Net sales of $1.4 billion decreased 8% as reported in fourth quarter 2022, with APAC decreasing 14%, Americas decreasing 8%, and EMEA decreasing 6%. Net earnings were $95 million, or $0.65 per diluted share, in fourth quarter 2022 as compared to net earnings of $169 million, or $1.12 per diluted share, in fourth quarter 2021. Full year 2022 net sales of $5.6 billion increased 2% as reported, with Americas increasing 6%, APAC decreasing 6%, and EMEA decreasing 3%. Full year 2022 net earnings were $491 million, or $3.33 per diluted share, as compared to net earnings of $491 million, or $3.22 per diluted share, in full year 2021.
Leading European thermoforming packaging specialist Waddington® Europe, a division of Novolex®, has introduced an innovative recyclable tray for meat, fish and poultry products.
The container, called Piranha™, is sealed using a series of raised teeth that run around the sealing flange instead of applying a layer of polyethylene or adhesive, which are typically used to seal the lid of modified atmosphere packaging (MAP). The raised teeth maintain the seal’s integrity even if the flange becomes contaminated by animal fat, which can interfere with closure on traditional packaging for meat, fish and poultry (MFP) products.
With Piranha, greasy contaminants are forced into the channels between the raised teeth, leaving the peaks clear and clean to contact the PET top web. Under the same sealing temperatures and dwell time, the top web adheres to the peaks, creating the seal despite the presence of contaminants. During filling-line trials of Piranha, the problem of burst seals due to grease contamination on mono-rPET sealing was cut to almost zero.
As a mono-material package, the tray is capable of being fully recycled. Piranha can also be made with up to 100% recycled PET (rPET) and is Plastic Tax compliant in the U.K.
“We are always trying to find innovative ways to reduce our carbon footprint and promote circularity, as well as help our customers and their consumers do the same,” said Eduardo Gomes, Managing Director of Waddington Europe. “Our packaging development team has really hit the mark with Piranha, enabling us to optimise the use of recycled content and provide a product that’s capable of being easily recycled back into food-grade rPET.”