HoustonPoly Announces Price Increase

Q3 2021 Highlights *Net Sales were $1,782 million versus $1,698 million in the prior year quarter. *Net organic sales declined 1% during the quarter as supply chain and labor market constraints delayed sales; remain on track to achieve approximately 200 basis points of full year organic sales growth. *Net Income was $73 million versus $64 million in the prior year quarter. *Executing approximately $650 million in pricing actions to address commodity input cost inflation. *AR Packaging acquisition expected to close November 1st. *Coated recycled paperboard production on new K2 machine in Kalamazoo, Michigan on track for start-up in the fourth quarter.

Berry Global Group, Inc. announced its investment of over $70 million in its United States wipe substrate capabilities. The investment includes a new line, producing additional capacity, and enabling the Company to better serve its global customers as well as support the continuing growth of its business. Berry provides many of the world’s leading brands with wipe materials for infection prevention. Prior to the demand surge of 2020, the impregnated wet wipes segment, specific for home cleaning and disinfecting, was growing at six percent in the 2014 to 2019 time frame. Amplified by COVID-19 prevention, the demand for disinfectant wipes is expected to have permanently shifted to its current, increased use. Berry will add to its broad scope and scale by installing the line in the United States. This investment is complementary to Berry’s existing portfolio and features the Company’s proprietary Spinlace® technology. The U.S. investment has a targeted commercialization date of the March quarter 2023.

American Twisting is a trusted manufacturer of twisted-paper handles used in the production of paper bags. A family-owned business in continuous operation for more than 100 years, the company is headquartered and has manufacturing facilities in South Haven, Mich. Eligible full-time employees are expected to join Novolex. “American Twisting is an excellent addition to our company, and we welcome their skilled and committed team to the Novolex family,” said Stan Bikulege, Chairman and CEO of Novolex. “I’m confident that our long-standing relationship with American Twisting and their steadfast commitment to safety will ensure a smooth integration into Novolex operations.”