Nottinghamshire-based Surepak Limited is ceasing to trade despite appointed administrators at PKF Smith Cooper being hopeful of a sale following the interest of 96 parties. Surepak Limited’s financial concerns became apparent during the global energy crisis when its electricity costs increased by more than 425%. This increase, coupled with the loss of two significant contracts, decreased the company’s turnover by c.£1m, due to customers’ packaging requirements changing and the relocation of a customer abroad. The Nottinghamshire-based organisation sought a buyer after sole director Stuart Yorston filed for administration on 9th February 2024. This was to safeguard the company’s business, assets, and employees from a winding-up petition served by a creditor, which was due to be heard on 14th February.

Wells Fargo Center and Tork®, an Essity brand, announced a formal partnership to enhance sustainability, efficiency and overall fan experience through innovative hygiene solutions. Following the recent $400 million renovation to Wells Fargo Center, the partnership between the arena and Tork, the world’s number one professional hygiene brand1, will leverage hygiene to further elevate on-site amenities.  As the home of the Philadelphia Flyers and 76ers and one of the country’s top venues for concerts and events, Wells Fargo Center requires comprehensive and precise operational coordination to accommodate the variety of events hosted onsite. As part of the partnership, Wells Fargo Center will install a variety of Tork dispensing systems to bolster hygiene management throughout the facility. In addition, the venue will be equipped with Tork Vision Cleaning. This GBAC STAR-accredited facility management software will provide real-time data to cleaning staff on when and where there are service needs across the arena’s over 180+ restrooms, helping to secure hygienic experiences during the 220+ events per year hosted at this location.

Wisconsin-based Green Bay Packaging Inc. (GBP) has announced its acquisition of SMC Packaging Group, Springfield, Missouri. GBP describes the acquired firm as a producer of custom corrugated boxes, displays, packaging materials and equipment. SMC Packaging Group, founded in 1972 by Ross Ausburn and Charles Bachus, operates from multiple locations in Missouri, Arkansas and Oklahoma, says GBP. “We are excited to unite two well established, family-run businesses,” says Will Kress, board chair and CEO of Green Bay Packaging, which this decade has invested to build a new recycled-content paperboard mill in Green Bay, Wisconsin. That mill consumes several recovered paper grades, including mixed paper and old corrugated containers (OCC).

In 2023 we launched a new collection of wine, spirits and beverage label materials that embrace circularity by using recycled fibers in aesthetically attractive labels. The new collection, called Rêverie 3, demonstrates, via unique collaborations with five leading Spanish designers, that sustainability and impactful design can work together to deliver stunning results. The Rêverie 3 collection offers packaging designers a toolkit of visually appealing labels that are all made with materials from well-managed, FSC™ certified (FSC C012530) forests, recycled materials, and other controlled sources. With more and more brands now seeing the inclusion of FSC and PCR packaging as a necessity, we wanted to showcase the potential of today’s sustainable label materials. With this in mind, five of the company’s responsibly sourced label materials were given to five Spanish design agencies, with the brief to create a new collection. The label designs in the Rêverie 3 collection were created for high end wine, spirits, sparkling cider, craft beer and tomato juice drinks, with excellent execution of the artworks with different printing techniques managed by Gráficas Varias.

CANPACK Group announced that CANPACK S.A. plans to merge with Giorgi International Holdings S.A. R.L. in Luxemburg, which is currently a direct shareholder of CANPACK S.A. The merger is planned to be executed until the end of 2024 through absorption of Giorgi International Holdings S.A. R.L. by CANPACK S.A. The purpose of the merger is simplification of the internal corporate and shareholding structure – as a consequence of the merger, CANPACK Group Inc. with a seat in the United States of America, will become a direct shareholder of CANPACK S.A.

Fiscal Second Quarter 2024 Financial Highlights: *Net income decreased 60.1% to $44.4 million or $0.77 per diluted Class A share compared to net income of $111.2 million or $1.90 per diluted Class A share. Net income, excluding the impact of adjustments(1), decreased 53.9% to $47.9 million or $0.82 per diluted Class A share compared to net income, excluding the impact of adjustments, of $103.8 million or $1.77 per diluted Class A share. *Net cash provided by operating activities decreased by $123.3 million to $87.5 million. Adjusted free cash flow(3) decreased by $126.5 million to a source of $59.0 million. *Total debt of $2,916.1 million increased by $626.9 million, primarily to fund the acquisition of Ipackchem. Net debt(4) increased by $589.4 million to $2,720.1 million. Our leverage ratio(5) increased to 3.44x from 2.53x sequentially, and increased from 2.25x in the prior year quarter.

ePac Flexible Packaging, founded in 2016 as the world’s first all-digital flexible packaging company, just turned 8 years old in May of this year. So it’s fair to ask: How is ePac doing with its disruptive business model? From 2016 through 2022 ePac consistently grew 50 -100% per year. In 2023 ePac’s growth slowed, but units produced still increased 30% over 2022 as new customer acquisition remained strong. Today, ePac is an international company with ~$200M in sales. In 2023, and still in 2024, the flexible packaging industry came under significant financial pressure caused by a myriad of factors including inflation, higher interest rates, supply chain issues, emergence from COVID 19, and the availability of capital. The industry, in general, saw top line sales decline and underlying costs increase. ePac responded with a reassessment of its strategy, and took several key steps to mitigate what was/is happening industry-wide. Since its beginning ePac has been focused on using technology to drive productivity and customer experience. ePac’s Software and Services group developed unique solutions for the company’s ERP and CRM systems, on-line quoting, automated job routing, data-mining, pre-press automation, and advanced digital printing. It’s these advancements in technology that have positioned ePac to further simplify its operations and prepare for its next wave of growth.

Smurfit Kappa, one of the world's leading providers of sustainable packaging solutions, has announced it has signed an agreement to acquire Artemis Ltd., a Bag-in-Box packaging plant located in Shumen, Bulgaria. Artemis focuses on food and beverage packaging and makes the bags for Bag-in-Box products as well as films and caps for wine. Artemis will join Smurfit Kappa’s network of Bag-in-Box operations in Europe. The acquisition will allow Smurfit Kappa to expand its presence and customer base in Eastern Europe, as well as to enhance its product portfolio and innovation capabilities in the bag-in-box sector. Massimiliano Bianchi, CEO of Smurfit Kappa Bag-in-Box, said: "We made this acquisition strategically to boost our growth in the European market and expand our reach in its eastern region. By continuing to develop and invest in this plant, we can offer our customers more benefits, such as outstanding product quality, high-quality service and the wide-ranging and global expertise of Smurfit Kappa."

WestRock is making progress toward its science-based greenhouse gas targets by supporting the first of two Texas-based solar projects. WestRock set the stage by entering into virtual power purchase agreements (VPPAs) with ENGIE North America, a subsidiary of ENGIE S.A. and global leader in the net zero energy transition. Bernard Creek Solar, LLC, the first of two solar projects that are part of the VPPAs between WestRock and ENGIE, is now live and operating in Wharton County southwest of Houston. Under the VPPA, WestRock contracted 207 MW from the project. The 230 MW Bernard Creek solar project is on track to produce approximately 500,000 MWh annually, generating over $45 million in revenue for the county and creating more than 250 jobs during construction. The WestRock VPPA for the Bernard Creek project, combined with a similar project located in Bell County, will add a total of 282 megawatts (MW) of renewable energy to the Texas energy grid. "We are pleased to play a role in the production of clean energy from large-scale solar projects and to join forces with ENGIE and Schneider Electric to reduce greenhouse gas emissions by adding more renewable energy to the grid,” said David B. Sewell, president and chief executive officer at WestRock.

Starkraft, a business unit of Heinzel Pöls, part of the HEINZEL GROUP, proudly announces the successful launch of its PM6 at the Steyrermühl paper mill in Austria, marking a significant milestone in its journey towards enhanced productivity and global expansion. With this strategic investment, Starkraft elevates its production capacity to a total of 350,000 tons of kraft paper per year. From versatile white to natural packaging and specialty papers, Starkraft offers a comprehensive selection tailored to meet customer needs and industry demands. This substantial increase empowers the company to foster growth opportunities with both its longstanding clients and new partners on a global scale. As Starkraft continues to innovate and excel in the paper manufacturing sector, it reaffirms its dedication to delivering exceptional quality and service to customers across the globe.

Huhtamaki has decided to consolidate its three Flexible Packaging manufacturing sites in the United Arab Emirates, keeping one factory in Jebel Ali and expanding the one in Ras Al Khaimah. The transition will gradually take place during the second half of 2024. The aim of the consolidation is to optimize the manufacturing footprint, improve the competitiveness and strengthen the foundation for future growth in the region. The announced change is part of Huhtamaki’s program to accelerate strategy implementation published in November 2023 and expected to materially support the profitability of Huhtamaki with efficiency improvements leading to savings of approximately EUR 100 million over the next three years.  Planned consolidation does not represent a material share of the sales or profits of Huhtamaki. During the second quarter of 2024, Huhtamaki will book consolidation-related costs in total of approximately EUR 4 million. The costs will be booked as items affecting comparability. 

Legendary Finnish design house Marimekko turned to Stora Enso for co-creating a new, scalable and recyclable packaging portfolio for a range of their products. The innovative and stylish boxes made of renewable certified materials such as fibre-based corrugated board feature Unikko, Marimekko’s most iconic print. Thanks to a worked-through design process, in-house knowledge and production, Stora Enso can provide a fast route from idea to production for clients. Stora Enso and Marimekko teamed up with the goal of updating Marimekko’s gift packaging with a Nordic design solution and enhanced user experience eliminating unnecessary paper, ribbons or stickers while also protecting fragile products such as plates, vases, trays, and mugs. Expressing Marimekko’s brand identity with a premium feeling for customers was key.

Adding recycled content in your flexible plastic packaging can reduce your climate impact and support a more circular use of packaging materials. By using recycled plastic materials, we make use of plastic waste and use a raw material with a lower carbon footprint. How to do it and what to think about in terms of regulations, quality and implementation? Register to learn more in our upcoming webinar. In this webinar we share best-practice from a customer - Wienerberger, the world’s largest producer of bricks for the building industry, implementing the Trioworld Loop30 stretch hood in their operations. You will also get an overview of the regulatory landscape, as well as the journey of recycled plastic through the value chain – from waste to high-quality plastic material. register at: https://triowor.webinargeek.com/recycled-content-in-flexible-plastic-film

Kimberly-Clark announces it has made the difficult decision to exit its business in Nigeria after almost 15 years, due to recently refocused company strategic priorities globally as well as economic developments in the country. Kimberly-Clark will close its manufacturing facility and commercial office in Lagos and will no longer manufacture, market, or sell its Huggies and Kotex products in the country. Consistent with Kimberly-Clark’s value of care, the company’s top priority will be to fulfil its obligations and ensure that employees and partners are treated with fairness and respect.

Liberty Coca-Cola Beverages, a local Coca-Cola bottler serving Philadelphia, New Jersey and New York City, and WestRock, has successfully completed the installation of new equipment and technology to begin packaging multipack bottled beverages in recyclable paperboard carriers. The new packaging, which will replace an estimated 200,000 pounds of plastic rings each year, is now starting to appear on store shelves. WestRock designed the substrate, technology and packaging machine used to implement PETCollarTM Shield Plus into beverage packaging lines, which the local bottler installed at its Philadelphia production facility earlier this year. The durable, easy-to-hold paper-based carriers are being used to package Coca-Cola’s top brands in multipacks for 12-ounce (355 millileter) and 16.9-ounce (500 milliliter) beverages. Liberty Coca-Cola Beverages is the first beverage distributor in the world to implement this specific type of paperboard packaging. “The new packaging technology allows us to completely replace plastic rings with paperboard carriers for products produced at our Philadelphia facility,” said Fran McGorry, co-owner of Liberty Coca-Cola Beverages. “We expect to replace 200,000 pounds of plastic a year from our multi-state territory.”

Global leader in dispensing systems Aptar Beauty has released a new plastic fragrance pump made with post-consumer recycled resin (PCR). Color Code PCR is the first fragrance pump on the market to include up to 67%* of mechanical PCR Plus material without compromising on customization options and aesthetics. By integrating up to 67%* of mechanical PCR Plus content during manufacturing, Aptar reduces the product’s CO2 emissions by up to -39% versus the version using conventional resin. This number has been verified by a comprehensive Life Cycle Analysis (LCA) of the raw materials using Aptar’s internal Eco Design tool**. By choosing Color Code PCR over a conventional plastic equivalent, brands can reduce their Scope 3 carbon emissions, while benefiting from a ready-to-use PCR content claim. Depending on the region, using this pump may also help brands avoid some extra plastic packaging tax.

The E-CO Flex SealMatic is a fully automated case sealer to process FEFCO 201 (RSC) cases, automatically adjusting its mechanical movements according to the case size. It is equipped with sustainable water-activated tape (WAT) technology to seal cases on top and bottom at a high speed, up to 20 boxes per minute, without the need for operator intervention. The machine can process an extensive range of case sizes, allowing the equipment to seamlessly adjust to the size of each case while closing the case top flaps. If a SIOC (Ships in Own Container) case is detected, the machine will automatically bypass it, to pass through the system without applying tape. The E-CO Flex SealMatic can be outfitted with a variety of extra features. These include the ability to apply labels for hazardous materials (hazmat), print and apply shipping labels, and use quality inspection smart cameras to ensure proper flap folding, tape application, and tape leg length. The case sealer’s compact size allows it to be seamlessly incorporated into existing layouts with only minor modifications.

Stora Enso’s brand-new board line in Oulu, Finland is well under way to completion. It brings with it a promise to introduce up to 750,000 tonnes of renewable packaging materials to the market, all sourced from well-managed forests. With the increased capacity to produce more premium renewable solutions, we will grow our support for food and beverage brand owners in answering consumers’ wishes for more sustainable packaging. In anticipation of the line’s startup in 2025, we’re introducing the first of such products, a new folding boxboard (FBB) that will take center stage in Oulu – Performa Nova. The promise of Performa Nova is all in the name. For years, our Performa product range has stood for exceptional performance, embodied by the strength and dependability of the material at a low weight. “Nova” signals a new era in fiber-based packaging, reflecting enhanced efficiency and product experience. Performa Nova is poised to redefine industry standards and consumer expectations.

After a successful start-up, the machine is now producing kraft papers for packaging which are marketed under HEINZEL GROUP’s well-established Starkraft brand. This enables Heinzel Pöls/Starkraft to take a major step forward in sustainable paper production and global expansion. The rebuilt machine is running smoothly with a capacity of 150,000 tons of brown and white kraft paper per year and a paper witdth of 6,300 mm at the reel. Starkraft offers a full range of 40 to 100 gsm kraft papers. This strategic investment allows Heinzel’s Starkraft division to produce a total of up to 350,000 tons of kraft paper per year. ANDRITZ introduced a unique headbox and gapformer concept combined with a shoe press that achieves significant energy savings. ANDRITZ's softnip calender technology results in premium paper surface qualities. Moreover, ANDRITZ provided a new VIB SteamTech profiling system and an upgrade of the existing steam and condensate system.

As a leading provider of sustainable packaging solutions, we fully support the European Union’s aim of promoting packaging circularity and reducing the impact of packaging on the environment. To help our customers navigate new rules shaping the future of packaging in the EU, we have outlined the latest information on the Packaging and Packaging Waste Regulation (PPWR), its importance, objectives, and the differences between existing rules and the key measures proposed. The PPWR is a proposed piece of legislation revising the current packaging and packaging waste rules applicable in the European Union (EU). Currently, the main regulatory framework for packaging and its end of life in the European Union is the Packaging and Packaging Waste Directive (PPWD), adopted in the 1990s and revised several times since.

Mondi has commissioned and completed a life cycle assessment (LCA) for its ground-breaking paper-based Hug&Hold solution, to determine its environmental impact compared to that of conventional low-density polyethylene shrink wrap for six 1.5 litre PET beverage bottles. Hug&Hold is an innovative, sustainable and fully recyclable solution to replace plastic shrink wrap on the PET bottle bundle packs. It comprises two elements - a kraft paper sleeve to provide secure and safe transportation and a corrugated carrying handle that firmly holds the bottles around the neck, featuring an integrated handle for convenience and strength. The assessment shows that Hug&Hold has lower impacts in the categories of climate change, fossil resource use, photochemical ozone formation, acidification, ionising radiation, water use and eutrophication of freshwater. The overall carbon footprint is 43% lower than average LDPE virgin plastic shrink wrap and 15% lower than LDPE shrink wrap with 100% recycled content, meaning it can be recommended to reduce the climate change impacts of packaging while providing a strong solution for the customer and end user.

UPM’s barrier and barrier base papers can be enhanced with heat-seal properties while reproducing high-quality images in almost any flexographic print shop under normal production conditions. This was demonstrated in joint co-creation project carried out by UPM Specialty Papers, BOBST, and Siegwerk. The test results verified that it is possible to efficiently print packaging papers and at the same time achieve heat-sealability using flexographic printing techniques. The project combined a number of UPM’s barrier and barrier base papers with Siegwerk’s water-based ink series UniNATURE, which are formulated with a high Bio Renewable Content (BRC), and two heat-sealing lacquers for paper and board applications from their CIRKIT coatings range. The papers were printed using BOBST MASTER CI, a 10-color wide-web printing press designed for water-based inks and 800 m/min speed.

