Sonoco Announces Price Increase for Paperboard Tubes and Cores

UPM Raflatac is introducing four new food-safe labeling products to the European market. This will expand the company's food labeling range, providing a wider range of material options for brand owners and packaging designers. All four products meet the European Union's stringent requirements for food safety. Synthermal Clear Plus is a high-clarity direct thermal film that provides excellent product visibility for a no-label look on food packaging. Demonstrating a clear commitment to product safety, the film is Bisphenol A (BPA) and Bisphenol S (BPS) free - taking the European Union legislation that requires thermal paper sold in Europe to be BPA free after 2 January 2020 one step further. Synthermal Clear Plus has excellent convertibility with a great deal of flexibility for process improvements at the printer. Click Read More below for additional information.

International technology group ANDRITZ has received a repeat order – now the third order within the past 12 months – from Nine Dragons Paper Industries to supply a complete OCC line to China. Start-up is scheduled for the third quarter of 2023. The highly energy-saving stock preparation system will have a design capacity of 2,000 bdmt/d and will process 100% LOCC (Local Old Corrugated Container) for the production of high-quality packaging paper.

Charles Héaulmé, President and CEO: Market conditions started to improve during the third quarter. While the situation improved compared to the first half of the year, the pace was moderate with differences between categories and geographies. Demand for pre-packed on-the-shelf food increased, particularly in egg packaging and in a volatile market, demand for flexible packaging continued to improve. Food-on-the-go volumes remained subdued, with consumers still feeling the impact of inflation and elevated market prices. The foodservice market has progressed more positively in North America than in other regions. The on-going war in the Middle East continued to affect global brands in some markets in the Middle East and Asia. Our comparable net sales remained at the previous year’s level in the third quarter and decreased by 1% during the first nine months of the year. During the third quarter, sales volumes increased while pricing pressure continued. Adjusted EBIT increased by 2% in the third quarter and 8% during the first nine months of the year with an improved adjusted EBIT margin reaching 10%. The profitability development was supported by our actions to improve efficiency. Free cash flow remained strong, reaching EUR 160 million at the end of the third quarter. While continuing to focus on future growth, the investments level was contained, enabling further reduction of net debt and resulting in a net debt to adjusted EBITDA ratio of 2.0. During the quarter, North America continued to deliver profitable growth, maintaining a strong adjusted EBIT margin. Flexible Packaging profitability continued to improve. Foodservice E-A-O margins were negatively impacted by low demand. Fiber Packaging profitability was weighed on by a lag in pricing, as raw material costs increased.