Cruz Cool is one of TIME’s Best Inventions of 2023.

Smurfit Kappa Group plc agrees to acquire Verzuolo, a containerboard business in Northern Italy, for a cash consideration of €360 million. The Verzuolo mill owned by the Burgo Group, is situated close to the port of Savona in the northwest of Italy. The PM9 machine was newly constructed in 2002 and converted into a 600,000 tonne capacity recycled containerboard machine in 2019. Verzuolo is highly complementary to SKG’s existing business and is strategically positioned to serve both the Southern European region and other markets ensuring we continue to provide the best service to our corrugated customers. The acquisition will deliver significant synergistic benefits including technical and production optimisation, and increased containerboard integration within the Group. The cash consideration will be funded from the Group’s existing resources. It is expected that the acquisition will complete during the fourth quarter, subject to customary closing conditions including regulatory approval.

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).

UK-based packaging group DS Smith Plc has offered to buy Spanish rival Europac for 1.9 billion euros ($2.2 billion) including debt to bolster its position in western Europe’s fast-growing packaging market. A deal would be DS Smith’s biggest acquisition to date and the latest in an industry benefiting from growing demand from online retailers. “Europac’s board of directors has confirmed that the acquisition is friendly and attractive,” DS Smith said on Monday, adding it had received undertakings to accept the offer from shareholders owning 58.97 percent of the Spanish company. Click Read More below for additional information.