Solutions. Single-use medical devices are gaining popularity as they help lower costs, increase efficiency, and reduce the spread of infection. Gamma radiation is becoming a more commonly used form of sterilization technology for these devices as it quickly kills germs that can cause disease and neutralizes other harmful organisms. It is essential to the radiation sterilization process that the packaging has breathable barrier properties, excellent conformability, printability, and the ability to withstand radiation exposure to prevent risks to patients.
First Quarter 2022 Summary *Reported sales grew 9% and core sales (excluding currency effects and acquisitions) grew 13% with double-digit core growth in each segment *Pharma segment posted sales growth in all markets including the prescription drug division as demand for allergic rhinitis and asthma devices began to recover *Reported earnings per share of $0.93 compared to $1.24 in the prior year; prior year results included an effective tax rate of 17% and an unrealized gain of $17 million related to changes in the fair value of an equity investment
In March 2022, we received three recognitions for product innovations for their technical excellence, sustainability performance, and enhanced consumer experiences by DOW Packaging Innovation Awards 2021. Here is how we win to make a difference for our customers – where it matters. Our multiple award-winning Sundae cup and lid received the Diamond Finalist award at the Packaging Innovation Awards. Behind the success of this innovation is the fact that the fiber-based cup and lid are made from 100% renewable resources, with wood fibers from sustainably managed forests. They are recyclable and compostable. Moreover, this plant-based innovation provides the insulating effect needed from for ice cream packaging – also ensuring a great consumer experience. Our packaging innovation Nescafe Protect Proslim - the world’s first recyclable alu-foil free instant coffee stick received the Silver Winner Award at DOW Packaging Innovation Awards 2021. Nescafe Protect Proslim is designed to replace the aluminum instant coffee sticks with mixed polyolefin structure, making the packaging fully recyclable without compromising on product shelf-life. This product is a great example of helping our customers get ahead with sustainability without compromising on consumer preferences. We also received Silver for the Garnier Men Shampoo Color packaging innovation. We collaborated with our customer L’Oréal in India to develop this innovative product, which particularly helps enhance consumer experiences through its user-friendly design. The vast differences in the colorant and developer formulas mean that they have very different packaging needs. We successfully developed packaging that met the needs of both formulas of the color shampoo and can house the colorant and developer formula in the same sachet without them mixing until the time of use.
First Quarter Overview *Revenue growth of 33% to €3,024 million *EBITDA growth of 33% to €514 million with an EBITDA margin of 17% *Corrugated box growth of 3.6% *Significant, ongoing capital investment to support customer growth and security of supply *Sets a strong foundation for 2022
HIGHLIGHTS *First quarter net earnings (loss) attributable to International Paper of $360 million ($0.95 per diluted share) compared with $107 million ($0.28 per diluted share) in the fourth quarter of 2021 and $349 million ($0.88 per diluted share) in the first quarter of 2021. First quarter adjusted operating earnings* (non-GAAP) of $288 million ($0.76 per diluted share) compared with $301 million ($0.78 per diluted share) in the fourth quarter of 2021 and $198 million ($0.50 per diluted share) in the first quarter of 2021. *$40 million of earnings achieved from Building a Better IP initiatives *14% year-over-year revenue growth *First quarter cash provided by operations of $588 million *Share repurchases of $406 million *Actively pursuing strategic options, including a sale of equity investment in Ilim Group
January−March 2022 (compared to 1–3/2021) • Sales were EUR 582.0 million (493.7). • Comparable operating result was EUR 121.5 million (88.8), or 20.9% (18.0) of sales. Operating result was EUR 140.7 million (82.0). • Comparable earnings per share were EUR 0.26 (0.20), and earnings per share were EUR 0.31 (0.18). • Comparable return on capital employed was 21.1% (18.3). • Net cash flow from operations was EUR 92.6 million (16.8).
Sealed Air announced the introduction of prismiq™ - a digital packaging brand with a portfolio of solutions for design services, digital printing and smart packaging. “The future of digital packaging and graphics is here. prismiq™, powered by our state-of-the-art digital printing technology is creating game-changing value for customers, enabling touchless automation both in our facilities and our customers’ operations, and making sustainability for packaging real,” said Ted Doheny, President & CEO of SEE. The prismiq™ brand offers three solution categories: “With your smart phone, prismiq™ will allow you to see inside the package. Through the SEE™ Mark, multiple data signatures can be transmitted to your phone (QR, bar codes, RFID, recycling codes, date and time stamps, etc.) enhancing the human experience,” said Sergio Pupkin, Chief Growth & Strategy Officer at SEE.
Amcor Rigid Packaging (ARP) and Danone have launched a 100% recyclable bottle for the Villavicencio water brand, made exclusively for the Argentinean market. The new label-less bottle is made from 100% recycled content and has a reduced carbon footprint of 21% compared to the previous bottle. “As longtime partners, we are excited to support Danone’s mission to have a positive impact on the environment and our health,” said Juan Cazes, general manager of Amcor Rigid Packaging Argentina. “Over the last two years, we have worked closely to produce a bottle that fully represents the Villavicencio brand, keeping the same visual elements. We used top-quality materials, helping to ensure the safety of the container and the consumer in the process, while we manufacture a bottle that, with the help of the consumer, will become another bottle once recycled.” The Villavicencio bottle can be recycled over and over, helping to support a more circular economy. Like this new bottle, many of the containers ARP designs are made from polyethylene terephthalate (PET), which is easily recycled with mechanical or chemical recycling in most markets, even when that container uses a label. Removing the label, like in the Villavicencio design, provides a greater opportunity to increase yields of recycled PET resin.
Q1 2022 in brief: • Net sales increased 31% to EUR 1,050 million (EUR 802 million) • Comparable net sales growth was 19% at Group level and 19% in emerging markets • The impact of currency movements was EUR 35 million on the Group’s net sales and EUR 3 million on EBIT
Highlights *Record earnings per diluted share (EPS) of $0.76, an increase of 15% over the prior year quarter *Record adjusted EPS of $0.78 per diluted share *Raises full year 2022 adjusted EPS guidance *Achieved record revenue in each business segment *Achieved record segment income in Dispensing and Specialty Closures and Custom Containers *Increased cash dividend per share by 14.3% *Redeemed outstanding 4 3/4% Senior Notes due 2025
Pregis has invested in a new 1960 square meter (21,000 square foot) customer experience facility in Europe designed to provide a holistic solutions approach to protective packaging challenges and reduce costly waste incurred by damaged products. The new Pregis innovation headquarters, called the Pregis IQ, is located in Eindhoven, the Netherlands. It will open in April as a customer demonstration and training facility designed to optimize packaging methods.
Smurfit Kappa has introduced a cleverly engineered new packaging solution for detergent pods and capsules. The child-proof TopLock Box provides a safe, convenient and sustainable alternative to the traditional plastic box for laundry products. The patented TopLock Box features an ingenious opening mechanism making it a very attractive solution for companies seeking a sustainable alternative for their certified child-proof packaging solutions. The TopLock Box is a 100% plastic-free solution made entirely from FSC® certified paper-based packaging, which is renewable, recyclable and biodegradable. It has significant environmental benefits and offers a 40% carbon footprint reduction in comparison to the traditional rigid plastic alternatives.
Joining forces with leading beverage producers, Tetra Pak is launching tethered caps on carton packages. Marking a significant milestone in the company’s long-term work on design for recycling, five new tethered cap solutions are currently being introduced across Ireland, the Baltics , Spain and Germany in different product categories – a market first for these geographies. As part of a wider programme, this development paves the way for Europe-based customers to stay ahead of schedule and meet the Single Use Plastics (SUP) Directive coming into force by 2024. Julia Luscher, Vice President Marketing, Tetra Pak, comments: “We are delighted to be supplying a number of customers with tethered cap solutions, helping them to ‘walk the talk’ towards their sustainability ambitions. Understanding our customers’ needs and having collected consumer insights through multiple pieces of research across various markets, our new tethered caps have been designed to enhance convenience. For instance, they are easy to open and re-close for subsequent consumption, while featuring carefully sized diameters for smooth pouring and drinking.”
*Reported Earnings: For the first quarter 2022, net earnings attributable to the Company were $0.55 per share (diluted) compared to a loss of $0.62 per share in the first quarter of 2021. First quarter 2022 earnings before income taxes were $170 million, compared to a loss of $65 million in the prior year quarter. Both periods included items management considers not representative of ongoing operations and other adjustments. *Segment Operating Profit: Segment operating profit was $231 million compared to $175 million in the prior year quarter. Segment operating profit benefited from 6.4 percent higher sales volume and 3.7 percent higher production volume (in tons). Likewise, higher segment operating profit also reflected favorable net price, continued solid operating performance and benefits from O-I’s ongoing Margin Expansion initiatives. These benefits were slightly offset by higher logistics costs.
Q1 2022 Highlights *Net Sales were $2,245 million versus $1,649 million in the prior year quarter. *Net Organic Sales increased 3% versus the prior year quarter driven by increased demand for innovative fiber-based packaging solutions and expansion into new market segments and geographies. *Net Income was $107 million versus $54 million in the prior year quarter. *Integration of recently expanded European platform continued; on track to deliver $40 million of synergies over three years. *New K2 Coated Recycled Paperboard (CRB) machine in Kalamazoo, Michigan began operating and the ramp in production is meeting expectations; on track to achieve $50 million in incremental EBITDA in 2022 and $130 million in incremental EBITDA over three years. *Global liquidity was $1,078 million at quarter end.
Packaging Corporation of America reported first quarter 2022 net income of $254 million, or $2.70 per share, and net income of $256 million, or $2.72 per share, excluding special items. First quarter net sales were $2.1 billion in 2022 and $1.8 billion in 2021. Reported earnings in the first quarter of 2022 include special items primarily for certain costs at the Jackson, AL mill for paper-to-containerboard conversion related activities.
CANPACK S.A. continues its expansion and plans to install a state-of-the-art production line of aluminum beverage can bodies in Bydgoszcz, Poland. The expansion will allow the company to increase the current capacity of the Bydgoszcz facility by approximately 1 billion pieces per year. Production is expected to start in 2024. “We are excited to increase the capacity of our facility in Bydgoszcz and continue to offer our European customer base a wide range of aluminum packaging innovations, whilst strengthening CANPACK’s footprint in Central Europe.” – says Andre Balbi, Group Chief Operations Officer at CANPACK. Ultimately, the new expansion is aimed to strengthen CANPACK’s market leader position in the Poland beverage can market.
The consolidated sales of the Group rose to EUR 1,060.4 million and were thus EUR 419.1 million above the comparative figure for the previous year (Q1 2021: EUR 641.3 million). This growth is mainly due to acquisitions and the passing on of cost increases through higher prices. At EUR 111.1 million, the operating result was EUR 49.9 million higher than in the previous year (Q1 2021: EUR 61.2 million). The significant increase in the MM Board & Paper division contrasted with a stable development at MM Packaging. The Group's operating margin thus increased to 10.5% (Q1 2021: 9.6%).
First Quarter Highlights *First quarter 2022 net sales were a record $1.77 billion, compared with $1.35 billion in the same period in 2021. *First quarter 2022 GAAP earnings per diluted share were $1.17, compared with $0.71 in the same period in 2021. *Base net income attributable to Sonoco (base earnings) for the first quarter 2022 was a record $1.85 per diluted share, compared with $1.00 per diluted share in the same period of 2021. 2021 base results throughout the release have been revised to conform with the Company’s current Base Earnings definition which excludes amortization of acquisition intangibles. The Company recently provided updated first quarter guidance of $1.70 to $1.80 per diluted share. (See base earnings definition, explanation and reconciliation to GAAP earnings later in this release.) *Cash flow from operations was $1.1 million in the first quarter of 2022, compared to $138.7 million in the same period of 2021.
Amcor announced an investment to establish new thermoforming capabilities for medical packaging in its Sligo, Ireland, healthcare packaging facility. The multi-million-dollar investment will strengthen Amcor’s leadership in the growing industry for sterile packaging, offering customers in Europe and North America another site with comprehensive healthcare solutions. “The additional capabilities in our Sligo site allow us to provide customers with even more differentiated and efficient solutions to meet their healthcare packaging needs,” said Amcor’s Chief Commercial Officer Peter Konieczny. “With our global scale and innovation capabilities, Amcor is uniquely positioned to capture growing demand for both medical and pharmaceutical packaging products globally.”
