WestRock Reports Second Quarter Fiscal 2024 Results

Metsä Board, the leading European producer of premium fresh fibre paperboards and part of Metsä Group, is pleased to announce that its revolutionary new paperboard cup design, ‘Lidloc’, has been selected as a finalist in the prestigious 2017 PPI Awards. The Lidloc design was chosen for the Packaging Innovation category, clearly reflecting how it has broken new ground in paperboard cup design. The design has a patent pending and is based upon an extension to a standard cup structure that folds and locks into an integrated lid. This innovative design completely removes the need for a separate plastic lid and will re-invent how paperboard cups are produced, consumed and recycled. Click Read More below for additional detail.

International Paper announced that it has completed the transfer of its North America Consumer Packaging business to Graphic Packaging. As a result of the transaction, Graphic Packaging has assumed $660 million of IP debt. IP now holds a 20.5% ownership interest in the subsidiary of Graphic Packaging that holds the assets of the combined business. The transferred business includes approximately 3,900 employees, two coated paperboard mills and three converting facilities in the U.S., along with one converting facility in the U.K.

Intertape Polymer Group Inc. announced it has entered into a definitive agreement to acquire Nuevopak Global Limited (“Nuevopak”) for approximately $43.8 million in total cash consideration, consisting of $34.8 million to be paid at closing and the remaining amount, subject to certain post-closing adjustments and potential contingent consideration, to be paid within three years from the date of closing. All amounts are in US dollars. Nuevopak designs and develops a range of machines to provide void-fill and cushioning protective packaging solutions. Nuevopak currently supplies IPG with paper dispensing machines and converted paper for protective packaging distribution in North America. Nuevopak is a privately held company headquartered in Hong Kong with subsidiaries in Jiangmen, China and Scheden, Germany that serve customers around the world, providing protective packaging solutions using a combination of world-class innovation and specialized industry experience. This acquisition is expected to further enhance IPG’s protective packaging business and strengthen its product bundle, thereby supporting IPG’s vision to be a global leader in packaging and protective solutions. The acquisition is also expected to enable IPG to secure dispensing machine supply, vertically integrate its paper converting operation, and expand market share in this growing, sustainability-focused market.