Metsä Board’s comparable operating result in January–September 2021 was EUR 295 million

Greif, Inc. announced that it has entered into a definitive agreement to divest its 50% share in the Flexible Packaging joint venture, or "FPS" to Gulf Refined Packaging (GRP) for a total cash consideration of $123 million, subject to certain conditions and post-closing adjustments. Greif expects to use the proceeds for debt repayment. "While we have worked closely with our joint venture partner, each partner held different views of the appropriate path forward for the FPS business," said Pete Watson, Greif's President and Chief Executive Officer. "As a result, we entered into a process to determine a single owner and utilized our disciplined capital allocation framework that resulted in an agreement to sell our ownership stake to GRP for significant value. I would like to thank our FPS colleagues for their hard work over the last 11 years and for their continued commitment to the business during the transition ahead."

Finding new ways to address our environmental challenges is reliant on our ability to foster innovation to find ways of driving systemic change. To support such innovation and progress towards circularity, Huhtamaki, a key global provider of sustainable packaging solutions for consumers around the world, donated €600,000 to fund the development and piloting of a river waste collector, invented by the Finnish cleantech start-up RiverRecycle. The collector is an integral part of RiverRecycle’s solution to solve marine waste, one of the biggest global challenges of today. With Huhtamaki’s support, a prototype waste collector was built and tested in Finland. This was then transported to and assembled in Mumbai, where it is now operational and where it will be collecting waste from the Mithi River for the next 12 months. “We believe in protecting food, people and the planet. We also believe that cooperation across the value chain with key stakeholders is needed to address global sustainability challenges, for example such as in this case marine plastics. If we want to drive systemic change, we not only need to support the development and commercialization of innovation that can help stop waste from getting into the oceans, but we also need the monetization of waste and incentivization of local communities to improve their waste management practices,” says Thomasine Kamerling, Executive Vice President Sustainability and Communications at Huhtamaki.

Stora Enso has today signed an agreement to divest its 35% holding in the equity accounted investment Bulleh Shah Packaging Ltd. (BSP) to the main owner Packages Ltd. The transaction is expected to be completed in the third quarter of 2017. The cash consideration for the divestment of the shares is EUR 6 million. The loss on disposal amounts in total to approximately EUR 19 million. These will be recorded as items affecting comparability (IAC) in Stora Enso’s third quarter 2017 results. Click Read More below for additional details.