Imaflex Inc. is pleased to announce that it has signed equipment purchase agreements over the past quarter for three new co-extrusion blown film lines ("extruders") to help meet heightening demand for its products. "In recent years Imaflex has seen consistent, profitable growth in its Canadian and U.S. operations," commented Mr. Joe Abbandonato, President and Chief Executive Officer of Imaflex. "During this time, we have been upgrading all major extrusion lines in order to meet heightening market demand for enhanced film quality, which permits our converting customers' equipment to run at ever increasing speeds. Simultaneously, and as forecasted, we successfully reached our goal of selling out the capacity of our higher margin 5-layer line. Demand has been so robust on the niche products we created for this line that we recently purchased three new co-extruders." They are expected to generate additional extrusion capacity of between 12 to 15 million pounds per year, depending on product mix. Once an extruder is installed and fully operational, it should be fully utilized within 18 months. Barring any supply chain challenges, the extruders are expected to arrive at varying intervals ending the second quarter of 2023.
Huhtamaki, a key global provider of sustainable packaging solutions, announces a first-to-market sustainable innovation for the global pharmaceutical and healthcare industry. Huhtamaki's Push Tab® blister lid is mono-material PET and free from aluminum. It is designed to meet the stringent safety requirements of highly regulated pharmaceutical and healthcare packaging and provides the industry with a more sustainable alternative to traditional push-through blister packaging. This game changing innovation will help deliver sustainable packaging solutions for the growing global healthcare industry, whilst importantly maintaining functionality and efficiency, as Push Tab® blister lid runs on existing blister packaging lines without compromising on speed. The Huhtamaki Push Tab® blister lid is made of mono-material PET (polyethylene terephthalate) which significantly improves recyclability of the packaging, whilst remaining compatible with existing high performance blister packaging lines, without needing modifications or extra investment. Huhtamaki and its partner – Klöckner Pentaplast – bring this first-to-market innovation to help the global healthcare and pharmaceutical sector meet their sustainability targets and achieve market growth at the same time. In 2021, European packaging sales in the healthcare category had an estimated value of EUR 1.4 billion, of which approximately 50% were in blister packaging.
20/20 Custom Molded Plastics, LLC, an Inteplast Group affiliate, has acquired the assets of Covington, GA - based Vantage Products Corporation and will expand its injection molding business there. Through this new facility, 100 employment opportunities are anticipated over the next two years. Vantage, founded in 1978, was a manufacturer of polypropylene funeral services merchandise. However, 20/20 is slated to offer a wider variety of custom molded products to its customer base via its increased capacity at the 100,000 square-foot plant which houses two 2,500-ton presses and a 300-ton press. Some products 20/20 already manufactures include pallets, carts, and pool panels.
Mondi is highlighting the need for innovative packaging solutions in the fresh food industry by introducing two new recyclable packaging products - a paper-based tray and a semi-rigid plastic tray - at Anuga FoodTec. When it comes to preventing food from spoiling, the packaging industry plays a key role. Mondi has developed two new solutions to protect fresh food contents at every stage of the manufacturing and logistics process, ensuring they last longer through clever design and the potential to apply MAP (modified atmosphere packaging) to extend the shelf-life. The packaging inhibits exposure to elements such as moisture, gases and grease, and actively encourages correct consumer use, through resealable functions. This aids convenience and ease of portion control while also reducing food waste.
Huhtamaki has decided to initiate the process to divest its operations in Russia. This follows an earlier decision to stop all investments in Russia at the outbreak of the invasion of Ukraine. Huhtamaki considers that the current evolution of the situation and the long-term outlook in Russia will prevent the realization of its growth strategy and long-term ambitions in the country. Huhtamaki will continue to prioritize investments that capture the significant growth opportunities in the rest of the world, in line with its global ambitions and 2030 Strategy. The safety and wellbeing of all our colleagues remain of paramount importance. Huhtamaki has four manufacturing units in Russia, employing approximately 700 people and has successfully supported global and local customers over the last 30 years. The net sales in Russia represent approximately 3% of the Group’s total net sales. Huhtamaki will explore the market for potential buyers and will maintain its operations during this transitional period, subject to supply chain availability, to meet its contractual and regulatory obligations and to safeguard employees and customers.
Apollo announced that funds managed by Apollo affiliates (the “Apollo Funds”) have completed the acquisition of a majority stake in Novolex Holdings LLC (“Novolex” or the “Company”), a leading global manufacturer of diverse and sustainable packaging products for the foodservice, delivery and carryout, food processor and industrial markets, from funds managed by Carlyle (NASDAQ: CG). Carlyle will retain a minority stake in the Company. The financing for the acquisition includes the largest-ever sustainability-linked loan issued to date. Additional financial terms of the transaction were not disclosed.
Mondi Paper Bags, part of Mondi Group, a leading global packaging and paper manufacturer, has acquired the paper bag converting lines from National Bag and Egypt Sack, two subsidiaries of Lafarge Cement Egypt, a major cement producer in the country. The acquired production lines will increase Mondi’s capacity by around 150-180 million bags annually and strengthen Mondi's position in the Egyptian paper bag market. Mondi Paper Bags already operates two plants in Egypt and with this acquisition will become a key supplier of paper bags to Lafarge Cement Egypt. "Lafarge Cement Egypt is part of leading global building material company Holcim Group who has been a key global customer of Mondi Paper Bags for years. We are excited to have signed a long-term supply agreement with Lafarge Cement Egypt and to servicing them locally in Egypt. The collaboration will offer Lafarge access to our latest innovations, industry expertise, strong plant network and customer service. Thanks to Mondi’s vertical integration, Lafarge will further benefit from our high quality Kraft paper." Claudio Fedalto, Chief Operating Officer of Mondi Paper Bags
Sonoco announced promotions among its senior operational leadership which are aligned with the Company’s strategy to simplify its operating structure to improve efficiency and effectiveness, according to Howard Coker, President and Chief Executive Officer. The appointments are effective immediately. Rodger Fuller has been named Chief Operating Officer, continuing to report to Coker. Sean Cairns has been named President of Sonoco’s Global Rigid Paper and Closures organization, including operations in Americas, Europe and Asia, reporting to Fuller. James Harrell has been named President of Global Industrial Paper Packaging, reporting to Fuller, and has responsibility for all of Sonoco’s Industrial businesses globally. Also reporting to Fuller is Russell Grissett, who will continue to lead Sonoco’s Global Flexible Packaging business as President and has more than 28 years of operating and commercial leadership with Sonoco’s Consumer businesses. Jeff Tomaszewski has been named President of Sonoco’s Diversified Businesses, reporting to Coker.
Amcor announced it is the first company to purchase certified circular polyethylene material using ExxonMobil’s Exxtend™ technology for advanced recycling. Amcor will leverage this new material across its global portfolio, providing customers in healthcare and food industries with more recycled content in a variety of solutions and applications. Increasing the use of advance recycling materials, such as circular polymers, is one way Amcor is meeting its sustainability pledge to develop all of its packaging to be recyclable or reusable by 2025. The use of these materials will significantly add to the 113,000 metric tons of recycled material Amcor used in its packaging in fiscal year 2021. The technology behind advance recycling materials allows plastic waste to be converted into brand new products that are no different in quality and performance from ones made with virgin raw materials, providing customers peace of mind and the benefit of increasing the use of recycled content in their packaging.
The Mayr-Melnhof Group (MM) has acquired 100% of the shares in Eson Pac, based in Veddige, Sweden, from the majority shareholder Nalka Invest AB and the minority shareholders from family and management. With a total turnover of around EUR 48 million, Eson Pac develops, produces and sells high-quality secondary packaging solutions for the pharmaceutical industry. The company has three production sites in Sweden and one in Denmark, focusing on folding boxes, leaflets and labels. Eson Pac currently employs around 300 people. "With this acquisition, we are strengthening our presence within the premium segment of the packaging division. The transaction ideally complements our current customer base and offers attractive new opportunities. In combination with our existing activities, we can offer our customers even more innovative and sustainable solutions. We are very confident that together with the highly qualified team from Eson Pac, we will successfully advance the joint growth course", commented MM CEO Peter Oswald.
Mondi has joined forces with French machine supplier Thimonnier to develop a recyclable packaging that reduces plastic waste. The companies have created a new packaging for liquid refills that is designed so that it can be entirely emptied. The berlingot sachet is made from a recyclable mono-material, coextruded polyethylene (PE). It not only weighs less but also reduces plastic usage by more than 75% compared to rigid plastic bottles. The refill solution can replace the current industry standard of multilayer PVC refill containers, which are effectively not recyclable. The unusual shape of the sachet is eye catching and differentiated. The durable and leak-proof solution allows consumers to smell the product inside, a particularly useful feature for the liquid soaps it is designed to protect. The lightweight material also makes it more convenient for customers, especially those who are buying in-store.
WestRock Company announced it will permanently cease operations at its mill in Panama City, Florida, by June 6, 2022. The mill produces containerboard, primarily heavyweight kraft, and fluff pulp, with a combined annual capacity of 645,000 tons. Select grades of containerboard currently produced at the mill will be manufactured at other WestRock facilities. “A decision to close a facility and impact the lives of our employees is never easy to make,” said David B. Sewell, chief executive officer at WestRock. “As we implement our plans to close the Panama City mill, we do so with great appreciation for the many contributions of the team there. We are committed to assisting our Panama City team with exploring roles at other WestRock locations and outplacement assistance.”
Anthony Pratt, Executive Global Chairman of Pratt Industries and Visy, often refers to Pratt’s material recovery programs and circular strategy as harvesting the urban forest. “Through our closed loop process,” says Pratt, “we harvest the urban forest to divert 3 million tons of paper, other recyclable materials and waste-to-clean energy materials from the landfill each year.” To better explain what it means to harvest the urban forest and why it is important for Pratt, our customers and their end-users, we spoke with two leaders and experts on sustainability, material recovery and recycling. Between Cathy Foley and Shawn State, there are 50 plus years of experience and accumulated knowledge on recycling and sustainable initiatives for the paper and packaging industry. Foley has served as the Executive Vice President, Industry Relations & Supply Chain for Pratt since 2016, but she previously spent more than 20 years at the American Forest and Paper Association, including as Group Vice President. She was also elected to serve as the Chairman of the Fibre Box Association from 2020-2021.
Aptar is strengthening its local roots in Oyonnax in the Auvergne-Rhône-Alpes region by investing 42 million euros in a new state-of-the-art prestige beauty site, which will be operational in spring 2023. With this innovative initiative, Aptar is consolidating legacy operations into a new and dynamic facility which further asserts its leadership as the driving force behind customizable luxury solutions, with more sustainable features, in France. “I am extremely proud to announce Aptar’s new center of excellence in Oyonnax, France which furthers our efforts to help our customers win in their marketplaces, especially in the prestige beauty market. The investments we are making in this new facility will strengthen our partnerships for many years to come. We remain committed to delivering on our promises to consumers and customers in the many markets we serve as we live up to our purpose of transforming ideas into solutions that improve everyday life,” said Stephan Tanda, President and CEO, Aptar.
Sun Chemical has collaborated with HP, Futamura and Mitsubishi Chemical to produce a compostable pack, which combines individual components (substrates, inks and adhesive) certified by leading testing organizations. The industrial compostable pouch comprised of Futamura’s certified home and industrially compostable cellulose film, NatureFlex™ 23NK, was printed on an HP Indigo 6K digital press and laminated using Sun Chemical’s solvent-free, industrially compostable adhesive SunLam SFC100+HAC306, and Mitsubishi Chemical’s BioPBSTM FD92PM sealant film converted by Baker Labels. The results obtained during the digital printing process, as well as the solvent-free lamination, provided comparable lamination and sealing performance to a conventional plastic-based pack.
Zume, the sustainability solutions company creating economically viable substitutes for single-use plastics, today announced it is furthering its partnership with Solenis, a leading global producer of specialty chemicals. Together, the companies are launching a comprehensive line of PFAS-free packaging to replace plastic and styrofoam with a sustainable alternative for food service applications. Popular for their grease- and water-resistant properties, PFAS (per- and polyfluoroalkyl substances) are widely used chemicals commonly found in food packaging. While molded fiber packaging can be composted, PFAS do not degrade naturally and can leach from containers and move through soils, contaminating drinking water sources and significantly damaging the sustainability and circularity profile of molded fibers. The joint partnership furthers efforts from Zume and Solenis to expand PFAS-free molded fiber solutions to replace entire categories of single-use plastic without harmful chemicals. Zume will provide its advanced molded fiber manufacturing capabilities and professional services, and Solenis will supply its unparalleled expertise in functional additives and surface coatings which increase the strength and functionality of Zume’s fiber recipes.
