Metsä Board achieves Platinum level sustainability rating from EcoVadis again

Sealed Air Corporation announced a three-year partnership with Gastromotiva, a nonprofit organization based in Brazil that uses the power of gastronomy, food, and education to address social inequality, improve nutrition education, fight hunger, eliminate food waste, and create local jobs. Since 2006, Gastromotiva has served more than 500,000 meals, recovered more than 220,000 pounds of food and engaged more than 100,000 people worldwide in nutrition education. Sealed Air’s investment will empower Gastromotiva to achieve food security goals that align across three pillars: *Education: Sealed Air and Gastromotiva will co-create a global education module on sustainable packaging and food waste reduction for students to learn more about innovations that minimize food waste. *Workforce Development: Sealed Air and Gastromotiva will develop a system to connect low-income youth and other vulnerable populations with Gastromotiva partners for job opportunities and career development. *Expansion: Gastromotiva will standardize its educational methodology and develop an integrated educational platform for expansion to strategic locations in Brazil and Mexico, which will ensure vulnerable communities have access to the Gastromotiva network of NGOs and partners working to create a sustainable food system.

Net sales for the fourth quarter were $1.4 billion, an increase of $67.5 million, or 5.2 percent, from last year’s quarter. Sales grew during the quarter due to strong volume gains, higher selling prices and acquisition sales net of divestitures. Because of the Company's accounting calendar, the fourth quarter of 2020 included two additional days when compared to the prior year quarter. The GAAP net loss attributable to Sonoco in the fourth quarter was $(11.6) million, or $(0.12) per diluted share, a decrease of $56.5 million, compared with GAAP net income of $44.9 million, or $0.44 per diluted share, in 2019. Base earnings in the fourth quarter were $83.0 million, or $0.82 per diluted share, an increase of $6.6 million, compared with $76.4 million, or $0.75 per diluted share, in 2019.

Sonoco announced the completion of its inaugural offering of green bonds to support the Company’s sustainability strategy. The green bonds total $1.2 billion aggregate principal amount of unsecured notes, consisting of $400 million aggregate principal amount of 1.80% Notes due 2025, $300 million aggregate principal amount of 2.25% Notes due 2027, and $500 million aggregate principal amount of 2.85% Notes due 2032. “We are proud to have successfully placed our first green bonds, one of the largest such offerings in the U.S. packaging industry,” said Julie Albrecht, Vice President and Chief Financial Officer. “Sonoco is dedicated to operating with sustainability at the forefront of our strategy and committed to making investments to expand circular economy adapted products.” Sonoco intends to allocate an amount equal to the net proceeds from the offering, together with borrowings under a new term loan facility and its commercial paper program, to fund the $1.35 billion cash consideration payable in connection with its previously announced plans to acquire Ball Metalpack, a leading manufacturer of sustainable, permanently recyclable metal packaging. The acquisition of Ball Metalpack qualifies as an Eligible Project under Sonoco’s Green Financing Framework. Further details on Sonoco’s Green Financing Framework are available on the Company’s website.