Inteplast seeks additional sustainability feedback

Berry Global Group, Inc. is collaborating with snack and treats leader Mars, Incorporated to launch its popular pantry-sized treats in polyethylene terephthalate (PET) jars that have been optimized to be lighter weight and include 15% post-consumer resin (PCR). With the shared mission of creating more sustainable packaging solutions, Berry and Mars will launch the new jars for the M&M’S®, SKITTLES®, and STARBURST® brands later this month. The easy-grip square jars are produced at Berry’s manufacturing facility, using a single-pellet, food-grade resin to assure a clean, consistent substrate sourced from mechanical recycling. With a history of results in light-weighting, Berry approached Mars with the new concept including PCR. Berry brought its problem-solving and technical expertise to the table to help Mars make progress toward their sustainability goals. In addition to the inclusion of PCR, the jar is also widely recyclable.

• Revenue decreased 9.4% to $267.8 million primarily due to a decrease in volume/mix and lower selling prices. The decrease in volume/mix was primarily due to the net impact of COVID-19 on demand. • Gross margin decreased to 21.1% from 21.9% primarily due to the unfavorable impact of unabsorbed overhead costs related to production slowdowns in the second quarter of 2020 to manage inventory levels at facilities that experienced COVID-19 related declines in demand, partially offset by a net decrease in all other plant-related operating costs driven by cost savings initiatives. • Net earnings attributable to the Company shareholders ("IPG Net Earnings") increased $8.3 million to $14.8 million ($0.25 basic and diluted earnings per share) primarily due to (i) a gain resulting from a fair value adjustment to the Company's contingent consideration related to the Nortech Acquisition(2) , (ii) a decrease in selling, general and administrative expenses ("SG&A") mainly driven by decreases in travel expenses and variable compensation both related to the impacts of COVID-19, and (iii) a decrease in income tax expense mainly driven by the non-recurrence of the Proposed Tax Assessment(3) recorded in the second quarter of 2019. These favourable impacts were partially offset by a decrease in gross profit.

Huhtamaki, a key global advanced manufacturer of sustainable packaging solutions, today inaugurates its extension to its existing paper-based packaging manufacturing site in Nules, Spain. This latest investment reflects the growing demand from for renewable and recyclable paper-based packaging to substitute rigid plastics. The Nules factory is a Huhtamaki Global Center of Excellence, developing innovative, sustainable packaging solutions for its customers across Europe. The extension of 12 500 m2 and has been built to the globally recognized BREEAM1 sustainability standards. This is in line with Huhtamaki’s 2030 Sustainability Ambitions, including the use of 100% renewable electricity, which is on track with a Virtual Power Purchase Agreement covering approximately 80% of Huhtamaki’s current electricity usage in Europe signed in December 2021. Thanks to the installation of an advanced HVAC (Heating, Ventilation and Air Conditioning) system with air quality, temperature and humidity control, the plant also meets high thermal comfort standards for its employees.