Liberty Coca-Cola Beverages, a local Coca-Cola bottler serving Philadelphia, New Jersey and New York City, and WestRock will collaborate to implement a paperboard carrier that replaces plastic rings for its multipack bottled beverages. WestRock’s PETCollar™ Shield Plus paper-based packaging will be used at Liberty’s Philadelphia production facility to package Coca-Cola’s top brands in multipacks. The 12 ounce (355 millileter) and 16.9 ounce (500 milliliter) products packaged with the durable, easy-to-hold carriers will be distributed throughout Liberty’s multi-state territory. Liberty Coca-Cola Beverages will be the first bottler in the world to implement the PETCollar Shield Plus bottle clip solution. “We’ve made it our mission to invest in technology that produces recyclable beverage containers that can return to our system while significantly reducing the need for secondary plastic packaging,” said Fran McGorry, co-owner of Liberty Coca-Cola Beverages. “We know the most valuable change to reduce plastic waste occurs when bottlers and packaging producers work together. We are proud to partner with WestRock to make this change.”

Huhtamaki accelerates strategy implementation by starting a program which is expected to materially support the profitability of Huhtamaki with efficiency improvements leading to savings of approximately EUR 100 million over the next three years. All cost levers will be addressed including potential restructuring to a more optimal manufacturing footprint, reducing input costs at an accelerated pace, and improving productivity globally. The costs of the program are expected to be approximately EUR 80 million, which upon materialization will be treated as items affecting comparability. The program’s performance will be monitored and communicated on a regular basis. Huhtamaki’s updated 2030 growth strategy was announced in March 2023. It is focused on scaling the profitable core for growth, innovating in sustainable packaging solutions for additional growth, and delivering world-class operational performance. With this updated strategy the Company raised its long-term financial ambition to grow 5-6% p.a., reach 10-12% adjusted EBIT%, and deliver 13-15% adjusted ROI.

CANPACK Group and BA Glass announce that on November 28th they have entered a definitive agreement whereby CANPACK Group will transfer its CP Glass operations in Poland to BA Glass. Consequently, the CP Glass plant located in Orzesze will be incorporated into the existing glass operations of BA Glass in Poland where BA operates two plants located in Sierakow and Jedlice. The parties are committed to ensure a smooth transition of the CP Glass operations and employees into the BA Glass organization in Poland. This agreement, which is pending customary merger control approval from the Polish competition authority and other customary closing formalities, is anticipated to be completed during the first half of 2024. Marius Croitoru, CANPACK Group CEO stated: “CP Glass is a strong niche manufacturer of glass bottles for beverages, and we are confident that our CP Glass operations and team will find a new home with BA Glass, one of the world leaders in the manufacture of glass packaging. With this sale, CANPACK Group will continue to focus its resources on its core businesses.”

Smurfit Kappa has launched its new SupplySmart digital solution, which helps businesses to intelligently adapt their packaging to increase efficiency and reduce emissions across their supply chains. SupplySmart has evolved to tackle increased supply chain complexities and uncertainty in a world which has seen one supply chain disruption after another. Using insights from the analysis of over 100,000 supply chains, it identifies opportunities for optimisation across the entire length of the supply chain. Its new digital twin feature also allows businesses to test their updated packaging in a virtual environment to eliminate risks ahead of implementation. Leading German consumer goods company Henkel partnered with Smurfit Kappa to launch a compact and sustainable paper-based alternative to plastic packaging. SupplySmart was used to build a digital model of Henkel’s supply chain to achieve the company’s goals of reducing CO2 emissions while introducing a more user-friendly and compact pack.

The European Investment Bank (EIB) has signed a SEK 1.3 billion (approximately €110 million) loan agreement with Swedish company Billerud, a world-leading paper and packaging materials supplier. The loan supports investments in the modernisation and upgrade of a bioproduct mill, including the replacement of a recovery boiler. The upgrades are well anchored in Billerud’s sustainability strategy and will secure high environmental performance for the mill, with increased energy and resource efficiency. Materials made at Frövi mill are used in various packaging applications, with a particular focus on food and beverage packaging — an area that has strict requirements in terms of durability and hygiene standards. Fibre-based packaging has the advantage of being fossil-free, recyclable, and biodegradable — features that set it apart from fossil-based types of packaging. Materials produced by Billerud can be recycled many times and made into recycled board, before finally being used for energy production.

