Menasha Packaging Signs Agreement to Acquire Georgia-Pacific’s Color-Box Business

BillerudKorsnäs has been awarded the Climate Prize as part of the supplier engagement initiative “Join us in protecting the planet”, driven by Tetra Pak. The company, which is one of BillerudKorsnäs’ most important customers, launched this initiative last year to create a movement aimed to accelerate sustainability actions across its value chain. “We commit to making safe food available, everywhere. And we promise to do that in a way that protects what’s good: protecting food, people and the planet. In order to shape the future with secure and sustainable food systems we are decarbonizing the materials we use as well as the production processes, and the key ingredient for success here is collaboration. Our supply partner BillerudKorsnäs has achieved the lowest greenhouse gas emissions for the products provided to us and has submitted the most ambitious climate action plan, that is approved by the Science Based Targets initiative in line with a 1.5°C pathway. By doing this, they are one step ahead and this award recognises that they are leading by example in fighting climate change,” says Lars Holmquist, Executive Vice President for Sustainability & Communications at Tetra Pak.

Sonoco-Alcore S.a.r.l. announced it will raise prices for paper-based tubes and cores by 7%. The increases will be applied individually and depending on product category, effective from shipments beginning on 18th, January 2021. “These adjustments are critical to manage continued increases in cost across the business. To date, we have absorbed these costs by further manufacturing footprint optimisation and supply chain activities, but with continued inflation, we must now pass this on to our customers. To secure materials, we must act quickly so we can maintain the strong supply chain our customers need and value from Sonoco,” said Karsten Kemmerling, Director of Sales and Marketing – Tubes and Cores, Europe.

Q1 2022 Highlights *Net Sales were $2,245 million versus $1,649 million in the prior year quarter. *Net Organic Sales increased 3% versus the prior year quarter driven by increased demand for innovative fiber-based packaging solutions and expansion into new market segments and geographies. *Net Income was $107 million versus $54 million in the prior year quarter. *Integration of recently expanded European platform continued; on track to deliver $40 million of synergies over three years. *New K2 Coated Recycled Paperboard (CRB) machine in Kalamazoo, Michigan began operating and the ramp in production is meeting expectations; on track to achieve $50 million in incremental EBITDA in 2022 and $130 million in incremental EBITDA over three years. *Global liquidity was $1,078 million at quarter end.