The International Safe Transit Association (ISTA) 2024 has proven to be another successful forum for collaboration, learning, and networking. The ISTA Forum, which includes the TransPack and TempPack events, is where the packaging community comes together to tackle the industry’s biggest challenges, explore best practices, and discover the latest trends. The common theme of the ISTA 2024 Forum was collaboration. To move the industry forward, speakers urged the audience to amplify efforts to collaborate both internally and externally. Sustainability is a tremendous priority and most companies invest in promoting their sustainability efforts. By collaborating as an industry, we can share data and amplify messaging to educate B2C consumers and B2B decision-makers on the value of sustainable packaging. Industry players should be willing to share their respective insights to make a more positive impact on the environment. The ability to measure impact – and learn from it – is a critical piece of the puzzle.

Mondi held a groundbreaking ceremony in Duino, Italy, today laying the cornerstone on its €200 million investment in the mill acquired in January 2023. The facility’s existing paper machine is being converted into a high-quality recycled containerboard machine which will create job opportunities for current and potential employees, build and evolve partnerships with local stakeholders as well as contribute to the region’s overall economic development. The start-up of the new machine is expected in 2025. Once fully operational, it will be capable of producing 420,000 tonnes of recycled containerboard for sustainable packaging solutions and will be Mondi’s widest recycled paper machine at 8.5 metres. Where possible, the mill will source materials locally in order to contribute to the local economy, reduce greenhouse gas emissions through shorter transport distances and strengthen supply chain resilience.

Huhtamaki has received the prestigious Gold Medal from EcoVadis for the fourth consecutive year, placing the company in the top 5% of more than 130,000 rated companies worldwide. The score is based on our performance in the four categories of Environment, Labour and Human Rights, Ethics and Sustainable Procurement. Compared to last year, our most significant improvements were in our supplier engagement and reporting on our environmental impacts. In 2023, we made significant improvements in reducing waste and GHG emissions as well as increasing our focus on our nature issues. Huhtamaki's external recognition from EcoVadis underscores our commitment to producing packaging that protects Food, People and the Planet. "Receiving the Gold Medal from EcoVadis for the fourth year in a row is a significant achievement that reflects the progress we've made on our sustainability commitments," says Salla Ahonen, Huhtamaki EVP of Sustainability and Communications.

The American Forest & Paper Association (AF&PA) released the April 2024 Packaging Papers Monthly report. Total packaging papers and specialty packaging shipments in April increased 21% compared to April 2023. They were up 11% when compared to the same 4 months of 2023. The operating rate for unbleached packaging papers was 94%, up 15.8 points from April 2023 and up 4.2 points year-to-date. Shipments of the biggest subgrade in bleached packaging papers – food wrapping – 25,800 short tons for the month of April, down 0.5% from the same month last year and down 2.3% year-to-date.

Novolex employees thrive when developing innovative new products, identifying more sustainable solutions, and stretching the boundaries of packaging to meet unique customer needs. At Novolex, we pride ourselves on collaborating across the industry, cultivating a broader brain trust with others in the manufacturing and packaging space. Certain issues—like recyclability or reusability—we can’t tackle alone. By joining coalitions focused on consumer education, collaborating with foodservice operators, participating in labeling systems like How2Recycle®, and fostering the construction of recycling infrastructure, we support consumers and elevate the entire industry. Last month, the Plastics Industry Association (PLASTICS) launched the Flexible Film Recycling Alliance (FFRA), an initiative Novolex is proud to participate in. The alliance has plans to educate the public about the sustainability and recyclability of flexible plastic film products.

The Coalition for Fair Trade in Shopping Bags (the "Coalition") applauds the final determinations announced today by the United States Department of Commerce ("Commerce") that imports of paper shopping bags into the United States from Cambodia, China, Colombia, India, Malaysia, Portugal, Taiwan, and Vietnam are being sold at less than fair value (commonly termed "dumping") and that imports from China and India also are being subsidized. This follows an affirmative final finding of dumping announced in March with respect to imports of paper shopping bags from Turkey. Commerce's investigations concerning these nine countries cover paper shopping bags with handles of any type, whether printed or unprinted. In its final determinations, Commerce concluded that imports of paper shopping bags from each of the nine countries are being unfairly traded. In particular, Commerce found combined dumping margins and subsidy rates of up to 308.13 percent. This means that U.S. importers of paper shopping bags from these countries will have to pay cash deposits to U.S. Customs and Border Protection ("Customs") based on the value of their future imports.

Mondi has created a new secondary paper packaging solution for wrapping bundles of food and drinks, replacing plastic shrink film that has been the industry standard. The new paper solution, TrayWrap, is made with Mondi’s Advantage StretchWrap and is being used by a coffee brand to secure 12 coffee packages for transportation across Sweden. The paper wrap holds the coffee packs tightly in place with 4-6 adhesive dots on the bottom side of the existing corrugated tray. Pre-punched folding points ensure stability on each open side, meaning that the products can be seen, stacked, transported and easily unpacked for sale.

We’re excited to announce that in partnership with our valued customer, Coca-Cola Consolidated, our Stretch Film Recycling Program is currently creating post-consumer recycled (PCR) resin from used and recaptured stretch film! To reduce carbon emissions and the use of virgin material, we are creating a pilot closed-loop system for Coca-Cola Consolidated’s stretch film by reclaiming the high-quality film that we sell them so that it can be reused in new stretch film applications. Stretch film is essential for business-to-business logistics and allows pallets of products to make it safely through the supply chain efficiently and without damage.

Stora Enso has decided to postpone potential plans to convert a paper machine at its Langerbrugge paper mill in Belgium from the production of recycled newsprint to recycled containerboard. Currently, the Langerbrugge mill has two machines: one produces recycled newsprint and the other produces recycled supercalendered magazine paper. The mill has the capacity to produce 540,000 tonnes per year of recycled paper. “Our study on the opportunity to deliver more recycled packaging to the market proved positive. However, as the availability of recycled containerboard in Europe currently meets market needs, we decided to postpone the conversion decision, which will be taken in due time.

Stora Enso's Chief Financial Officer and Deputy CEO, Seppo Parvi, has decided to leave Stora Enso to assume a role with a company outside of the forest industry. He will leave Stora Enso during the fourth quarter of 2024. “Since joining in 2014, Seppo Parvi has, in his role as CFO and member of Stora Enso’s Group Leadership Team, been integral in transforming Stora Enso to ‘The renewable materials company’. He has also played an important role as Stora Enso’s Country Manager Finland, and in developing the forest industry more broadly. On behalf of Stora Enso, I want to express our sincere gratitude for Seppo’s significant contributions to Stora Enso and wish him the very best in his future endeavours,” says Hans Sohlström, President and CEO of Stora Enso.

LESSEAU®, the pioneering touchless dispensing and solid hand wash technology brought to you through a partnership between Diversey – A Solenis Company and Slimstones B.V., earned the prestigious Amsterdam Innovation Award in the Sustainability & Environment category. Notably, LESSEAU was also named the Overall Winner of the Amsterdam Innovation Award, marking a significant achievement for sustainability and innovation in the cleaning and hygiene industry. Compared to liquid hand washing soap, LESSEAU hand wash bars contain 95% less water and are significantly smaller, lighter and have zero plastic packaging. The Amsterdam Innovation Award, granted every two years to the most innovative products, services or solutions, represents an exceptional accomplishment. LESSEAU’s triumph in the Sustainability & Environment category and its recognition as the Overall Winner underscore its commitment to revolutionizing hand hygiene platforms by eliminating single-use plastics and promoting sustainability across the industry.

Tredegar announced that, as part of the Brazilian merger review process regarding the sale of Terphane to Oben Group, the General Superintendence of the Administrative Council for Economic Defense issued a non-binding opinion recommending the rejection of the transaction. Following this first stage of the two-stage Brazilian merger review process for complex transactions, the case will now be submitted to the CADE Tribunal, in accordance with the customary Brazilian merger review process. Once the case is submitted to the Tribunal, the parties are given a full opportunity to present evidence in favor of clearing the transaction. The SG Opinion is not binding and the final decision regarding the transaction will eventually be rendered by the Tribunal, which will begin its independent analysis now. John Steitz, Tredegar’s president and chief executive officer, said, “We remain confident that the sale of Terphane to Oben Group will be a positive development for the flexible packaging films market in Brazil. Tredegar has been fully cooperative with SG-CADE and will continue to cooperate with the CADE Tribunal to address any concerns. During the Tribunal’s review, Tredegar and Oben will detail their views on the market, its dynamics and the positive effects that would result from the transaction.”

Metsä Board’s Twisty Ice Cream Boxes by Adara Pakkaus have been bestowed a 2024 Excellence in the Flexography Award’s Self Promotion Category. The Excellence in Flexography Awards is the premier awards programme for the flexographic industry in the United States. By collaborating with industry leaders, Metsä Board re-designed a favorite of the frozen food aisle: ice cream cone packaging. The team investigated different stages of the value chain, ranging from material production to ink usage and logistics, showcasing new possibilities using carefully selected lightweight fresh fibre materials and flexographic printing methods to achieve excellent usability and unparalleled halftone graphics in extreme high 188 lpi print resolution. The team included packaging designers at Futupack, packaging manufacturer Adara Pakkaus, flexo printing plates supplier Marvaco, ink supplier Siegwerk and ECG printing specialist Dr Kai Lankinen, who consulted on the project.

The customer focused innovation centre will help brands and manufacturers to meet increasing consumer demand for sustainable products and contribute towards a circular economy. The state-of-the-art technology and the synergies established in the centre will provide the opportunity for customers and visitors to explore and share sustainable packaging solutions in an interactive environment. The learning experience will allow for flexible exploration around sustainable and circular ready packaging for brands and manufacturers in the Iberian region and with a focus on a variety of sectors from e-commerce and FMCG, to automotive and industrials. Customers and visitors have access to state-of-the-art digital tools such as 360º cameras and LED screens, and virtual and augmented reality experiences. 3D technology is installed to reveal market-ready solutions in real time and demonstrate the developmental processes behind innovative new customized prototypes.

Smithers anticipates major changes as $231.7 billion world corrugated packaging market returns to growth trajectory. Global containerboard and corrugated board demand are facing a series of challenges and shifts in market dynamics across the next five years. These are expertly profiled, and quantified in the new market data report – The Future of Global Corrugated Packaging to 2029 – from Smithers. Published today, its in-depth analysis of capacity changes, pulp pricing, and end-user demands shows that in 2023, global containerboard production was 183.4 million metric tons, a -4% decline on 2022. These were converted into around 165 million tons of corrugated board, a decrease of more than -7% on 2022; with value reaching $224.4 billion. This reflects the end of the period of disruption in world supply that began in 2020 with Covid-19, which was characterized by disruption to global logistics impacting demand, price fluctuations leading to high inventories, and subsequent destocking.

Mondi has collaborated with Scan Sverige to create a polypropylene (PP) based mono-material packaging, that is designed for recycling. HKScan Sweden, having over a century experience in responsible Swedish food production, uses Mondi’s WalletPack for its Pärsons brand’s range of sliced ham, salami, and plant-based products, starting from March 2024. Mondi’s WalletPack is a PP based solution which is designed for recyclability. This packaging is purposefully developed with recycling in mind, aligning with our customer’s goals, and NPA's missions as an approved producer responsibility organisation dedicated to advancing circular and traceable material recycling. WalletPack can be effectively sorted by Site Zero, Europe’s largest and most advanced plastic recycling facility located in Sweden and is thereby contributing to a circular economy. It replaces the previous solution, which was an unrecyclable multi-material pack that consisted of PET-PE and PA-PE laminates.

Diversey has added Oxivir® Three 64 to its leading Oxivir product line. Oxivir Three 64 is a new one-step, hospital disinfectant cleaner that is bactericidal, virucidal and fungicidal all in three minutes at a 1:64 dilution. With more than 70 disinfectant claims, it now leads Diversey’s concentrate lineup of Accelerated Hydrogen Peroxide® (AHP®) dilution control products, making it fast, effective, responsible and sustainable. Like other members of the Diversey Oxivir family, Oxivir Three 64 in use has the best possible safety rating (category IV). Designed for healthcare environments, the solution is tough enough to clean and disinfect surfaces and equipment in one pass while being gentle on staff and surfaces. It is nonirritating to skin and eyes, requires no personal protective equipment and is compatible with most common healthcare surfaces and equipment. In addition to being effective as a one-step, multi-surface, multipurpose disinfectant cleaner, Oxivir Three 64 is an EPA-approved soft surface sanitizer.

Sonoco Products Company is pleased to announce that Sonoco Flexible Packaging has received ISCC PLUS certification from the International Sustainability and Carbon Certification System within their EnviroFlex™ Recycled Content portfolio. This certification brings third party validation of resin sourcing practices at Sonoco’s Morristown, Tennessee facility. With this certification, Sonoco continues to build credibility as the market leader in high performing laminations containing recycled materials. The ISCC PLUS certification is a voluntary commitment to increase transparency and to ensure the traceability of recycled material throughout the entire supply chain via mass balance. With this certification, Sonoco can provide customers with verifiable materials that contribute to the circular economy, help them meet sustainability commitments, and more broadly support expansion of the recycling infrastructure. The EnviroFlex Recycled Content line of packaging is a portfolio of custom oxygen, moisture and grease barriers, ideal for a broad range of applications. This line is intended to bring circular practices to flexible packaging while maintaining the highest level of performance and machinability.

UPM Raflatac has announced the launch of its innovative New Wave paper label material compatible with recycling. It is the first RecyClass certified paper label material to obtain a Letter of Compatibility for use on rigid high-density polyethylene (HDPE) and polypropylene (PP) containers. The test results confirm the compatibility even for natural and white material streams, which require the highest purity of recyclate from the recycling processes. This groundbreaking new label material represents a major step forward in the recycling of rigid plastic packaging, helping brand owners continue to make the shift towards enhanced circularity. At the moment, New Wave is the only RecyClass-recognized label solution for rigid natural and white HDPE and PP material streams. The New Wave label material is designed to provide functionality for the full life cycle of products, primarily home and personal care products such as soap bottles or washing detergent containers. It supports the purity of recycled materials by washing off cleanly at just 40°C using plain water with no chemicals required.

Ensocoat™, Stora Enso’s flagship luxury packaging and graphical board, is celebrating its 60th anniversary. Since its inception in 1964, Ensocoat has evolved to become the go-to choice for brand owners seeking premium packaging material, and its journey is a testament to Stora Enso's commitment to quality consistency and improvement. Throughout its long history, Ensocoat has continuously adapted to meet growing market demand for performance. In this article, we explore Ensocoat's journey and the quality standards that have made it the most luxurious paperboard to date. Ensocoat is produced at Stora Enso’s Imatra site in Finland on Board Machine (BM) 2. Brown kraftliner production on this line began in 1956, but BM 2 was designed from the outset to produce white packaging board to meet growing market demand. In 1963, a new mineral coating machine was introduced at the mill to produce board with a better printing surface. Around the same time, the mill’s birch pulp production capacity was increased, thus creating new opportunities for product development. The first production run of a mineral-coated speciality board was in 1964, signifying the initial steps in the development of Ensocoat.

Q1 2024 Highlights *Sales of $1,109 million (compared with $1,138 million in Q4 2023 and $1,134 million in Q1 2023); *Operating income of $9 million (compared with operating loss of $(24) million in Q4 2023 and operating loss of $(80) million in Q1 2023); *Net loss per common share of ($0.20) (compared with ($0.57) in Q4 2023 and ($0.75) in Q1 2023); *Net debt1 of $2,020 million as of March 31, 2024 (compared with $1,882 million as of December 31, 2023). Net debt to EBITDA (A) ratio1 of 3.8x, up from 3.4x as of December 31, 2023; *On April 12, 2024, the Corporation entered into a $175 million delayed draw unsecured term loan credit facility to manage upcoming maturities; *Total capital expenditures, net of disposals, of $41 million in Q1 2024, compared to $46 million in Q4 2023 and $137 million in Q1 2023. The Corporation's 2024 forecasted net capital expenditures of approximately $175 million is unchanged.

Second Quarter Highlights *GAAP: Net sales of $3.1 billion; Operating income of $208 million; Earnings per share of $0.98 *Second quarter volume and earning results in-line with expectations; Strong April volumes provides confidence for low-single digit volume growth outlook in 2H *Increased cost savings program target by 18% or an additional $25 million *Continued progress in portfolio optimization with two divestitures closed; proceeds could exceed $2 billion in cash from strategic divestitures over the next year ($1 billion from previously announced merger and $1 billion from future portfolio optimization opportunities)

First Quarter Financial Results Highlights *Earnings before interest, taxes, depreciation and amortization from ongoing operations for Aluminum Extrusions was $12.5 million in the first quarter of 2024 versus $14.6 million in the first quarter of last year and $8.0 million in the fourth quarter of 2023. *EBITDA from ongoing operations for PE Films was $6.9 million in the first quarter of 2024 versus $1.8 million in the first quarter of 2023 and $4.5 million in the fourth quarter of 2023. Sales volume was 10.0 million pounds in the first quarter of 2024 versus 7.4 million pounds in the first quarter of 2023 and 8.5 million pounds in the fourth quarter of 2023. *EBITDA from ongoing operations for Flexible Packaging Films (also referred to as "Terphane") was $2.0 million during the first quarter of 2024 versus $1.4 million in the first quarter of 2023 and $2.3 million during the fourth quarter of 2023. Sales volume was 22.0 million pounds in the first quarter of 2024 versus 19.8 million pounds in the first quarter 2023 and 22.8 million pounds in the fourth quarter of 2023. See the Status of Agreement to Sell Terphane section of this report for information on the sale of Terphane.