Viipurilainen Kotileipomo is a nearly 100-year-old company that produces pastries and artisan breads from local ingredients using traditional methods. When the bakery was looking for a new solution for its cake packaging, its key criteria were to reduce the environmental footprint of the packaging, and to make assembly quick and easy. Viipurilainen Kotileipomo and Metsä Board's packaging design team based at Metsä Board's Excellence Centre jointly developed a resource-efficient and 100% recyclable bakery packaging. The new eye-catching packaging reduces material requirements by 25%, and carbon dioxide emissions by 34% compared to the previous packaging. At the same time, the bakery was able to reduce its use of plastic by moving away from a PE-coated board. In addition to the environmental benefits, the design of the new bakery box makes it quicker and easier to assemble. "Packaging sustainability is important to us and our customers, and it's great to be able to spread the word about reducing plastic and promoting recycling. The whole product development process was carried out in a structured way at the Excellence Centre and the new stylish packaging was quickly brought to market," says Teppo Ylä-Hemmilä, Bread Artist and Innovation Director, Viipurilainen Kotileipomo.
When TymeFood needed higher-performance, more sustainable packaging for extending its reach out of London, it turned to Mondi, a global leader in packaging and paper. The solution, BCoolBox, is now keeping TYME Food’s weekday meals fresh as it delivers them to all corners of the UK. "TYME Food tested several multi-material options before turning to us. After analysing the conundrum with our customer-centric EcoSolutions approach, we proposed a trial of our new BCoolBox packaging system optimised for TYME Food’s needs. BCoolBox’s tough, lightweight corrugated sides and insulation panels keep contents well protected at under 7°C for a minimum of 24 hours during standard shipment. Its all-corrugated, mono-material construction simplifies the supply chain. It’s been great to be able to prove the effectiveness of this product." Nedim Nisic, eCommerce Manager, Mondi Corrugated Solutions. BCoolBox can be thrown into the paper sorting bin, unlike multi-material packaging where the UK does not have the necessary recycling infrastructure. With their core commitment to sustainability, this was a particular concern for TYME Food’s management. “We were looking for an insulation material that would maximise the possibility of it actually being recycled. Mondi’s perforated panel concept is very smart. Paper is a material that customers know how to recycle in the conventional infrastructure in the UK rather than requiring novel education or conditions to do so. So we invited Mondi to test their product for us.” said Joe Cooke, Creative Director, at TYME Food.
The design and decoration of beverage cans may appear, on the surface, to be a straightforward affair, but there is far more to achieving an outstanding result on shelf than simply choosing some pretty shapes and colors. There is also a psychological element to be considered, as design plays a major role in how consumers perceive and differentiate between dozens of packages on display. In addition to brand image, design helps distinguish a craft beer from an energy drink from a canned water or soda, and while this may not be something most consumers are aware of, the subconscious will certainly be taking note. Fortunately for beverage brands, the can is the perfect canvas for creativity to thrive. The metal substrate offers a near infinite number of shaping and sizing options, while decorative techniques have advanced significantly in recent years. A 360-degree brandable space is waiting for a striking and efficient design, ready to covey a brand’s image with a freedom that is simply not available with alternate substrates. The versatility of aluminum cans makes them an ideal choice for all drinks categories and audiences, and the format continues to increase in popularity as a packaging format around the world.
The Circular Plastics Taskforce (CPT) is pleased to announce the support received from the Ministry of Economy and Innovation (MEI), in the form of a financial contribution of over half a million dollars. This grant marks the official start of Phase II of the project led by the CPT, which aims to optimize the management of plastics across the recycling value chain through a better alignment between material recovery facilities (MRFs), recyclers and the needs of the different end markets for post-consumer recycled plastic. The financial partnership with the MEI, made possible thanks to Éco Entreprises Québec’s involvement in financial support management, will allow the launch of the first pilot projects of Phase II, in addition to supporting the coordination of all planned activities. Launched in 2020, the CPT is a collaborative effort of organizations wishing to find concrete solutions to improve the management of post-consumer plastics. It brings together five major food, beverage and packaging companies in Canada (Cascades, Danone Canada, Dyne-a-pak, Keurig Dr Pepper Canada and TC Transcontinental), the Chemistry Industry Association of Canada (CIAC) and Éco Entreprises Québec (ÉEQ).
Greif, Inc. announced that it has completed its previously announced divestiture of the Flexible Packaging joint venture, or “FPS” for a total cash consideration of $123 million, subject to certain conditions and post-closing adjustments, to Gulf Refined Packaging. “Completion of the FPS divestiture and the exit of the joint venture relationship is an important step in advancing our Build to Last Strategy,” said Ole Rosgaard, Greif’s President and Chief Executive Officer. “I would like to thank our FPS colleagues for their hard work over the last 11 years and wish them the very best in the future.” Proceeds from the sale of FPS will be used toward debt repayment. The impact from this sale has been factored into Greif’s recently announced increased earnings guidance for Fiscal 2022.
Sonoco announced it has acquired the remaining one-third interest in Sonoco do Brasil Participacoes, Ltda, a Brazil-based flexible packaging joint venture, from private investors. Sonoco acquired its two-third interest in the joint venture in 2015 from Graffo Paranaense de Embalagens S/A, a closely held flexible packaging operation located in Pinhais, near Curitiba, Brazil. The joint venture had sales of approximately $34 million in 2021 and is a top-tier flexible packaging supplier to several global multinational consumer packaging goods companies serving confectionery, dairy, pharmaceutical and industrial markets in Brazil. The joint venture operates high-quality rotogravure printing and sophisticated lamination operations and is one of the largest converters of foil-based flexible packaging in Brazil.
Smurfit Kappa Group plc announces that it has decided to exit the Russian market. The Group has already suspended support for its Russian operations including any imports and exports and any short or long term funding. This exit will be effected in an orderly manner, during which we will continue to pay our employees and fulfil our legal obligations. Our Russian business represents less than 1% of forecasted sales Smurfit Kappa stands in solidarity with the people of Ukraine and everyone impacted by the totally unjustified attack on Ukraine and its people. The Group is providing, and will continue to provide, substantial humanitarian support for the Ukrainian people. We are also assisting the families of SKG employees and contractors from Ukraine as well as providing products and services to support the relief effort together with financial assistance to a number of aid agencies. We have also partnered with the Red Cross to provide funding to support their vital work.
Solenis, a leading global producer of specialty chemicals, is developing two new international centers of excellence for advancing sustainable solutions in the consumer paper packaging industry. The growing demand for environmentally sustainable packaging led by consumers, brands and regulators is creating unique opportunities for the paper packaging industry to deliver alternatives to single-use plastics. Solenis is at the forefront in developing PFAS-free barrier coatings to help replace plastics used in fast-food packaging, corrugated board, single-use cups and other food and beverage packaging elements. The company also provides other key products, such as strength additives for paper and board packaging.
Cosmo Films Limited, a Global Leader in Films for Packaging, Labelling, Lamination and Synthetic Paper and an emerging player in Specialty Chemicals, Polymers & Pet care today announced expansion by setting up CPP film production line at Aurangabad with annual rated capacity of 25,000 MT. The CPP line will require investment of about Rs. 140 crores to be funded through internal accruals and debts and is expected to commence commercial production in 2 years. Commenting on CPP line project Mr. Pankaj Poddar, Group CEO, Cosmo Films Ltd said, “Worldwide significant focus is being given on recyclability & sustainability of packaging films. Monolayer structure of CPP and BOPP is most preferred structure to address sustainability requirements."
Leading global provider of fiber-based consumer packaging, Graphic Packaging International ('Graphic Packaging') is helping grocer New Seasons Market to build on its commitment to the highest levels of environmental stewardship. The company's PaperSeal® tray product – which was developed in partnership with world leader in tray sealing technology, G. Mondini – has been selected as a winning solution by New Seasons Market to replace the plastic clamshells currently used on the grocer's Partner Brand Fresh Pasta. The new PaperSeal tray-packed pasta will appear in stores beginning this April and will enable New Seasons Market to eliminate 120,000 plastic packs from entering waste streams each year.
To help its non-food customers increase the sustainability of their packaging, Berry is now able to offer several of its existing and most popular industrial packaging ranges in versions containing 50% post-consumer recycled (PCR) material as standard. The use of 50% PCR applies to the following Berry product ranges: SuperCube® Rectangular and Square, SuperLift®, SuperLift® Extra, SuperFlex®, PS Range, EuroFlex, Hobbock and Paintainer®. All of them are robust, space-saving, and user-friendly packaging solutions for non-food products for business-to-business use, as well as for consumers. Importantly the containers also offer a mono-material solution, as they are made solely of PP.
Sonoco announced that Ernest Haynes has been appointed to the role of President of Sonoco Metal Packaging, one of the leading manufacturers of sustainable metal packaging for food and household products and the largest aerosol can producer in North America. In this new role, Haynes will lead Sonoco’s newly acquired Metal Packaging business, reporting directly to Howard Coker, Sonoco President and CEO. Haynes will replace Jim Peterson who will be transitioning from the business after more than 15 years of leadership. Haynes will work closely with the Metal Packaging team to continue delivering best-in-class solutions for customers and with the integration team to ensure the business achieves its financial and operational goals.
ePac Lyon is pleased to announce that its Lyon site has obtained BRC (Global Standard for Packaging Materials) certification. The Auvergne-Rhône-Alpes site received an AA rating following an in-depth audit carried out in early January and is now ready to serve customers who require BRC compliance. “Achieving BRC certification validates the quality of our business, and of course, we are delighted to have passed the inspection and received the full score from the auditors,” says Jonathan Schmitt, Managing Director, and Partner at ePac Lyon. “Since the beginning, we have had a very good quality system. Today, we have official approval to support it,” adds Julie Verney, Quality Manager.
Smurfit Kappa’s eFlower portfolio is helping customers to capitalise on the growth in demand for eCommerce flower orders which emerged during the pandemic. The customisable portfolio includes nine sustainable packaging solutions ideal for shipping bouquets and potted plants. One of the eFlower portfolio’s stand-out products is the WOW Bloom Box which creates a positive unboxing experience, alongside increased brand perception, making it the perfect eCommerce solution for online flower gifts. The Letterboxable is, as the name suggests, a flower box that is slender enough to go through the letterbox. This, like the entire range of solutions, supports fast product delivery through increased packing efficiency whether the process is handled internally or outsourced to a third party.
Huhtamaki has strengthened its manufacturing capacity for smooth-molded fiber packaging. Smooth molded fiber is a revolutionary and technologically advanced material that can be used to make very demanding food packaging and to replace hard plastic. Huhtamaki's production plant in Alf, Germany, is moving from the production of plastic products to the production of smooth-molded fiber products to meet the growing demand for plastic-free food packaging. In 2022, the Alpine unit plans to replace more than 2,000 tonnes of plastic with fiber. This modern, automated production unit will be able to produce up to 3.5 billion fiber products annually in the future. Alf's unit will be the first such large-scale plant in Europe with production capacity.
ePac Flexible Packaging is pleased to announce its third European facility, ePac Poland North, located near the cities of Poznan and Bydgoszcz. This expands ePac’s network of sales and production operations across the Continent, builds on the successful launch of European sites in the UK (Silverstone) and France (Lyon), and further signals the company’s intent to become the supplier of choice in local markets throughout Europe. ePac Poland North is a partnership between ePac and mFlex, and will operate from mFlex’s production facility, an established flexible packaging facility that already uses digital printing. The company will be led by Managing Partners Jacek Ciosek and Marcin Kowalski; both seasoned executives in flexible packaging who will manage ePac’s operations and customer relationships.
