Ox industries makes $5 Million Invenstment in High-Speed Converting Technology

Mondi, a global leader in packaging and paper, and Henkel are helping consumers to wash dishes more sustainably by creating a completely new reuse packaging concept. The two companies worked together on a packaging solution for Henkel’s hand dishwashing products that allows refilling plastic bottles from flexible pouches. This supports Henkel’s sustainability targets of making 100% of its packaging recyclable or reusable and reducing 50% of fossil-based virgin plastic by 2025. Since January, consumers can purchase a new keep-at-home refillable pump dispenser with refills in the lightweight, mono-material pouch produced by Mondi. The flexible stand-up pouch reduces plastic by 70% every time it replaces rigid plastic bottles and is easy to recycle where existing infrastructure exists. Convenient and lighter to carry home, the pouch completely empties thanks to its shaped design, leaving no residue. It is soft touch with a sturdy base so it can easily stand in-store, offering retailers attractive and eye-catching on-shelf appeal while also communicating all the brand information including sustainability benefits. Mondi’s leak-proof pouch is certified according to ISTA 6, providing a highly durable packaging for both in-store and online shopping.

Mondi has expanded its range of saturating kraft paper and increased capacity, in order to improve and enhance its service to manufacturers of internal and external building panels, worktops, furniture and technical films. With the previously announced investment in a new paper machine at its Štĕtí plant in the Czech Republic and further increases in production efficiency, Mondi will optimise capacity across its mill network, providing increased production of its saturating kraft, Advantage MF Boost, at Mondi Frantschach in Austria and Mondi Dynäs in Sweden. Both Frantschach and Dynäs mills are ideally placed to deliver short lead times across Europe and provide customers with reassurance of good service and production back-up. These changes signal Mondi's commitment to increase the availability of Advantage MF Boost – the kraft paper that is used in laminated applications.

Summary: *Generated $166 million of operating cash flow and $80 million of Free Cash Flow *Achieved net income attributable to Sonoco of $65 million; higher productivity of $51 million partially offset price/cost pressures and lower volumes *Completed the sale of Protective Solutions on April 1, 2024, as part of our strategy to simplify our portfolio and used the majority of the $82 million cash proceeds to pay down debt *Entered a Virtual Power Purchase Agreement (“VPPA”) to contract a significant portion of Sonoco’s expected U.S. electricity consumption in 2025 and support Sonoco’s emissions reduction goals