Amcor and AVON announced the launch of the AmPrima™ Plus refill pouch for the AVON Little Black Dress classic shower gels in China. The recycle-ready packaging will result in an 83% reduction in carbon footprint, and 88% and 79% reduction in water consumption and renewable energy respectively when it's recycled.* In alignment with AVON’s ambition to use 100% reusable, recyclable or compostable packaging material for its products by 2030, Amcor’s research and development teams partnered with AVON to design and develop their first refill pouch with recycle-ready material. The AmPrima refill pouch is designed to provide a more sustainable packaging solution that also delivers the barrier properties, stiffness, graphics performance and run speeds matching unrecyclable alternatives, while also providing convenience to consumers. “Amcor’s AmPrima product range offers packaging options to help major brands, like AVON, reach their sustainability goals,” said Roawin Luo, Global Director of Product Management at Amcor.

Tetra Pak announces the expansion of its homogenizer portfolio, offering machines with Outokumpu Circle Green®1 stainless steel, a material that boasts a carbon footprint up to 93% lower when compared to the global industry average for stainless steel2. This innovative material will be available as an option for all models in Tetra Pak’s homogenizer line in Europe from June, before rolling out globally later in the year. With approximately 7% of the world's carbon dioxide emissions stemming from the global steel industry3, innovating with new forms of stainless steel plays an important role in reducing overall greenhouse gas (GHG) emissions. In the food and beverage (F&B) industry, everything from dairy beverages to table sauces relies on homogenisation as part of its production process.

Diversey has launched two new mechanical ware washing products with significant sustainability profiles. As part of the successful SURE® brand, these products meet the stringent requirements for a EU Ecolabel and have been assessed by the Cradle to Cradle Innovation Institute. The rinse aid has achieved Gold-level certification across all five Cradle to Cradle criteria, while the detergent has received Gold for Material Health. These certifications recognize them as free from harmful chemicals and safer for both people and the environment. Developed for professional kitchens, SURE Machine Dishwash Detergent effectively tackles tough grease and dried-on food, while SURE Machine Dishwash Rinse Aid ensures quick and spot-free drying. As a result, customers can trust that they are choosing cleaning solutions that are both effective and environmentally responsible.

Metsä Board's BCTMP mill in Kaskinen produces high-quality pulp for Husum mill in Sweden and domestic board mills. The next goal of the modern mill is fossil free production. According to the VP of Kaskinen mill, there is a lot of long-standing and strong expertise in the Kaskinen team, which will contribute to the mill's development. On the west coast of Finland Kaskinen is home to one of Europe’s largest and most modern bleached chemi-thermomechanical pulp mills. The mill is now aiming for fossil free production by the end of 2030, in line with Metsä Group's targets. "In 2018, the mill's capacity was increased, and since then there have been several smaller investments and improvements made to our processes which has moved the mill forward. Our position at Metsä Board is pivotal, as our pulp is used in the production of folding boxboards. A significant part of our pulp goes to the Husum mill in Sweden, where recent investments have been made to increase production volumes of folding boxboard.

In recent years, there has been a significant shift in the packaging industry. First in the UK and Europe, and now US and Canadian brands are moving towards paper-based packaging solutions. This transition reflects a growing corporate commitment to environmental sustainability, increased regulations and penalties for using plastic, and a desire to meet consumer demand for packaging that is both sustainable and easier to recycle, knowing it is not going into landfills. All of these motivators drive a growing movement to support a more circular economy, which is one based on the reuse and regeneration of materials or products, especially as a means of sustainably continuing production. One of the primary reasons behind the shift towards paper-based packaging is a heightened awareness of environmental issues, particularly the impact of plastic pollution on the planet. Paper-based packaging offers several environmental benefits, making it an attractive alternative to plastic.

First Quarter 2024 Financial Highlights: Net Revenues of $1,252 million for the first quarter of 2024 were down 13% compared to $1,431 million in the first quarter of 2023 and down 2% compared to $1,274 million in the fourth quarter of 2023. Net Income of $10 million for the first quarter of 2024 compared to a net loss of $133 million in the first quarter of 2023 and net income of $22 million in the fourth quarter of 2023.

Arkema has agreed to acquire Dow’s flexible packaging laminating adhesives business, one of the leading producers of adhesives for the flexible packaging market, generating annual sales of around US$250 million. The proposed acquisition will significantly expand Arkema’s portfolio of solutions for flexible packaging, enabling the Group to become a key player in this attractive market. Dow’s flexible packaging laminating adhesives business offers a broad range of high-quality solutions in food and medical applications, where flexible packaging is the optimal solution in terms of efficiency, as well as for industrial lamination (window films, photovoltaic backsheets, etc.).

Net sales of $1.33 billion decreased 1% as reported, with EMEA decreasing 6%, APAC decreasing 3% and the Americas up less than 1%. Net earnings were $83 million, or $0.57 per diluted share, as compared to net earnings of $63 million, or $0.44 per diluted share. The current year results were impacted by $29 million of Special Items expense, including $22 million of restructuring and other associated costs related to the cost take-out to grow program ("CTO2Grow Program"). The prior year results were impacted by $44 million of Special Items expense, $30 million of which related to the Liquibox acquisition. Income tax expense was $36 million, resulting in an effective tax rate of 30.0% in the quarter. This compares to an income tax expense of $34 million in the prior year period, or an effective tax rate of 35.0%. The lower effective tax rate is primarily driven by lower accruals for uncertain tax positions in the current year.

Key Points: *Revenue of €2.7 billion *EBITDA of €487 million with an EBITDA margin of 18.0% *Continuing corrugated box volume growth as anticipated *Highly successful bond offering of US$2.75 billion *Smurfit WestRock integration planning progressing well

Clearwater Paper Corporation announced the successful completion of its strategic acquisition of the Augusta, Georgia bleached paperboard manufacturing facility from Graphic Packaging International, LLC (“Graphic Packaging”). Terms of the acquisition were first announced on February 20, 2024. “I am pleased that we have finalized the acquisition of Graphic Packaging’s Augusta, Georgia, paperboard manufacturing facility. The Augusta mill is a great fit with our strategy and improves our position as a premier, independent paperboard supplier to North American converters. I look forward to welcoming the Augusta team to Clearwater Paper as we work together to build a more scaled paperboard business to service our customers,” said Arsen Kitch, President and Chief Executive Officer.

Second Quarter Highlights and other notable items: *Net sales of $4.73 billion *Net income of $16 million, Adjusted Net Income of $101 million; net income included $81 million of restructuring and other costs, net *Earnings of $0.06 per diluted share (“EPS”) and Adjusted EPS of $0.39 *Consolidated Adjusted EBITDA of $618 million *Consumer Packaging Adjusted EBITDA margin increased 70 bps to 18.0% *Achieved over $160 million in cost savings; expect to significantly exceed previously announced fiscal 2024 target of $300 to $400 million

Summary: *Generated $166 million of operating cash flow and $80 million of Free Cash Flow *Achieved net income attributable to Sonoco of $65 million; higher productivity of $51 million partially offset price/cost pressures and lower volumes *Completed the sale of Protective Solutions on April 1, 2024, as part of our strategy to simplify our portfolio and used the majority of the $82 million cash proceeds to pay down debt *Entered a Virtual Power Purchase Agreement (“VPPA”) to contract a significant portion of Sonoco’s expected U.S. electricity consumption in 2025 and support Sonoco’s emissions reduction goals

Novolex® announced a strategic investment in Rhode Island-based reusable systems and container brand OZZI®. As a part of this investment, Eco-Products®, a Novolex business unit and leader in circular solutions for the foodservice industry, will help accelerate the growth of OZZI. The OZZI family of products and solutions includes O2GO® containers, cups, and cutlery; OZZI Drop N’Go Collection Systems; the OZZI Automated Collection Machine; and a Kitchen Collection of racks, baskets, and other equipment to support washing, sanitizing, drying, and storing returned reusables. The O2GO containers have been third-party tested and are certified to perform for more than 1,000 washes. Reusables are well-positioned for closed-system foodservice environments where consumer convenience and proximity to dedicated return receptacles optimize product return and reuse. OZZI products and solutions are specifically designed for such closed-system environments, including colleges and universities, corporate campuses, military bases, and hospitals where the company has emerged as a leading solution partner at more than 400 campus dining environments.

YTD Highlights - Nine Months Ended March 31, 2024 • Net sales of $10,105 million; • GAAP Net income of $473 million; GAAP diluted earnings per share (EPS) of 32.7 cps; • Strong cash returns to shareholders: Quarterly dividend increased to 12.5 cents per share and $30 million of shares repurchased; and

Silgan Holdings Inc. reported first quarter 2024 net sales of $1.32 billion and net income of $55.2 million, or $0.52 per diluted share, as compared to first quarter 2023 net sales of $1.42 billion and net income of $72.0 million, or $0.65 per diluted share. Adjusted net income per diluted share for the first quarter of 2024 was $0.69, after adjustments increasing net income per diluted share by $0.17. Adjusted net income per diluted share for the first quarter of 2023 was $0.78 after adjustments increasing net income per diluted share by $0.13.

First Quarter Highlights *Delivered sales of $4.2 billion, up 3.5%, or 4.9% on a daily, organic constant currency basis *Achieved operating margin of 15.8%, down 80 basis points *Generated $661 million in operating cash flow and returned $360 million to Grainger shareholders through dividends and share repurchases. Grainger reported results for the first quarter of 2024 with sales of $4.2 billion, up 3.5%, or 4.9% on a daily, organic constant currency basis, and diluted EPS of $9.62, up 0.1% compared to the first quarter of 2023.

Lacerta Group LLC has announced the launch of Hot N’ Sealed, a new microwaveable food packaging line for prepared foods. Available in three sizes, Hot N’ Sealed packaging is perfect for side dishes, individual meals, and family meals. Standout features include: *Easy-to-open, tamper-resistant closure so your food travels safely *A leak-resistant PET lid provides clarity, highlighting quality ingredients and boosting shelf appeal *Strong materials and smart design to preserve food freshness. A recent boom in grocery delivery and grab-and-go markets has spurred a new host of prepared food products at food retailers across North America. Food producers and grocery chains have expanded their food options and need strong, tamper-resistant packaging to ensure a positive customer experience.

*Net Sales $2,259 million, versus $2,438 million in 2023 *Net Income $165 million, versus $207 million in 2023 *Earnings per Diluted Share $0.53, versus $0.67 in 2023. Michael Doss, the Company's President and CEO said, "During the first quarter, our diverse consumer packaging portfolio performed broadly as expected.

Packaging Corporation of America reported first quarter 2024 net income of $147 million, or $1.63 per share, and net income of $155 million, or $1.72 per share, excluding special items. First quarter net sales were $2.0 billion in 2024 and 2023.

Amcor together with Kimberly Clark, has launched packaging for its Eco Protect diapers with 30% recycled materials in Peru. The bags contain post-consumer recycled content and provide a more sustainable packaging solution for the hypoallergenic diapers made with certified, plant-based fibers. The new Huggies Eco Protect diapers packaging is designed and produced by Amcor for Kimberly Clark with a shared goal of contributing to a circular economy. The bag has been developed using recycled plastic film that has been processed to be reused as a raw material maintaining performance and minimizing impact on visual appeal.

Amcor is launching a one-liter polyethylene terephthalate (PET) bottle for carbonated soft drink (CSD) use that is made from 100% post consumer recycled (PCR) content. This first-of-its-kind stock option will support customers as they strive to meet sustainability commitments and requirements. As the industry leader in packaging innovation, Amcor Rigid Packaging (ARP) is adding this one-liter CSD 100% PCR bottle to an expanding stock portfolio of responsible packaging made from recycled content.

AptarGroup, Inc. reported strong first quarter results driven by continued growth of the company’s proprietary drug delivery systems, increased injectables sales and an improving picture for consumer dispensing technologies in North America. Reported sales increased by 6% and core sales, excluding currency and acquisition effects, increased by 5%. Aptar reported net income of $83 million for the quarter, a 52% increase over the prior year. Reported earnings per share increased 50% to $1.23 and adjusted earnings per share increased 31% to $1.26. “We are off to a great start for the year. Strong sales growth in our Pharma business and continued margin expansion in our Beauty and Closures businesses helped us achieve double-digit earnings per share growth over the prior year quarter. Our Pharma segment continued to see healthy market demand and our proprietary drug delivery systems continued to show robust growth after growing more than 30% in the prior year quarter. Additionally, North America showed positive momentum across all three segments. Our teams remain focused on cost management and improved operational leverage, and were able to decrease selling, general and administrative (SG&A) expenses as a percentage of sales over the prior year quarter,” said Stephan B. Tanda, Aptar President and CEO, commenting on the first quarter results.

Net sales in the first quarter were $2,784 million compared to $2,974 million in the first quarter of 2023 reflecting higher beverage can shipments in Americas and European Beverage and favorable foreign currency of $10 million, offset by the pass through of $130 million in lower material costs and lower volumes in most other businesses. Income from operations was $245 million in the first quarter compared to $269 million in the first quarter of 2023. Segment income in the first quarter of 2024 was $308 million compared to $320 million in the prior year first quarter driven by improved results in global beverage offset by lower volumes in most other businesses and $12 million in higher corporate costs which includes $8 million of costs related to a facility fire.

Inteplast BOPP Films, manufacturer of biaxially oriented polypropylene films, and VerdaFresh, a provider of sustainable food packaging solutions, have collaborated on a high barrier flexible film that will extend food shelf life and reduce packaging waste. Paul Marquard, general manager and vice president of BOPP Films, said that this project supports eliminating food waste through sustainable packaging. “Alongside VerdaFresh, we’re developing packaging and film solutions that meet the demand for sustainable yet economical barrier packaging. Our oriented films, with their high moisture barrier, perfectly complement VerdaFresh’s coating technology and ensure superior oxygen protection. Together, we’re addressing the critical need to protect products and extend shelf life while embracing sustainability and functionality,” said Marquard.

*First quarter net earnings of $56 million *First quarter results negatively impacted by approximately $52 million (pre-tax) due to January freeze and Ixtac, Mexico fire *First quarter cash provided by operations of $395 million and returned $161 million to shareholders in dividends

ECP (Engineered Coated Products) Division of IPG (Intertape Polymer Group), a leading manufacturer of polyolefin products, proudly unveils Claro™ Greenhouse Fabrics, an innovative woven polyethylene fabric designed to revolutionize greenhouse farming. Claro is 100% PVC-free and sets a new standard for longevity, durability, performance, and environmental responsibility in the agricultural industry. Engineered to meet the evolving demands of modern agriculture practices, Claro is woven from highly stabilized clear HDPE tapes and finished with LDPE coating. This unique construction offers a range of HDPE products with varying properties to suit different agricultural needs.

Peter Oswald, MM CEO, comments: “The MM Group recorded a decline in both Group sales and adjusted operating profit in the 1st quarter of 2024 compared to the previous year’s value, due to the earnings performance in the Board & Paper division. The destocking in the supply chain has been largely completed, leading to a significant recovery of volumes sold in Board & Paper. However, pressure on margins continued as expected, as price increases will only compensate for the recent rise in production costs from the 2nd quarter onwards. In contrast, the Packaging division recorded a slight increase in results compared to the previous year, even though the margin was below the strong level of the 3rd and 4th quarter of 2023. Against this background, the profit & cash protection programme, which has already been successfully implemented, and the measures to intensify market penetration will be systematically continued in 2024.

January–March 2024 (compared to 1–3/2023): *Sales were EUR 483.7 million (542.1). *The comparable operating result was EUR 31.5 million (88.7), or 6.5% of sales (16.4). Operating result was EUR 23.0 million (88.4). Events in January–March 2024: *Demand for Metsä Board’s fresh fibre paperboards picked up notably from the previous quarter. The average price of folding boxboard decreased. *Demand for market pulp was boosted by paper and paperboard producers’ higher capacity utilisation rates in Europe. The average prices of market pulp improved, especially in Europe.

Metsä Board, part of Metsä Group, has made an investment decision to renew the folding boxboard machine at Simpele, which will improve the quality of folding boxboard and increase production efficiency. The investment will enable the replacement of fossil fuels in paperboard production, and supports Metsä Board's target of fossil free production at all its mills by the end of 2030. The renewal will increase the mill's production capacity by around 10,000 tonnes, which will bring the annual production capacity of Simpele folding boxboard to around 310,000 tonnes. The Simpele mill produces high quality lightweight folding boxboard, mainly for food and pharmaceutical packaging. The investment will start immediately and is expected to be completed in the second half of 2025. The investment value is approximately EUR 60 million, divided over the period 2024–2026.

January–March 2024 (1–3/2023): *Sales were EUR 1,457 million (1,634). *Operating result was EUR 58 million (276). Comparable operating result was EUR 70 million (276). Events during the first quarter of 2024: *The average sales prices of Metsä Group’s long-fibre pulp increased in Europe and decreased slightly in China compared with the previous quarter. *Demand for market pulp increased in Europe and North America. In China, demand remained at a good level. *Demand for Metsä Group’s paperboards picked up substantially from the previous quarter. The average price of folding boxboard declined.

On April 24th, the European Parliament adopted the provisional agreement on the new packaging and packaging waste regulation #PPWR. The regulation is important for the transition to a circular plastics economy. Trioworld already today offers packaging alternatives that meets the legislations, such as film that is thinner and thus contains less material, products that are designed for recycling and contains recycled or bio-based content. All without compromising on performance and quality. An important change, compared to the legislation we have today on packaging and packaging waste, is that the legislation goes from a directive to a regulation. Thereby the new legislation will ensure that all 27 Member States within EU fulfil their obligations at the same time and in the same way. With the same requirements for all market players a necessary harmonization will take place. That will lead to more investments in innovative and more sustainable packaging solutions.

