Major investment at Mayr-Melnhof Group

Huhtamaki, a key global provider of sustainable packaging solutions, announces a first-to-market sustainable innovation for the global pharmaceutical and healthcare industry. Huhtamaki's Push Tab® blister lid is mono-material PET and free from aluminum. It is designed to meet the stringent safety requirements of highly regulated pharmaceutical and healthcare packaging and provides the industry with a more sustainable alternative to traditional push-through blister packaging. This game changing innovation will help deliver sustainable packaging solutions for the growing global healthcare industry, whilst importantly maintaining functionality and efficiency, as Push Tab® blister lid runs on existing blister packaging lines without compromising on speed. The Huhtamaki Push Tab® blister lid is made of mono-material PET (polyethylene terephthalate) which significantly improves recyclability of the packaging, whilst remaining compatible with existing high performance blister packaging lines, without needing modifications or extra investment. Huhtamaki and its partner – Klöckner Pentaplast – bring this first-to-market innovation to help the global healthcare and pharmaceutical sector meet their sustainability targets and achieve market growth at the same time. In 2021, European packaging sales in the healthcare category had an estimated value of EUR 1.4 billion, of which approximately 50% were in blister packaging.

Second Quarter 2024 Highlights: *net earnings of $498 million; includes a tax benefit of $338 million related to internal legal entity restructuring *cash provided by operations of $365 million and returned $160 million to shareholders in dividends. "Reflecting on my first 90 days, I am confident in our teams' ability to unlock substantial value at IP," said Andy Silvernail, Chief Executive Officer. "While our second quarter financial results increased sequentially on better price and seasonally higher volumes, we expect near-term performance to be challenged. In order to accelerate improvement, we are deploying an 80/20 business process. We will make the changes needed to focus our portfolio, become excellent with our customers and optimize our cost to deliver profitable growth. In North America, our investments will center on providing customers with the most reliable and innovative packaging solutions. We also look forward to the combination with DS Smith and together creating significant value for our shareholders."

Peter Oswald, Mondi Group chief executive, said: “Mondi delivered a robust performance in the first half of 2017, with revenue up 8%, underlying operating profit of €497 million and a return on capital employed of 18.7%, reflecting management’s ongoing value focus and the strength of our business model. Profitability was down on the comparable prior year period, mainly driven by a significantly lower forestry fair value gain in South Africa and the impact of mill maintenance shuts. We continue to drive growth through our capital investment programme. During the period, we commissioned the second phase of our major investment in the ongoing development of our world-class facility in Poland, while good progress is being made on the modernisation of our kraft paper facility in Czech Republic. The integration of acquisitions completed during 2016 and early 2017 is on track. These acquisitions enhance our geographic reach and product portfolio in Corrugated Packaging and Consumer Packaging. The market outlook remains broadly positive. We saw strong demand across Packaging Paper and Corrugated Packa ging in the first half and successfully implemented price increases across certain paper grades, the full effect of which is anticipated in the second half. The second half of the year will be impacted by planned maintenance shuts at a number of our mills and the usual seasonal downturn in Uncoated Fine Paper. While we continue to see some inflationary cost pressures, we remain confident of making progress in the year and continuing to deliver industry leading returns." Click Read More below for additional detail.