Berry Global Group, Inc. announced its collaboration with The Medicom Group, (Medicom), to design the manufacturing solution and guarantee the supply of nonwoven fabric intended for use in producing hundreds of millions of face masks annually as part of Medicom’s agreement with the British Government. Medicom is one of the world’s leading manufacturers of medical and respiratory masks. To do so, Berry is investing in a new state-of-the-art meltblown nonwovens line, to be outfitted with its proprietary charging technology, at one of its UK based facilities to increase capacity of material necessary in the production of European-standard Type IIR and N99-equivalent FFP3 masks. The masks will be manufactured and sold under Medicom’s European Kolmi brand.
*Net sales of $1.4 billion, up 12% as reported; up 15% constant currency
*Net earnings of $150 million, up 41%; EPS of $1.00, up 47%
*Adjusted EBITDA of $327 million, up 22%; Adjusted EPS of $1.12, up 43%
*Cash flow from operations of $48 million, down 39%
*Accelerating growth investments, CapEx of $67 million, up 53%, in 2022
SEE (NYSE: SEE) today announced financial results for Q1 2022.
“Our SEE Operating Engine delivered strong Q1 performance as we accelerate our transformation to a world-class, digitally driven company automating sustainable packaging solutions.
We are proud of our people and their determination to overcome extreme inflationary pressures and widespread supply challenges while delivering exceptional results,” said Ted Doheny, SEE’s President and CEO.
“We recently launched our new Digital Packaging Solutions brand prismiq™ to create game-changing value for our customers powered by our breakthrough digital printing technology,” continued Doheny.
details at: https://ir.sealedair.com/news-releases/news-release-details/see-reports-q1-2022-results