American Forest & Paper Association Releases May 2020 Packaging Papers Monthly Report

A long-term collaboration between Finnish startup The Paper Lid Company and Metsä Board, part of Metsä Group, has led to the development of a 100% recyclable paperboard lid for use with takeaway cups. The lid, which is made from fully recyclable dispersion barrier board, is suitable for use with both hot and cold beverages. It uses a novel technology developed by The Paper Lid Company that makes it possible to form the paperboard into the desired shape. The result is a one-piece lid that clicks firmly in place and offers performance that is comparable to that of a traditional plastic lid. “Reducing the volume of plastic waste is a critically important issue, and together with our partners we are continuously developing and testing new innovative solutions that have circular-economy thinking at their core,” says Ilkka Harju, Packaging Services Director EMEA and APAC at Metsä Board. “The paperboard lid is a great example of precisely such a solution.”

Third Quarter 2021 Results: Reported Results: For the third quarter 2021, the company recorded earnings from continuing operations of $0.48 per share (diluted) compared to earnings from continuing operations of $2.06 per share (diluted) in the prior year period. The current year earnings from continuing operations before income taxes were $127 million, compared to $376 million in the third quarter of 2020 which included an approximately $280 million net gain on the sale of O-I’s ANZ business unit. Segment Operating Profit1: Third quarter 2021 segment operating profit was $243 million compared to $204 million in the prior year period. While demand for glass containers remains strong, sales volumes (excluding divestitures) declined approximately 1 percent from the prior year. Higher segment operating profit was largely due to higher production levels, as well as strong operating performance and the benefits from the company’s margin expansion initiatives. Cash Flows: Cash provided by continuing operating activities was $306 million in the third quarter 2021, compared to $262 million in the prior year period. Third quarter 2021 free cash flow1 was $213 million compared to $205 million in 2020.

David Timm, president of Pregis’ performance flexible operations, has established several pivotal roles focused on creating a whole new customer experience model. These include: Russ Joseph, vice president of sales; Beth Scherpenberg, vice president of sales operations; Chad Perre, vice president of technology, and Jonathan Quinn, director of market development and sustainable flexible packaging. In their respective positions, the team will be responsible for delivering operational excellence, gold standard customer service and performance-oriented, customer-driven solutions with sustainability at the forefront.