The American Forest & Paper Association (AF&PA) released its Q1 2024 Boxboard report. According to the report, total boxboard production in Q1 decreased 2% compared to Q1 2023. The boxboard operating rate in Q1 2024 was 89.2%, up 1.3 points from the same quarter last year. *Solid Bl. Folding - Domestic production increased 3% compared to Q1 2023. *Solid Bleached Boxboard unmade orders were up 22% compared to the end of the previous quarter and decreased 14% compared to March 2023. *Uncoated Recycled Boxboard production remained essentially flat (-0.3%) compared to Q1 2023.

Greif, Inc. is finalizing construction on their new bulk corrugated manufacturing facility in Dallas, Texas. Scheduled to open later this spring, the new facility will significantly expand Greif's capacity in the bulk corrugated business and create opportunities in the South and Southwest regions of the United States, as well as Mexico. The Greif CorrChoice Dallas plant will primarily make triple wall sheets and jumbo boxes and will have capabilities that include inline gluing and stitching. These products will serve the industrial and agricultural industries.

O-I Packaging Solutions, along with Revino, announce the introduction of returnable, reusable glass wine bottles to advance​ the​​ ​sustainability of wine packaging​, first rolling out in Oregon and extending soon to the west coast​​. O-IPS, a global manufacturer of sustainable glass packaging, will locally produce more than 2.4 million reusable glass wine bottles as part of Revino’s return system. Revino was founded to revive the reusable glass bottle ecosystem for beverage producers and consumers. “Glass packaging for wine is made from pure and natural resources that are inert, infinitely recyclable and reliably preserve the integrity of the wine it packages,” said Randy Burns, Chief Sustainability and Corporate Affairs Officer for O-I Glass. “By extending the use phase of the glass packaging through return and refill winery partnerships, Revino is maximizing the sustainability of packaging for environmentally conscious wine producers.” ​​On average, a reusable glass bottle can be reused 25-50 times before being retired and recycled into new glass packaging.

Berry Global Group, Inc. and Glatfelter Corporation announced the achievement of a regulatory milestone in the proposed transaction involving the combination of a majority of Berry’s Health, Hygiene and Specialties segment to include its Global Nonwovens and Films business (“HHNF”) with Glatfelter, with the expiration of the required waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act. As previously announced on February 7, 2024, Berry and Glatfelter entered into a definitive agreement under which Berry will spin-off and merge its HHNF business with Glatfelter in a Reverse Morris Trust transaction. The transaction will create a leading, publicly-traded company in the specialty materials industry. The transaction is expected to close in the second half of calendar 2024 and is subject to approval by Glatfelter shareholders and completion of customary closing conditions.

International Paper and DS Smith Plc announced that they have reached agreement on the terms of a recommended all-share combination (the "Combination"), creating a truly global leader in sustainable packaging solutions. The terms of the Combination value each DS Smith share at 415 pence per share1, and will result in IP issuing 0.1285 shares for each DS Smith share, resulting in pro forma ownership of 66.3 percent for IP shareholders and 33.7 percent2 for DS Smith shareholders, implying a transaction value of approximately $9.9 billion3. The Combination is expected to close by the fourth quarter of 2024. "Combining with DS Smith is a logical next step in IP's strategy to drive profitable growth by strengthening our global packaging business," said Mark S. Sutton, Chairman and CEO of IP. "DS Smith is a leader in packaging solutions with an extensive reach across Europe, which complements IP's capabilities and will accelerate growth through innovation and sustainability. We are confident this combination will drive significant value for our employees, customers, and shareholders."

As a global leader in the development of value-added dispensing closure solutions, Aptar Closures continues to deliver on its commitment to design for recyclability while providing convenience and safety to end-consumers. One of the most recent introductions to the market is Future Disc Top, a fully recyclable* closure that was also made to withstand the rough e-commerce journey to provide peace of mind to brands and consumers. Ideal for the beauty and personal care categories, Future Disc Top stands out on several fronts. Made entirely from polyethylene (PE), which is one of the most commonly recycled packaging materials in the world today, it allows brand owners to deliver more recyclable packaging for a wide range of products. This is the first of its kind in the market, helping to solve the problem of mixed-material packaging, where only the container itself can be recycled. To ensure full recyclability, Future Disc Top should be paired with a suitable PE or PET bottle. Notably, a version made from post-consumer recycled (PCR) content is also available, further demonstrating Aptar Closures’ commitment to providing strong solutions aligned to circular economy principles, and to helping brands deliver on their sustainability promises.

Following its recent acquisitions of packaging sites in Hungary, Poland, and Czech Republic, Coveris’ acquisition of Hadepol Flexo will mark the company’s fourth acquisition in CEE and the continuation of its strategy to invest in selected geographies and markets. With this deal, Coveris said it has achieved its strategic goal to better balance the operations footprint and become a leader in the CEE markets. The acquisition is subject to customary regulatory clearance and is expected to close towards the middle of Q2 2024. Founded in 1994, Hadepol Flexo operates two production facilities located in Rypin, Poland and specialises in paper and film-based packaging for bakeries and supermarkets, mainly for the domestic market.

Amtech, LLC, an industrial software solutions provider to the packaging industry, has completed its acquisition of Label Traxx and its software suite for the label printing and flexible packaging segments. According to Amtech, the combination further solidifies Amtech’s position as a sought-after industrial software platform to the packaging industry. The combined company will provide software solutions to more than 750 customers and 1,200 manufacturing sites spanning packaging end markets across the globe, including in North America, Latin America and Europe. Label Traxx provides a comprehensive software suite with end-to-end capabilities including ERP, MES, MIS, CRM, and other solutions that are complementary to Amtech. The company serves a diverse, global customer base spanning more than 500 manufacturing sites that supply a wide variety of end markets.

ANDRITZ automation and digitalization experts invite you to join them for a webinar to dive into the future of tissue production – from cutting-edge operational methodologies to artificial intelligence for a more efficient, sustainable, and autonomous tissue production. April 24, 2024 at 11:00 AM GMT (Greenwich Mean Time). Major topics presented: How can digital trends revolutionize tissue production and how can digital integration in plant life cycles be done? What does operational excellence mean and how can it be implemented in new and existing mills? How to reach significant reductions in raw material and energy consumption and thus minimize the environmental footprint? How can the strategy for OT cyber security look like? *Competitive edge in tissue, by Georg Krogger, Director Capital Automation and Digitalization Sales *Metris – simplify operations, by Daniel Schuck, Vice President Digital Solutions *Metris – improve operator experience, by Neeraj Nagpal, Director Digital Products & Solutions *A lifetime of operational excellence, by Erich Gatterer, Director Business Development and Sales, Automation and Digitalization

WestRock Company announced that its FENIX™ Bio Locking Tag has earned the U.S. Department of Agriculture (USDA) Certified Biobased Product Label. The FENIX™ Bio Locking Tag represents a renewable alternative to petroleum-based products, using up to 88% fewer fossil fuel-based plastics than traditional plastic options. These plant-based horticulture tags enable WestRock customers to achieve plastic-reduction goals while ensuring critical functionality in greenhouse, nursery and retail environments. “WestRock is very proud to receive a certification from the USDA recognizing the role our products play in ensuring a more sustainable future,” said Sam Shoemaker, president of Consumer Packaging at WestRock. “Our teams are committed to pioneering technological advances and innovative product solutions to help our customers reach their sustainability goals.”

Metsä Board, part of Metsä Group, inaugurated its upgraded folding boxboard machine in Husum, Sweden, on the 11th of April. In 2016, Metsä Board started up a new folding boxboard machine, BM1, in Husum with a capacity of 400,000 tonnes/year. An investment of EUR 230 million was completed in 2023 to increase the annual capacity of the BM1 folding boxboard machine to respond to the growing demand for sustainably produced packaging materials that support the circular economy. With an increased annual capacity of 600,000 tonnes of folding boxboard, the BM1 is Europe's largest and most modern of its kind and is run with 98% renewable energy. “With the investment in the folding boxboard capacity at Husum, Metsä Board is well positioned to meet the growing demand for fibre-based packaging materials. We are dedicated to supporting our customers with high quality and resource-efficient solutions that help replace fossil-based materials and support the circular economy,” says Mika Joukio, CEO, Metsä Board.

IPG (Intertape Polymer Group) announced that its Danville, VA manufacturing plant, which produces carton sealing tape, stretch film, air pillows, and polyethylene (PE) tape, was awarded TRUE Zero Waste Certification under the TRUE (Total Resource Use and Efficiency) rating system. Administered by Green Business Certification Inc. (GBCI), TRUE helps facilities measure, improve, and recognize zero waste performance by encouraging the adoption of sustainable waste management and reduction practices, which contribute to positive environmental, health and economic outcomes. The Danville, VA facility is the first IPG manufacturing plant to obtain this certification. The IPG Danville team has implemented numerous recycling initiatives over the years and now has a diversion rate of 97.5%. In 2023, the plant diverted over 16 million pounds of material from the landfill, mostly through recycling efforts. By implementing the TRUE Zero Waste program, the plant has enhanced its already robust culture of zero waste.

Beverage makers such as Rockstar and Celsius are innovating to keep their current consumers and reach new ones — and packaging manufacturers are along for the ride. When energy drink manufacturers work with packaging supplier WestRock on projects such as rethinking their multipacks, they have a few requests. “We see the ongoing ask of us as suppliers to do things better, faster, cheaper, more sustainable,” said John Perkins, vice president of global packaging systems at WestRock. It may seem like a laundry list, but it’s critical in the buzzing sector that is energy drinks. Established companies, like Monster and Red Bull, are revamping portfolios and packaging designs.

Georgia-Pacific today announced an investment of more than $150 million to rebuild a paper machine at its mill in Wauna, Oregon. This investment will rebuild a 1965-vintage paper machine into a world-class machine to make paper for Angel Soft® and strategic private label bath tissue. This modernization project helps position the mill and the overall business to continue to be competitive in the market. Engineering and related work has begun, and startup of the machine is scheduled for 2026. At peak construction, 500 construction and contract-related workers are expected to be onsite at the mill. “We are excited to invest in our market leading Angel Soft® bath tissue and strategic private label brands we support," said Vivek Joshi, president of Georgia-Pacific's retail tissue, towel and napkin business. "This investment will allow us to grow these brands and continue to serve our loyal consumers with the great quality they have come to expect.”

The partnership will see the two companies collaborate to accelerate the transition from plastic to paper bags within the e-commerce marketplace in Europe at scale, and the solutions will be available to customers across all DS Smith markets in Europe. DS Smith and Jonsac will provide an product range to meet customer requirements while looking ahead at the types of packaging solutions that will be valuable for the ecommerce sector in the future, in line with key market requirements and fast changing consumer trends. The bags will be 100% fibre-based and recyclable, and DS Smith customers will benefit from the opportunity to order consignments at high-volume in support of their ecommerce activities. The new agreement between the companies represents an addition to an existing arrangement where Jonsac supply paper bag packaging solutions to DS Smith customers within the Nordics region.

After promising results from the ongoing demonstration phase, Metsä Group has decided to conduct, in parallel with the demo phase, a pre-engineering project related to a possible first commercial-scale factory. Muoto™ packages are renewable and recyclable bioproducts that can be utilised in, e.g., takeaway, berry, tray, and combo packaging. Metsä Group’s innovation company Metsä Spring has decided to start a pre-engineering project for the first commercial factory producing the new packaging solution, Muoto™. Muoto products are wood-based alternatives to plastic packaging. Pre-engineering is a key planning phase, after which Metsä Group will have the conditions of factory planning in place to consider deciding on the factory investment, and it is expected to be completed in early 2025. Based on the outcome of pre-engineering and the continued work in the demo phase, mainly using a unique demo plant in Äänekoski, Finland, Metsä Group will assess the possibility of starting this new business and investing in a factory to support that business. Metsä Group has already decided that the possible factory would be located at its Rauma site in Finland.

Sonoco Products Company and ENGIE North America announced that they have entered into a Virtual Power Purchase Agreement (“VPPA”) for production from ENGIE’s Big Sampson Wind Project (“Big Sampson”), a wind power project currently under construction in Crockett County, Texas. Under the VPPA and subject to certain conditions, Sonoco and ENGIE have agreed to contract for an estimated 140 megawatts of electricity per year, representing approximately 48% of Sonoco’s U.S. electricity consumption in 2025 and approximately 52% of the expected output capacity of Big Sampson, for a term of 15 years commencing upon Big Sampson’s entry into commercial operation. The VPPA represents another step in Sonoco’s integrated approach to corporate sustainability. The Company aims to reduce global Scope 1 and Scope 2 emissions by 25% by 2030 from a 2020 baseline through various corporate initiatives, including improved packaging design, installing energy-efficient equipment and procuring renewable energy sources. The VPPA is an example of these efforts, with renewable energy credits acquired under the VPPA expected to help reduce Sonoco’s baseline carbon emissions by approximately 14%.

Today’s food and beverage (F&B) companies are poised to minimise plastic as a favoured2 packaging material, as recent research has unveiled that three out of the top five commitments made by business leaders to address sustainability challenges include the reduction of plastic usage.3 Tetra Pak’s research examined F&B manufacturers’ attitude to sustainability, now and in five years' time.4 Half of the surveyed businesses pinpointed consumer demand as the main catalyst behind implementing new sustainable solutions within the manufacturing and processing arena. This echoes the sentiment found in a separate Tetra Pak consumer study on packaging.5 It found the intention to buy among almost three out of four respondents (74%) would increase if a brand talked about environmental topics,6 while 42% believe that an “environmentally sound package” justifies a higher price,7 providing the industry with a reassuring case for adopting a business model that reduces environmental impact.

In the dynamic landscape of biological research, efficient preservation of nucleic acid samples is crucial for unlocking insights into the genetic makeup of various organisms. However, this task can prove challenging, particularly in the case of plant specimens where degradation can occur rapidly. For this purpose, Ahlstrom, a global leader in life sciences and molecular diagnostics, announces the extension of its specimen collection cards portfolio with the addition of LeafSaver, a card designed for the collection, transport, and storage of plants, fungi, insects, and parasites. Unlike traditional preservation methods, which often require freezing or refrigeration, Ahlstrom LeafSaver allows DNA preservation directly on the card at ambient temperature. This eliminates the need for specialized storage conditions, simplifying logistics, bringing sustainability benefits and reducing costs associated with cold chain transportation. The card can also be shipped by regular mail without the need for plastic wrapping, such as a plastic envelope or bag.

International Paper Company is pleased to provide an update on its possible offer for DS Smith plc, pursuant to which International Paper would acquire the entire issued and to be issued share capital of DS Smith. International Paper confirms that significant progress has been made in reciprocal due diligence as facilitated by the DS Smith Board and Management, and that it is now in a position to provide shareholders with more detail on the type and quantum of synergies it believes would arise from the Combination. Corrugated packaging solutions is a core component of DS Smith's business. Due diligence has confirmed International Paper's belief that the Combination will significantly strengthen the combined packaging business and customer offerings – with packaging representing 84% of International Paper's current sales, approximately $1.5 billion (£1.2 billion1) of which is driven from European sales.

Inteplast Group acquired Brown Paper Goods, which is now rebranded as Brown Paper Products (BPP). The paper manufacturer is located in Waukegan, IL, and Coppell, TX, with four locations comprising plants and warehouses. Brown Paper Products will operate under Inteplast Group’s IBS Division. In 2023, leading sales for Brown Paper Products include pinch bottom bags for various prepared hot and cold foods; sandwich, foil, and sub wraps; self-opening sacks; tin tie bags, butcher and freezer rolls, and more. Group President Dr. John Young welcomed BPP Owner Allen Mons via an internal announcement on Wednesday, April 3. “We are honored and humbled to welcome a great dedicated team led by Allen. Brown’s century-old reputation for service and quality is well-known to the marketplace, and we intend to continue the same legacy under Allen’s leadership. We are also happy to be able to address our customers’ needs as part of an ever-changing and evolving landscape that also mirrors our own drive towards supporting a circular economy as applied to both paper and plastics packaging,” Dr. Young said.

Adestor by Lecta, Lecta's self-adhesive material branch, is proud to announce its platinum partnership with RecyClass, a key European initiative promoting plastic recyclability. This partnership reflects Adestor's ongoing commitment to minimizing environmental impact and accelerating the transition towards a circular economy within the labelling industry. Adestor by Lecta actively collaborates with customers, suppliers, and industry partners to drive circularity throughout the entire value chain. This collaboration is especially crucial for market segments heavily reliant on self-adhesive plastic materials like PP and PE, such as cosmetics, home care, electronics, and beverages. RecyClass, a non-profit organization, brings together stakeholders across the plastics value chain to improve recyclability, enhance transparency in plastic waste origin, and establish standardized methods for calculating and tracking recycled plastic content in Europe.

CANPACK Group and BA Glass announce that on April 2nd they have finalized the sale of CANPACK’s Glass operations in Poland to BA Glass. Consequently, the glass plant located in Orzesze was transferred to BA Glass and became part of its operations in Poland. Marius Croitoru, CANPACK Group CEO stated: “As we close this transformative chapter with the sale of CP Glass assets, we are strategically aligning our focus on our core businesses and maximizing value for our stakeholders. The proceeds from this transaction will empower CANPACK to further support our general corporate objectives. We extend our heartfelt acknowledgments and best wishes for continued success to our former colleagues. Together, we’ve built a legacy, and we look forward to their great success as part of BA Glass.” Tiago Moreira da Silva BA Glass CEO added: “For BA Glass Group this acquisition fulfills an objective long waited for the group in Central Europe. To have a greater representation in the market and to diversify its portfolio of products has always been limited to our capacity, now, with CP Glass, we will be able to do it and better serve the Central European market. We are happy to have finalized this operation and eager to start integrating CP Glass in our values and vision.”

