Plastic extruder to expand in Moore County with $7M investment

Kevin Kwilinski, Berry’s CEO said, “Our strong financial results in the quarter were consistent with our expectations and our teams executed very well. Notably, we achieved a 2% increase in overall organic volumes, with each four operating segments delivering low-single digit volume growth. At the same time, we delivered a solid increase in our operating EBITDA margins, which were 110 basis points higher than the previous year. We place a high value on honoring our commitments and excellence in execution. This quarter, I’d like to emphasize our team’s outstanding performance in achieving volume and earnings growth, as well as our progression in reducing our leverage and optimizing our portfolio. We are confident in the strength of our underlying businesses, our customer value proposition, and our execution capabilities. We expect business momentum to continue as we demonstrated in the June quarter, including delivering, low-single digit volume growth in the fiscal fourth quarter and exiting fiscal 2024 at or below our 3.5x leverage target. I am excited by the attainable growth and operational excellence opportunities ahead. We’re focusing on three key efforts: optimizing our portfolio to accelerate growth and deleveraging, implementing our lean transformation, and driving growth by enhancing our commercial excellence.”

Mondi is supplying zooplus with a pre-made FlexiBag Recyclable and BarrierPack Recyclable form-fill-and-seal (FFS) reel material, which are both certified recyclable by the Institute cyclos HTP which specialises in the classification, assessment and certification of recyclability of packaging. While seeking greater recyclability for its packaging, the online retailer was not willing to compromise on any performance properties, including barrier protection, or aesthetics. Mondi’s materials provide all the necessary barrier properties to protect against the unwanted transmission of moisture, oxygen and odours with a high premium look and feel. Mondi’s expertise made it possible to maintain the desired aesthetics on the packaging, so that the previously metallised highlights on the label and in the eyes of the wolf are also recyclable.

The Mayr-Melnhof Group has reached an agreement that International Paper Holding sp. zoo ("Kwidzyn") from International Paper for around EUR 670 million and to assume additional liabilities of around EUR 33 million from usufructuary rights and operating leases according to IFRS. The acquisition of Kwidzyn is part of MM's strategy to grow in the high-quality virgin fiber board (FBB) sector with innovative, sustainable and cost-effective qualities. The planned transaction will have an immediate impact on earnings. At the integrated pulp and paper site in Poland, Kwidzyn operates a pulp mill with a capacity of around 400,000 t pa and four connected cardboard/paper machines: the core is an FBB board machine with a capacity of 260,000 t pa.