Crown Holdings, Inc. announced that it has entered into an agreement to acquire Signode Industrial Group Holdings (Bermuda) Ltd., a leading global provider of transit packaging systems and solutions, from The Carlyle Group, in a cash transaction valued at $3.91 billion subject to customary closing adjustments. The acquisition, which is subject to review by various competition authorities, is expected to close during the first quarter of 2018 and to significantly increase free cash flow. Debt financing has been fully committed in support of the transaction. With pro forma sales and adjusted EBITDA of $2.3 billion and $384 million, respectively, for the twelve months ended November 30, 2017, Signode is the world's leading supplier of transit packaging systems and solutions, which consist of strap, stretch and protective packaging consumables and the application equipment and tooling for each. Based in Glenview, Illinois, Signode's global footprint includes operations in 40 countries across 6 continents, with sales to customers in approximately 60 countries. Click Read More below for additional information.
Mondi, a global leader in sustainable packaging and paper, is upgrading its Dynäs pulp and paper mill in Sweden. The modernisation programme will increase efficiency and further improve the overall environmental performance of the mill, positioning it well to continue meeting customer demand for sustainable paper and paper-based packaging solutions.
The Dynäs mill produces high-quality sack and speciality kraft papers, used for a variety of paper-based packaging solutions for industrial and consumer industries, and is an important part of Mondi’s Flexible Packaging business. The project includes the installation and upgrade of machinery and equipment such as a new cooking plant and bark boiler, which will improve the mill’s energy efficiency. Upgrades will also further reduce air and water emissions, and result in better wood utilisation at the mill.
“The modernisation programme at Dynäs represents a significant investment in the future of this well-established mill. By producing sustainable sack and speciality kraft paper, we continue to contribute to our MAP2030 goals and meet customer demand with innovative solutions such as Advantage StretchWrap, an alternative to plastic film pallet wrapping, and Advantage MF EcoComp, used for high strength packaging like paper bags for wet organic household waste. The mill supplies paper across Europe and plays an important role in the local community.” Roman Senecky, COO Mondi Kraft Paper
The Swedish Land and Environmental Court (Mark-och Miljödomstolen) approved Mondi’s works application in March 2023. Construction is expected to be completed by the end of 2026.