The new state-of-the-art 4-colour converting machine will produce the well-known FEFCO 0201 bespoke boxes and alternative grades for customers. It is currently in start-up phase and equipped with an advanced automatic inline error detection system. The computer-controlled technology will check the quality of the printing and gluing and enhance the accuracy of the machinery while applying additional preciseness to the die-cutting lines in the packaging and folding process. Philip Bautil, Managing Director of DS Smith Benelux: “We are thrilled to take this new step in our ongoing commitment to excellence and sustainability. This investment underscores our dedication to delivering high-quality packaging solutions that meet the needs of our customers while contributing to a more sustainable future,”

Papira® by Stora Enso proudly supports Baiba Glass – literarily. Our fiber-based and fully recyclable cellulose foam makes sure that Baiba’s fragile pieces safely find their way to show rooms and new homes all over the world. Glass artist Baiba was in need for a packaging solution that would protect her artwork without compromising on neither aesthetics nor sustainability. In Papira® by Stora Enso, she found a lightweight solution with excellent shock absorbing properties to support her pieces. All while providing a sustainable, streamlined and smart looking package. Papira® was cut into a perfect fit for Baiba. And in collaboration with the sustainable paper cable tie FibreStrap, Stora Enso designed a packaging solution that is bio-based, recyclable, and biodegradable – made of materials from sustainably managed forests. All while staying coherent with the Baiba brand. “Baiba Glass creates unique art pieces, and the packaging should reflect the essence of this. There is so much thought behind every piece, and we loved the challenge to capture the beauty and intention in the box as well as in the opening experience”, says Paula Martirez, Business Development Manager at Stora Enso.

This strategic acquisition positions us for accelerated growth, enhanced capabilities, and a strengthened ability to deliver exceptional value to our customers and stakeholders in Eastern Europe. With a specific focus on fast-moving consumer goods (FMCG) customers, Bosis doo is particularly well-suited to complement our regional strategy, which emphasizes sustainable performance packaging and targets further growth opportunities in the region. DS Smith and Bosis doo will leverage their collective strengths and expertise to offer innovative packaging solutions. Plastic replacement is a key focus area for us, and we recently achieved the milestone of over 762 million units of plastic replaced since March 2020. We continue to work closely with customers to help them address their sustainability goals and we will seek to accelerate this progress in the East Region.

Ahlstrom, the global leader in masking and packaging tape base papers, has finalized an investment to upgrade and convert a paper machine in its Thilmany plant in Wisconsin, USA, to produce stretchable creped base papers for masking tape and is now ramping up the production. The new investment adds a crepe paper production capacity of 30,000 tons per year. “This investment is a response to our customers’ increased volume demand and their need to move towards a more regional material supply. With the investment, we can better focus our assets in Asia and Europe to supply their nearby markets, and we will now enhance our capability to supply the markets in the Americas through this new investment,” says Sohrab Kazemahvazi, Vice President for Ahlstrom’s Tape business.

Crown Holdings, Inc. has received the Aluminium Stewardship Initiative (ASI) Chain of Custody (CoC) Standard V2 (2022) Certification for its Mexican operations—the latest addition to a series of responsible sourcing credentials around the globe. By monitoring materials into their downstream stages, the certification aims to verify whether organizations maintain due diligence as their products move throughout their complete life cycles. For Crown, this achievement underscores a commitment to transparency and demonstrates a focus on product stewardship as part of the Company's Twentyby30™ sustainability program. The ASI CoC Standard V2 applies to the production of beverage cans, can ends and ROPP closures at Crown Mexico facilities, including Crown Ensenada, Crown Guadalajara, Crown Toluca, Crown Latas Monterrey, Crown Cierres Monterrey and its headquarters in Monterrey, Mexico. Comprising a collective annual production capacity of 6.85 billion beverage cans, 6.7 billion can ends and 400 million ROPP closures, the facilities originally received Performance Standard V2 (2017) in January 2022.

Greif, Inc. announced that it has completed its previously announced acquisition of Ipackchem Group SAS ("Ipackchem"). "We are thrilled to welcome an exceptional 1,400 Ipackchem colleagues to Greif," said Ole Rosgaard, President and Chief Executive Officer of Greif. "Adding Ipackchem to the Greif portfolio is another key step forward in executing our Build to Last strategy and helps unlock significant new capabilities and market opportunities to further grow as a world leader in high-performance small plastic containers and jerrycans. Our teams have been planning our integration strategy over the past several months, which we will begin implementing immediately post-closing to drive incremental benefits, support future growth, and capture our targeted $7 million of synergies. I would like to extend my deep gratitude to every member of the Greif and Ipackchem team for their unparalleled dedication and excellent collaboration in planning post acquisition integration.”

On 21 March 2024, a gas explosion occurred at the evaporation plant of Metsä Board's associated company Metsä Fibre's Kemi bioproduct mill. Three people were slightly exposed to hydrogen sulphide and were referred for a health check. The persons have returned to work after the check. Metsä Board's Kemi board mill, which produces white kraftliner, is part of the Kemi integrated mill. Metsä Board's board mill was not damaged in the explosion, but the mill is not operational because unbleached pulp cannot be produced without the chemical recovery of the bioproduct mill. Due to repair work of the evaporation plant at the bioproduct mill, Metsä Board's board mill is currently estimated to be out of production for approximately 10–12 weeks. The company investigates the possibility of restarting the board production at a significantly lower production level than normal during the repair work at the bioproduct mill. In addition, the company explores possibilities to offer alternative products to customers.

We partnered with Filir d.o.o, a distributor of some of the world’s best known confectionary brands to Croatia, to remove traditional plastic packaging for Easter snacks and candies and replace with a sustainable fibre-based solution in time for Easter. The new packaging is 100% recyclable sustainable packaging solution and designed to contain less materials and minimise waste. It has an extended lifecycle for reuse as a gift bag. Key features include a locking system that is intended to prevent the chocolate boxes from being opened before use. The product is part of a unique ‘unboxing’ experience whereby the product inside is intended to be a surprise. The chocolate boxes are easy to assemble and fitted with a corrugated cardboard carry handle for additional versatility and usability.

The FPA Achievement Awards have showcased packaging industry innovation since 1956. This year, there were a record 333 entries, with 22 ultimately honored. Amcor’s eight winning entries span a range of packaging applications and categories: *McCoy™ Dunnage Free IBC Liners for bulk aseptic products received three awards: Gold for Sustainability, and Silver for Expanding the Use of Flexible Packaging, and Technical Innovation. *Tyson Foods Foam Tray Replacement with Forming/Non-forming Film earned a Silver Award for Sustainability. *HealthCare™ AmSky™ Blister System was honored with a Silver Award for Sustainability. *Dual Function Frozen Yogurt Package received three awards: Gold for Technical Innovation, and Silver for Expanding the Use of Flexible Packaging, and Packaging Excellence.

We’ve partnered with sustainable cable tie pioneer EVLR International to introduce FibreStrap to North America. FibreStrap is the world’s first fiber-based zip tie, designed to replace the traditional plastic cable tie when bundling, securing, or attaching items. FibreStrap’s patented design makes it easy to replace current plastic zip tie solutions in nearly any industry. FibreStrap is made from sustainable forest products, reduces carbon emissions and water usage by more than 80 percent, and has the performance characteristics required by the most demanding applications.

Navigator Paper UK Limited is pleased to announce it has launched a public all-cash firm offer to acquire the entire issued and to-be-issued share capital of Accrol Group Holdings plc, a tissue paper converter based in the United Kingdom (UK). The offer is being implemented pursuant to a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act. Accrol is a leading tissue converter and supplier of toilet tissues, kitchen rolls, facial tissues, and wet wipes to many of the UK's leading discounters and grocery retailers across the UK.

The close collaboration between Koehler Paper and Leipzig-based chocolate manufacturer nucao is paying off: nucao chocolate bars will be packaged exclusively in paper with immediate effect. The flexible packaging paper “Koehler NexPlus® Advanced” from Koehler Paper, which has excellent oxygen, mineral oil, and grease barrier properties is not only suitable for packaging of chocolate-coated fruit products. The 100 percent recyclable paper is suitable for vertical packaging machines and now also for processing on horizontal packaging machines. Over the past few months, the Koehler Paper team worked together with researchers and developers from Koehler Innovation & Technology to develop the flexible packaging paper “Koehler NexPlus® Advanced” for use on horizontal packaging machines. “From a technical point of view, this is revolutionary as vertical packaging machines have a very high production speed. Paper needs excellent strength properties to be processed in this way, without being too thick for the machines to handle it,” explains Alexander Rauer, Head of Business Development for flexible packaging paper at Koehler Paper.

Metsä Board announced on 15 September 2022 that it will start pre-engineering for a new folding boxboard mill in Kaskinen, Finland. The pre-engineering has now been completed and Metsä Board has decided not to proceed with the investment in the Kaskinen folding boxboard mill. The total cost of the planned investment was significantly higher than originally estimated, meaning that the targets for payback time and return on capital employed would not have been met. Metsä Board has decided to launch programmes for new product options as well as growth and development investments at its existing mills in order to implement its strategy to grow in fibre-based packaging materials and renew its industrial operations. The programmes will support Metsä Board's target of fossil-free production by the end of 2030. In addition, the company will continue to develop packaging solutions that reduce the use of plastics.

UPM Specialty Papers and Fazer have jointly developed a new type of packaging for Fazer's Oat Rice Pies. Traditional plastic laminated packaging paper has been replaced with an innovative paper solution, which is easier to recycle and does not compromise the protection it provides the rice pies inside. The award-winning packaging has been recognized in the WorldStar, ScanStar and New Wood competitions and can already be found in the chill food aisles of Finnish supermarkets. The new Fazer Oat Rice Pie packaging is in line with both Fazer's Sustainable Packaging Vision and UPM's Biofore strategy. The new packaging solution is the result of more than two years of long-term development work to ensure the recyclability of the packaging without compromising food safety and the quality of the rice pies.

Colbert Packaging announces the promotion of Account Executive Ryan Hart to the role of Vice President, Sales and Marketing. Ryan has led a successful career in the packaging industry since 2002 when he joined Barger Packaging in Elkhart, Indiana. When Colbert acquired the Barger facility in March 2004, Ryan joined Colbert and transitioned into a sales role where he was responsible for new business development, gaining valuable experience early in his career. “I am passionate about forging deep relationships with my customers through unparalleled responsiveness, and fostering enjoyable, solution-driven experiences for customers and prospects alike,” states Hart. In this new role, Ryan leads Colbert’s sales and marketing efforts in pursuit of growth opportunities across multiple industries with a core focus on the healthcare sector.

Eco-Products® announced today that it has added a variety of paper bags, sandwich wraps and other items to its GreenStripe® line of compostable products. The products, available now as part of the Eco-Products bundle, are made with no-added PFAS and are ideal for restaurants, supermarkets, convenience stores, bakers, concessions and other foodservice operators. Each of the products is certified by the Biodegradable Products Institute, meaning all have undergone rigorous testing to prove they are compostable in commercial facilities.

Amcor announced that after nine years as Chief Executive Officer (CEO), Ron Delia has informed the Board of Directors of his decision to retire from the Company and step down from the Board for health reasons, effective April 15, 2024. The Board has appointed Peter Konieczny, Amcor’s current Chief Commercial Officer and a long-standing member of the Company’s Global Management Team, as Interim CEO. Mr. Delia will provide continued support in an advisory role until September 30, 2024, to facilitate the transition. The Board is conducting a thorough search process to identify a permanent successor for the CEO role, which will include internal and external candidates.

ProAmpac announced the acquisition of UP Paper, a leading producer of recycled kraft paper. Terms of the transaction were not disclosed. “The UP Paper team has done an incredible job building this great business. We look forward to building on their existing relationships and production expertise to serve our customer base with a broader suite of sustainable packaging products,” said Greg Tucker, Founder, Vice Chairman and Chief Executive Officer of ProAmpac.

Koehler Paper has launched the world’s lightest heat-sealable flexible packaging paper - Koehler NexPlus® Seal Pure 36 gsm. Despite its low grammage, Koehler NexPlus® Seal Pure 36 gsm has high strength and is ideal for further processing on commercially available packaging machines for horizontal packaging formats, such as flow packs and wrapping paper. The paper’s outstanding surface makes it suitable for flexographic, digital, and gravure printing. The low grammage of Koehler NexPlus® Seal Pure 36 gsm helps to reduce the use of materials in its production, saving valuable resources without having to compromise on essential properties for packaging paper.

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.

Silvernail has two decades of experience leading global companies in the manufacturing and technology sectors. He joins IP from KKR & Co., Inc., a global investment firm, where he served as an executive advisor. Silvernail served as the Chairman and CEO of Madison Industries, one of the world's largest privately held companies. Prior to that, Silvernail served as Chairman and CEO of IDEX Corporation from 2011 to 2020. Employee engagement reached best-in-class performance and total shareholder return grew by more than 500% during his tenure at IDEX. Silvernail previously held executive positions at Rexnord Industries, Newell Rubbermaid and Danaher Corporation. He currently serves on the Board of Directors of Stryker Corporation. International Paper Lead Director Chris Connor said, "Andy is an experienced CEO with an extensive track record for creating value. His strategic agility, core values and drive for results align with and will enhance IP's outstanding leadership team. We are confident that he is the right person to build on the success achieved under Mark Sutton's leadership."

According to its 17th Sustainable Development Report published today, Smurfit Kappa has achieved its targets on: *Waste: achieving a 35.8% reduction in waste sent to landfill, ahead of its 2025 target of 30% (24% in 2022) *Forestry: achieving 95.5% of packaging sold with Chain of Custody certification, ahead of its 2025 target of 95% (94.3% in 2022) *Communities: €25.6 million donated to support social, environmental and community initiatives, ahead of its 2025 target of €24 million (€18.4 million in 2022) *Diversity: 25.1% of management positions were held by women at the end of 2023, ahead of its 2024 target of 25% (23.5% in 2022).

Fourth quarter 2023 net income (loss) was $(35.6) million compared to $(3.9) million in the fourth quarter of 2022. Net income (loss) from ongoing operations, which excludes special items, was $(0.1) million in the fourth quarter of 2023 compared to $0.5 million in the fourth quarter of 2022. Full year 2023 net income (loss) was $(105.9) million compared to $28.5 million in 2022. Net income (loss) from ongoing operations was $(4.7) million in 2023 compared to $39.5 million in 2022.

SLP Resources Bhd will spend RM20mil to upgrade and expand its production capacity in 2024 to meet rising domestic demand for its flexible plastic packaging products. Group managing director Kelvin Khaw told StarBiz that in 2023, the domestic market contributed about 60% to the group’s revenue. “We expect the trend to continue this year as Malaysia’s gross domestic product (GDP) is forecast to grow between 4% and 5%.

Pitt Plastics staff, along with the Pittsburg Chamber of Commerce Koehn Construction Services, and key city staff gathered on East Atkinson Avenue at a groundbreaking ceremony for the new facility. The expansion will result in additional jobs at a scope to be determined upon the project’s expected completion by January 2025. Pitt Plastics is an Inteplast Group affiliate company within the IBS Division. The 200,000 sq.-ft. facility will house racked, finished goods, and also encompass 14,000 square feet of office space. Currently, the existing site is 300,000 square feet and employs approximately 350 manufacturing professionals serving consumer, commercial, healthcare, and foodservice markets. Pitt Plastics General Manager Aron Jahr said that Pittsburg and the surrounding areas in Crawford County have supported the company’s growth for more than five decades.

Neenah Industrial Solutions, a Mativ brand and leading manufacturer of critical components and specialty solutions, announces a name change and rebrand to Indafor. The rebrand provides the perfect opportunity for Neenah Industrial Solutions to move beyond the legacy parent company Neenah-based name and adopt a new name, look, contemporary website, and updated marketing collateral, resulting in the launch of the Indafor brand in March of 2024. The new Indafor name pays homage to the brand’s more than a century-old history of strength, innovation, and industrial solutions by marrying the words industrial and the Latin word for strong, fortis. The brand’s tagline, “Where it all comes together,” positions it for a future of continued partnership, process, and progress in pressure-sensitive tape backings, performance labels, medical packaging, dispersible technology, abrasive backings, and specialty paper markets.

Aptar announced the next phase of its global capacity expansion plan in North America, at its Aptar Congers, New York site. This investment will help Aptar meet the growing prescription and consumer healthcare customer demand for proprietary drug delivery systems in North America. The North America Capacity Extension will benefit local customers. Manufacturing began at Aptar Congers in 2002 with a cleanroom and the production of Aptar Pharma’s VP3 pumps, and today the site manufactures a wide range of proprietary drug delivery products for nasal and injectable delivery routes. To support increasing patient demand for systemic nasal delivery, Aptar Pharma is significantly expanding the manufacturing capacity of its proprietary Unidose (UDS) Nasal Spray Systems via the addition of molds and assembly lines in cleanroom manufacturing settings, with the additional capacity planned to come online in Q4 2024.

