International Paper Announces Rebrand on 125th Anniversary

Tredegar Corporation announced that it has completed the previously announced sale of its personal care films (“Personal Care Films”) business to affiliates of Fitesa S.A. Commenting on the sale, John Steitz, Tredegar’s president and chief executive officer said, “We believe that in combination with Fitesa, a worldwide leader in nonwoven fabrics, Tredegar’s former personal care business will have improved opportunities for growth.” Cash proceeds from the sale net of transaction costs, purchase price adjustments and transition services are estimated at $45 to $50 million. Net cash income tax costs or benefits relating to the transaction are expected to be negligible. The transaction excludes the packaging film lines and related operations located at the Pottsville, Pennsylvania manufacturing site (“Pottsville Packaging”), which will now be reported within the Surface Protection component of PE Films.

Amcor announced the launch of a proprietary healthcare lidding technology that will be utilized for combination products – those consisting of two or more regulated components (device, drug or biologic). This latest innovation from Amcor is based on a patented inert film development and laminate design. It provides a lidding solution that can withstand heat sterilization, the process of preserving and sterilizing items, while preventing drug uptake into the packaging. The packaging solution is ideal for combination healthcare products, such as devices with an Active Pharmaceutical Ingredient (API) that forms the basis of a medicine. It ensures machinability, integrity after sterilization, as well as a convenient peel opening for patients. The features of the new product complement Amcor’s existing healthcare portfolio, which range from lidding for demanding sterilization environments to high barrier overwraps protecting eye droppers and medications for the eye. Amcor collaborated with Johnson & Johnson Vision over the course of several years to develop the lidding technology for use with contact lenses. ch company contributed specific skills and perspective, notably Amcor’s expertise with film extrusion, lamination and conversion for healthcare, and J&J Vision’s expertise on ophthalmic device packaging requirements.

Highlights • Robust financial performance in a challenging environment ◦ Underlying EBITDA of €738 million with margin of 21.4% ◦ Profit before tax of €466 million ◦ Basic underlying earnings of 73.0 euro cents per share ◦ Cash generated from operations of €602 million ◦ Return on capital employed of 17.1% ◦ Strong balance sheet with 1.4 times net debt to 12-month trailing underlying EBITDA at 30 June 2020