Amcor announces senior executive appointments to accelerate organic growth

The CANPACK Group is proud to announce that it was awarded a ‘White CSR Leaf’ by POLITYKA weekly, an award that had been assessed in cooperation with Deloitte and the Responsible Business Forum. In addition to receiving this accolade, CANPACK was also recognised as a ‘best practice’ organisation when it came to reducing its carbon footprint. The prestigious ‘White CSR Leaf’ accolade from POLITYKA weekly is awarded to companies that have been the most socially engaged over the last ten years. This year’s jubilee edition focused on company projects that reduced a business’s impact on the natural environment and climate, as well as initiatives to counter the economic and social effects of the Covid-19 pandemic. Every year, the ranking is also accompanied by a review of initiatives supporting the implementation of the 17 Sustainable Development Goals (SDGs). Out of over 100 initiatives supporting sustainable development, the most up-to-date practices that brought measurable and significant effects were recognised.

Tetra Pak announces its collaboration with Fresh Start, a leading food technology incubator that works with a portfolio of start-ups to provide technological solutions to some of the challenges facing the global food systems. As Tetra Pak’s first collaboration with a food processing technology incubator, this initiative will combine the company’s industry expertise with Fresh Start’s innovative approach to drive solutions that will contribute to improving food systems resilience. Its portfolio of solutions includes Bountica, a fermentation-based mechanism that prolongs the shelf life of food and beverage products and Alteco, a device which helps production facilities manage their energy consumption. Fresh Start is based in Israel, one of the world’s major centres of food innovation and investment.

Net sales were $1.8 billion in the first quarter of 2023, up compared to $1.7 billion in the prior year period primarily due to higher selling prices. Sales volume (in tons) was down 8 percent which was partially offset by favorable change in mix. Approximately 3 to 4 percent of the volume decline was attributed to a challenging prior year comparison (up 6.4 percent) amid record low inventories and disruption from temporary external events impacted volumes around 2 percent. Overall, the company estimates underlying market demand was down approximately 2 to 3 percent primarily due to inventory destocking across the supply chain and softer consumer demand in a few markets given macroeconomic uncertainty. Earnings before income taxes were $270 million in the first quarter of 2023, up $100 million compared to the prior year quarter. Likewise, segment operating profit was $398 million in the first quarter of 2023 compared to $231 million in the prior year period.