Cascades finalizes the sale of its New York plant

Emily Frieden from the Fashion Institute of Technology in New York triumphed in USA Packaging Design Impact Award (PIDA) and earned this year’s Gold Award. Her entry “Lavash” impressed the jury most with its “attention to detail in every aspect of the brand, design, and execution.” Lavash is a volcano-shaped package for a shower set. The design features all stages of volcanic activity – dormant, active, and extinct. Even the typography mimics volcanic eruptions. “When I was researching different elements of nature I was really inspired by the juxtaposition of the restorative parts of volcanoes,” says Emily Frieden. “It’ s just cool, fun, nature. I thought there’ s a lot I can do there, how I can bring that experience to packaging. It was a lot of fun.” At PIDA, design students from universities and colleges from seven countries compete with their creative packaging designs. The competition is organized as five separate events: the USA, Sweden, France/Belgium, the UK, China*, and Germany/Austria. The winners of the Gold Award at each event will meet in a Grand Finale at Luxe Pack Monaco in October.

In 2017, PMMI awarded over $140,000 in scholarships to support the development of a skilled workforce capable of moving the packaging and processing industry forward. Each year through the PMMI Foundation, PMMI, The Association for Packaging and Processing Technologies, provides scholarships to students studying packaging, food processing, engineering and mechatronics at PMMI Partner Schools throughout the United States and Canada. “As an industry leader, PMMI knows the importance of developing a workforce to advancing the packaging and processing industry,” says Jim Pittas, president, and CEO, PMMI. “We are committed to the future of this industry and want to spread the message that the packaging and processing industry is a great place for students to start a career.”

Executive Summary *Fourth quarter 2022 net sales of $5.0 billion, even with the year-ago period, including organic sales growth of 5 percent. *Full-year 2022 net sales of $20.2 billion increased 4 percent, with organic sales up 7 percent. *Diluted net income per share for the fourth quarter was $1.50 in 2022 and $1.06 in 2021. Full-year diluted net income per share was $5.72 in 2022 and $5.35 in 2021. *Net sales in 2023 are expected to increase 0 to 2 percent, including organic sales growth of 2 to 4 percent. Diluted earnings per share is expected to increase 2 to 6 percent, driven by an operating profit increase in the mid-to-high single digits, both versus adjusted results in 2022.