With the ongoing development of the United Nations Treaty on Plastic Pollution, governments from over 170 nations are working toward policy measures to combat the negative environmental impacts of hard-to-recycle plastics. The introduction of bans, levies, and increased disposal fees for EPS packaging materials will continue to be on trend for the foreseeable future, especially in regions lacking recycling infrastructure. Corrugated packaging solutions are 100% recyclable and 100% compostable, making them the ideal packaging material. What’s more, Mondi’s corrugated packaging solutions includes a wide portfolio of corrugated boxes made of recycled fibres. Paper-based packaging boasts an impressive 82.5% recycling rate in Europe, outperforming the combined recycling rates of all other packaging materials.7 The recycling value of corrugated packaging has enormous potential worldwide. Paper fibre can be recycled with good quality many times, keeping fibres in circulation.8,9

The project to expand folding boxboard production capacity has been completed at the Husum integrated pulp and paperboard mill in Sweden. With the modernisation of the board machine 1 (BM1), the annual production capacity of folding boxboard (FBB) will be increased by 200,000 tons to reach 600,000 tons. This will make the Husum BM1 the largest, and most modern, paperboard machine in Europe and further strengthen Metsä Board’s position as the leading European supplier of folding boxboards. The expansion of folding boxboard capacity is in response to the growing demand for packaging materials made of renewable resources. The BM1 produces folding boxboards that are lightweight, without sacrificing strength properties, which saves on raw materials usage and helps to reduce the carbon footprint of packaging.

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.

The third-party certification verifies mass balance chain of custody and traceability from raw materials to finished products. Given this, Pregis can produce films classified as advanced recycled (circular, bio-circular and/or bio-based). Ryan Wolcott, chief sustainability officer, explains the significance of this achievement, "Obtaining ISCC PLUS certifications for two additional facilities is a pivotal step in furthering our circular economy goals. This certification validates our ongoing investments in product development and our commitment to sustainability and lowering greenhouse gas emissions. This step represents one more path toward overcoming plastic waste and our goals of incorporating recycled content into our products through both mechanically recycled and advanced recycled sources."

TC Transcontinental announced that it will be phasing out operations at its Tomah (WI) packaging plant in anticipation of the complete closure of the facility in early February 2024. Operations will gradually be transferred to TC Transcontinental Packaging’s plants in Battle Creek (MI), Clinton (MO), Elgin (IL), Lenexa (KS) and Spartanburg (SC) to ensure a smooth transition for customers and maintain high-quality service. “In line with our priority of optimizing the return on our assets, reducing costs and improving operational efficiency, we have made the decision, after thorough consideration, to close our Tomah, Wisconsin, plant. Servicing our customers in the most competitive manner is something we are constantly evaluating and taking action on,” said Jeff Lasley, Senior Vice President, Dairy, Protein and Pet Food (DPP), Latin America and New Zealand, TC Transcontinental Packaging.

Pactiv Evergreen Inc. released its latest Environmental, Social and Governance Report, 'Packaging a Better Future,' sharing progress toward the Company’s ambitious goals in 2021 and 2022. The report highlights advancements across the Company's three strategic ESG pillars – Protect Our Planet’s Resources, Deliver Sustainable Products Essential to Consumers and Value Our People and Communities, supported by strong ESG governance practices. “Our commitment to sustainability is foundational to our Purpose of Packaging a Better Future and is guided by our Value to Do What’s Right to deliver sustainably manufactured products with ethics and integrity,” said Mike King, President and Chief Executive Officer of Pactiv Evergreen. “Every day we strive to operate with respect for the environment and are dedicated to sustainability across our product portfolio, manufacturing and supply chains.”

Matrix Pack, a leading global provider of fiber-based food packaging products and solutions, partnered with Stora Enso’s Fiber as a Service (FaaS) to successfully accelerate the time-to-market of their molded fiber range. Fiber as a Service helps converters broaden their offering, assisting them with everything needed from education to support, tools, recipes, and a broad network of suppliers. To help converters broaden their offerings with molded fiber products, Stora Enso has launched Fiber as a Service. Also called: FaaS, an all-in-one service to help converters with wet and dry molding of, for example, cup lids, bowls, cutlery, and other similar products. Whether it is about getting started or scaling up production, FaaS by Stora Enso can help with material supply, consultancy, and tooling. The idea is to support converters produce molded fiber products to meet regulations and serve consumer demand.

Clearwater Paper Corporation announced a collaboration with Charter Next Generation (CNG) for an early-to-market initiative to include advanced recycled polyethylene in Clearwater Paper's private label tissue packaging offerings. Advanced recycling includes difficult-to-recycle waste plastics converted into new plastics that perform like virgin materials. The purchase of this material in the place of traditional resins helps to give new life to some plastics otherwise headed to landfills. "CNG is providing a competitive edge and is leading the way in transforming waste plastics into useful products. This advancement is critical to our success in meeting and exceeding sustainability goals for Clearwater Paper," said Mike Urlick, senior vice president and general manager, consumer products at Clearwater Paper.

