Mondi has added to its range of sustainable premium food and pet food packaging solutions with the launch of RetortPouch Recyclable. The new high-barrier pouch will replace complex multi-layer and unrecyclable packaging for a range of food and wet pet food products. Moist or semi-moist foods that are heat-treated in steam or hot water retort vessels to achieve commercial sterilisation for shelf-stable foods require retort packaging. The aluminium typically used in most solutions has been substituted with an innovative high-barrier film that keeps temperatures high and maintains short processing times during the retort process. The new mono-material retort packaging is fully recyclable, offering a solution that protects the product, provides exceptional shelf life for a mono-material solution and reduces potential food waste.
*Operating result in Q3 above the previous quarter but significantly below the previous year
*Solid performance at MM Packaging
*A decline in volume caused by the market and renovations continued to weigh on MM Board & Paper’s earnings
*General conditions remain tense due to inflation-related consumer restraint and the overall economic slowdown
*No immediate recovery apparent
*The profit and cash protection program that has been initiated is beginning to take effect
Peter Oswald, MM CEO: “After the record year of 2022, the MM Group has been operating in a market environment with significantly reduced demand in the paper and cardboard industry and increasing price pressure for several quarters. Although destocking in the supply chain appears to be coming to an end in many places, consumer reluctance to purchase continues due to inflation and the overall economic slowdown in our main European markets.”
As expected, the difficult general conditions were also reflected in the third quarter, particularly in the weak volume and earnings development of the MM Board & Paper division, which, in addition to significant market-related machine downtimes, was once again characterized by planned investment-related shutdowns. In contrast, despite a heterogeneous packaging market, the MM Packaging division recorded an overall solid performance and successful integration of last year’s acquisitions in the resilient pharmaceutical packaging sector.
deatils at: https://www.mm.group/newsroom/presseaussendungen/ergebnisse-zum-3-quartal-2023/