Pactiv Evergreen and ExxonMobil Collaborate to Leverage Advanced Recycling for Foodservice Industry Packaging

Pactiv Evergreen Inc. (NASDAQ: PTVE) a leading manufacturer of fresh food and beverage packaging in North America, and ExxonMobil, a leader in advanced recycling technology, are teaming up to provide certified-circular packaging solutions to major food brands and foodservice providers.

Pactiv Evergreen will soon offer its customers certified-circular polypropylene (PP) packaging products leveraging ExxonMobil’s Exxtend™ technology for advanced recycling. These innovative products will meet all regulatory requirements and specifications for food contact applications.

“Pactiv Evergreen produces more than 14,000 products in 14 different materials that protect, package and display fresh food and beverages,” said Tim Levenda, President of Pactiv Evergreen’s Foodservice business unit. “Our broad material expertise allows us to support our customers quickly and effectively, and our collaboration with ExxonMobil enables us to offer additional innovative packaging options to our customers with an expanded portfolio of circular packaging.”

ExxonMobil’s Exxtend technology can help widen the range of plastic materials that can be recycled and provides performance and quality identical to virgin plastics. Through Exxtend technology, plastic waste is broken down into its molecular building blocks and attributed to many valuable new products, including PP, through a mass balance approach. Through the collaboration, Pactiv Evergreen will convert ExxonMobil’s PP into packaging, which is International Sustainability and Carbon Certification (ISCC) Plus certified-circular. ISCC PLUS is an internationally recognized, third-party certification process for circular content, which offers full traceability along the supply chain.
more at: https://investors.pactivevergreen.com/news-releases/news-release-details/pactiv-evergreen-and-exxonmobil-collaborate-leverage-advanced

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International Paper Reports Second Quarter 2023 Results

*Net earnings of $235 million ($0.68 per diluted share); Adjusted operating earnings* (non-GAAP) of $204 million ($0.59 per diluted share) *$55 million of earnings achieved from Building a Better IP initiatives, bringing year-to-date to $120 million *Cash provided by operations of $528 million, bringing year-to-date to $873 million; Free cash flow** (non-GAAP) of $265 million year-to-date 2023 *Returned $200 million to shareholders through $40 million share repurchases and $160 million in dividends, bringing year-to-date to $519 million
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