Graphic Packaging Holding Company Announces Second $250 Million Acquisition of International Paper’s Minority Partnership Interest

As 2022 comes to an end, Georgia-Pacific has launched or completed approximately $1.8 billion in capital improvement projects throughout the company. Projects include new facilities and additions as well as improvements to existing operations. These investments lead to productivity and income opportunities for local contractors who help complete the projects, stimulating each facility location's economy. Diboll Lumber-$7 million - Georgia-Pacific completed a $7 million upgrade that modernized the Diboll lumber mill in Texas and helped increase its overall production. Clarendon OSB-$40 million - Georgia-Pacific also announced a $40 million investment in its oriented strand board (OSB) facility in Alcolu, South Carolina. Muskogee Tissue-$50 million - The company announced plans to upgrade parts of its 640-acre Muskogee, Oklahoma, bath tissue, towel, and napkin manufacturing operations in May. Bradford Corrugated-$34 million - Announced in May, the Bradford, Pennsylvania, corrugated plant will undergo a significant upgrade with an investment topping $34 million for new equipment to modernize the plant's operations. Broadway Paper Mill-$500 million - A $500 million expansion began in July at the company’s Broadway mill in Green Bay, Wisconsin. The investments will significantly enhance the company's retail consumer tissue and towel business.

Novolex® and Pactiv Evergreen Inc. announced they have entered into a definitive agreement to combine, creating a leading manufacturer in food, beverage and specialty packaging products. The combination brings together two highly complementary businesses that will offer a broad product platform, establishing one of the most diverse substrate offerings in the packaging industry. The asset base will include an extensive manufacturing footprint and an expansive distribution network, enhancing the combined company’s ability to serve customers ranging from large, blue-chip brands to small businesses that serve millions of consumers every day. “This transaction reflects the continuation of our long-term growth strategy to create the industry’s most innovative, sustainable and customer-focused company,” said Stan Bikulege, Chairman and CEO of Novolex. Michael King, President and Chief Executive Officer of Pactiv Evergreen, said, “We are pleased to reach this agreement with Novolex, which shares our commitment to product quality and recognizes our potential for future growth."

Second Quarter 2017 Highlights (as compared to second quarter 2016): * Revenue increased 4.3% to $210.2 million primarily due to an increase in average selling price including the impact of product mix, additional revenue from the Powerband Acquisition(1), and the non-recurrence of the South Carolina Commissioning Revenue Reduction(2) in the second quarter of 2016. * Gross margin decreased to 22.5% from 25.7% primarily due to the non-recurrence of South Carolina Flood Insurance Proceeds(2) of $4.5 million recorded in the second quarter of 2016. * Net earnings attributable to the Company shareholders ("IPG Net Earnings") decreased $3.5 million to $10.2 million, primarily due to a decrease in gross profit and an increase in selling, general and administrative expenses (“SG&A”), partially offset by a decrease in manufacturing facility closures, restructuring and other related charges and income tax expense. Click Read More below for additional detail.