Fourth Quarter Highlights *GAAP: Net sales of $3.1 billion; Operating income of $301 million; Earnings per share (EPS) of $1.55 *Returned $216 million to shareholders ($185 million via share repurchases and $31 million in dividends). Fiscal Year Highlights *GAAP: Net sales of $12.7 billion; Operating income of $1.1 billion; EPS of $4.95 *Cash flow from operations of $1.6 billion; Free cash flow of $926 million *Returned $728 million to shareholders ($601 million via share repurchases and $127 million in dividends)

Eco-Products® announced today that it has been recertified as a B Corporation, once again achieving the coveted distinction for meeting “high standards of social and environmental performance, accountability and transparency.” This is the third time the company has gone through the rigorous certification and verification process. To achieve this distinction, Eco-Products met score requirements of the B Impact Assessment, which rates business factors such as employee benefits, civic engagement, DE&I initiatives, product environmental benefits and the impacts of business operations.

Vegware™, a leading provider of compostable foodservice packaging solutions, is thrilled to announce its first certification as a B Corporation. This prestigious recognition reflects Vegware’s commitment to ethical and responsible business practices that benefit both society and the environment. The certification is a testament to Vegware’s dedication to fostering positive change. By meeting rigorous social and environmental performance standards, Vegware has joined a global community of businesses that prioritises environment, people, community and also purpose.

Following successful commercial consumer testing in 2022, Tetra Pak and Lactogal have now launched an aseptic beverage carton featuring a paper-based barrier. This is part of a large-scale technology validation, involving around 25 million packages and currently ongoing in Portugal. Made of approximately 80% paperboard, the package increases the renewable content to 90%, reduces its carbon footprint by one third (33%1) and has been certified as Carbon Neutral by the Carbon Trust™.2 Greenhouse gas emissions, food waste and plastic littering are cited as the top three environmental sustainability concerns facing food and beverage (F&B) businesses today, and this is expected to remain the case over the next five years.3 Packaging solutions like these, that expand the amount of paper and lower the carbon footprint, while ensuring food safety, can help the industry overcome these challenges.

Trioworld launched the first ever Post-Consumer Recyclates (PCR) based bale wrap in Agritechnica 2019, the world’s largest agricultural exhibition. With more than five million bales successfully wrapped in high-performance bale wrap made of recycled content since then, Trioworld now displays a full assortment of premium products for baled silage with recycled content at Agritechnica 2023. “We believe that this is the bale wrap of the future”, says Anders Larsson, Product manager Agricultural stretch films at Trioworld. “The performance is just as we want it. Silage quality and wrapping performance have proven to be on equal level as with our premium products without PCR. The fact that five million bales have been successfully wrapped with our bale wrap containing recycled material is just additional proof that it really does work”, he continues.

Norske Skog announced that the start-up of the rebuilt PM 1 at its Golbey mill in France will we delayed and has been again postponed from Q2 2024 to the second half of next year due to delivery delays. In addition, the net investment amount for the conversion project will increase from €265m to €300m, primarily due to increased purchase prices for goods and services as well as somewhat delayed deliveries of equipment. In July this year, the company had postponed the start-up to Q2 2024 in order to align it with the commissioning of the new biomass boiler. The Golbey project is to convert PM 1 from newsprint to recycled containerboard production. The rebuilt paper machine will have an output capacity of 550,000 tpy, and Norske Skog expects the machine to run at 95 per cent of full capacity within two to three years after start-up. PM 1 formerly produced up to 250,000 tpy of newsprint and was stopped in the fourth quarter of 2022 to commence the rebuild.

Smurfit Kappa has developed a recyclable film to replace the nylon which is commonly used in bag-in-box products, particularly in the US. Nylon bags are often used in bag-in-box packaging which requires extra protection, for example motor oil or detergents or large industrial-use food bags. Nylon is also sometimes chosen when there is particularly long or complex supply chain. Smurfit Kappa Bag-in-Box has developed a polyethylene film which has similar properties to nylon, in terms of strength and resilience but, unlike nylon, is recyclable. Massimiliano Bianchi, COO of Smurfit Kappa Bag-in-Box, commented: “Our new Lx polyethylene film is much better for the planet because polyethylene is the most developed recyclability stream in the flexible packaging sector.

