Amcor sells factories in Russia

Seaman Paper, a leading global manufacturer of environmentally sustainable specialty paper and packaging solutions, today announced the launch of SeaStretch™, a patented lightweight paper-based alternative to single-use plastic stretch film used to wrap and contain shipping and storage loads. Amidst growing concerns about plastic pollution and pending legislation aiming to curb single-use plastics – such as SB 54 in California – which mandates all single-use packaging must be recyclable or compostable by 2032, SeaStretch™ emerges as a timely and innovative solution. SeaStretch™ is a fully recyclable, FSC™ certified, crepe paper solution that is compatible with existing hand-wrapping, semi-automated, and automated pallet wrapping machines. SeaStretch™ is incredibly lightweight (42 gsm) and incredibly durable, stretchable, and highly resistant to tearing, making it the ideal packaging solution for pallet wrapping.

*GAAP: Net sales of $3.2 billion; Operating income of $267 million; Earnings per share of $1.18 *Non-GAAP: Operating EBITDA of $522 million; Adjusted earnings per share of $1.90 *Returned $115 million to shareholders in the quarter ($83 million via share repurchases and $32 million in dividends)

Cascades announces an important repositioning of its Tissue Papers platform to enhance the performance of the business. The Company will simplify operations by concentrating the majority of its tissue product operating activities at core, geographically well-positioned sites that offer opportunities for future development. These changes will reduce costs, create synergies and significantly improve the Tissue Group’s financial, operational and environmental performance. This decision will not affect the level of service Cascades provides to its customers. Beginning in July 2023, Cascades will progressively close its underperforming plants in Barnwell, South Carolina, and Scappoose, Oregon, as well as the virgin paper tissue machine at its St. Helens plant, also in Oregon. The equipment slated for closure, which have a combined total annual rated capacity of 92,000 short tons of tissue paper and 10 million cases of converted product, have been operating below capacity producing 56,000 short tons of tissue paper and 5 million cases of converted product in 2022, mostly on the West coast. A portion of this production will be absorbed by open capacity at our other facilities and by the increase in productivity at our sites, particularly in the United States. Cascades has the option to evaluate the possibility of redeploying the seven conversion lines impacted by this decision to other sites at a later date.