Cascades inaugurates the expansion of its Drummondville packaging plant

Smurfit Kappa announces that it has received an unsolicited proposal from International Paper Company, headquartered in Memphis, USA, whereby International Paper would acquire Smurfit Kappa and Smurfit Kappa shareholders would receive a combination of cash and a minority holding in the combined business. The Board of Smurfit Kappa has carefully considered the Proposal and believes it is in the best interests of the Group’s shareholders and other stakeholders to pursue its future as an independent company, operating as the European and Pan-American leader in paper-based packaging. Smurfit Kappa is a world leader in paper-based packaging with an established track record of consistently delivering strong and improving operating and financial performance. Click Read More below for additional information.

Amcor announced a Memorandum of Understanding (MOU) with leading sustainable polyethylene producer NOVA Chemicals Corporation for the purchase of mechanically recycled polyethylene resin (rPE) for use in flexible packaging films. Increasing the use of rPE in flexible packaging applications is an important element of Amcor’s commitment to support packaging circularity. The supply agreement would enable Amcor to purchase SYNDIGO™ rPE resin, manufactured at NOVA Chemicals’ first mechanical recycling facility in Connersville, Indiana, which is projected to be in operation as early as 2025. The recycling facility was announced in July as a significant expansion of NOVA Chemicals’ Circular Solutions business.

Greif, Inc. announced that it has completed its previously announced divestiture of the Flexible Packaging joint venture, or “FPS” for a total cash consideration of $123 million, subject to certain conditions and post-closing adjustments, to Gulf Refined Packaging. “Completion of the FPS divestiture and the exit of the joint venture relationship is an important step in advancing our Build to Last Strategy,” said Ole Rosgaard, Greif’s President and Chief Executive Officer. “I would like to thank our FPS colleagues for their hard work over the last 11 years and wish them the very best in the future.” Proceeds from the sale of FPS will be used toward debt repayment. The impact from this sale has been factored into Greif’s recently announced increased earnings guidance for Fiscal 2022.