DS Smith to acquire Serbian packaging company, Bosis doo

The net sales increase of $161 million from the prior year quarter was primarily attributed to acquisition net sales of $106 million, selling price increases of $59 million due to the pass through of higher resin prices, and a $34 million favorable impact from foreign currency changes, partially offset by a 2% base volume decline. The operating income increase of $13 million from the prior year quarter was primarily attributed to acquisition operating income of $20 million, a $13 million decrease in selling, general and administrative expense due to synergies and cost reductions, a $7 million decrease in depreciation and amortization, and a $5 million favorable impact from foreign currency changes, partially offset by a $22 million negative impact from under recovery of higher cost of goods sold, and a $7 million negative impact from lower base volumes, and a $3 million increase in business integration expenses. Click Read More below for additional information.

CANPACK Group and BA Glass announce that on April 2nd they have finalized the sale of CANPACK’s Glass operations in Poland to BA Glass. Consequently, the glass plant located in Orzesze was transferred to BA Glass and became part of its operations in Poland. Marius Croitoru, CANPACK Group CEO stated: “As we close this transformative chapter with the sale of CP Glass assets, we are strategically aligning our focus on our core businesses and maximizing value for our stakeholders. The proceeds from this transaction will empower CANPACK to further support our general corporate objectives. We extend our heartfelt acknowledgments and best wishes for continued success to our former colleagues. Together, we’ve built a legacy, and we look forward to their great success as part of BA Glass.” Tiago Moreira da Silva BA Glass CEO added: “For BA Glass Group this acquisition fulfills an objective long waited for the group in Central Europe. To have a greater representation in the market and to diversify its portfolio of products has always been limited to our capacity, now, with CP Glass, we will be able to do it and better serve the Central European market. We are happy to have finalized this operation and eager to start integrating CP Glass in our values and vision.”

Diversified Labeling Solutions (DLS) has expanded its RFID label offerings to help its distributor customers meet demand. DLS’ RFID expansion includes: • In-house RFID label conversion capabilities • Ready-to-ship stock RFID labels • Service bureau RFID label encoding/printing services • Dedicated RFID Product Manager • RFID label training. Driving DLS’ RFID label expansion is the significant increase in demand, largely due to RFID label mandates from major retailers, including Walmart, Dick’s Sporting Goods, and Macy’s.