Trioworld, a leading producer of innovative, high-performance plastic packaging solutions in Europe and North America with its head office in Sweden, is proud to announce that it has once again received the EcoVadis Platinum medal, the highest-level of recognition from EcoVadis, a leading provider of business sustainability ratings. “I am again truly honoured by this third consecutive EcoVadis Platinum medal”, says Andreas Malmberg, CEO of Trioworld Group. “This acknowledgement of our ambitious sustainability agenda and performance is of great value to us as well as to our customers. Cooperation and credibility are essential components if we are to achieve sustainable value chains, that include flexible plastic packaging, to accelerate the journey towards a circular economy for plastics.” continues Andreas Malmberg. “The EcoVadis Platinum medal helps us to provide our stakeholders with a deeper understanding of our ESG practices by demonstrating our sustainability performance through a scorecard. And it encourages us to continuously improve our processes and performance,” says Andreas Malmberg.

Paper and paper-based packaging manufacturers in the United States have renewed their commitment to sharing the industry’s successful sustainability story by continuing support for the Paper and Packaging Board program. In a recent referendum, 53 percent of domestic manufacturers and importers — who represented 53 percent of the volume of paper and paper-based packaging voting in the referendum — voted in favor of continuing the Paper and Packaging Board program. The decision comes in time for America Recycles Day on Nov. 15, another opportunity to highlight paper’s unmatched recycling record.

“Being acknowledged by AF&PA and receiving this award for PawPrint® Pet Food Packaging is a great achievement. It demonstrates how we are living up to our purpose to purify and protect with every fiber for a sustainable world by innovating more sustainable solutions,“ says Mark Ushpol, Executive Vice President for Ahlstrom’s Food and Consumer Packaging division. Ahlstrom’s PawPrint® papers provide pet food brand owners functional and visually appealing pet food packaging, eliminating plastic and using fiber-based materials, while helping pet food manufactures achieve their sustainability metrics. They are made from renewable materials and are recyclable and compostable. What makes the product truly unique is that it is produced with Ahlstrom’s FluoroFree® proprietary technology, making it fully grease-resistant without the use of PFAS compounds. Ahlstrom’s next generation of PawPrint® packaging solutions additionally ensure pet food shelf-life requirements are met while achieving pet-palatability test results for the most distinguished of pet consumers.

*Earnings before interest, taxes, depreciation and amortization ("EBITDA") from ongoing operations for Aluminum Extrusions was $5.1 million in the third quarter of 2023 versus $12.1 million in the third quarter of last year due to sluggish market conditions. EBITDA from ongoing operations during the last four quarters has been weak, in a range of $5.1 million to $14.6 million. -Sales volume of 32.5 million pounds in the third quarter of 2023 declined significantly versus 45.5 million pounds in the third quarter of last year. -Open orders at the end of the third quarter of 2023 were approximately 17 million pounds (versus 20 million pounds at the end of the second quarter of 2023), which is below the quarterly range of 21 to 27 million pounds in 2019 before pandemic-related disruptions that resulted in excessive open orders, which peaked in the first quarter of 2022 at approximately 100 million pounds. *EBITDA from ongoing operations for PE Films was $4.0 million in the third quarter of 2023 versus $0.4 million in the third quarter of 2022. EBITDA from ongoing operations during the last four quarters has been low with a range of negative $2.6 million to positive $4.0 million. *EBITDA from ongoing operations for Flexible Packaging Films (also referred to as "Terphane") was $0.5 million during the third quarter of 2023 versus $7.8 million in the third quarter of 2022 primarily due to lower sales volume and lower margins that the Company believes were driven by customer inventory corrections earlier in the year and now are being driven by global excess capacity and competition in Brazil from imports. See the Status of Current Corporate Strategic Initiatives section of this report for information on the sale of Terphane.

Huhtamaki’s subsidiary in India has recently consolidated five manufacturing sites into larger local units. Following the reorganization, the company has sold its real estate in Thane, India, from where a manufacturing facility and offices have been transferred. The real estate was sold to Phoenix Group, a large real estate developer, for EUR 47 million. Huhtamaki will book a gain of approximately EUR 44 million in the fourth quarter of 2023 and it will be treated as an item affecting comparability.

Lacerta Group, a leading provider of innovative and sustainable thermoformed packaging solutions, announced today the appointment of Paul Young as its new Chief Executive Officer, effective November 6, 2023. Mr. Young previously served as the Chief Executive Officer of Tekni-Plex, a global leader in the consumer and healthcare packaging sector, where he led the successful turnaround of the business. Through operational excellence, customer responsiveness and strategic growth investments, its revenue grew to more than $1 billion while earnings quadrupled. Prior to joining Tekni-Plex, Mr. Young held various general management and manufacturing roles for Graham Packaging, Owens-Illinois and Continental PET Technologies. Mr. Young holds an M.B.A. from DePaul University and a B.S. in Chemical Engineering from the University of Toledo.

