O-I Glass, Inc. announced that its wholly owned subsidiary, Paddock Enterprises, LLC, has emerged from Chapter 11 protection, following affirmation by the U.S. District Court for the District of Delaware on June 22, 2022, of an order confirming Paddock’s Plan of Reorganization. The Plan was previously confirmed by the U.S. Bankruptcy Court for the District of Delaware on May 26, 2022. Paddock emerges from Chapter 11 having achieved a final and fair resolution of its asbestos-related legacy liabilities under the Plan. “Paddock’s Chapter 11 process has been completed in a manner that provides finality for the company and, importantly, fair and equitable resolution for claimants,” said Andres Lopez, CEO of O-I Glass.
PaperWorks Industries, Inc., a leading manufacturer of paperboard and specialized folding cartons, announced that C. Anderson “Andy” Bolton has joined the company as president and chief executive officer.
Bolton has more than two decades of senior leadership experience with several multinational packaging companies. He brings to PaperWorks a significant track record in finance, sales, strategy, business development and executive management in flexible and rigid packaging. In his prior roles, he has served the needs of many market segments including personal and home care, beverage, medical, pharmaceutical and others.
“PaperWorks has an excellent reputation as a leading integrated recycled board manufacturer and specialized folding carton provider for many well-known brands in the food, home, personal care and health sectors. Going forward, our focus will be to continue to enhance and drive value for our customers by providing innovative packaging solutions. We continue to invest in our facilities and further develop our capabilities to remain at the forefront of our industry, which will help our customers and brand owners achieve their marketing objectives,” Bolton said.
Most recently, Bolton was president of Crown, Cork & Seal’s Aerosols, Closures & Specialty Packaging North American (NA) divisions. During his six year tenure, he led both the Aerosols NA and Metal Closures NA divisions, driving significant process improvements and commercial growth. Prior to Crown, Bolton was a vice president/general manager for Amcor, focused on the semi-rigid packaging sector. For 15 years prior to that, Bolton held multiple senior leadership positions with the Bemis Company, Alcan and Pechiney.