Graphic Packaging Completes Acquisition of Carton Craft Corporation

Understandably, to our customers in the food industry, product safety standards are especially important. Which is why establishing a clear commitment to this aspect and developing a thriving product safety culture across our network is key to our continued success – and our customers’ success too. Increasingly customers expect paper that isn’t just safe - but sustainable as well. However, there is a common misconception that recycled paper is unsuitable for food packaging because it has already been used and had prior contact with other substances. All the sustainable paper products marketed and sold to the food industry are safe for food contact. If the quality of the Paper for Recycling (PfR) meets EN643 standards, if the correct EN643 grades are used and if it is carefully handled and monitored through the pulping and the manufacturing process, then the quality of the finished paper product will also be high.

The 33.9 million euro investment is focused on equipment upgrades including purchasing state-of-the art machinery for innovative packaging to support ongoing plastic replacement and boost productivity as part of our ambitious growth strategy in the East European market. Starting with upgrades at Ierapetra's Box Plant this summer, the investments will not only advance packaging capabilities but also create a safer working environment. Investment into other sites located in Ancient Corinth and Thessaloniki will also see the modernization of equipment and minimize raw material waste. The investments support our customers’ growing demand for sustainable packaging innovations and align with our Now & Next Sustainability Strategy to deliver the circular economy.

Novolex®, an industry leader in packaging choice, innovation and sustainability, announced it has entered into a definitive agreement to acquire the business of Flexo Converters USA, Inc. and certain of its affiliates. The transaction is expected to close within the next 60 days. Flexo is a manufacturer of stock, custom and recycled paper bags and sacks. It is headquartered and has a manufacturing facility in Meriden, Conn. and an additional plant in Monroe, Ga. Flexo’s eligible full-time employees are expected to join Novolex. Flexo products will be sold under the Novolex Duro® Bag brand. The addition of Flexo products to the Novolex portfolio will enable Duro to support customer demand through Flexo’s production capacity. Novolex has seen a significant increase in demand for paper bags as consumer purchasing patterns have shifted.