Greif Opens New IBC Facility in Malaysia

The Smurfit Kappa paper mill in Nettingsdorf, Austria, has launched a sustainable district heating project that will benefit 20,000 homes across three communities when completed. The scheme will capture excess heat generated from the Nettingsdorf paper mill to provide heating for local homes, businesses and schools. Civil works have commenced on the ambitious project with the first trenches excavated and pipes laid in June. The central heat distribution building and equipment will be erected in the coming months and it is planned that a local elementary school and the kindergarten in Nettingsdorf will be the first premises to benefit from the scheme early next year.

*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

Huhtamäki Oyj has signed a EUR 400 million syndicated multicurrency revolving credit facility loan agreement (“RCF”) with a maturity of three (3) years. The RCF refinances an existing EUR 400 million credit facility signed in January 2015 and will be used for general corporate purposes of the Group. The RCF has two one-year extension options and the interest margin is tied to three sustainability indicators: 1. Share of renewable or recycled material in products 2. Share of non-hazardous waste recycled 3. EcoVadis rating. “This new financing agreement speaks to how Huhtamaki is serious about its ESG ambitions. By directly linking sustainability to our financing, we are taking yet another step in embedding sustainability in everything we do,” says Thomas Geust, CFO of Huhtamaki.