Metsä Board scores 91/100 and Platinum level in EcoVadis rating

Sonoco Products Company announced the completion of its acquisition of the remaining equity interest in RTS Packaging, LLC (“RTS”) from joint venture partner WestRock (NYSE:WRK) and one WestRock paper mill in Chattanooga, Tennessee. The acquisition, originally announced on November 9, 2022, will further strengthen and expand Sonoco’s 100% recycled fiber-based packaging solutions to serve growing consumer wine, spirits, food, beauty and healthcare markets. Prior to closing the transaction, Sonoco was a 35% owner in the joint venture with WestRock. With this acquisition, Sonoco adds a network of 15 operations and 1,100 employees in the U.S., Mexico, and South America. The purchase price for this acquisition was $330 million, subject to customary price adjustments. The Company funded the acquisition with borrowings under its existing credit facilities and cash on hand. After the transaction, the Company’s net debt to adjusted EBITDA ratio is less than 2.9x. The acquisition is expected to be immediately accretive to earnings per share, excluding the impact of purchase accounting adjustments.

Smurfit Kappa Group, one of the world's largest integrated manufacturers of paper-based packaging products with operations in Europe and the Americas, is pleased to announce that it has completed the acquisition of Cartonbox, a folding carton company located in Monterrey, in the north-east of Mexico. The acquisition represents an important milestone for the Company as it strengthens its participation in the paper packaging solutions business in Mexico, expands its footprint to four folding carton locations in the country, and reaffirms its commitment to paper-based packaging as the core strategic business for the Company.

Mondi will open its new state-of-the-art paper bags plant in Cartagena, Colombia in January 2021. It will be Mondi’s first operation in South America, reinforcing the group’s strength as a global paper bags supplier with a wide local footprint. The new plant will enable Mondi to improve and grow its services to better serve customers in the region. South America is home to more than 250 cement plants requiring up to two billion cement bags per year. Cartagena is a strong location for the new plant, set up in a free-trade zone with good access to ports in Panama, the east coast of the United States, the Gulf of Mexico and other Caribbean ports. "Our global network already includes 39 plants across 22 countries. We are excited to be expanding our footprint to Colombia, helping us to provide innovative, sustainable and customer-focused paper packaging solutions to customers in South America who share our commitment to quality." Claudio Fedalto, Chief Operating Officer Paper Bags, Mondi