Mondi is investing €280 million in Corrugated Packaging operations across four countries to boost production and to serve customers more efficiently. This includes around €185 million across its central and eastern European Corrugated Solutions plant network and €95 million at Mondi Świecie’s containerboard mill in Poland - demonstrating Mondi’s commitment to its customers, its people, and to responsible and sustainable production. These investments together represent an important part of Mondi’s announced €1 billion in expansionary capital investment projects this year to accelerate growth in sustainable packaging. Some highlights of the investment programme: *The upgrade of Mondi Świecie’s containerboard mill, comprising an extensive rebuild of paper machines PM2 and PM5, a new anaerobic treatment plant including an integrated cooling system, and upgrades to the pulp mill, the recycled fibre line and the energy recovery system. These improvements will allow the mill to meet growing customer demand for heavy-duty applications, enhance product quality, and bolster its environmental performance by decreasing water consumption and wastewater emissions and increasing energy efficiency. *The plant at Mondi Warsaw more than doubling in size and capacity, and receiving new machinery and automation, including a corrugator of an industry-leading 3.35 meters in width. *Expanded corrugated solutions production for the eCommerce market, with modernisation and improvements across eight sites located in Poland (Simet, Świecie, Warsaw, Dorohusk, Szczecin, Bystrzyca), Germany (Eschenbach), and the Czech Republic (Bupak), as well as a comprehensive upgrade of Mondi Simet to erect a warehouse for finished goods storage and to automate internal material flows.
A new report from Finland’s Technical Research Center (VTT), “Recycling Food Packaging”, highlights those technology solutions expected to become commercially available in the next five years and says partnerships are essential to deliver the necessary technological innovations in food packaging recycling. VTT’s team examined current and near-future recycling systems for plastic and fiber packaging and found that alliances between brand owners, recycling and sorting technology developers, and waste management companies are fundamental to the development of recycling solutions. Such partnerships are essential for future investment in new recycling technology as they provide, on one hand, accessibility to used material, and on the other hand, a potential user for the recyclate. Commissioned by Huhtamaki the global sustainable packaging solutions provider, the report aims to identify and increase understanding of the key drivers required to deliver a functioning circular economy, in which importantly packaging is not only recyclable, but recycled. “The study predicts a significant increase in industrial chemical recycling capacity in the United States, Europe and East Asia in the next 3–4 years. Chemically recycled polymers can be included in food packaging after full depolymerization, whilst in practice today, recycled polymers certified as food contact material are mainly limited to rPET, used mostly in bottles”, says Mona Arnold, principal scientist at VTT.
As part of our commitment to operating as a sustainable Company, we are proud of our latest recognition with a Zero Waste Certificate Initiative awarded by the Turkish government to our beverage can operations in Izmit and Osmaniye. The award is part of Turkey’s Zero Waste Policy, an action plan initiated in 2017 by local authorities, with the primary goal of collecting and separating all waste and increasing recycling rates, both in industrial and consumer environments across the country. With the active engagement of our employees, the two plants implemented a series of measures that yielded powerful results: Re-using wastewater through the installation of a reverse osmosis system; Reducing hazardous waste by 80%; Reducing chemical usage by 60% and where possible, implementing recycling and decreasing waste incineration; Reducing greenhouse gas (GHG) emission rates by more than 10% through increased energy-saving activities; Reducing GHGs emitted during the transportation of hazardous chemicals and waste by 90%; Reducing waste deposited in landfills by 95%.
Sonoco has issued its 2021 Annual Report to Shareholders and announced the date for its 2022 Annual General Meeting. The annual report, entitled Better Than Ever details the Company’s 2021 financial results, its strategy and the complementary $1.35 billion acquisition of Ball Metalpack, a leading manufacturer of sustainable tin-plate food and aerosol containers, along with closures and packaging components. “Sonoco’s purpose is Better Packaging. Better Life. This means we are committed to creating sustainable packaging solutions that help build our customers brands, enhance the quality of their products and improve the quality of life for our stakeholders around the world,” Howard Coker, Sonoco President and Chief Executive Officer, wrote to shareholders. “We also believe our value-creation strategy – to be the benchmark company for yield and stability in the packaging industry – will make Sonoco Better than Ever.”
As the war and humanitarian crisis from Russia’s invasion of Ukraine continue, it is important that we remain connected and well informed as a team. We are witnessing a tragic situation and our hearts go out to the people whose lives have been so terribly affected. We join the urgent call for a peaceful resolution to the conflict. At Amcor, we are guided by our values: • Our first focus is the safety of our people in Ukraine; • We recognize that our packaging products help people in communities everywhere with their daily necessities; • Our sense of obligation extends also to the multinational customers we partner with in Ukraine and Russia. Those considerations come together in how we work with our customers: they also take care of their own teams and rely on us to bring products to communities in need. Together we support the livelihoods of many thousands of people along complex supply chains. You will remember we proactively closed our site in Kharkiv, Ukraine, to protect our local team right before the armed conflict started. Our dedicated crisis team continues to monitor developments in real time and assist our people. We are deeply concerned about the humanitarian crisis in Ukraine and are actively contributing to the relief efforts. Amcor is committing at least USD1 million for direct support to our team in Kharkiv and their families as well as general humanitarian aid, in partnership with the International Red Cross. This includes a matching contributions program open to all Amcor colleagues around the world. Let’s please keep up the support and a big thank you for all the generous contributions so many of you already made.
Georgia-Pacific has announced that it plans to close the Green Bay Day Street facility over the next 18 months. This decision does not affect Georgia-Pacific's other operations in Green Bay. The decision to shut down the mill does not reflect the hard work that Day Street employees have performed throughout the years to serve Georgia-Pacific's customers. They have done an admirable job operating these lines as safely and productively as possible. The primary reasons for this decision are a combination of changing customer demand, bath tissue upgrades and investments at other Georgia-Pacific facilities, and less competitive assets at the Day Street mill. Tissue manufacturing at the site will end in mid-May, with some other parts of the mill shutting down in September. The Day Street mill will continue to make napkins until the Fall of 2023.
The PM10 at Laakirchen Papier AG, part of the Heinzel Group, Austria, that was rebuilt by ANDRITZ has become the world’s fastest converted containerboard production machine with speeds of up to 1,420 m/min at a basis weight ranging from 80 to 140 g/m². Over the last few years, ANDRITZ converted the PM10 from production of SC paper to a fluting and testliner machine. The scope of supply comprised the stock preparation section, a comprehensive rebuild of the paper machine, and the complete automation. Jan Reibert, Production Manager PM10 of Laakirchen Papier, explains: “Per today, PM10 produces lightweight containerboard here in Laakirchen at record speeds. And we have an ace up in our sleeve: there is still potential for further increases in performance. The next step is the upgrade by ANDRITZ of the ropeless tail threading system in the double-tier part of the after-dryer section to reduce threading time when compared to the market standard.”
WestRock Company, a global manufacturer of differentiated paper and packaging solutions, broke ground yesterday on a 285,000 square foot expansion at its consumer packaging facility in Claremont. The $47 million investment was bolstered by a performance-based grant from the One North Carolina Fund and is expected to create 50 new jobs by the end of next year. During yesterday’s groundbreaking ceremony, WestRock project manager and Catawba County native Jason Smitherman remarked, “WestRock has operated on these grounds for 25 years, and this investment ensures we will be here for many more to come. This project would not have been possible without the commitment to and belief in WestRock by the City of Claremont, Catawba County, and the state of North Carolina.” The expanded facility and its employees will support WestRock’s production of sustainable, fiber-based packaging for some of the world’s leading food, food service and beverage brands.
Established in 2016, and just 6 years old, ePac Flexible Packaging is doubling down on the aggressive growth strategy it has deployed since the company’s creation. ePac will continue to focus on helping small and medium brands achieve big brand presence, recognizing the importance of this sector in driving economic growth in all corners of the globe. 2021 was a strong year for the company, again seeing sales growth in excess of 50% YoY, and an increase in production capacity of over 30%. In North America new plants were successfully opened in Portland, Toronto, and Kansas City, and internationally in the UK, France, Poland, and Australia. ePac now operates 17 plants in North America and 6 more in Europe and Asia Pacific. Looking forward into 2022-2023, ePac will continue expansion in North America, adding plants in the Northeast, Midwest, Southeast, Southwest, and a second location in the Mountain region. Additionally, print and pouch making capacity will be increased in existing ePac operations.
In summer 2021, Heidelberger Druckmaschinen AG (Heidelberg) launched the Generation 4 CutStar, the Speedmaster XL 106-D rotary die cutter, and a new Performance Package for in-mold label production on the Speedmaster XL 106. It is now further expanding this portfolio by entering into a worldwide distribution agreement with the Japanese company AN Corporation for the Kawahara TXS-1100 and Kawahara BMS-1100 automated postpress systems. This marks the global rollout of a pilot agreement concluded for the North America region last year. “Heidelberg is systematically investing in the growth markets of packaging and label printing. The distribution agreement for Kawahara blanking systems adds a further key production step in the workflow to the company’s label printing portfolio,” says Rainer Hundsdörfer, CEO of Heidelberg. “In this way, we are helping our customers further automate their processes and thus make them as efficient and cost-effective as possible,” he explains. As a result, Heidelberg now offers all the technology needed for a highly efficient workflow in industrial label production – from job creation, prepress, and plate imaging all the way through to printing, die cutting, and fully automatic blank stripping.
Total packaging papers & specialty packaging shipments in February decreased two percent compared to February 2021. They were down two percent when compared to the same two months of 2021. The operating rate was 86.8 percent, down 1.1 points from February 2021 and down 1.0 points year-to-date. Mill inventories at the end of February increased two thousand short tons from the previous month, and were down 11 thousand short tons compared to February 2021.
Just as direct-to-consumer delivery has grown in popularity, so has consumer demand for eco-friendly packaging and products has increased. Packaging components ranging from the actual container (ex. box) that the product is shipped in, to the outer package wrap and void fill each must be considered. If you are committed to sustainability but still use foam or plastic void fill, it is time to explore eco-friendly alternatives. Void fill (sometimes called “box filler”) exists to fill the empty spaces in your packaging and protect your product from too much movement during the shipping process. Customers are used to getting packages filled with styrofoam peanuts, plastic air pillows, plastic bubble wrap, and so on. However, many of these methods are reliant on unsustainable materials. Additionally, they may demand an avoidable amount of messy packing space or disregard the customer's unboxing experience.
The consolidated sales of the Group reached EUR 3,069.7 million and were thus 21.4% or EUR 541.3 million above the previous year’s figure (2020: EUR 2,528.4 million). This increase resulted primarily from the acquisition of the Board & Paper division. At EUR 269.6 million, the operating result was 16.5% or EUR 38.2 million higher than in the previous year (2020: EUR 231.4 million). Around 55% of this growth is attributable to MM Board & Paper and around 45% to MM Packaging. At EUR 244.5 million, earnings before taxes were 10.1% higher than in the previous year (2020: EUR 222.1 million). Income taxes amounted to EUR 53.8 million (2020: EUR 59.8 million), resulting in an effective Group tax rate of 22.0% (2020: 27.0%). The net profit for the year thus increased by 17.5% or EUR 28.5 million to EUR 190.7 million (2020: EUR 162.2 million).
Ahlstrom-Munksjö continues to expand in the packaging tape market by launching MasterTape™ Pack Green tape backing offering consisting of bio-based tape backings with greater sustainability attributes. MasterTape™ Pack Green is available in multiple variants and basis weights, including saturated tape backings, as well as saturated and release coated tape backings with different levels of releases that are compliant with various adhesive systems. The offering can also be fully customized based on customer requirements. MasterTape™ Pack Green offers an alternative to plastic tape solutions, and it is produced from responsibly sourced and renewable wood pulp, certified according to Forest Stewardship Council® standards. Aligned with Ahlstrom-Munksjö’s ‘from Plastic to Purpose’ campaign that aims to raise awareness about the possibilities of fiber-based solutions as a renewable option, its bio-based contents are above 85%, and it is repulpable and recyclable according to EN13430.
International Paper (NYSE: IP) announced its intention to explore strategic options, including the possible sale, of its 50% ownership interest in Ilim Group. International Paper has no intention to seek suspension of operations or initiate any liquidation or bankruptcy proceedings with respect to Ilim Group.