Amcor announced a Memorandum of Understanding (MOU) with leading sustainable polyethylene producer NOVA Chemicals Corporation for the purchase of mechanically recycled polyethylene resin (rPE) for use in flexible packaging films. Increasing the use of rPE in flexible packaging applications is an important element of Amcor’s commitment to support packaging circularity. The supply agreement would enable Amcor to purchase SYNDIGO™ rPE resin, manufactured at NOVA Chemicals’ first mechanical recycling facility in Connersville, Indiana, which is projected to be in operation as early as 2025. The recycling facility was announced in July as a significant expansion of NOVA Chemicals’ Circular Solutions business.

Mondi, a global leader in packaging and paper, has collaborated with Skånemejerier to create a mono-material, polypropylene (PP) based packaging for, among others, ICA’s Hushållsost cheese. The new packaging comprises a mono-material base web and lidding film, all of which is produced and printed by Mondi before being converted for 1kg and 2kg blocks of cheese by Skånemejerier. It will be sold in leading Swedish supermarket ICA and now comes in packaging that is designed for recycling. Mondi’s mono-material solution provides high barriers against oxygen and water vapours, keeping the product fresh on the supermarket shelf. It offers high puncture resistance protecting the cheese, and great printability so that the brand and recycling messages can be communicated well on-pack.

Virox Technologies Inc., a leading innovator of patented, sustainable disinfectant chemistries, today announces that it has finalized multi-year licensing and supply agreements with Diversey, A Solenis Company, to bring its latest patented disinfectant technology, Citr-IQTM, to the healthcare sector and others. Diversey is a leading provider of hygiene, infection prevention and cleaning products, and technology, and will add multiple disinfectant products, powered by Virox’s Citr-IQ, to its lineup of professional offerings. Under the terms of the agreements, Virox will receive undisclosed license fees and royalties for the use of the formulas covered under the patented Citr-IQ disinfectant platform, as well as manufacture products containing the Citr-IQ formulas for Diversey’s North American markets. These Citr-IQ products will be produced in Virox’s LEED® Gold Certified manufacturing facility in Oakville, Ontario, Canada. Diversey has previously licensed chemical disinfectant technology from Virox with the patented Accelerated Hydrogen Peroxide® (AHP®) platform, which Diversey fully acquired from Virox in 2019. AHP was created by Virox in 1998, and successfully transformed disinfection with a safe, effective, and sustainable patented chemistry. AHP is used across the globe in human and animal health sectors and is the active ingredient in multiple brands, including Diversey’s Oxivir® and Accel® infection prevention platforms.

Fourth Quarter Highlights and other notable items: *Net sales of $5.0 billion *Net income of $110 million, net income included $344 million ($239 million of which was non-cash) of restructuring and other costs, net and a $239 million gain on sale of the Company’s interior partitions converting operations and Chattanooga, Tennessee uncoated recycled paperboard mill *Results negatively impacted by $64 million due to economic downtime and a $40 million increase in non-cash pension costs, each compared to the fourth quarter of fiscal 2022; WestRock’s U.S. qualified and non-qualified pension plans remain overfunded *Announced 10% dividend increase in October 2023 *Announced proposed business combination with Smurfit Kappa Group plc to create a global leader in sustainable packaging (the “Transaction”)

Billerud’s European production of packaging materials is the first to be third-party assessed as 100% recyclable, according to EU legislation proposed for 2030. This reinforces Billerud as a world leader in sustainable packaging. The standards proposed by the coming Packaging and Packaging Waste Regulation (PPWR) are high, but Billerud has been meeting high standards for many years. This is why we reached the goal seven years in advance and are the first in the world to do so. Whatever type of 100% recyclable paper or packaging material you need, contact our team to achieve your sustainability goals. Together, we will customize a solution with tomorrow in mind!

UPM Specialty Papers is responding to the growing pet food market’s need to transform traditional packaging solutions by offering paper-based alternatives for plastics and packages that contain soon to be phased out PFAS chemicals. “As PFAS chemicals are expected to be banned in the EU, UPM Specialty Papers can support converters and brand owners in this change. UPM’s barrier papers can achieve excellent grease resistance without the use of PFAS chemicals,” says Kalle Luomi, Senior Manager, Product Stewardship, UPM Specialty Papers. Depending on customer requirements, the company offers a wide range of packaging papers for pet food packaging. One example is the UPM Asendo™ Pro barrier paper that combines recyclability and grease resistance with excellent print properties.

