International Paper Acquires Two Corrugated Packaging Plants in Spain

UPM Raflatac is extending its range of film face materials for the European market with a new plant-based material that provides a sustainable alternative to fossil-based films for a wide variety of end uses. RafBio PE 85 performs just like standard PE film, and its excellent flexibility makes it ideal for the squeezable bottles and contoured containers that are widely used in home and personal care applications. Part of the RafBio family of bio-based labeling solutions, RafBio PE 85 is the ideal choice for customers who are looking for a sustainable film face material that will reduce greenhouse gas emissions during its life cycle, compared to conventional PE, while still keeping products looking their very best. Made from sugarcane ethanol, the film contains more than 80% renewable plant-based raw material and is recyclable within the same recycling streams as fossil-based PE. Click Read More below for additional detail.

The American Forest & Paper Association (AF&PA) has released the December 2022 Packaging Papers Monthly report. According to the report, total U.S. packaging papers & specialty packaging shipments in December decreased 13% compared to December 2021. Total packaging papers & specialty packaging shipments were down 4% for the year compared to 2021. Shipments of the biggest subgrade in bleached packaging papers — food wrapping — were 27,000 short tons for the month of December. Unbleached packaging papers & specialty packaging shipments in December decreased 12% compared to December 2021. They were down 2% for the year compared to 2021.

Fourth Quarter 2023 Financial Highlights: *Total Net Revenues of $1,274 million for the fourth quarter of 2023 were down 14% compared to $1,476 million in the fourth quarter of 2022 and down 8% compared to $1,379 million in the third quarter of 2023. *Net Income from continuing operations of $22 million for the fourth quarter of 2023 compared to $27 million in the fourth quarter of 2022 and $28 million in the third quarter of 2023. Full Year 2023 Financial Highlights: *Total Net Revenues of $5,510 million for the year ended December 31, 2023 were down 11% compared to $6,220 million in the prior year. *Net Loss from continuing operations of $222 million for the year ended December 31, 2023 compared to net income from continuing operations of $319 million in the prior year.