Fourth quarter 2021 net income from continuing operations was $21.4 million ($0.63 per diluted share) compared to $6.5 million ($0.19 per diluted share) in the fourth quarter of 2020. Net income from ongoing operations, which excludes special items, was $6.2 million ($0.18 per diluted share) in the fourth quarter of 2021 compared to $9.7 million ($0.29 per diluted share) in the fourth quarter of 2020. Full year 2021 net income from continuing operations was $57.9 million ($1.72 per diluted share) compared to net loss from continuing operations of $16.8 million ($0.51 per diluted share) in 2020. Net income from ongoing operations was $39.6 million ($1.18 per diluted share) in 2021 compared to $50.8 million ($1.51 per diluted share) in 2020. A reconciliation of net income (loss) from continuing operations, a financial measure calculated in accordance with U.S. generally accepted accounting principles (“GAAP”), to net income from ongoing operations, a non-GAAP financial measure, for the three months and year ended December 31, 2021 and 2020, is provided in Note (a) of the Notes to the Financial Tables in this press release.
Fourth Quarter 2021 Highlights (as compared to fourth quarter 2020): • Revenue increased 20.2% to $413.7 million primarily due to the impact of higher selling prices and an increase in volume/mix primarily driven by certain tapes and dispensing machines. • Gross margin decreased to 19.7% from 25.7% primarily due to the unfavourable mathematical impact of Dollar Spread Maintenance(2) and an increase in plant operating costs including costs associated with supply chain disruptions and labor shortages, partially offset by a favourable product mix. • Net earnings attributable to the Company's shareholders ("IPG Net Earnings") decreased $8.0 million to $9.1 million primarily due to an increase in finance costs mainly due to an increase in the NCI Put Options Revaluation(3) and a decrease in gross profit, partially offset by a decrease in SG&A. Fiscal Year 2021 Highlights (as compared to fiscal year 2020): • Revenue increased 26.3% to $1,531.5 million primarily due to the impact of higher selling prices in all product categories driven by significant increases in the cost of raw materials and freight as well as an increase in volume/mix. 1 • Gross margin decreased to 22.2% from 23.8% primarily due to the unfavourable mathematical impact of Dollar Spread Maintenance. • IPG Net Earnings decreased $4.9 million to $67.8 million primarily due to (i) an increase in finance costs mainly due to the 2018 Senior Unsecured Notes Redemption Charges(5), the non-recurrence of the Nortech Contingent Consideration Gain(6) and an increase in the NCI Put Options Revaluation, and (ii) an increase in SG&A, partially offset by an increase in gross profit.
Sonoco-Alcore S.a.r.l. announces that due to the continued escalation in the cost of European energy, it will raise prices by €100 (£85) / tonne on all recycled paperboard grades sold in the Company’s EMEA regions effective for all shipments made on or after the 14th March 2022. “We are continuing to see considerable price volatility in energy markets and across other cost areas of our business. These cost increases, in conjunction with disruptions to our supply chain, now mean that we have no choice but to react to the situation,” said Phil Wolley, Division Vice President – Paper Europe. “We will continue to monitor events as they develop and take actions necessary to maintain supplies to our customers. We cannot, however, rule out further increases or surcharges being required at this stage.” Sonoco Alcore S.a.r.l. is wholly owned by Sonoco (NYSE:SON) and operates 24 tube and core plants and five paperboard mills in Europe.
Intertape Polymer Group Inc. announced that it has entered into a definitive agreement to be acquired by an affiliate of Clearlake Capital Group, L.P. (together with certain of its affiliates, “Clearlake”). Under the terms of the agreement, Clearlake will acquire the outstanding shares of IPG for CDN$40.50 per share in an all-cash transaction valued at approximately US$2.6 billion, including net debt. This represents a premium of approximately 82% to the closing price of IPG common shares on the Toronto Stock Exchange on March 7, 2022 and approximately 66% to the volume weighted average trading price of IPG common shares on the Toronto Stock Exchange for the preceding 30 trading days. Upon completion of the transaction, IPG will become a privately held company. “We believe this transaction is a great next step in the evolution of our business as Clearlake has strong industry knowledge in the protective packaging and e-commerce ecosystems. Clearlake provides us the operational and financial resources to accelerate our acquisition strategy, as well as organic growth opportunities such as investing in product innovation, sustainability, and market expansion,” said Greg Yull, President and Chief Executive Officer of IPG. “We have built a scaled business serving a diverse set of growing end markets, and have seen particularly strong growth in our large e-commerce segment. Clearlake’s investment reflects its confidence in our people, processes, and strategy, and this transaction will advance our vision of becoming a global leader in packaging and protective solutions. We believe this all-cash transaction represents an attractive return and provides certainty for our shareholder base.”
MM supports its employees in Ukraine and their families with a comprehensive program in kind and financially. MM donates EUR 150,000 to Caritas, Red Cross and other humanitarian aid organizations in Ukraine. MM has stopped all carton deliveries to Russia. MM is Europe's leading producer of cardboard and folding boxes with an attractive range of Kraft Papers and Uncoated Fine Papers. The focus is on sustainable and innovative fiber-based packaging solutions. Including the most recent acquisitions, MM generates sales of around EUR 3.2 billion and employs around 12,500 people.
Silgan Holdings Inc. announced that its Board of Directors has authorized the Company to repurchase up to an aggregate of $300 million of its common stock through December 31, 2026. “This authorization replaces our prior similar authorization which had expired at the end of 2021 and will allow us to repurchase common stock from time to time through December 31, 2026,” said Adam Greenlee, President and CEO. “As in the past, we maintain a disciplined approach to capital deployment with a priority towards growth investments for the Company,” concluded Mr. Greenlee.
C-P Flexible Packaging announces the acquisition of privately held Bass Flexible Packaging, Inc. (Bass). With the addition of Bass, C-P expands into the highly attractive confectionary and health & beauty markets and adds state of the art short run and short lead time capabilities. C-P is a long-standing portfolio company of First Atlantic Capital, a New York based private equity firm. Terms of the transaction were not disclosed. Located in Lakeville, MN, Bass has developed a customer-centric service model supported by nimble assets and systems enabling the company to meet short lead times for a wide breadth of order quantities. Bass produces a variety of stand-up pouches, premade bags and shrink sleeves. This strategic investment complements C-P Flexible Packaging’s best-in-class converting capabilities. C-P Flexible Packaging’s North American footprint now consists of 11 locations with over 1,000 employees. According to C-P Flexible Packaging CEO Mike Hoffman, “The Shaffers have developed one of the most agile service models in the industry at Bass, with precision focus on the market’s need for short lead times and run lengths. Combining this unique strength with their high-growth end markets complements C-P’s strategic initiatives in these areas. We are excited to welcome the Bass family to our team!”
In alignment with its operational Impact 2025 sustainability goals, Berry Global Group, Inc. announced all of its Health, Hygiene, and Specialities Division facilities located in China as zero waste to landfill. These facilities join the Division’s global list of 12 facilities to receive the prestigious internal recognition. Berry encourages all sites to embark on a zero waste to landfill journey, defined internally as diverting over 90% of waste away from disposal, with less than 1% of waste being disposed via landfill. Announced in 2019, Berry set a goal to reduce landfill waste intensity by 5% per year. Just this year, Berry reduced the amount of waste disposed via landfill by over 2,000 metric tons, achieving a landfill waste intensity reduction of 12%, well above the year-over-year target of 5%; this also reflects a 9% reduction from 2019. Guided by the waste management hierarchy, Berry leverages continuous improvement to reduce waste generation and maximize the value recovered from any waste that is generated.
First Quarter Financial Highlights include: *Net income of $10.3 million or $0.18 per diluted Class A share decreased compared to net income of $23.4 million or $0.40 per diluted Class A share. Net income, excluding the impact of adjustments(1), of $75.6 million or $1.28 per diluted Class A share increased compared to net income, excluding the impact of adjustments, of $35.9 million or $0.61 per diluted Class A share. *Net cash provided by operating activities increased by $10.9 million to $22.4 million. Adjusted free cash flow(3) decreased by $7.3 million to a use of $18.8 million. *Total debt decreased by $242.6 million to $2,296.8 million. Net debt(4) decreased by $260.9 million to $2,177.1 million. The Company’s leverage ratio(5) decreased to 2.39x from 3.79x and from 2.49x at year-end.
Tetra Laval, the group which comprises Tetra Pak, Sidel and DeLaval is donating EUR 2 million to humanitarian support to Ukrainians in Ukraine and those that have been forced to flee to neighbouring countries. We are deeply distressed by the war in Ukraine and join all parties calling for peace. To reflect our sense of values, we will do what we can to support local humanitarian efforts, says Lars Renström, Chairman of the Tetra Laval Group. EUR 1 million is donated to UNICEF’s Drive for Ukrainian Children to support of the more than half a million children already affected by the war. A further EUR 1 million will be allocated to secure safe food distribution for refugee camps mainly in collaboration with Tetra Pak’s local customers.
With its perfect combination of softness and strength, Harmony Line of retail bath tissue and towel brings a great blend of premium quality and value to your shelves. Backed by Resolute’s vertically integrated production, this eye-catching brand delivers consistent industry-leading performance in every sheet. The Harmony Line offers outstanding quality, performance and value that gets noticed in store and builds loyalty at home. • Colorful Harmony packaging captures shoppers’ attention • Great consumer value that enhances retail margins • Includes offerings made with Resolute Tissue’s premium structured paper grade
Highlights • Strong financial performance ◦ Underlying EBITDA of €1,503 million, up €150 million year-on-year (11%), with second half up 29% ◦ Profit before tax of €983 million, up 28% ◦ Basic underlying earnings per share of 154.0 euro cents, up 19% ◦ ROCE up at 16.9% ◦ Continued good cash generation and strong balance sheet of 1.2x net debt to underlying EBITDA ◦ Recommended full year dividend of 65.0 euro cents per share, up 8% • Good progress on all elements of our sustainability roadmap, Mondi Action Plan 2030 (MAP2030) • Successful execution and delivery of key investments • Strong pipeline of capital investment projects to further capture growth in our packaging markets, building on our leading market positions and long track record of disciplined capital allocation, including €1 billion of expansionary projects approved or under advanced evaluation • Accelerated climate plans - committed to transition to Net-Zero by 2050, in line with a 1.5°C scenario • Agreed sale of Personal Care Components business in February 2022 to deliver greater focus • Well-positioned for the future, with unique portfolio of leading sustainable packaging solutions, cost-advantaged asset base and strong financial position
Stora Enso announced that they will stop all production and sales in Russia until further notice due to the ongoing invasion in Ukraine. Stora Enso has three corrugated packaging plants and two wood products sawmills in Russia, employing around 1,100 people. The Company will also stop all export and import to and from Russia. A mitigation plan has been activated to secure availability of input materials from other sources. “The war in Ukraine is unacceptable and we are fully behind all sanctions. We will now focus all our attention on supporting our customers and the well-being of our employees,” says Annica Bresky, President and CEO. Stora Enso’s sales in Russia is approximately 3% of total Group revenues. The impact on Stora Enso’s sales and EBIT is not material.
Huhtamaki has worked with Carte D’Or to shift the packaging for their ice cream to recyclable paper tubs and lids. The move to recyclable paper-based packaging will help the brand eliminate more than 900 tonnes of virgin plastic in the UK annually. “Huhtamaki is on a journey to becoming the first choice in sustainable packaging solutions with a focus to ensure our products are recyclable, compostable, or reusable by 2030. We are delighted to support Unilever’s ambitions for its packaging portfolio which includes halving the amount of plastic used by 2025 and rethinking plastic packaging to use less, better or no plastic. The shift in packaging for Carte D’Or addresses these key targets.
Mondi continues to closely monitor the situation in Ukraine, the response of international governments and any potential impact on the Group. Mondi has operations in Russia, representing around 12% of the Group's revenue by location of production, including a high margin, cost-competitive, integrated pulp, packaging paper and uncoated fine paper mill located in Syktyvkar (Komi Republic). These businesses primarily serve the domestic market and all are currently operational. In Ukraine Mondi has one paper bag plant located in Lviv, west of the country, employing approximately 100 people. Production is currently suspended.
Metsä Board's Kemi mill is gearing up to increase annual capacity by 40,000 tonnes and further enhance sustainability and efficiency through a series of investments in its white kraftliner production line, which will significantly reduce the mill's water and energy consumption. The coming two years are set to be an exceptional period of growth and improvement at Metsä Board's Kemi mill, driven by significant investments to modernise the production process and eliminate bottlenecks. At the helm is mill manager Timo Ahonen, who is excited by what 2022 and 2023 have in store for the Kemi site: "I thoroughly enjoy the process of implementing changes to our operations that we can see reflected in our results. One of our key goals for 2022 is to ensure the successful implementation of our production development programme," Ahonen highlights.