*Operating result in Q3 above the previous quarter but significantly below the previous year *Solid performance at MM Packaging *A decline in volume caused by the market and renovations continued to weigh on MM Board & Paper's earnings *General conditions remain tense due to inflation-related consumer restraint and the overall economic slowdown *No immediate recovery apparent *The profit and cash protection program that has been initiated is beginning to take effect

*Net Revenues of $1,379 million for the third quarter of 2023 were down 14% compared to $1,609 million in the third quarter of 2022 and down 3% compared to $1,426 million in the second quarter of 2023. *Net Income from continuing operations of $28 million for the third quarter of 2023 compared to $175 million in the third quarter of 2022, a net loss from continuing operations of $139 million in the second quarter of 2023 and a net loss from continuing operations of $217 million in the twelve months ended September 30, 2023.

*Net sales of $1.38 billion, down 1% as reported; flat at constant currency *Net earnings of $58 million, down 57% *Cash flow from operations (YTD) of $193 million

WestRock Company earned 10 awards for packaging design excellence during the 80th annual North American Paperboard Packaging Competition. The competition, sponsored by the Paperboard Packaging Council (PPC), is widely known as one of the premier competitions for manufacturers in the packaging industry. WestRock earned the prestigious Package of the Year award for its WhistlePig Whiskey PiggyBank rigid box with folding carton sleeve. The sleek and sturdy packaging displayed a pig-shaped bottle, leading to a unique “reveal” of the product. Due to its upscale look and limited-edition status, the carton quickly became a collector’s item celebrating WhistlePig’s premium standard. WestRock was recognized for its “commitment to detail and structural innovation in delivering premium packaging that offered a memorable unboxing experience.” Grounded World collaborated on the design.

*Sonoco achieved fully diluted earnings per share of $1.32 *Continued near record results in the flexible packaging and the rigid paper container businesses in the Consumer Packaging (“Consumer”) and Industrial Paper Packaging (“Industrial”) segments *Inflationary pricing pressures continue to impact year-over-year demand in the Consumer segment *Generated $617 million of operating cash flow in the first nine months of 2023 due to strong GAAP Net Income and disciplined working capital management *Lowered full-year operating cash flow and free cash flow guidance based on lowered operating cash flow and lower capital expenses

• Net sales of $3,443 million; • GAAP Net income of $152 million; GAAP diluted earnings per share (EPS) of 10.5 cps; • Increased cash returns to shareholders: Quarterly dividend increased to 12.5 cents per share and $30 million of shares repurchased

Greif, Inc. announced that it has entered into exclusive negotiations to acquire I PACKCHEM Group SAS, a global leader in premium barrier and non-barrier jerrycans and small plastic containers, from an affiliate of SK Capital Partners, in a cash transaction valued at $538 million. The planned transaction would be funded through available capacity in Greif’s existing credit facilities and would be expected to close by the end of the second quarter of Greif’s 2024 fiscal year, subject to prior completion of the information-consultation processes under French law and closing conditions, including regulatory clearances.

*EBITDA of €1,625 million with an EBITDA margin of 19.0% *ROCE of 18.0% reflecting the ongoing benefit of capital plans and operating excellence *Net Debt to EBITDA ratio of 1.4x *Announced transaction to combine Smurfit Kappa and WestRock, creating a global leader in sustainable fibre based packaging

*Net Sales were $2,349 million, a decrease of 4% versus the prior year quarter. *Net Income was $170 million, a decrease of 12% versus the prior year quarter. *Continued progress of multi-year coated recycled paperboard (CRB) system transformation. *Completed acquisition and commenced integration of Bell Incorporated in September. *Published 2022 ESG Report demonstrating progress on Vision 2025 ESG goals.

TIME featured 200 innovations this year in its annual list of the best inventions, and Cruz Cool is featured in the Reuse & Recycle category. Cruz Cool is a curbside-recyclable cold-chain cooler from Cruz Foam, a circular materials company. This modern take on cold-chain packaging replaces traditional EPS foam coolers and is perfect for protecting temperature-sensitive products for up to 48 hours. Cruz Foam is made from chitin, a material derived from shrimp shells and sustainably sourced from naturally occurring waste streams in the seafood industry. Whether it’s meal kits, fish packaging, or frozen-food packaging, it has the same temperature control performance as its non-sustainable predecessors. Cruz Foam, which forms the inner insulation layer of Cruz Cool, is home compostable, and the entire unit is certified through Western Michigan University (WMU) as curbside recyclable. The Cruz Foam is washed out and separated from the cardboard during the recycling process, eliminating any impact on the cardboard recovery.

