International Paper (NYSE: IP) has entered into an agreement to sell its 90.38% ownership interest in Olmuksan International Paper to Mondi Group for approximately €66 million. The Olmuksan business includes corrugated packaging facilities in Turkey with an approximate annual revenue of TRY1,093 million (€150 million). The transaction is expected to close in the first half of 2021, subject to certain closing conditions and regulatory approvals. This action is in line with International Paper’s strategy to serve markets from an advantaged position. Corrugated packaging remains a strategic business for International Paper in EMEA.
https://internationalpaper2015.q4web.com/news-releases/press-r/2021/International-Paper-Reaches-Agreement-to-Sell-Its-Corrugated-Packaging-Business-in-Turkey/default.aspx
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Smurfit Kappa has developed a recyclable film to replace the nylon which is commonly used in bag-in-box products, particularly in the US. Nylon bags are often used in bag-in-box packaging which requires extra protection, for example motor oil or detergents or large industrial-use food bags. Nylon is also sometimes chosen when there is particularly long or complex supply chain. Smurfit Kappa Bag-in-Box has developed a polyethylene film which has similar properties to nylon, in terms of strength and resilience but, unlike nylon, is recyclable. Massimiliano Bianchi, COO of Smurfit Kappa Bag-in-Box, commented: “Our new Lx polyethylene film is much better for the planet because polyethylene is the most developed recyclability stream in the flexible packaging sector.
In a world increasingly aware of the need to preserve our natural resources, paper-based packaging offers a renewable, recyclable, and sustainable solution. Through The Responsible Package® initiative, Pratt Industries works with allied companies and associations to provide free, standards-based education materials on this topic to middle school teachers, students, and families. As future decision-makers, the students of today play an important role in preserving our natural resources for future generations. By helping students understand the value of materials that might otherwise be sent to landfill, we as an industry can work to maintain our long-standing tradition of recovering and recycling paper and paper-based packaging at rates well above most of our non-renewable competitors. In 2017, The Responsible Package educational materials were distributed to 355,000 students in more than 2,000 schools across 25 states. All of the educators who responded to a year-end survey expressed interest in repeating their participation in the program and reported students gaining awareness and a positive outlook for paper-based products. Click Read More below for additional information.
The development of sustainable packaging solutions is not a new endeavor at Sun Chemical but has accelerated in the past ten years as awareness of environmental issues has dramatically increased, as has the demand for cutting and recycling household waste and reducing carbon emissions and other pollutants. Consequently, Sun Chemical has organized a Corporate Sustainability Committee to further strengthen its approach to addressing the sustainability needs of the packaging industry. Comprised of eight executive leaders, including Myron Petruch, Carlo Musso, Chris Parrilli, Fernando Tavara, Robert Fitzka, Greg Hayes, Russell Schwartz, and Jim Van Horn, the Corporate Sustainability Committee will work together to guarantee company-wide engagement in sustainability initiatives and will build and oversee the company’s sustainability strategy, ensuring that proper resources are assigned for timely and effective implementation.