Metalvac FP is Lecta's metallized paper designed for flexible packaging applications that do not require any specific barrier properties, suitable for final applications like chocolate and ice cream cone wrappers as well as other food packaging applications without barrier requirements. The main feature distinguishing this metallized paper is the special treatment applied to it, in accordance with current regulations, to prevent it giving off odors that could alter the smell and taste of food. Metalvac FP undergoes a sensory test whereby the tiniest trace of unusual smells and taste can be detected. Additionally, our paper has several characteristics that make it suitable for this kind of application. The most important are flexibility to be adaptable to various packaging formats, strength and printability for vibrant, high-quality graphics designs and branding.

Ox Industries is increasing efficiency and production capacity with a $5 million investment in new high-speed converting lines across multiple facilities. This sophisticated technology will positively impact the productivity of Ox Industries’ vertically integrated tube and core and protective packaging plants and seamlessly merge with current operations and Ox-owned URB (uncoated recycled paperboard) mill network. Each converting line will have the most innovative automatic roll handling and finished product packaging technology to improve ergonomics, decrease on-the-job injuries, increase productivity, and enhance quality control. All lines will be fully operational in 12 months as Ox Industries strives to be the number one supplier of paper tubes and cores and green protective packaging.

Inteplast Group’s biaxially oriented polypropylene (BOPP) Films business unit has received ISCC (International Sustainability & Carbon Certification) PLUS certification for three facilities: Gray Court, SC; Lolita, TX; and Morristown, TN. Inteplast BOPP Films can now produce and supply ISCC-certified materials that are attributed via a mass balance approach. This makes the company one of the first North American BOPP film manufacturers to hold the ISCC PLUS designation and aligns with its sustainability goals. Paul Marquard, general manager and VP of BOPP Films, says that the ISCC PLUS certification’s mass balance approach fortifies circular economic development and makes waste a restorative resource.

Integrated plastics manufacturer Inteplast Group has secured International Sustainability and Carbon Certification (ISCC) PLUS verification for its three US-based biaxially oriented polypropylene (BOPP) film facilities. The facilities are located in Gray Court, South Carolina; Lolita, Texas; and Morristown, Tennessee. This certification positions Inteplast as one of the first North American manufacturers of BOPP film to obtain ISCC PLUS designation. It will enable Inteplast’s BOPP Films segment to produce and supply materials that are attributed through a mass balance approach.

Earnings as expected below previous year’s record level. • Sharp decline in demand and significant market- and capex-related downtime at MM Board & Paper weigh on results • Strong profit performance at MM Packaging • Comprehensive modernisation programme to increase competitiveness of MM Board & Paper implemented • Successful integration of last year’s acquisitions in the resilient area of pharmaceutical packaging • Positive volume trend for MM Board & Paper at beginning of 2024, however pressure on margins is continuing. Peter Oswald, MM CEO, comments: “After the record result of the previous year, the MM Group faced a significantly lower demand in the paper and cartonboard industry as well as increasing price pressure in 2023. In addition to destocking in the supply chain, inflation-related changes in consumer behaviour which led to lower consumption of everyday goods and the overall economic slowdown in our European main markets were the main causes.

Kimberly-Clark's U.S. Huggies® Brand and select Bright Horizons™ child care centers throughout Boston are teaming up on a new pilot program that aims to offset the environmental impact of used diapers and wipes going to landfill by turning it into electricity, heat or fuel through a process known as Waste-to-Energy. Based on preliminary estimates, over the next year, the pilot program is expected to result in thousands of pounds of trash being diverted from local landfills. "Huggies is passionate about providing innovative solutions to better serve consumers and communities," said Matt Barresi, North American Vice President of the Huggies Brand. "Whether it's having the original Leak Lock® blowout blocker since 1997, a 20% thicker baby wipe* or a solution to help keep diapers and wipes out of landfills, we're proud to partner on this breakthrough program to help create a more sustainable environment."

In alignment with Inteplast Group’s sustainability goals, the BOPP Films business unit has received ISCC (International Sustainability & Carbon Certification) PLUS certification at the following facilities: Gray Court, SC; Lolita, TX; and Morristown, TN. Inteplast BOPP Films can now produce and supply ISCC-certified materials that are attributed via a mass balance approach.** This makes the company one of the first North American BOPP film manufacturers to hold the ISCC PLUS designation. Paul Marquard, general manager and vice president of BOPP Films, said that the ISCC PLUS certification and its mass balance approach fortifies circular economic development in the 21st century, making waste a restorative resource. “Inteplast BOPP Films is committed to embracing the principles of a circular economy, which will shape our operational procedures and product innovation. With our ISCC PLUS certification, we are equipped to provide cutting-edge recycling solutions that align with the objectives of packaging converters and consumer product companies,” Marquard explained. “Ultimately, our certified materials contribute to a significant reduction in the utilization of fossil-based virgin plastics within packaging.”

Soilfood is processing the fibre-based side streams generated in the production of paperboard from manufacturer Metsä Board, into various soil improvement fibres for local farms. Soilfood has previously used these side streams from Metsä Board's board mills at Kemi and Äänekoski. Now the cooperation has been extended to the Tako mill, located in the centre of Tampere. Metsä Board's cooperation with Soilfood started with a research project initiated in 2015 by the Natural Resources Institute Finland. The study looked at how wood-based fibre sludge had the ability to reduce erosion and nutrients leaching from fields to water bodies. The large-scale use of side streams is part of a new circular economy approach, where raw materials are kept in use as long as possible and existing materials are re-used. The two companies are also working together to develop other new solutions for the beneficial use of existing production side streams. "Our goal is to have zero landfill waste from the processes of our paperboard mills after 2030. Currently, more than 99 per cent of our production side streams are used either as materials or energy.

Kruger Products Inc. announced a major increase in its production of Scotties® facial tissues at its Richelieu Plant in Gatineau, Québec. The announcement was made in the presence of Christopher Skeete, Québec Minister for the Economy; Suzanne Tremblay, the Member of the National Assembly for Hull, and Michel Manseau, Senior Vice President and General Manager, Consumer Products – Canada, Kruger Products. Through this expansion project, which received investments totalling $14.5 million and created 16 jobs, Kruger Products commissioned a new facial tissue converting line at its Richelieu Plant in November 2023. The additional equipment will increase the production of facial tissue by 25%. Another component of the project will be rolled out at the Laurier Plant, also in Gatineau, where new equipment will collect tissue production residues. With a view to the circular economy, the residues will be repulped for the manufacture of value-added projects. This component, which is expected to be completed in June 2025, will also enable the Laurier and Richelieu Plants to increase their productivity.

Mondi, a global leader in sustainable packaging and paper, has been awarded the coveted Fastmarkets PPI Award in the Product Innovation category for its Advantage StretchWrap for pallet wrapping. Advantage StretchWrap is a recyclable kraft paper that is made from responsibly sourced materials. Mondi developed it to stretch and resist punctures, making it ideal for replacing the plastic stretch film that has traditionally been used for pallet wrapping and transportation. Advantage StretchWrap has 62% lower greenhouse gas (GHG) emissions when compared to virgin plastic stretch film, and 49% lower GHG emissions when compared to plastic film made with 50% recycled content, according to a peer-reviewed independent life cycle assessment. The Product Innovation Award is presented to companies that demonstrate how a newly developed product solves an existing need or problem. Mondi’s Advantage StretchWrap which is 100% kraft paper, delivers excellent protection for palletised goods due to high strength, puncture resistance and tension absorption.

Pharmaceutical product packaging accounts for a large part of manufacturers’ Scope 3 emissions, which consider, for example raw material production, manufacturing, and end-of-life disposal. According to Metsä Board studies, fresh fibre paperboard can notably reduce the carbon footprint of pharmaceutical packaging by optimising the paperboard in use. Assessments* conducted by Metsä Board demonstrate the significant carbon footprint reductions that pharmaceutical manufacturers can achieve by switching from commonly used grades to Metsä Board fresh fibre paperboards. The lower carbon footprint of Metsä Board’s folding boxboards, compared to the above mentioned boards, is due to the use of fossil free energy in their production and their lighter weight. However, despite the lighter weight, Metsä Board’s folding boxboards still retain the durability and functional properties of traditional heavier grades.

Huhtamaki is planning to consolidate the production footprint in China in the Fiber Foodservice Europe-Asia-Oceania segment and will close its production sites in Tianjin and Shanghai by the end of Q2 2024. The production will be transferred to the manufacturing site in Guangzhou. Additionally, Huhtamaki continues production at the site in Xuzhou. The decision affects 154 employees in the two sites. Huhtamaki will support the impacted employees and provide assistance in finding new employment. The aim of the consolidation is to optimize the manufacturing footprint, improve the competitiveness and strengthen the foundation for future growth in the region. The announced change is part of Huhtamaki’s program to accelerate strategy implementation, announced in November 2023, expected to materially support the profitability of Huhtamaki with efficiency improvements leading to savings of approximately EUR 100 million over the next three years.

Plastics producer, which has a recycled-content product line, will attend the Flexible Packaging Association’s annual meeting to seek customer feedback on sustainability issues. Inteplast Engineered Films (IEF) and Inteplast BOPP Films, makers of packaging films based in Livingston, New Jersey, says it will have staff members at a March business conference in order to “dive deeper into the fluid and frequently shifting landscape of sustainable packaging.” The packaging materials firm, known collectively as Inteplast Group, says it will have a presence at the Flexible Packaging Association’s 2024 annual meeting in Tucson, Arizona, this March 20-22. “We’re very excited about joining the FPA,” says IEF President Bob Stein. “As a guest at the fall 2023 meeting, I found the association’s agenda to be very relevant to IEF and our focus on developing, producing and selling our sustainable films, which are branded under our InteGreen label.

Aptar – Food Protection has been granted the North American license to manufacture and distribute the Halopack Tray system, designed to enhance packaging sustainability for a wide variety of fresh, frozen, reheatable, grab-and-go and oven-able food applications. Called Aptar Halopack, the patented solution is produced with recycled* cardboard and a minimal amount of easily removable film, allowing the package to be recycled in existing cardboard streams once the film is removed.** Compared to conventional plastic-based trays, Halopack’s use of cardboard materials allows for up to a 90% reduction in plastic. More than one billion units have been sold in Europe by Halopack, the Netherlands-based company that invented the product. Aptar Halopack’s sustainability and versatility stems from its simplicity. The paperboard-based tray systems are easy to recycle and fold flat to save recycling bin space for consumers. Custom printing directly on the paperboard, both inside and outside the package, reduces or eliminates the need for additional labels and minimizes manufacturing steps associated with label placement. Additionally, trays are engineered to fit in existing top seal and skin pack equipment with minimal tooling conversion required.

Fourth Quarter 2023 Financial Highlights: *Total Net Revenues of $1,274 million for the fourth quarter of 2023 were down 14% compared to $1,476 million in the fourth quarter of 2022 and down 8% compared to $1,379 million in the third quarter of 2023. *Net Income from continuing operations of $22 million for the fourth quarter of 2023 compared to $27 million in the fourth quarter of 2022 and $28 million in the third quarter of 2023. Full Year 2023 Financial Highlights: *Total Net Revenues of $5,510 million for the year ended December 31, 2023 were down 11% compared to $6,220 million in the prior year. *Net Loss from continuing operations of $222 million for the year ended December 31, 2023 compared to net income from continuing operations of $319 million in the prior year.

Introducing our newest fully-recyclable* and e-commerce-capable locking disc top closure! Named Future Disc Top, this versatile closure is the first in a series of three innovative disc top dispensing solutions the company will introduce globally this year for beauty, personal care and home care applications. Designed with e-commerce in mind, Future Disc Top incorporates a locking/unlocking ring that ensures it remains secure during transit and minimizes potential breakage or leaks. The closure is Amazon ISTA-6 compliant, signifying it can withstand transport hazards normally encountered during handling and transportation. Incorporating Future Disc Top can also help brands meet sustainability goals. Comprised of 100% polyethylene (PE), the first-of-its-kind mono-material, Future Disc Top closure creates a fully recyclable packaging solution when paired with PE and polyethylene terephthalate (PET) bottles.

Amcor is proud to collaborate with Stonyfield Organic, the country’s leading organic yogurt maker, and Cheer Pack North America, a leading manufacturer of spouted pouch packaging, to launch the first all-polyethylene (PE) spouted pouch. The collaboration pairs three leaders in sustainability to innovate a first-to-market solution that provides a more sustainable package without compromise on performance. The new innovative pouch replaces Stonyfield Organic’s prior multi-laminate structure with a more responsible pouch design for its YoBaby refrigerated yogurt. The new pouch uses Amcor’s AmPrima® Plus, an all-PE film that is designed to meet the APR Design® Guide for recyclability, and Cheer Pack North America’s Vizi™ cap. The package removes the metallized or foil-based film layers commonly found in standard pouch structures, while still providing superior heat resistance to allow for spout insertion. With the inclusion of the Cheer Pack North America Vizi™ cap, the amount of plastic used is reduced by over five tons per 10mm caps.

DS Smith, a world leader in sustainable packaging solutions, has unveiled a £48 million investment in a new fibre preparation line (F-line) at their Kemsley paper mill. Forming part of DS Smith’s organic investment program, this multi-year investment will deliver attractive returns through improved efficiency and reduced costs. Kemsley is the largest mill for recycled papers in the UK, and the second largest in Europe. It produces 830,000T of paper every year, all made from 100% recycled fibre. The new line will supply recycled fibre to PM3, which is a highly versatile paper machine, that is capable of producing white top test liner, plasterboard liner and other corrugated case materials (CCM) grades. A state-of-the-art drum pulping and screening system that more efficiently separates contaminants from fibre such as plastics, barriers and coatings will also be installed as part of this initiative.

Winpak Ltd. proudly announces its exceptional achievement in the 2023 Carbon Disclosure Project (CDP) assessment. With an outstanding score of A-, Winpak reaffirms its vision to provide the best packaging solutions for people and planet by addressing climate-related challenges and fostering a greener future. “Our A- score places us in the CDP leadership category and in the top 18% of disclosers for plastic product manufacturing”, said Phillip Crowder, Winpak’s Director of Corporate Sustainability. “This leadership level is a testament to the hard work of every member of our organization and our collective efforts to make a positive impact on the planet. Congratulations to all our dedicated employees on this outstanding accomplishment. Together, we are making a difference!”

First Quarter Financial Highlights include (all results compared to the first quarter of 2023 unless otherwise noted): *Net income of $67.2 million decreased compared to net income of $89.9 million or $1.54 per diluted Class A share. Net income, excluding the impact of adjustments(1), of $72.8 million increased compared to net income, excluding the impact of adjustments, of $61.9 million *Net cash provided by operating activities decreased by $28.4 million to $4.5 million. *Total debt of $2,291.8 million increased by $62.5 million. Net debt(4) increased by $44.2 million to $2,112.5 million. Our leverage ratio(5) increased to 2.53x from 2.20x sequentially, and increased from 2.11x in the prior year quarter.

Inteplast Engineered Films (IEF) and Inteplast BOPP Films, both manufacturers of packaging films, will attend the Flexible Packaging Association’s Annual Meeting in Tucson, AZ on March 20-22, to dive deeper into the fluid and frequently shifting landscape of sustainable packaging. IEF President Bob Stein said the FPA offers an opportunity to gauge customers’ needs. “We’re very excited about joining the FPA. As a guest at the fall 2023 meeting, I found the Association’s agenda to be very relevant to IEF and our focus on developing, producing, and selling our sustainable films, which are branded under our InteGreen label. I see joining the FPA as yet another opportunity to get closer to our customer needs, understand and stay ahead of any changing or expected legislation, and to work closer with all of our partners as we navigate this very dynamic time as a supplier into the flexible packaging industry,” Stein said.

IPG (Intertape Polymer Group) and IMA GROUP with its new E-COMMERCE Division, proudly announce their joint participation at MODEX 2024, one of the premier events dedicated to Supply Chain solutions. The exhibition, to be held March 11-14, 2024, in Atlanta, GA, brings together industry experts, innovators, and businesses from around the world to exchange ideas and explore the latest trends and technologies. IPG is a recognized leader in the development, manufacture, and sale of a variety of paper and filmbased pressure-sensitive and water-activated tapes, stretch and shrink films and protective packaging. IMA E-COMMERCE, born in January 2023 in response to the growing demand of the E-Commerce market, is an innovator in the E-Fulfillment and Intralogistics packaging solutions.

Tetra Pak announced today that it will close its packaging material production in Jurong and consolidate the Singapore-based production into its other factories in the region. This shift will take place over the next 12 months and is part of the company’s continuous strategy to optimise its global manufacturing footprint, serve customers better and adapt to the changing market dynamics. The company will maintain a strong business presence in Singapore to support its global growth with core operational functions, including business management, project centres, IT, human resources, finance and marketing functions. The Tetra Pak Packaging Materials factory in Jurong started operations in 1982, supplying customers in Singapore and serving as an export base. However, with market dynamics changing significantly over the past decades, the company recognises the need to adapt in order to maintain competitiveness. Striking a delicate balance between market demands, industrial footprint optimisation, and operational cost efficiency is paramount.

*Net sales in Q4 of $1.4 billion, down 2% as reported; flat constant currency and in 2023 of $5.5 billion, down 3% as reported; down 1% constant currency *Net earnings in Q4 of $125 million, up 32%, and in 2023 of $339 million, down 31%. *Earnings per share (Diluted) in Q4 of $0.86, up 32%, and in 2023 of $2.34, down 30%. *Cash flow from operations of $516 million in 2023.