The certification underpins Mondi’s MAP2030 (Mondi Action Plan 2030) sustainability commitment to make 100% of its packaging and paper products reusable, recyclable, or compostable by 2025, ensuring a sustainable end-of-life for all paper and packaging products. While recyclability remains Mondi’s focus to keep fibres in circulation, composting can be a viable end-of-life option for certain applications, such as those disposed in the biowaste stream. Mondi’s kraft papers are made from renewable and certified sources, which can support customers to achieve their own sustainability targets. Customers can benefit from a comprehensive product range to meet requirements for industrial packaging, shopping bags for retailers and attractive food packaging for supermarket shelves. An example of Mondi’s compostable kraft papers is Advantage MF EcoComp, which is specifically designed for household and agricultural use and is used for paper bags for wet organic household waste. Another example is Mondi’s EcoVantage kraft paper, which combines fresh and recycled fibres for sustainable and food compliant shopping packaging.

UPM Specialty Papers and adhesive tape specialist Lohmann have partnered to promote recycling of paper liners in the tape industry. Until now, liner recycling in the tape industry has proven to be very difficult. As part of its own sustainability strategy of driving forward sustainable adhesive technologies, Lohmann saw the opportunity to spearhead design for recycling in the tapes industry. The collaboration builds on UPM LinerLoop, which is the pioneering closed-loop paper liner recycling solution launched in 2018. For adhesive tape liners, the greatest technical barrier to high-yield recycling is that the industry has traditionally used siliconized release liners with a darker brown shade. As the typical shade of glassine is white or some other light shade, recycling darker coloured glassine grades in the same stream would contaminate the recycled pulp. Darker shades are comparatively small in volume so recycling them separately is not economically viable.

A.J. Plast Vietnam Co has inaugurated a 70,000sq.m biaxially oriented plastic film production plant in the southern province of Bình Dương. The factory's core products include biaxially oriented polypropylene (BOPP) and biaxially oriented polyethylene trephthalate (BOPET) firms, both serving as essential raw materials for flexible packaging industry in a wide range of applications such as household products, agriculture, and pet food. Prasan Onwong, General Director of A.J. Plast Vietnam, said that the packaging sector in Việt Nam boasted considerable growth prospects, particularly in the domain of flexible packaging, which predominantly utilises BOPP and BOPET films. In terms of production capacity, the initial BOPP production line is geared to deliver 30,000 tonnes annually.

January–September 2023 compared with January–September 2022 *Net sales decreased to SEK 13,697m (15,921). The decline was mainly related to lower selling prices, which was partly offset by positive exchange rate effects and higher delivery volumes. *EBITDA amounted to SEK 5,172m (8,213). The change was mainly attributable to lower selling prices. A strong result in the Forest segment and good growth in the Renewable Energy segment had a positive impact on earnings. EBITDA margin was 37.8% (51.6). *Operating profit declined to SEK 3,738m (7,052). *Operating cash flow was SEK 3,040m (4,958).

*Reported sales increased 7% and net income increased 55% to $84 million *Core sales increased 2% and adjusted EBITDA of $193 million increased 26% from the prior year *Pharma proprietary drug delivery systems had double-digit growth across multiple therapeutic applications *Beauty’s prestige and mass fragrance dispensing technologies had double-digit sales growth *Reported earnings per share increased about 56% to $1.26 compared to $0.81 in the prior year *Adjusted earnings per share increased 39% to $1.39 compared to $1.00 in the prior year (including comparable exchange rates) *Margins continued to expand across all three segments *Cash flow from operations was $173 million and free cash flow was $97 million, up from $55 million in 2022, a 76% increase

*Net earnings of $165 million ($0.47 per diluted share); Adjusted operating earnings (non-GAAP) of $224 million ($0.64 per diluted share) *$75 million of earnings achieved from Building a Better IP initiatives, bringing year-to-date to $195 million, exceeding full-year targets *Cash provided by operations of $468 million, bringing year-to-date to $1.3 billion *Returned $160 million to shareholders in dividends, bringing year-to-date to $679 million in share repurchases and dividends *Completed the sale of our Ilim Joint Venture interest for $508 million

January–September 2023 (compared to 1–9/2022) *Sales were EUR 1,519.2 million (1,879.7). *The comparable operating result was EUR 121.5 million 420.0), or 8.0% of sales (22.3). Operating result was EUR 121.0 million (436.8). *Comparable earnings per share were EUR 0.26 (0.90), and earnings per share were EUR 0.26 (0.94). *Comparable return on capital employed was 6.7% (23.0). *Net cash flow from operations was EUR 218.6 million (161.7). July–September 2023 (compared to 7–9/2022) *Sales were EUR 479.0 million (647.3). *The comparable operating result was EUR 5.5 million (152.5), or 1.1% (23.6) of sales. Operating result was EUR 3.1 million (153.4). *Comparable earnings per share were EUR 0.02 (0.33), and earnings per share were EUR 0.01 (0.33). *Comparable return on capital employed was 1.3% (24.7). *Net cash flow from operations was EUR 76.6 million (66.4).