2021 Annual Highlights (comparative figures have been restated to reflect discontinued operations2) Sales of $3,956 million (compared with $4,105 million in 2020) As reported (including specific items) Operating income of $50 million (compared with $292 million in 2020) Operating income before depreciation and amortization (OIBD) of $302 million (compared with $543 million in 2020) Net earnings per common share of $1.60 (compared with $2.04 in 2020) Net earnings per common share of $0.26 (compared with $1.95 in 2020) Net debt1 of $1,351 million as at December 31, 2021 (compared with $1,760 million as at September 30, 2021). Net debt to adjusted OIBD ratio1 of 3.5x down from 3.8x as at September 30, 2021.
Stora Enso and Picadeli, Europe’s leading take-away salad bar company, are introducing renewable formed fiber lids to replace single-use plastics in take-away packaging. The lids are made of PureFiber™ by Stora Enso, and they are plastic-free, recyclable, and biodegradable. The innovation will help Picadeli reduce approximately 120 tonnes of plastic waste annually. “Our strategic aim is to grow with sustainable, scalable, and innovative packaging solutions. We do this by supporting strong forerunner brands such as Picadeli in meeting the growing consumer demand for plastic-free and circular solutions. A salad bowl lid is a good example of an everyday single-use plastic item that can make an important difference on climate footprint when replaced by a sustainable alternative,” says Sohrab Kazemahvazi, SVP Formed Fiber at Stora Enso.
Stora Enso is starting a feasibility study for the possible conversion of an idle paper machine at its Oulu site in Finland for a high-volume consumer board line. On a successful completion of the feasibility study, an investment decision could be made by the end of 2022 with start-up in 2025. Stora Enso’s strategy is to invest in growth to support the strong, continuous demand for sustainable packaging. This is one of the key strategic focus areas in which the Group is building its market share with both existing and new customers. Stora Enso already holds a leading global market position in this segment. The potential investment in Oulu would target high-quality and low carbon-footprint packaging segments for frozen and chilled food and beverages, as well as for non-food applications such as pharma and cosmetics. The feasibility study will also assess how the conversion could contribute to Stora Enso’s science-based targets regarding operational CO2 emissions.
ProAmpac announced that it has acquired Belle-Pak Packaging (“Belle-Pak”), an award-winning manufacturer of flexible packaging products. With the addition of Belle-Pak, ProAmpac expands its growing presence in Canada and extends its reach in high-growth e-commerce, healthcare and logistics end markets. Based in Ontario, Canada, Belle-Pak’s diverse portfolio of flexible packaging products includes poly mailers for e-commerce and logistics services, packing list envelopes and custom medical and clinical bags. This acquisition allows ProAmpac to serve a broader base of category-leading customers across North America with high-quality and innovative flexible packaging solutions. Greg Tucker, Founder and CEO of ProAmpac, said, “I am pleased to welcome the talented Belle-Pak team to ProAmpac as we continue our growth in Canada and embark on this exciting partnership. With Belle-Pak’s advanced technology and efficient manufacturing capabilities, our combined company will be well-positioned for continued growth and operational excellence.”
In just four months, Tetra Pak has co-invested over €11.5 million with recyclers and industry players, to help set up four completely new recycling solutions for carton packages in Turkey, Saudi Arabia, Ukraine and Australia. From building recycling capacity from scratch via cross-border cooperation (in Saudi Arabia), expanding that capacity by 50% (in Turkey), tripling the production capacity for the cartons' PolyAl element (in Ukraine) to leveraging a public/ private partnership (in Australia), these projects share one single, critical trait. They will enable recycling of all components of a used carton package, transforming them into quality materials and goods. Once fully operational, the new solutions will be able to process up to an additional 45,000 tonnes of used carton packages, enabling global carton package recycling to exceed 50 billion a year. This translates to significantly improved recycling in the respective countries, and in some cases also in the neighbouring ones.
2021 Highlights: *Net Sales were $7,156 million versus $6,560 million in the prior year. *Net Organic Sales increased approximately 2% in the fourth quarter and full year versus the prior year periods. *Net Income was $204 million versus $167 million in the prior year. *Executing approximately $850 million in recognized pricing actions in 2021 and 2022 to address commodity input cost inflation. *Commissioning the world's lowest-cost and highest-quality coated recycled paperboard production capabilities at the Kalamazoo, Michigan campus. *Completed AR Packaging and Americraft acquisitions, significantly expanding geographies, markets and the product portfolio. Graphic Packaging Holding Company (NYSE:GPK), (the "Company" or "Graphic Packaging"), a leading provider of sustainable packaging solutions to food, beverage, foodservice, and other consumer products companies, today reported Net Income for fourth quarter 2021 of $39 million, or $0.13 per share, based on 309 million weighted average diluted shares. This compares to fourth quarter 2020 Net Income of $64 million, or $0.24 per share, based on 270 million weighted average diluted shares.
Fourth Quarter 2021: Net sales of $1.5 billion increased 14% as reported in fourth quarter 2021. Currency had an unfavorable impact of $16 million, or 1%. Net earnings were $169 million, or $1.12 per diluted share, in fourth quarter 2021 as compared to net earnings of $138 million, or $0.88 per diluted share, in fourth quarter 2020. Fourth quarter 2021 was favorably impacted by Special Items of $1 million. The after tax gain on the sale of Reflectix was predominantly offset by restructuring costs and Tax Special Items. Full Year 2021: Full year 2021 net sales of $5.5 billion increased 13% as reported. Currency had a favorable impact of $68 million, or approximately 1%. Full year 2021 net earnings were $491 million, or $3.22 per diluted share, as compared to net earnings of $484 million, or $3.10 per share, in full year 2020. Special Items had an unfavorable impact of $50 million in 2021, primarily attributable to Tax Special Items, restructuring related costs, and a loss on debt redemption, partially offset by the gain on the sale of Reflectix. Tax Special Items were primarily expense items attributable to increases in uncertain tax positions and revaluation of deferred tax assets. Comparatively, Special Items had an unfavorable impact of $14 million in 2020.
Fourth Quarter 2021 Summary: *Strong top line growth across each segment resulted in reported sales up 9% and core sales (excluding currency effects and acquisitions) up 10% *Reported earnings per share increased 8% to $0.85 *Reported net income increased 8% to $58 million. Annual 2021 Summary: *Top line growth across each segment drove record annual sales of $3.2 billion *Reported sales grew 10% and core sales increased 7% *Reported net income totaled $244 million, exceeding 2019 pre-pandemic levels *Acquired Voluntis, a pioneer in digital therapeutics, and 80% of Weihai Hengyu Medical Products, a leading Chinese manufacturer of elastomeric and plastic components used in injectable drug delivery *Furthered our ESG performance and commitments resulting in the following recognitions: Newsweek’s Most Responsible Companies, Barron’s Most Sustainable Companies, Forbes’ Green Growth 50 list, Forbes’ Global Top 10 Female-Friendly Companies, JUST Capital’s Top 10 Companies Leading in Reducing Environmental Impact, EcoVadis Platinum and CDP’s Supplier Engagement Leaderboard *28th consecutive year of paying increased annual cash dividends
The American Forest & Paper Association (AF&PA) has released its January 2022 Packaging Papers & Specialty Packaging Monthly report. According to the report, total packaging papers & specialty packaging shipments in January decreased two percent compared to January 2021. *The operating rate in January was 86.3 percent, down 1.0 points from January 2021. *Mill inventories at the end of January decreased 5,000 short tons from the previous month and were down 7,000 short tons compared to January 2021.
Mondi plc is pleased to announce that it has entered into an agreement to sell its Personal Care Components business (‘PCC’) to Nitto Denko Corporation (‘Nitto’) for an enterprise value of €615 million, which is also the approximate cash consideration payable to Mondi at completion (the ‘Transaction’). Mondi’s strategic focus to grow in packaging and the limited overlap of PCC with the rest of its business, has led Mondi to conclude that the next phase of PCC’s development will be better undertaken outside of the Group. PCC, part of the Group’s Engineered Materials business unit, manufactures a range of components for personal and home care products needed in everyday life such as diapers, feminine care, adult incontinence and wipes. For the financial year to 31 December 2020, PCC generated underlying EBITDA of €42 million.
2021 FOURTH QUARTER HIGHLIGHTS *Delivered solid performance due to continued strength in the paperboard business *Managed through increased COVID related absences, supply chain disruptions and weather impacts *Achieved net income of $10 million, or $0.56 per diluted share and Adjusted EBITDA of $56 million *Net sales of $490 million, up 8% compared to the fourth quarter of 2020 *Net debt reduction of $37 million. 2021 FULL YEAR HIGHLIGHTS *Delivered strong performance due to robust demand for paperboard products and solid operational execution *Net loss of $28 million, which includes an after-tax loss of $38 million associated with the closure of Neenah, Wisconsin tissue facility *Net sales of $1.8 billion *Net debt reduction of $69 million
Sonoco announced that two members of the Company’s Board of Directors will be leaving. Marc D. Oken, 75, chairman and founder of Falfurrias Capital Partners, a Charlotte, N.C., private equity firm, has reached the Board’s mandatory retirement age and will not stand for reelection at the Company’s 2022 Annual General Meeting. Oken joined the board in 2006 and serves on the Company’s Executive Committee as well as the Executive Compensation, Audit and Corporate Governance and Nominating committees. In addition, Lloyd M. Yates, 61, who was recently named President and Chief Executive Officer of NiSource, Inc. (NYSE: NI), a Merrillville, IN, energy holding company, extended his resignation to Sonoco’s Board, effective March 1, 2022. Yates served on Sonoco’s Board since 2019 and is a member of Audit, Financial Policy and Employee and Public Responsibility committees. Yate’s resignation was not the result of any disagreement between Yates and the Company, its management, board of directors or any committee thereof, or with respect to any matter relating to the Company’s operation, policies or practices.
Apollo and Novolex Holdings LLC announced that funds managed by Apollo affiliates have entered into a definitive agreement to acquire the majority of the Company from funds managed by Carlyle. Carlyle will retain a minority stake in the Company. Financial terms were not disclosed. Novolex provides customers with packaging innovation, choice and sustainability. The Company manufactures products made with fiber, renewable, recycled and bio-based materials and resin that are designed to be recycled and composted. The Company is comprised of more than 10,000 employees worldwide and operates 57 manufacturing facilities in North America and Europe, including two world-class plastic recycling facilities. Customers include some of the world’s largest brands in the dine-in and to-go restaurant, grocery, retail, sanitation and janitorial, construction, food processing and related industries. With Apollo’s global resources and significant experience in the packaging sector, Novolex expects to strengthen its leadership position by expanding its blue-chip customer relationships through a shared commitment to sustainability and product innovation.
Menasha Packaging Company announces it has signed an agreement to acquire the assets of Color-Box, a business unit of Georgia-Pacific, LLC. Terms of the transaction were not disclosed. The acquisition is expected to close in early summer 2022. Like Menasha Packaging, Color-Box is a corrugated packaging manufacturer specializing in high-graphic boxes. Founded in 2000, Color-Box employs 550 and operates plants in Richmond, Indiana; Pelahatchie, Mississippi; and Madera, California. "Menasha Packaging and Color-Box are a great fit, and we are excited about the opportunities ahead," said Mike Riegsecker, President, Menasha Packaging Company. "Color-Box will expand our geographic footprint and provide additional graphics, design, and structural packaging options for our customers. Color-Box's business culture also strongly aligns with Menasha Packaging's, with a priority on safety and employee wellbeing, excellence in serving customers, and a focus on innovative solutions."
Mondi has created a fully recyclable packaging solution for Warmhaus, a Turkish producer of radiators and boilers for home heating. The new Monocorr Box is made of 100% recyclable corrugated board, including the inserts that cushion the packaged products. The previous Warmhaus packaging used expanded polystyrene (EPS) foam inserts, which have low recycling rates throughout Europe and generally end up in landfill or incineration facilities after disposal. Warmhaus was looking for an environmentally responsible packaging solution that would help to meet their own sustainability goals as well as the requirements of domestic and export customers. Monocorr Box is easily recyclable in Turkey and supports Warmhaus’s exports to the European Union, where some retailers are beginning to switch to EPS-free packaging, even for larger durables. Producers may also have to consider Extended Producer Responsibility (EPR) fees for EPS material in the future.