Brook + Whittle is excited to announce the acquisition of PouchIt, a flexible packaging manufacturer based in Atlanta, Georgia. Specializing in short run stand up pouches, layflat pouches, and roll stock film, PouchIt provides customers with the fastest lead times in the flexible packaging industry. This strategic move enhances Brook + Whittle's footprint in the Southeast and strategically positions the company deeper in this rapidly growing segment of the packaging industry. "We are thrilled to welcome PouchIt into the Brook + Whittle family. PouchIt's printing and converting capabilities will provide a great springboard to grow our flexible packaging business. This will allow us to provide faster service to our existing customers and expand into new markets," states Mark Pollard, CEO. "Moreover, with PouchIt's flexible packaging expertise, we will be able to spearhead sustainable innovation in this segment."

In our commitment to providing innovative, more sustainable solutions for the flexible packaging market, Lecta has developed a comprehensive, versatile range for carrier bag applications. KraFit Bag ​is the new, brown option for the bags. It is a kraft paper made of 100% unbleached eucalyptus fiber with good resistance properties, designed for shopping and supermarket bags, e-commerce and other flexible packaging applications. Coral Bag: uncoated white paper, with high printability and mechanical resistance properties, aimed to be used in carrier bags and flexible packaging applications that demand higher printing quality such as sepiolite sacks, etc. Creaset Bag: one-side coated white paper, with high physical resistance to breakage and tearing, aimed to be used in bags and flexible packaging applications. It is a paper solution that allows the printed design on the surface to stand out due to its gloss effect. Lecta's functional, resistant papers for bags are designed to adapt to any style and printing need, showcasing your brand's boundless and authentic creativity.

Mondi, a global leader in packaging and paper, has improved the circularity of material flows in two release liner production sites in Germany and the Netherlands. 95 % of the production waste is now used as secondary raw material for other industries, thanks to its strategic partnerships. By collaborating closely with industry stakeholders along the value chain, Mondi has tackled the siliconised and coated paper waste produced at its release liner plants in Jülich, Germany, and Heerlen, Netherlands. It is now repulped and valorised as secondary raw material in a range of other applications. Mondi Jülich and Mondi Heerlen kicked off a partnership with Veyzle, a Dutch specialist in the recycling of paper and plastics, and the Dutch site of the WEPA Group, an expert for sustainable hygiene papers, two years ago. Since then, Veyzle collects Mondi’s production waste from the two plants and sorts, shreds and bails the different papers before transporting them to WEPA. WEPA has developed an advanced repulping technology to valorise laminated and siliconised papers and uses them to create hygiene paper, such as toilet paper and paper towels. All three partners are located close together to keep transportation to a minimum.

Diversey has been honored with two awards at the CSR Excellence Awards 2023: “Best Hygiene & Infection Prevention Cleaning Solutions Company — South East Asia” and “Best Personal Hygiene Circular Economy Initiative — South East Asia: Soap For Hope.” The CSR Excellence Awards 2023, launched by the Business Concept, encompass all facets of corporate social responsibility, celebrating businesses advocating for ethical, environmental, philanthropic, or financial initiatives. Diversey’s efforts on sustainability and its commitments to local communities have made it a leading company in these initiatives. Diversey’s Soap For HopeTM initiative exemplifies its dedication to community impact and sustainability. This innovative program empowers disadvantaged communities by providing access to sanitation and creating economic opportunities. By upcycling discarded soaps from hospitality partners, Soap For Hope not only promotes hygiene but also generates income for individuals in need.

Lacerta Group, LLC, a leading provider of custom and stock packaging solutions for food processors and supermarkets, has been awarded the EcoVadis Bronze status for its commitment to sustainability. This award is a testament to Lacerta's ongoing efforts to integrate circularity across its operations and supply chain. The EcoVadis Badge recognizes eligible companies that have completed their assessment process and demonstrated a relatively strong management system that addresses sustainability criteria. This recognition acknowledges achievement relative to other assessed companies. "Lacerta Group has a long-standing commitment to sustainability, and we are honored to receive the EcoVadis Bronze Status as a step in our journey," said Matt Crider, VP of R&D and New Product Development at Lacerta Group. "This recognition underscores our dedication to improving sustainable outcomes for our company, our customers, and those who use our packaging products."

U.S.-made masks and gloves became a national priority during the Covid-19 pandemic. Now the manufacturers need a lifeline of their own. Domestic production of protective medical equipment that was in short supply during the pandemic is now collapsing as hospitals and other healthcare buyers return to foreign-based suppliers. About 70% of the 100 or so U.S. mask companies launched during the pandemic have closed, according to industry estimates. U.S. production of N95 and surgical masks fell by more than 90% in 2023 from 2021 levels after elimination of masking requirements knocked out consumer demand.

Fourth Quarter Financial Highlights and Recent Events • Total revenue of $72.3 million, compared to $78.8 million in the fourth quarter of 2022. • Envelope segment revenue of $50.6 million, down from $60.7 million in the fourth quarter of 2022. • Packaging & Specialty Products segment revenue increased 20.2% to $21.7 million, from $18.1 million last year. • Net earnings were $0.7 million, compared to $6.7 million in the fourth quarter of 2022. • Solid free cash flow at $15.1 million, compared to $10.2 million in the fourth quarter of 2022. • Departure of the President of the Packaging and Specialty Products segment on October 17, 2023.

Highlights • A resilient performance with strong cash flow - Underlying EBITDA of €1,201 million (2022: €1,848 million), with margin of 16.4% (2022: 20.8%) - Strong cash generation with cash generated from operations increasing to €1,312 million (2022: €1,292 million) - Group revenue of €7,330 million (2022: €8,902 million) - Basic underlying earnings per share of 107.8 euro cents (2022: 195.6 euro cents) - Return on capital employed (ROCE) of 12.8% (2022: 23.7%) • Robust balance sheet with net debt to underlying EBITDA at 0.3 times; pro-forma at 1.0 times1 (2022: 0.5 times) • Good progress towards delivering €1.2 billion of organic growth investments on time and on budget • Advancing our sustainability performance through the Mondi Action Plan 2030 (MAP2030) • Completed sale of Russian assets, concluding the Group's exit from Russia

Q4 2023 Highlights *Sales of $1,138 million (compared with $1,198 million in Q3 2023 and $1,135 million in Q4 2022); *Operating loss of $(24) million (compared with operating income of $80 million in Q3 2023 and operating loss of $(20) million in Q4 2022); 2023 Annual Highlights *Sales of $4,638 million (compared with $4,466 million in 2022); *Operating income of $40 million (compared with $33 million in 2022); *Net debt1 of $1,882 million as of December 31, 2023 (compared with $1,966 million as of December 31, 2022). Net debt to EBITDA (A) ratio1 of 3.4x, down from 5.2x as of December 31, 2022; *Total capital expenditures, net of disposals, of $46 million in Q4 2023 and $343 million in 2023. The Corporation's 2024 forecasted net capital expenditures of approximately $175 million is unchanged.

Pregis unveils an evolution in foam technology supported by certified-circular polyethylene resins. Through collaboration with ExxonMobil, a leader in advanced recycling technology, Pregis now offers protective foam packaging to help customers meet their plastics circularity goals. This innovation was driven by a need for packaging that helps brands meet consumer demand for more circular plastic products, while still offering the high-quality protection properties of polyethylene foam. ExxonMobil's investment in advanced recycling technology and Pregis' holistic approach to circular design fueled this integration of certified-circular resins into more circular packaging applications that do not compromise performance. Ryan Wolcott, Chief Sustainability Officer at Pregis, explains, "Incorporating certified-circular resins into protective foam applications is a novel approach achieved through deep collaboration across the value chain. We view advanced recycling technologies and the use of certified-circular resins as one more set of tools that allow us to help tackle the plastic waste challenge. This achievement embodies Pregis’ commitment to plastics circularity.”

Spendrups, one of Sweden's leading breweries, has, in collaboration with Trioworld, switched to 30 percent consumer recycled plastic in all stretch and shrink film. This is used around pallets and drinking troughs to ensure load stability and transport safety. The transition to Trioworld's Loop alternatives with 30% PCR (Post-Consumer Recycled) which is plastic that has been recycled after it has been used for the purpose for which it was manufactured, is made after extensive joint tests. This will provide an annual saving corresponding to approx. 150 tons of new plastic and 200 tonnes of carbon dioxide equivalents (see information for calculation information).

O-I Glass, Inc announced the company is investing €95 million into two of its French glass packaging production facilities. As a continuation of its modernization investment program, these significant investments aim to upgrade the sustainability, flexibility, and productivity of its operations in Gironcourt-sur-Vraine and Reims. This investment is consistent with O-I's recently updated ESG roadmap which is aligned with our previously announced capital spending plan. In Gironcourt, where the plant recently marked its 120th anniversary, €55 million will be invested in close cooperation with one of its key customers to rebuild a furnace and equip it with innovative GOAT technology (Gas Oxy Advanced Technology). This innovative approach – already successfully implemented last year at the O-I plant in Vayres (France) – uses a mix of gas and oxygen to heat the furnace. In combination with a newly installed heat recovery system to pre-heat raw materials and recycled glass, the new installation is expected to reduce CO2 emissions by up to 18%.

Graphic Packaging Holding Company and Clearwater Paper Corporation announced that Graphic Packaging has signed a definitive agreement to sell its Augusta, Georgia bleached paperboard manufacturing facility to Clearwater Paper. The transaction value is approximately $700 million, based on Adjusted EBITDA of approximately $100 million. "Augusta is an outstanding asset with a great team, which we concluded is a more compelling fit with Clearwater Paper's strategic growth plans than our own. Bleached paperboard plays a major role in sustainable consumer packaging, and we will continue to service growing foodservice and packaging demand with bleached paperboard from our Texarkana facility," said Michael Doss, President and Chief Executive Officer of Graphic Packaging.

2023 Highlights: *Net Sales were $9,428 million, flat versus the prior year. *Net Income was $723 million, an increase of 39% versus the prior year. *Year-end net leverage was 2.8x versus 3.2x at prior year end. Michael Doss, the Company's President and CEO said, "While 2023 was a year of transition for consumer packaging, it was one of outstanding execution for Graphic Packaging. We significantly expanded profitability, achieved strong earnings growth and delivered innovative sustainable packaging solutions that consumers prefer. Our disciplined approach and commitment to delivering results for customers was on full display during a year of well-chronicled inventory normalization for both retailers and consumer packaged goods companies. While we did experience 4% negative organic sales growth for the year, our innovation sales exceeded $200 million, and our overall performance was excellent. We are well positioned to return to positive organic sales growth in 2024, which has started to materialize in improved volumes quarter to date."

Aptar Digital Health, a global leader in digital health solutions (Software as a Medical Device (SaMD) and digital Patient Support Programs), connected devices and disease management, today announced that it has acquired Healint, a digital health company recognized for their virtual clinical studies, real-world evidence and patient registries platform, as well as the Migraine Buddy and Clarrio mobile apps, which support patients suffering from neurological and immunological conditions. The acquisition of Healint aligns with Aptar Digital Health’s strategy to broaden its portfolio in neurology and strengthen its global footprint for digital health deployment. The expanded capabilities include patient community management, patient activation, Artificial Intelligence (AI) based data collection and analysis, as well as digital diagnostics to facilitate patient screening and identification. Furthermore, Healint’s ability to conduct clinical studies at an accelerated pace and at a global scale complements Aptar Digital Health’s existing solutions to provide additional value to pharmaceutical customers.

2023 Fourth Quarter Highlights *Strong performance driven by solid operational results and continued strength in tissue *Natural gas disruption impacted Lewiston mill operations in November *Net income of $18 million, or $1.04 per diluted share and Adjusted EBITDA of $63 million *Net sales of $513 million, down 3% compared to the fourth quarter of 2022 *Reduced net debt by $32 million. 2023 Full Year Highlights *Outstanding year driven by performance improvement in tissue *Net income of $108 million, or $6.30 per diluted share and Adjusted EBITDA of $281 million, up $54 million versus 2022 *Net sales of $2.1 billion, flat compared with 2022, strong tissue demand offset softness in paperboard *Net debt reduction of $89 million, more than $450 million since 2020; completed refinancing of 2014 Notes *Repurchased $18 million of outstanding shares

Mondi is expanding production of its innovative range of paper-based EcoWicketBags. This comes in response to increasing demand for sustainable packaging in the home and personal care (HPC) industry, particularly for products such as diapers and feminine hygiene products. By expanding the production of EcoWicketBags at its plant in Szada (Hungary), Mondi further leverages the Group’s integrated value chain, from in-house paper production to coating and converting. EcoWicketBags are made from Mondi’s FunctionalBarrier Paper 95/5 – an exceptionally strong kraft paper which can be customised with specific barrier and protective properties to meet diverse product needs. They are available in a variety of sizes for different applications and provide protection from filling to transporting and storage, as well as being ideal for printing customer branding. EcoWicketBags are made from a renewable material and designed to be recycled in standard European paper recycling mills according to the 4evergreen guidelines.

Amcor announced its inclusion in the S&P Global Sustainability Yearbook 2024. This recognition places Amcor among the top 8% of S&P-assessed companies in 2023. The S&P Global Sustainability Yearbook is an annual publication that honors companies that have demonstrated exceptional leadership and performance in environmental, social and governance (ESG) measures in each industry. This year, S&P Global recognized 759 companies in the Yearbook, out of the 9,400 it initially assessed using its Corporate Sustainability Assessment (CSA) Score methodology. In the containers and packaging sector, Amcor has made tangible progress in areas crucial to environmental sustainability. Amcor's commitment to developing all its packaging solutions to be recyclable, compostable, or reusable by 2025 and achieving net-zero emissions by 2050 places it among the leaders of the packaging industry.

If you’ve been in the conversation about sustainable packaging at all in the last few years, you’ve seen the rise in use of recycled content in plastic packaging. But what exactly is post-consumer recycled (PCR) content, and where does it fit into the sustainable packaging landscape? Is it really sustainable? In this Deep Dive we’ll focus on PCR in plastic packaging. Post-consumer recycled content refers to materials that have already been used by consumers, recycled, and then repurposed into new products, including packaging. A piece of packaging is said to have some percentage of PCR – if for example, a plastic bag with 20% PCR was made of 20% recycled content, and the other 80% was virgin (new) content. In the world of sustainable packaging, PCR is most commonly part of the discussion in plastics (you may also hear PCR spelled out as “post-consumer resin” in the context of plastics), but most kinds of packaging can have recycled content – glass, metal, paper, and more. For whatever reason, the term PCW (post-consumer waste) is sometimes used, especially in paper products, but the concept is the same.

The investment is part of our Packaging’s ambitious growth strategy in East Europe, driving leadership in sustainable packaging solutions across the region and creating value for our customers and partners. The first steps have already been taken by harmonising the business processes of both sites, including quality management and system standardiation. These initiatives are supported by investments in new machinery at both sites increasing quality, productivity as well as innovation capabilities. Reinier Schlatmann, DS Smith Regional Managing Director East Europe: "Our investments in technology, automation, and process improvement, enable DS Smith to drive innovation in packaging solutions. With a strong focus on the transition towards a circular economy, we are reshaping the industry and supporting customer sustainability goals at the same time. DS Smith's commitment in this respect is supported by our development of corrugated packaging that offers alternatives for problematic plastics. The investments in Austria significantly strengthen our position in the market and make a long-term contribution to the environment and economy.”

Constantia Flexibles has signed an agreement to acquire approximately 57% of the shares of the packaging producer Aluflexpack. In parallel, Constantia Flexibles will launch an all-cash public tender offer for all publicly held registered shares of Aluflexpack. The offer is subject to certain terms and conditions, including the outcome of the regulatory process. The material terms and conditions of the offer are described in the pre-announcement of the offer which has been published today and is available at afp-tender-offer.com. The company is a leading player in the European packaging industry, specializing in foil and film packaging for the Consumer and Pharma markets. Operating out of 14 locations across Europe with over 1,500 employees, the company will perfectly complement Constantia Flexibles’ packaging solutions portfolio. This acquisition is a sizable step in Constantia Flexibles’ foil packaging presence across market segments. Aluflexpack has delivered a very strong historical financial performance and continues to do so. It is highly complementary to Constantia Flexibles’ geographical footprint, e.g., in Turkey and Poland as well as expanding to countries of Southeast Europe. The acquisition gives access to an extended technology portfolio.

In its quest for supporting a healthy planet, Walgreens committed to four goals for its branded products, by 2030: reduce plastic packaging by 30%, make all packaging recyclable, increase recycled content in packaging and eliminate problematic single-use packaging. Significant steps have been taken toward making all packaging recyclable, and part of the progress has come in an unexpected place—nail polish remover bottle caps. “By switching from black plastic caps to white plastic caps in just these seven Walgreens brand products, we’re able to improve the recyclability of a projected 13 tons of plastic,” says Andrew Horn, senior manager of sustainability operations. “Many recycling facilities use mechanical vision systems, essentially robots with cameras for eyes, to sort packaging that comes in. They have a difficult time correctly identifying black plastic. So, too often, they’ll put it in the waste stream or just inaccurately sort it into the wrong recycling stream.”

BeerSelect is the first brewery in Belgium to use Smurfit Kappa’s automated TopClip system. Smurfit Kappa has provided a pioneering Belgian craft brewer with an end-to-end packaging system, TopClip, the 100% paper-based replacement for shrink wrap that bundles beverage multi-packs. BeerSelect has enjoyed significant growth over the last three years and attracted considerable attention from investors and beer drinkers alike. The brewer was looking for packaging that would align with its sustainability aspirations, and an automated machine system to efficiently produce the solution in-house. Smurfit Kappa reviewed every aspect of BeerSelect’s operations and decided that the most effective solution was to build and install its Mid-Speed TopClip machine at BeerSelect’s green-field brewery. This machine has proven its worth for many small and medium-sized drinks companies as it can handle 30,000 cans per hour and is flexible enough to switch between different configurations to bundle four, six and eight packs of cans.

