International Paper to Explore Strategic Options for Ownership Interest in Ilim Group

Sonoco Products Company announced that it has initiated a review of strategic alternatives for the Company’s Thermoformed & Flexible Packaging (“TFP”) business, a part of the Company’s Consumer Packaging segment. Exploring alternatives for the TFP business is expected to accelerate Sonoco’s portfolio simplification strategy, improve pro forma leverage and further increase shareholder value. Sonoco’s TFP is a market leading thermoformed and flexible packaging business serving a wide range of customers in food, retail and medical markets. TFP provides a variety of complex packaging to value-added categories including snacks, condiments, healthcare, prepared meals, fresh products and coffee and pet. On a pro forma standalone basis, TFP had revenue of $1.3 billion in 2023.

The scale and importance of e-commerce has been felt worldwide especially during the current pandemic and is here to stay. It has been the fastest-growing channel as consumers shop online, on their smartphones and through social media. All have come to expect a seamless shopping experience, the omnichannel approach, across multi-platforms from brick and mortar (click & collect) to online. “At Aptar Beauty + Home we are READY to deliver our strategy by focusing on our enablers – sustainability, digitalization and transformation. Offering sustainable and e-commerce capable solutions is critical today. Packaging is the first interaction a customer has with our clients’ products. How it arrives, how it is disposed, and the overall customer experience is what our team is working on every day.” shares Marc Prieur, President, Aptar Beauty + Home.

Omet Americas has opened its latest Innovation Center in Mount Prospect, IL, strategically positioned near Chicago O’Hare International Airport. This move underscores the company’s commitment to expanding its presence in the North American market. At the heart of this facility is the Omet KFlex 17in flexo press, a platform designed to ‘redefine industry standards’ with its innovative design and advanced technology. It offers flexibility and operator convenience and is available in 17 and 20in models. The KFlex’s standout feature is its Switch system, enabling easy configuration adjustments to meet various production demands.