Now that the company has replaced its two oil-fired lime kilns with a biofuel-fired lime kiln, SCA Containerboard can claim to be the first kraftliner manufacturer with fossil-free industrial processes. The new lime kiln, part of the chemical recycling process in pulp production, was commissioned at the end of November. The construction of a new lime kiln is part of the major investment in the Obbola Paper Mill, where SCA is expanding to increase kraftliner production and meet the company’s goal for fossil-free manufacturing. - The aim of our investment in a new lime kiln is to get rid of fossil oil, as well as to meet the need for expansion, says Pär Micael Samuelsson, project manager for the lime kiln subproject. - We will eliminate 8,000 cubic metres of oil per year. Had we continued to use the two oil-fired kilns, we would have needed an additional 2,000 cubic metres to achieve the necessary sulphate pulping. Now we don’t need this and we have completely eliminated oil consumption, he explains.
Fourth-Quarter and Full-Year Highlights •Fourth-quarter 2021 net sales were $1.44 billion, up from $1.38 billion in 2020. Full-year 2021 net sales were $5.59 billion, compared to $5.24 billion in 2020. •Fourth-quarter 2021 GAAP earnings per diluted share was $0.66, compared with a GAAP loss per diluted share of $(0.12) in 2020. The full-year 2021 GAAP loss per diluted share was $(0.86), compared to GAAP earnings per diluted share of $2.05 in 2020. The full-year 2021 GAAP loss was driven by $410.4 million after-tax pension settlement charges mostly related to the Company's settlement of its U.S. Inactive Plan in the second quarter. •Full-year cash flow from operations was $298.7 million in 2021, compared with $705.6 million in 2020. Free cash flow in 2021 was $55.8 million, compared with $524.5 million in 2020. •On January 26, 2022, Sonoco completed the acquisition of Ball Metalpack, a leading manufacturer of sustainable steel tinplate packaging for food and household products and the largest aerosol can producer in North America, for $1.35 billion in cash subject to customary adjustments, including for working capital, cash, and indebtedness.
Q4 2021 in brief •Net sales increased 23% to EUR 999 million (EUR 813 million) •Adjusted EBIT was EUR 82 million (EUR 73 million); reported EBIT was EUR 84 million (EUR 48 million) •Adjusted EPS was EUR 0.54 (EUR 0.48); reported EPS was EUR 0.56 (EUR 0.30) •Comparable net sales growth was 12% at Group level and 19% in emerging markets •The impact of currency movements was EUR 24 million on the Group’s net sales and EUR 2 million on EBIT. Q1-Q4 2021 in brief •Net sales increased 8% to EUR 3,575 million (EUR 3,302 million) •Adjusted EBIT was EUR 315 million (EUR 302 million); reported EBIT was EUR 296 million (EUR 265 million) •Adjusted EPS was EUR 2.07 (EUR 1.95); reported EPS was EUR 1.91 (EUR 1.69) •Comparable net sales growth was 7% at Group level and 13% in emerging markets •The impact of currency movements was EUR -54 million on the Group’s net sales and EUR -6 million on EBIT •Capital expenditure was EUR 259 million (EUR 223 million) •Free cash flow was EUR -26 million (EUR 207 million)
January–December 2021 (compared to 1–12/2020) • Sales were EUR 2,084.1 million (1,889.5). • Comparable operating result was EUR 386.6 million (221.2), or 18.6% (11.7) of sales. Operating result was EUR 375.9 million (227.3). • Comparable earnings per share were EUR 0.85 (0.46), and earnings per share were EUR 0.82 (0.48). • Comparable return on capital employed was EUR 18.7% (12.2). • Net cash flow from operations was EUR 329.6 million (307.7). October–December 2021 (compared to 10–12/2020) • Sales were EUR 518.5 million (473.1). • Comparable operating result was EUR 91.3 million (64.5), or 17.6% (13.6) of sales. Operating result was EUR 90.8 million (64.5). • Comparable earnings per share were EUR 0.20 (0.14), and earnings per share were EUR 0.19 (0.14). • Comparable return on capital employed was 16.1% (14.3). • Net cash flow from operations was EUR 119.7 million (81.0).
Key Points *Revenue growth of 18% *EBITDA growth of 13% to €1,702 million with an EBITDA margin of 16.8% *Corrugated growth of 8% *ROCE of 16% *Acquisition in Italy ensuring continued security of supply for our customers *Ongoing investment programme meeting customers’ needs for innovative and sustainable packaging *Science Based Targets initiative (‘SBTi’) approval in line with the Paris Agreement
Flint Group Packaging will increase the prices of all its packaging products sold by the Flexible Packaging, Paper & Board and Narrow Web businesses. Further to multiple announcements advising of the worsening market conditions throughout 2021, the group has continued to weather unprecedented raw material, packaging, energy and freight cost increases. Escalating costs continue to be seen across all the above categories with no sign of relief in the foreseeable future. Doug Aldred, Chief Commercial Officer – Flint Group Packaging said, “The security of supply is our number one priority. Due to our extensive global network and efficiency programmes, we are able to mitigate a significant portion of cost and supply risk. However, we continue to witness tightening supply and exponential cost increases. Despite implementing an extensive range of efficiency programs to mitigate these conditions, we are reluctantly compelled to raise prices.”
Mondi, a global leader in packaging and paper, and Henkel are helping consumers to wash dishes more sustainably by creating a completely new reuse packaging concept. The two companies worked together on a packaging solution for Henkel’s hand dishwashing products that allows refilling plastic bottles from flexible pouches. This supports Henkel’s sustainability targets of making 100% of its packaging recyclable or reusable and reducing 50% of fossil-based virgin plastic by 2025. Since January, consumers can purchase a new keep-at-home refillable pump dispenser with refills in the lightweight, mono-material pouch produced by Mondi. The flexible stand-up pouch reduces plastic by 70% every time it replaces rigid plastic bottles and is easy to recycle where existing infrastructure exists. Convenient and lighter to carry home, the pouch completely empties thanks to its shaped design, leaving no residue. It is soft touch with a sturdy base so it can easily stand in-store, offering retailers attractive and eye-catching on-shelf appeal while also communicating all the brand information including sustainability benefits. Mondi’s leak-proof pouch is certified according to ISTA 6, providing a highly durable packaging for both in-store and online shopping.
Green logistics is a strategic approach that seeks to reduce the environmental impact of every activity in the supply chain, from sourcing or production to distribution and transportation. It is a comprehensive transformation of the entire strategy, structure and processes of companies, with the aim of creating environmentally responsible and resource-efficient logistics networks. Sustainable warehousing consists of having an infrastructure that is capable of moving goods faster and more efficiently than conventional logistics procedures. This results in a reduction of the pollution produced by this activity, as well as cost savings. In the warehouse, in addition to the machinery and energy sources used, it is essential to analyze and optimize the packaging and order preparation policy. In this sense, the design and use of packaging is a critical point in achieving green logistics. Packaging designs that make the best use of space should be used, both in storage and during transport. In addition, the use of recyclable or reusable materials helps to achieve more sustainable logistics within the company. Here you can learn about our recyclable packaging and our reusable packaging, all of them 100% customizable and personalized, according to the characteristics of the goods to be contained.
HP Inc. today announced the acquisition of Choose Packaging, a packaging development company and inventor of the only commercially available zero-plastic paper bottle in the world. Choose’s patented technology provides an alternative to plastic bottles and can hold a wide variety of liquid products. Its novel, paper-based bottles are made with naturally occurring and non-toxic materials and pave the way for a new standard for bottling solutions globally. “This acquisition is a great example of how we continue to strengthen our capabilities in attractive verticals like sustainable packaging while also driving progress against HP’s broader sustainability goals,” said Savi Baveja, Chief Strategy & Incubation Officer, HP Inc. “Choose has built a truly differentiated technology and we are excited to welcome this talented team to the HP family.”
INTERFOR CORPORATION recorded Net earnings in Q4’21 of $69.7 million, or $1.15 per share, compared to $65.6 million, or $1.05 per share in Q3’21 and $149.1 million, or $2.24 per share in Q4’20. Adjusted net earnings in Q4’21 were $78.2 million compared to $46.7 million in Q3’21 and $164.7 million in Q4’20. Interfor recorded Net earnings of $819.0 million, or $12.88 per share in 2021, compared to $280.3 million, or $4.18 per share in 2020. Adjusted EBITDA was $1.2 billion on sales of $3.3 billion.
Christoph Wachter took over as director of the Flexible Packaging Paper division at Koehler Paper in January 2022. He succeeds Eckhard Kallies, who has had great success in positioning, developing, and implementing a long-term strategy for this new business unit as part of a three-year mandate. Having invested over 300 million euros into the new production line 8 at its Kehl production facility, Koehler Paper entered the flexible packaging growth market in 2019. With Koehler NexPlus®, Koehler is now meeting the rapidly growing demand for sustainable packaging solutions. Christoph Wachter is taking over the division at Koehler Paper during a period of strong growth. He comes from Tyrol in Austria, is married, and has two grown-up children. The 58-year-old studied business administration and brings with him 30 years of experience in specialty paper in the paper industry, where his roles have included working as a CEO with international responsibility.
Hygiene and health company Essity, maker of the Tork brand, has acquired the US professional wiping and cleaning company Legacy Converting, Inc. The company manufactures sanitizing and disinfecting wet-wipes, chemical-ready wipes and dry wipes - expanding the Tork professional hygiene portfolio. Essity, a leading global hygiene and health company, today announced the acquisition of Legacy Converting, Inc., a U.S.-based cleaning and wiping company and manufacturer of the best-in-class, EPA-regulated Everwipe™ brand of disinfecting and wiping products. Legacy Converting, Inc. was founded in 2004 and manufactures roll and folded wipes in a variety of formats including pop-up canister, bucket and resealable packs. The company services customers in the Public Interest, Commercial and Healthcare market segments via the Industrial and Office supply sales channels. Legacy Converting, Inc. is based in New Jersey.
First Fiscal Quarter Highlights: *Net sales of $3.6 billion, a 14% increase *Operating income of $229 million; Operating EBITDA of $457 million *Diluted net income per share of $0.87; *Authorized new share repurchase plan of $1 billion; expect to repurchase at least $350 million of shares outstanding in fiscal 2022
Berry Global Group, Inc. announced that its Board of Directors has authorized a new share repurchase program under which the Company may repurchase up to $1 billion of its outstanding shares of common stock. The Company currently expects to repurchase at least $350 million of shares outstanding in fiscal year 2022, including the $50 million shares repurchased in the first fiscal quarter, and to fully utilize the program over the next two to three fiscal years. This new, expanded authorization replaces the Company’s existing share repurchase program, and reflects the Company’s strong and dependable cash flow and its desire to opportunistically return capital to shareholders. The specific timing, price and size of purchases will depend on prevailing stock prices, general economic and market conditions, applicable legal requirements and other considerations.
*Record first quarter net sales of $5.0 billion increased 12.5% year-over-year *Net income of $182 million increased 19.9% year-over-year *Consolidated Adjusted EBITDA of $680 million increased 1.6% year-over-year *Earned $0.68 per diluted share (“EPS”) and Adjusted EPS of $0.65, up 19.3% and 6.6%, respectively
SEE has announced the acquisition of Foxpak Flexibles Ltd. (Foxpak) under SEE Ventures, its initiative for investing in disruptive technologies and business models to accelerate growth. Foxpak, a privately-owned Irish packaging solutions company, pioneered the development of digital printing on flexible packaging. Foxpak partners with leading brands to deliver highly decorated packaging solutions; stand-up and spout pouches, and sachets that serve a variety of markets including food retail, pet food, seafood, and snacks. Foxpak has leveraged digital printing capabilities to print directly on its flexible packaging materials to empower their customers’ brands. Their solutions can be quickly scaled up or down to meet the production requirements for customers of any size.
Smurfit Kappa has collaborated with a leading UK recipe box company, Mindful Chef, to reduce the company’s carbon footprint by making their packaging more sustainable. Mindful Chef experienced a huge increase in demand for its home-delivered recipe kits during the pandemic. The company, which has been climate neutral since 2020, is committed to making every aspect of its business as sustainable as possible. Its previous recipe box consisted of insulation pouches combined with gel ice packs which, whilst effective at keeping the contents cool, were not easily recycled.