*Generated a record $883 million of operating cash flow and $600 million of Free Cash Flow in the full year of 2023 *Invested a record level of capital in the business for future growth and productivity *Achieved record results in Operating Profit and Adjusted EBITDA in flexible packaging and record net sales in rigid paper containers in the Consumer Packaging (“Consumer”) segment *Produced record Operating Profit margins and Adjusted EBITDA margins in Industrial Paper Packaging (“Industrial”) segment despite a low volume environment *Expanded the Company’s flexible packaging capabilities with the acquisition of Inapel Embalagens Ltda. in Brazil

Berry Global recently opened the doors to its “Circular Innovation and Training Center” in Tulsa, Oklahoma. The new 12,000 square foot center will accelerate the development of highly innovative products driven by superior materials science and engineering, foster a collaborative space for training, and incubate cutting-edge stretch film projects that help keep materials in use and out of the environment. Utilizing state-of-the-art film characterization and performance testing technology, the new site will measure the variable properties and behaviors of stretch films, including: *Film characterization and quality measurement to quickly analyze fundamental film properties, like thickness, width, length, weight, density, modulus, elongation, tensile strength, puncture resistance, tear resistance, and cling force. *Performance testing to accurately assess how film properties will perform in the field, including pre-stretch ratio, force-to-load ratio, neck-down ratio, roping ratio, film memory, film relaxation, load deformation, load shifting, and load failure.

If you ask consumers, fiber-based cartons are the go-to material for food packaging. For the quality and sustainability of the packaging material, where the fiber comes from also matters. Here’s a look at the key benefits of using northern wood fiber as the raw material for consumer packaging. Did you know that 73% of consumers prefer fiber-based cartons over plastics in food packaging? This indicates the growing preference consumers have for more conscious packaging choices. This shift is driving consumer brands to adopt more sustainable packaging materials, such as renewable carton board made of wood fiber. To ensure high quality and sustainability of packaging materials, it’s key to know where the fiber comes from. Stora Enso is building new consumer board production capacity at its Oulu Mill in Northern Finland, where the availability of high-quality northern wood fiber plays a key role in production.

First Quarter Highlights *GAAP: Net sales of $2.9 billion; Operating income of $157 million; Earnings per share of $0.50 *Fiscal 2024 outlook: Reaffirmed adjusted EPS guidance of $7.35 - $7.85 and free cash flow of $800 - $900 million *Announced plans for a tax-free spin-off and merger of the majority of our HH&S segment to include its global nonwovens and films business with Glatfelter, creating a global specialty materials leader, in a transaction expected to be valued at $3.6 billion

Berry Global Group, Inc. and Glatfelter Corporation announced they have entered into definitive agreements for Berry to spin-off and merge the majority of its Health, Hygiene and Specialties segment to include its Global Nonwovens and Films business (“HHNF”) with Glatfelter, to create a leading, publicly-traded company in the specialty materials industry. The Boards of Directors of Berry and Glatfelter have unanimously approved the transaction. The new combined company (“NewCo”) will become a global leader in the growing specialty materials industry, serving the world’s largest brand owners across global end markets with favorable long-term growth dynamics. HHNF brings an extensive portfolio of proprietary technologies, with a strong focus on healthcare, hygiene, and specialty end markets, while Glatfelter provides a broad range of innovation capabilities and sustainability solutions. Together, the combined company will offer a highly complementary product suite, including both polymer-based and fiber-based solutions, supported by strong innovation capabilities, with significant geographic diversification and a presence in all major markets.

IPG® has introduced ExlfilmPlus® PCR, a revolutionary polyolefin shrink film that contains 35% total recycled content and is prequalified to be recycled at store drop-off locations. ExlfilmPlus PCR is designed to meet the growing demand for more sustainable and circular packaging solutions, while delivering superior performance and quality. ExlfilmPlus PCR is a polyolefin shrink film that contains, at minimum, 10% certified postconsumer recycled content and 25% certified post-industrial recycled content. The new film contains certified mechanical post-consumer recycled content, which is derived from plastic waste collected from consumers and recycled into new resin. Additionally, ExlfilmPlus PCR has been prequalified by HOW2RECYCLE for store drop-off and is approved for some direct food contact applications. Available in gauges thinner than many traditional products, it offers a material usage reduction of up to 9%. By minimizing the environmental footprint of their packaging, customers can attain their sustainability objectives with the help of ExlfilmPlus PCR. It supports the circular economy by using recycled materials and enabling recyclability of the end product.

Metsä Group announces its plans for a significant investment program in its tissue paper business in the Mänttä mill to develop the sustainability of the operations and to modernize and extend the lifecycle of the mill. The investment plans are part of its tissue paper business’ Future mill strategy program aiming at world-class efficiency and environmental performance in tissue production. The planned program amounts to approximately EUR 100 million euros and the related investments are to be carried out over the period of next five years. The company aims to develop the mill’s production and environmental efficiency by investing in paper machine and converting line modernizations as well as improving the energy and water efficiency. Their aim is long term continuation of the efficient local manufacturing operations in Mänttä and they support the company’s target of all products and manufacturing sites to be fully fossil free by 2030. The investments will be communicated when the planning proceeds.

Highlights - Six Months Ended December 31, 2023 • Net sales of $6,694 million; • GAAP Net income of $286 million; GAAP diluted earnings per share (EPS) of 19.8 cps; • Continued strong cash returns to shareholders: Quarterly dividend increased to 12.5 cents per share and $30million of shares repurchased; and • Reaffirming fiscal 2024 outlook: Adjusted EPS of 67-71 cents per share and adjusted Free Cash Flow of$850-950 million.

Q4 2023 in brief: *Net sales decreased 6% to EUR 1,033 million (EUR 1,104 million) *Comparable net sales growth at Group level was -3% and -5% in emerging markets *The impact of currency movements on the Group's net sales was EUR -44 million and EUR -5 million on EBIT. Q1-Q4 2023 in brief: *Net sales decreased 7% to EUR 4,169 million (EUR 4,479 million) *Comparable net sales growth at Group level was -2% and -4% in emerging markets *The impact of currency movements on the Group's net sales was EUR -153 million and EUR -15 million on EBIT *Capital expenditure was EUR 319 million (EUR 318 million)

January–December 2023 (compared to 1–12/2022) *Sales were EUR 1,941.9 million (2,479.6). *The comparable operating result was EUR 122.2 million (520.7), or 6.3% of sales (21.0). Operating result was EUR 120.8 million (531.5) *Comparable return on capital employed was 5.1% (20.9). *Net cash flow from operations was EUR 342.8 million (232.0). October–December 2023 (compared to 10–12/2022) *Sales were EUR 422.6 million (599.8). *The comparable operating result was EUR 0.7 million (100.8), or 0.2% (16.8) of sales. *Operating result was EUR -0.2 million (94.7). *Comparable return on capital employed was 0.4% (15.5). *Net cash flow from operations was EUR 124.3 million (70.2).

January–December 2023 (1–12/2022) *Sales were EUR 6.110 million (6.980). *Operating result was EUR 498 million (1.302). Com-parable operating result was EUR 488 million (1.276). *Result before taxes was EUR 488 million (1.270). Comparable result before taxes was EUR 482 million (1.240). *Comparable return on capital employed was 7.2% (19.5). *Net cash flow from operations was EUR 926 million (1.227). October–December 2023 (10–12/2022) *Sales were EUR 1.486 million (1.741). *Operating result was EUR 55 million (316). Comparable operating result was EUR 57 million (311). *Result before taxes was EUR 50 million (309). Comparable result before taxes was EUR 51 million (306). *Comparable return on capital employed was 3.9% (18.).*Net cash flow from operations was EUR 439 million (399).

*Revenue of €11.3 billion *EBITDA of €2,080 million and an EBITDA margin of 18.5% *Return on capital employed of 17.1% *Free cash flow of €628 million *Net Debt to EBITDA ratio of 1.4x *Announced combination with WestRock to create a global leader in sustainable packaging

Amcor signed a deal with Cadbury to source ~1,000 tons of post-consumer recycled plastic to wrap its core Cadbury chocolate range, accelerating Cadbury’s ambitions to reduce its virgin plastic needs. In 2022, Cadbury announced it had sourced ~30% (on a mass balance basis^) of the plastic needed to wrap its 160g to 185g Cadbury Dairy Milk family blocks produced in Australia from recycled materials. With its latest purchase, Cadbury aims to use ~50%# (on a mass balance basis^) recycled plastic for its wrappers across its chocolate blocks, bars and pieces range produced in Australia. This will be equivalent to halving its virgin plastic needs to wrap those products. The rollout of recycled material is expected to begin in Q1 of 2024, starting with blocks and expanding into bar lines such as Cherry Ripe, Crunchie and Twirl as well as pieces wraps for Roses and Favourites.

Net sales in the fourth quarter were $2,858 million compared to $3,012 million in the fourth quarter of 2022 reflecting higher beverage can volumes in Americas Beverage and favorable foreign currency translation of $42 million, offset by the pass through of $145 million in lower material costs and lower volumes across most other businesses. Income from operations was $259 million in the fourth quarter compared to $229 million in the fourth quarter of 2022. Segment income in the fourth quarter of 2023 was $382 million compared to $292 million in the prior year fourth quarter reflecting higher beverage can volumes in Americas Beverage and the contractual recovery of prior years' inflationary cost increases in European Beverage, both more than offsetting the under-absorption of fixed costs.

Due to the continued weak and uncertain market environment, Stora Enso plans to initiate a new profit improvement programme targeting annualised EUR 80 million improvement of the operational EBIT. This could lead to a potential reduction of approximately 1,000 employees. Local change negotiations in line with the local legislations will start as soon as country specific plans are further detailed. The profit improvement programme is designed to improve Stora Enso’s long-term competitiveness by focusing on core business activities that can drive the Group’s strategy supported by a decentralised operating model. The profit improvement programme would be implemented without any new production site closures.

Q4/2023 (year-on-year) • Sales decreased by 24% to EUR 2,174 (2,864) million. • Operational EBIT decreased to EUR 51 (355) million. • Operational EBIT margin decreased to 2.3% (12.4%). Full year 2023 (year-on-year) • Sales were EUR 9,396 (11,680) million. • Operational EBIT was EUR 342 (1,891) million. • Operating result (IFRS) was EUR -322 (2,009) million. • Operational ROCE (last 12 months) excluding the Forest division decreased to 1.0% (20.4%), the target being above 13%.

First Quarter Highlights and other notable items: *Net sales of $4.6 billion; Corrugated Packaging segment sales increased 3.5% compared to the prior year quarter *Global Paper containerboard shipments increased 21.9% compared to the prior year quarter *Net loss of $22 million; net loss included $66 million of restructuring and other costs *Achieved over $200 million in cost savings; expect to significantly exceed previously announced fiscal 2024 target of $300 to $400 million

*Full-year net earnings (loss) of $288 million ($0.82 per diluted share); Fourth quarter net earnings (loss) of $(284) million ($(0.82) per diluted share); Full-year and fourth quarter net earnings include a pre-tax charge of $540 million related to mill strategic actions *Full-year earnings benefit from Building a Better IP initiatives of $260 million, exceeding annual target *Full-year capital investments of $1.1 billion, including investments in packaging for future growth

Amcor announced a significant expansion of its North American thermoforming capabilities for the healthcare market. The addition of automated, state-of-the art thermoforming equipment at Amcor’s world-class healthcare manufacturing plant in Oshkosh, Wisconsin will support increasing demand from customers in the medical, pharmaceutical, and consumer health sectors. The additional capacity will provide an efficient option for companies looking to partner with Amcor to support their growth ambitions. The expansion also will allow customers to source thermoforms and companion die-cut lids from a single location, helping streamline product manufacturing and distribution.

NBi FlexPack, an NBi Technologies company based in Wisconsin has announced its launch as a flexible packaging manufacturer producing high-quality custom solutions. NBi products are made in the USA, which allows for quick turnaround times for shipping anywhere in the US. Expert, personal service is an added convenience. “When we say NBi FlexPack is ‘Customized packaging. Personalized service. Made in the USA’, we back it up,” says Rick Nerenhausen, general manager, NBi Technologies, the parent company of NBi FlexPack. “We nurture customer care and are proud to provide top quality products made in our nation with options to meet every customer’s needs.” The packaging manufacturer is dedicated to reducing environmental impact and offers sustainable solutions including compostable and recyclable flexible packaging. Other benefits include: • Personal service with 25+ years of print expertise • Low MOQs • Special orders available upon request

Smurfit Kappa will invest €54 million to double the capacity of its Ibi Bag-in-Box plant in Alicante, Spain. Smurfit Kappa’s latest investment is set to strengthen the sustainability of both the plant’s operations and its product portfolio, with enhanced waste management systems and significant savings in energy consumption. Bag-in-Box Ibi has got a strong track record when it comes to recycling with several state-of-the-art systems to identify and separate by-products. Saverio Mayer, CEO of Smurfit Kappa Europe, said: “Today’s announcement demonstrates our commitment to the Bag-in-Box division and forms part of our multi-country expansion plan. We have invested €90 million in the Ibi plant throughout the last decade which has significantly enhanced our offering.

Sonoco Products Company announced that certain of its subsidiaries entered into a definitive agreement to sell its Protective Solutions business to Black Diamond Capital Management, LLC (“Black Diamond”) for an estimated $80 million in cash. The transaction is subject to customary closing conditions and is expected to be completed in the first half of 2024. This sale is the result of Sonoco’s continuing evaluation of its business portfolio and is consistent with its strategic and investment priorities. Sonoco’s Protective Solutions business is one of North America’s premier manufacturers of molded expanded polypropylene and expanded polystyrene foam components and integrated material solutions serving the automotive, power sports, impact surfaces, HVAC, electronics/technology, appliances, and various other industrial end markets. The business operates nine manufacturing facilities and has approximately 900 employees. Net sales were approximately $170 million in 2023. Financial results for Protective Solutions are reported in Sonoco’s All Other Businesses reporting segment.

American Packaging Corporation announces five APC Centers of Excellence achieved International Sustainability and Carbon Certification PLUS. APC's Columbus, Wisconsin, Deforest, Wisconsin, Story City, Iowa, Chili, New York and Rochester, New York plants all achieved the certification, allowing APC to source and convert advanced recycled resins and films, often called circular content. These circular content resins and films are used to manufacture packaging products requiring recycled content and tracks the usage through a mass-balance accounting process, a methodology that looks at all inputs and outputs of a particular process. ISCC PLUS certification plays a crucial role in the development of the circular economy by ensuring the traceability of advanced recycled plastics along the entire supply chain in compliance with the ISCC PLUS standards. Unlike traditional mechanically recycled content, the advanced recycled process converts materials to the molecular level, offering a feedstock that can be used to produce new plastic materials with properties equal to virgin plastic. The result is eco-friendly materials that are highly sought-after by environmentally conscious consumers. This certification provides an additional and complementary option to mechanically recycled materials for those customers wishing to utilize recycled content.

Net sales for the fourth quarter of 2023 were $1.3 billion, a decrease of $115.3 million, or 8%, as compared to the same period in the prior year predominantly as a result of lower volumes. Income before interest and income taxes (EBIT) for the fourth quarter of 2023 was $126.1 million, an increase of $45.0 million as compared to $81.1 million for the fourth quarter of 2022 principally due to $66.6 million of rationalization charges in the prior year period.

In its continuing pursuit to develop packaging materials that meet the sustainability goals of its customers, global packaging solutions provider SEE (NYSE: SEE) has developed the first biobased, industrial compostable tray for protein packaging that has been successfully tested to meet the demands of existing food processing equipment. SEE's new CRYOVAC® brand compostable overwrap tray is made from biobased, food-contact grade resin, which is USDA-certified as having 54% biobased content chemically derived from renewable wood cellulose. The tray, which will break down into organic material without leaving toxic residue, was created as an alternative to those made from expanded polystyrene (EPS), which are traditionally used to package fresh poultry and red meat for consumer purchase but are not biodegradable or recyclable.

Revolution Sustainable Solutions LLC, Little Rock, Arkansas, has acquired PolyAg Recycling Ltd., a Canada-based mechanical recycler of agricultural films. Established in 2019, PolyAg offers local recycling of used agricultural film through its recycling facility in Bashaw, Alberta. This acquisition aligns with Revolution’s growth in the agricultural film space, having invested more than $20 million to expand its manufacturing facility in Little Rock, Arkansas, by 36,000 square feet in 2020. The expansion supports the production of various polyethylene products made from recycled materials, including construction film, agricultural film and geomembrane film, by adding two blown film lines. As previously reported by Recycling Today, the film lines are able to produce more than 40 million pounds of film products annually.

What does it take to persuade consumers to choose your product over similar products on store shelves? One key factor is understanding consumers’ non-negotiable packaging priorities, such as hygiene, convenience, and sustainability. When introducing new reusable packaging or recyclable fiber-based solutions, conveying the right message about the package is vital to overcoming these obstacles getting your product chosen. Consumers are open to reuse systems. We recently conducted a survey of European consumers and found that 77% hold a positive view of reusable packaging; however, only 30% have a clear understanding of what reusable packaging means. This highlights the first challenge for brand owners: how to efficiently explain to consumers how the reuse system works while also addressing their priorities. Consumers rightly prioritize their health, questioning the hygiene and safety of reusable containers, particularly in the cases of food. Our survey showed that 78% of consumers raise this issue, making it one of the most common obstacles to adoption.