Tredegar Corporation announced that it has agreed to sell its flexible packaging films business to affiliates of Oben Group for net debt-free base consideration of $116 million. Terphane, which solely comprises the flexible packaging segment reported by Tredegar, has approximately 500 employees with manufacturing sites located in Cabo de Santo Agostinho, Brazil and Bloomfield, New York, and headquarters located in São Paulo, Brazil, and exports to 29 countries. Tredegar expects to realize after-tax cash proceeds from completion of the transaction of $85 million after deducting projected Brazil withholding taxes, escrw funds, US capital gains taxes and transaction costs. Actual after-tax proceeds may differ from estimates due to possible changes in deductions during the potentially lengthy interim period (expected to be between 8 and 14 months) to the closing date. For the 12 months ended June 30, 2023, net sales and EBITDA from ongoing operations for Terphane were $152 million and $16.4 million, respectively.
Smurfit Kappa has announced the opening of a new International Safe Transfer Association (ISTA) certified lab at its new eCommerce packaging facility in Northampton, UK. This brings with it an expansion of Smurfit Kappa’s network of packaging testing labs and centres that support retailers and producers to develop, test and launch disruptive packaging solutions for eCommerce at minimal risk and with reliable implementation. ISTA certification is often required by online selling platforms such as Amazon, Alibaba or eBay.
From its ISTA lab in the Netherlands, Smurfit Kappa has over 14 years of experience and data from testing new and innovative packaging solutions to ensure they are fit for purpose and meet the challenges of the eCommerce supply chain. Most recently, Smurfit Kappa was the first to secure Amazon’s ‘Frustration-Free Packaging’ pre-certification for a three litre Bag-in-Box solution. All this expertise is now also extended into the UK market.
The team of experts work with customers to develop new packaging solutions to minimise and prevent product damage occurring during distribution. The prototype designs are then rigorously tested to ensure that the required performance standards concerning compression, drop and vibration are met to secure certification. Following certification, the packaging solutions are then put into production for customers.
Speaking at the launch, Eddie Fellows, CEO UK & Ireland said: “Our customers need innovative and sustainable packaging solutions to meet growing demand from online sales. The lab is an ideal environment for us to work with customers to develop new packaging in real time. Whether our customers are moving to online retail to increase their customer base, or introducing new packaging solutions, by securing the necessary certifications in our lab they have a clear path to develop solutions quickly that are resilient to supply chain damage.”
Also commenting on the launch, Arco Berkenbosch, Vice President of Innovation and Development, said: “Our network of innovation centres ensures sustainable, adaptable and scalable solutions and underscores our focus in eCommerce. We are committed to continuing our investment in laboratories that directly benefit our customers, providing a real advantage over their competitors and offering customers even greater value.”
In addition to the new eCommerce ISTA certification lab, Smurfit Kappa Northampton is also comprised of an Experience Centre for customers to immerse themselves in the latest insights and to experience first-hand innovations in packaging. The centre is equipped with state-of-the-art technologies and tools to develop deeper insights across the entire value chain from warehouse simulations to a virtual store.