Huhtamaki signed a EUR 125 million sustainability-linked term loan facility

Mondi has created a new secondary paper packaging solution for wrapping bundles of food and drinks, replacing plastic shrink film that has been the industry standard. The new paper solution, TrayWrap, is made with Mondi’s Advantage StretchWrap and is being used by a coffee brand to secure 12 coffee packages for transportation across Sweden. The paper wrap holds the coffee packs tightly in place with 4-6 adhesive dots on the bottom side of the existing corrugated tray. Pre-punched folding points ensure stability on each open side, meaning that the products can be seen, stacked, transported and easily unpacked for sale.

Net sales for the fourth quarter of 2023 were $1.3 billion, a decrease of $115.3 million, or 8%, as compared to the same period in the prior year predominantly as a result of lower volumes. Income before interest and income taxes (EBIT) for the fourth quarter of 2023 was $126.1 million, an increase of $45.0 million as compared to $81.1 million for the fourth quarter of 2022 principally due to $66.6 million of rationalization charges in the prior year period.

To grow the Packaging Automation business in the packaging sector, Stora Enso has partnered with Radpak, a Polish packaging machinery manufacturer focusing on packaging automation for primary and secondary packaging. Packaging Automation is expanding their business outside of Gothenburg, Sweden where Stora Enso has its current factory. Radpak’s factory is located in Włocławek, Poland, which strengthens Packaging Automation’s growth strategy in Central and Northern Europe and gives a local presence with service and aftermarket. The partnership will grow the portfolios of the two companies which means Stora Enso can offer both primary and secondary packaging, one point of contact for the customer.