Packaging manufacturers worried by 50% tariffs on steel, aluminum

Intertape Polymer Group Inc. is pleased to announce that the Superior Court of Québec has issued a final order approving the previously announced acquisition of the Company by an affiliate of Clearlake Capital Group, L.P. by way of a plan of arrangement in accordance with Section 192 of the Canada Business Corporations Act. Pursuant to the terms of the Arrangement, the Purchaser will acquire all of the outstanding shares of the Company for a consideration per share of CDN$40.50 in cash. Subject to the satisfaction or waiver of the remaining conditions to closing contained in the Arrangement agreement with the Purchaser, the Arrangement is expected to close early in the third quarter of 2022.

Cascades is launching the first 100% recycled and recyclable thermoformed cardboard tray designed for fresh food packers using automated equipment in North America. This thermoformed tray delivers a unique innovative food packaging solution that was developed entirely using a circular economy approach and ecodesign principles. The tray is composed of 100% recycled fibres, mostly sourced from post-consumer sources certified "Recycled" under the Forest Stewardship Council® (FSC®) standard.1 In addition, it is designed with a patented water-based coating that protects it from moisture without compromising the recyclability of the cardboard. Unlike traditional containers coated with a thin layer of plastic or other non-recyclable coatings, this food tray is easily recyclable and can be placed in the recycling bin. Its SurfSHIELD® water-based coating also helps preserve the integrity and freshness of food, reducing food waste.

Sonoco announced it is increasing prices for all rigid paper containers and closures sold in North America by 9.5 percent, effective with shipments on, and after, June 3 , 2021. According to Ernest Haynes, Division Vice President and General Manager, Rigid Paper and Closures, North America, this price increase is necessary to recover rapidly rising costs for key raw materials used to produce rigid paper containers and closures. “Due to the rising inflationary cost of adhesives, laminate structures, recovered paper and steel, we are experiencing input cost pressures that simply cannot be absorbed,” Haynes said. “These inflationary cost increases have been compounded by the after-effects of Winter Storm Uri on the adhesives industry along with incredible demand in the steel marketplace."