UPM Raflatac launches OptiCut™ WashOff linerless label to promote plastic packaging reuse

*Record first quarter net sales of $5.0 billion increased 12.5% year-over-year *Net income of $182 million increased 19.9% year-over-year *Consolidated Adjusted EBITDA of $680 million increased 1.6% year-over-year *Earned $0.68 per diluted share (“EPS”) and Adjusted EPS of $0.65, up 19.3% and 6.6%, respectively

Due to uncompetitive wood prices from the Polish State Forestry Monopoly and significantly reduced market demand for paper and cardboard products, the company has decided to significantly reduce the planned multi-year strategic investment project at MM Kwidzyn with a focus on energy, further pulp integration and product portfolio, which was announced at the end of April 2023 . MM Kwidzyn will instead focus investments on further increasing its already high share of renewable energy from the current 69%. In addition, discussions were started with employee representatives about a possible closure of the small paper machine (PM 3) for packaging kraft paper and about restructuring, which could lead to a reduction in the workforce of around 110 employees. MM Kwidzyn will continue pulp and virgin fiber board production unchanged. In the paper sector, the PM 1 and PM 2 paper machines will continue to produce up to 360,000tpa of uncoated fine paper and 40-80,000tpa of “IPACK TM Strong Pro” (packaging kraft paper). Since one of the fine paper machines has not been converted, no sack kraft paper will be produced in Kwidzyn.

Mondi Industrial Bags, in collaboration with its customer and cement producer LafargeHolcim, has created SPLASHBAG – a paper-based solution designed to satisfy the need of dealing with materials that are often exposed to wet conditions or environments. The product has been developed as a direct response to the customer’s packaging needs in this area, and is suitable for the protection of moisture-sensitive filling goods, including building materials, chemicals and pharmaceuticals. Having successfully launched in Europe, the product is now gaining traction in many other markets around the world. Based on Mondi`s Advantage Protect sack kraft paper – a grade that offers both a water-repellent surface and high wet tensile strength – the bag maintains high strength even in wet environments. Thanks to its bespoke benefits, within the last year SPLASHBAG has quickly gained global recognition – from Azerbaijan and Bulgaria to France and La Réunion. The key to SPLASHBAG‘s success lies in its enhanced sack kraft paper properties – absorbing less moisture than conventional paper bags and maintaining both integrity and product quality. Click Read More below for additional detail.