Stora Enso is investing EUR 8 million to double its production capacity of formed fiber in Europe. With new machinery in Hylte, Sweden, Stora Enso will meet the increasing demand for formed fiber. The investment further strengthens Stora Enso’s position as a leading provider of renewable materials that replace fossil-based ones. Stora Enso’s formed fiber products are currently being used in food packaging such as bowls, trays and lids. The technology is also being used for the development of fiber bottles. After the investment is completed, the Hylte site’s annual formed fiber capacity will grow from 50 to approximately 115 million units of product, making Stora Enso one of Europe’s leading suppliers of formed fiber. Formed fiber is renewable, recyclable, and biodegradable, and can be used to replace plastics in a wide range of applications. PureFiber™ by Stora Enso is a range of formed fiber products that contain no per- and polyfluoroalkyl substances (PFAS) and has up to 75% lower CO2 footprint compared to alternative packaging materials such as plastic or bagasse.
“We are pleased with O-I’s full year 2021 results, which rebounded strongly following the onset of the pandemic. Business performance exceeded the company’s guidance provided at the beginning of the year as well as our most recent business outlook. Sales and production volumes surpassed pre-COVID levels underscoring consumer preference for premium and sustainable glass packaging. Likewise, earnings benefited from very good operating performance and the company’s margin expansion initiatives,” said Andres Lopez, CEO of O-I. Reported Results: For the full year 2021, the company recorded earnings from continuing operations of $0.88 per share (diluted), compared to $1.57 per share (diluted) in 2020. Current year earnings from continuing operations before income taxes were $332 million, compared to $353 million in the prior year. Lower 2021 earnings primarily reflected the non-recurrence of a $275 million gain related to the 2020 sale of O-I’s Australia and New Zealand business unit, partially offset by higher operating results in 2021. Both periods included items management considers not representative of ongoing operations and other adjustments.
Highlights - Six Months Ended December 31, 2021 •Net sales of $6,927 million, up 12%; •GAAP Net Income of $427 million, up 3%; GAAP earnings per share (EPS) of 27.9 cents per share, up 5%; •Increasing cash returns to shareholders: quarterly dividend of 12.0 cents per share; $600 million of sharerepurchases expected in fiscal 2022, including an additional $200 million announced today. CEO Ron Delia said: "Amcor delivered a solid first half result as our teams continue to successfully navigate a persistently challenging and dynamic operating environment.”
The paper mailer has passed Western Michigan University Old Corrugated Container Equivalency (WMU OCC-E) testing protocol. The testing protocol was developed by WMU and certified by the Fibre Box Association, which represents 95% of the corrugators in the United States. Passing this third-party independent testing and certification makes EverTec mailers qualified to use a recyclable symbol according to the protocol established by Federal Trade Commission Green Guides. In addition, the Pregis EverTec mailer has also been assessed by the How2Recycle® program and deemed widely recyclable. The EverTec mailer is a sustainable protective packaging solution that helps customers achieve their environmental goals without sacrificing performance. The mailer is a lightweight, durable package that can decrease material waste, as well as reduce reliance on corrugated boxes and improve distribution efficiency—all while providing consumers with a curbside recyclable option. To meet significant market demand, Pregis has invested in several new U.S. manufacturing sites in 2021 and will be increasing capacity further in 2022.
Smurfit Kappa has made a simple but far-reaching change to its Vitop® taps. The taps used on its Bag-in-Box products are now free from carbon black pigment, making them much easier to recycle. Smurfit Kappa’s two largest European Bag-in-Box plants in France and Spain are now using the Vitop® Natural, a tap with a translucent body that was introduced two years ago as a sustainable alternative to the carbon black Vitop®. As the carbon black pigment is not always detected by the optical sorting near-infrared (NIR) scanners used by many recycling facilities, it can be classified as an unwanted component and can also give recycled plastic an unattractive grey colour.
The demand for environmentally friendly packaging continues to grow. This development is posing real challenges for brand owners. How do they make the switch to flexible packaging that is recyclable? What needs to be considered? How can the issue of recycling be advanced? And why does Europe still need to catch up on topics such as “defining recyclability” and “test methods”? Insight into these questions and more is featured in a new episode of Sappi's Blue Couch Series. *“Functional paper packaging – the path towards greater recyclability” *Julian Thielen, Head of the “Made for Recycling” service at Interseroh Plus, Kerstin Dietze, Key Account Manager for Paper and Packaging Solutions at Sappi, and Gustavo Duarte, Manager Competence Center Packaging Solutions at Sappi
WestRock Company announced plans today to build a new corrugated box plant in Longview, Washington, to meet the growing demand from WestRock’s regional customers in the Pacific Northwest. “WestRock’s corrugated packaging business in the Pacific Northwest continues to perform well, with strong relationships with customers in attractive growth markets,” said David B. Sewell, chief executive officer, WestRock. “Our new corrugated packaging plant will enable our team in this region to serve these customers even better in the future, with a state-of-the-art manufacturing facility that will provide new capabilities and efficiencies for our customers.”
Waddington North America™ (WNA), a Novolex® brand, announced today that it has been awarded a new patent for Cutlerease®, an innovative dispenser that offers customers one disposable utensil at a time. Thanks to the patent, Novolex can now offer customers the opportunity to lease or buy Cutlerease dispensers — making it even easier for foodservice establishments to enjoy its many benefits. The unique system cuts waste, reduces the spread of germs, saves space and provides guests with a more convenient way to get utensils. Customers simply withdraw the utensil from the dispenser by pulling on the handle of the spoon, fork or knife that they want. After the utensil is removed, another pops out, ready for the next guest.
Continuing its progress around its sustainable sourcing goals, Crown Holdings, Inc. has received certification from the Aluminium Stewardship Initiative (ASI) for its Mexican beverage can operations. Through the ASI Performance Standard, which assesses and confirms the ethicality of metal packaging production activities, Crown Mexico is verified for responsible production, sourcing and stewardship of aluminum. The achievement underscores Crown's ongoing commitment to operate as a responsible organization across its global footprint and deliver against the goals of its ambitious Twentyby30 sustainability program. As a not-for-profit standards setting and certification organization, ASI works to define environmental, social and governance principles and criteria, with the aim to address sustainability issues in the aluminum value chain. In addition to creating a benchmark for the industry, the organization's efforts around the ASI Performance Standard include: establishing requirements that can be independently audited to provide objective evidence for the granting of ASI Certification; reinforcing and promoting consumer and stakeholder confidence in aluminum; and serving as a broader reference for the establishment and improvement of responsible production, sourcing and material stewardship initiatives in metals supply chains. Utilizing these measures, ASI's ultimate mission is to recognize and collaboratively foster responsible production, sourcing and stewardship of aluminum.
Greif, Inc. announced that Ole Rosgaard assumed the role of President and Chief Executive Officer, consistent with the company's previously announced succession plan. Mr. Rosgaard succeeds Pete Watson who will become Executive Chairman of Greif’s Board of Directors. Mr. Rosgaard has also been nominated to serve on Greif’s Board of Directors, which will be voted upon at the Annual Stockholders’ Meeting on March 1, 2022. In addition, Greif announced a new executive leadership team effective February 1, 2022, that will lead ongoing growth and continuous improvement opportunities to drive additional shareholder value. Greif’s new executive leadership team is comprised of: Executive Vice President, Chief Financial Officer, Larry Hilsheimer; Executive Vice President, General Counsel and Secretary, Gary Martz; Executive Vice President, Chief Human Resources Officer, Bala V. Sathyanarayanan; Senior Vice President, Chief Supply Chain Officer, Tina Schoner; Senior Vice President, Global Operations Group, Kimberly Kellermann; Senior Vice President, Group President, Paper Packaging and Soterra LLC, Tim Bergwall; Senior Vice President, Group President, Global Industrial Packaging, Patrick Mullaney; Vice President, Chief Technology Officer, Doug Lingrel; Vice President, Chief Marketing and Sustainability Officer, Matt Eichmann (effective March 1, 2022).
Amcor launched a new platform of paper-based packaging products: AmFiberTM. AmFiber innovations aim to redefine the capabilities of traditional paper packaging, providing a wider range of features and functional benefits to meet the changing needs of consumers. Ron Delia, Amcor CEO said: “Amcor’s long-term experience in paper and carton packaging was the basis for launching the AmFiber platform. Amcor has a proven history of delivering ground-breaking innovation to support our customers’ growth aspirations. This family of differentiated paper-based products builds on Amcor’s extensive track record across multiple materials and applications.” The AmFiber platform demonstrates Amcor’s consumer-centric and adaptable approach to innovation which provides customers the best in packaging technology using the materials most suited to their needs.
HIGHLIGHTS *Fourth quarter net earnings (loss) attributable to International Paper of $107 million ($0.28 per diluted share) compared with $864 million ($2.20 per diluted share) in the third quarter of 2021 and $153 million ($0.39 per diluted share) in the fourth quarter of 2020. Third quarter 2021 net earnings include a net after-tax gain of $350 million ($0.89 per diluted share) on the sale of our Kwidzyn, Poland mill. Fourth quarter adjusted operating earnings* (non-GAAP) of $301 million ($0.78 per diluted share) compared with $431 million ($1.10 per diluted share) in the third quarter of 2021 and $206 million ($0.53 per diluted share) in the fourth quarter of 2020. *Full-year net earnings (loss) attributable to International Paper of $1.8 billion ($4.47 per diluted share) compared with $482 million ($1.22 per diluted share) for full-year 2020. Full-year adjusted operating earnings* (non-GAAP) of $1.3 billion ($3.20 per diluted share) compared with $848 million ($2.14 per diluted share) for full-year 2020. *Ilim equity earnings of $66 million, bringing full-year to $311 million
Berry Global Group, Inc. and TotalEnergies announce their collaboration to make food packaging more circular and divert waste from landfills. TotalEnergies will supply Berry Global with Certified Circular Polymers obtained through advanced recycling of post-consumer plastic waste that is otherwise hard to recycle via existing processes. This will help reduce waste and allow Berry Global to use more recycled plastic in its food and beverage packaging as well as healthcare products. Through the processing of circular feedstock in Antwerp’s steam cracker, TotalEnergies’ portfolio of polyethylene, polypropylene and polystyrene is available as certified material from advanced recycling. TotalEnergies Certified Circular Polymers exhibit virgin-like properties suitable for high-end, demanding applications. Starting in 2023, feedstock from hard-to-recycle plastic waste will be produced in TotalEnergies' advanced recycling plant to be built on a future, zero-crude platform in Grandpuits, France.
Packaging Corporation of America (NYSE: PKG) today reported fourth quarter 2021 net income of $217 million, or $2.28 per share, and net income of $262 million, or $2.76 per share, excluding special items. Fourth quarter net sales were $2.0 billion in 2021 and $1.7 billion in 2020. Full year 2021 net income was $841 million, or $8.83 per share, and net income of $894 million, or $9.39 per share, excluding special items. Full year net sales were $7.7 billion in 2021 and $6.7 billion in 2020.
Sonoco announced it has completed the acquisition of Ball Metalpack, a leading manufacturer of sustainable metal packaging for food and household products and the largest aerosol can producer in North America. Ball Metalpack was a joint venture owned by Platinum Equity and Ball Corporation (NYSE: BLL). “Sonoco and Ball Metalpack are a clear strategic fit. The metal packaging business complements Sonoco’s largest Consumer Packaging franchise – our iconic global Paper Cans and Closures business. In addition, this combination expands Sonoco’s already established sustainable packaging portfolio to include metal packaging, which is one of the world’s top circular economy adapted products,” said Howard Coker, President and CEO of Sonoco. “We are extremely excited to welcome 1,300 experienced metal packaging associates into the Sonoco family. With a comprehensive and innovative product portfolio and facilities enhanced by significant recent investments in new technology and capacity, we believe the addition of this metal packaging business will further strengthen our stable cash flow generation and provide immediate earnings accretion.”
2022 has brought new life to our Kingsport Mill. In addition to 31,500 tons of material from the mill’s original structures being recycled to form the foundation for the mill’s future, employees who once made paper there are set to return to work as new buildings rise in the place where the others stood for more than a century. Construction isn’t the only new life being breathed into the mill. The site is buzzing again as employees prepare to return to work and get accustomed to the mill’s new layout, containerboard product and processes. With all the changes to the site, even long-time employees are having to relearn their way around.