Huhtamaki acquires the majority of an Australian foodservice packaging distributor

Huhtamaki is investing app. EUR 11 million to have a new manufacturing facility built in Hämeenlinna, Finland. Manufacturing operations will be transferred from the current facility that has been built in the 60's to a new, modern facility. Construction work is planned to begin during spring 2018 and the new facility is expected to begin operations in spring 2019. The majority of the investment takes place during 2018. As part of the investment the Hämeenlinna unit's machine base will also be partially renewed and automation will be increased. Competitiveness will also be improved by designing the new facility according to Lean manufacturing principles and improving the flow of goods and minimizing unnecessary traffic within production. The modernization of the manufacturing facility will also improve workplace safety and ergonomics. Click Read More below for additional information.

Net revenues in the first quarter of 2023 were $1,431 million compared to $1,495 million in the first quarter of 2022. The decrease was due to lower sales volume and the impact from dispositions, notably the disposition of Beverage Merchandising Asia on August 2, 2022. Lower sales volume was largely due to our focus on value over volume in the Foodservice and Food Merchandising segments and the market softening amid inflationary pressures in the Beverage Merchandising and Food Merchandising segments. These decreases were partially offset by favorable pricing, due to pricing actions in the Food Merchandising and Beverage Merchandising segments and the contractual pass-through of higher material costs across all segments. Net loss was $133 million in the first quarter of 2023 compared to $43 million of net income in the first quarter of 2022. The decrease was mostly due to $187 million of charges associated with the Beverage Merchandising Restructuring and a $27 million decrease due to the gain on the sale of Naturepak Beverage Packaging Co. Ltd in the prior year period. These decreases were partially offset by a $55 million decrease in tax expense, mainly attributable to decreased profitability.

Colbert Packaging Corporation announced the installation of two new Eterna blanking die cutters. The Eterna Line ECUT 1060 Elite ER is a welcome addition to Colbert’s Kenosha, WI, and Elkhart, IN, production facilities, adding die-cutting capacity to complement recent printing press installations. The precision-tight registration of the Elite ER delivers precise cutting, especially critical to the stringent packaging quality requirements of the pharmaceutical and consumer packaged goods industries. As an added benefit, tooling is compatible with Bobst Group Technology, the recognized standard for packaging equipment.