Mondi plc provides an update on trading for the three months to 30 September 2023. In the third quarter of 2023 the challenging market conditions continued as expected in light of the ongoing weak macro-economic environment. Market demand has remained soft with lower average selling prices largely mitigated by lower input costs and tight fixed cost control. A much-reduced forestry fair value gain resulted in a lower underlying EBITDA of €261 million when compared to Q2 2023. In Corrugated Packaging, containerboard prices were stable with our order books improving. Flexible Packaging saw further price and volume declines in kraft paper, which is traditionally later cycle. Our converting network delivered a resilient performance. Uncoated Fine Paper pricing continued to decline in Europe on ongoing weakness in demand. Southern Africa markets remain stable. The forestry fair value gain, accounted for within uncoated fine paper, was €14 million in Q3 2023, significantly lower than Q2 2023 of €72 million.

Silgan Holdings Inc., a leading supplier of sustainable rigid packaging solutions for the world's essential consumer goods products, reported third quarter 2023 net sales of $1.80 billion and net income of $110.6 million, or $1.02 per diluted share, as compared to record third quarter 2022 net sales of $1.97 billion and net income of $138.7 million, or $1.25 per diluted share. "Our third quarter results continued to display the strength and breadth of our diverse portfolio, as we delivered our second highest quarterly earnings amidst challenging market conditions. Our high value dispensing business posted another record quarter, and trends in the third quarter developed largely as we expected," said Adam Greenlee, President and CEO.

Smurfit Kappa recently published its second annual Green Bond Allocation and Impact Report which provides details on the use of proceeds of its inaugural €1 billion dual-tranche Green Bond issued in September 2021. Circular economy adapted products, production technologies and processes and/or certified eco-efficient projects (96%) contributing to: *6.8m tonnes of primarily post-consumer waste recycled in 2022 *76% recycled fibres in global production *100% recycled fibres from certified FSC, PEFC or SFI sustainable sources *4% reduction in waste sent to landfill versus 2020 *8% reduction in water intake versus 2020

Consumers are now actively considering the environment alongside their individual health when buying food, according to Tetra Pak’s Index 2023. These environmentally conscious consumers labelled 'Climatarians’ are willing to alter their eating habits to protect the planet. The market for healthy foods is already well established, as consumers actively seek products that will have a positive impact on their physical wellbeing. But a significant majority now take a more holistic view: 70% say that healthy products should not harm the environment, while another 54% are willing to take responsibility for the planet and change their diet to contribute to a better world. This dual focus is reflected in the rising number of consumers consciously reducing the amount of meat they eat, known as 'flexitarians', with nearly half of all consumers saying they are reducing meat intake or excluding meat altogether.

Stora Enso appoints Ad Smit as Executive Vice President of the Packaging Solutions division and a member of the Group Leadership Team. He will start on 1 December 2023 and report to Hans Sohlström, President and CEO of Stora Enso. Ad Smit is a Dutch citizen and will be based in the Netherlands. He has led the Business Unit Western Europe within Stora Enso’s Packaging Solutions division since January 2023. He has over 30 years of business leadership experience in the packaging industry. From 2012, Ad was the CEO of De Jong Packaging Group, which Stora Enso acquired in January 2023. Prior to that he held various Managing Director positions leading packaging divisions and units at Smurfit Kappa Group for over 20 years. “I’m delighted to welcome Ad Smit to Stora Enso’s leadership team. Ad has extensive experience and a successful track record in the packaging business. He is well placed to both lead the Packaging Solutions division and to optimise the integration and synergies with De Jong Packaging Group,” says Hans Sohlström.

Q3/2023 (year-on-year) • Sales decreased by 28% to EUR 2,127 (2,963) million. • Operational EBIT decreased to EUR 21 (527) million. • Operating profit (IFRS) was EUR -1 (511) million. • Cash flow from operations amounted to EUR 231 (639) million. Cash flow after investing activities was EUR 38 (489) million. • The net debt to operational EBITDA ratio (last 12 months) was 2.4 (0.8). The target is to keep the ratio below 2.0. • Operational ROCE excluding the Forest division (last 12 months) decreased to 4.7% (22.1%), the target being above 13%.