Atlantic Packaging Products Ltd. Announces Addition of New Recycled Paper Machine in Whitby, Ontario

Sonoco FRESH (Food Research Excellence for Safety and Health), a Sonoco and Clemson University initiative to develop new technologies and new forms of packaging to optimize the fresh food lifecycle, is pleased to host a series of events focused on innovations in packaging. With the theme of “Safe. Secure. Sustainable.,” the February 2021 Summit, hosted on the campus of Clemson University, will offer a unique opportunity to stimulate high impact discussions on how the issues associated with each part of the food value chain can be used as opportunities to drive business and benefit society. Attendees, industry and academic experts will participate in presentations, panels and roundtables to foster knowledge growth and solutions. Registration for the Summit will open in late summer 2020. In preparation of the Summit, Sonoco FRESH will host sneak peek webinars September 22-23, 2020.

Second Quarter Highlights include (all results compared to the second quarter of 2019 unless otherwise noted): *Net income of $11.4 million or $0.19 per diluted Class A share decreased compared to net income of $13.6 million or $0.23 per diluted Class A share. Net income, excluding the impact of adjustments(1), of $56.5 million or $0.95 per diluted Class A share increased compared to net income, excluding the impact of adjustments, of $47.6 million or $0.81 per diluted Class A share. Adjusted EBITDA(2) increased by $19.3 million to $181.3 million. *Net cash provided by operating activities increased by $37.6 million to $99.8 million. Adjusted free cash flow(3) increased by $32.9 million to $79.0 million. *Total debt decreased by $260.2 million to $2,682.3 million. Net debt(4) decreased $242.8 million to $2,609.9 million and decreased $107.4 million sequentially from the first quarter of 2020.

Committed to bringing innovative and sustainable solutions to the market, Klabin, Brazil’s largest producer and exporter of packaging paper and paper packaging, has developed a new version of its paperboard Klamulti, designed for beverage packaging (multipack), which now has microfibrillated pulp (MFC) in its composition. This innovation, led by the Product Development and Technology Center teams at Klabin, was produced at the MFC plant located in Telêmaco Borba, Paraná. Experiments proved that the addition of MFC in the paperboard composition significantly improves the product’s properties and performance while also reducing grammage. As such, the new solution is capable of creating lighter and more resistant packaging, enhancing the efficiency of the material. The MFC production process develops the microfibrillation of the walls of pulp fibers, enabling a wider connection area between them, thereby increasing the paper’s mechanical strength.