MM Group to close PM3 at Kwidzyn mill in Poland

As 2022 comes to an end, Georgia-Pacific has launched or completed approximately $1.8 billion in capital improvement projects throughout the company. Projects include new facilities and additions as well as improvements to existing operations. These investments lead to productivity and income opportunities for local contractors who help complete the projects, stimulating each facility location's economy. Diboll Lumber-$7 million - Georgia-Pacific completed a $7 million upgrade that modernized the Diboll lumber mill in Texas and helped increase its overall production. Clarendon OSB-$40 million - Georgia-Pacific also announced a $40 million investment in its oriented strand board (OSB) facility in Alcolu, South Carolina. Muskogee Tissue-$50 million - The company announced plans to upgrade parts of its 640-acre Muskogee, Oklahoma, bath tissue, towel, and napkin manufacturing operations in May. Bradford Corrugated-$34 million - Announced in May, the Bradford, Pennsylvania, corrugated plant will undergo a significant upgrade with an investment topping $34 million for new equipment to modernize the plant's operations. Broadway Paper Mill-$500 million - A $500 million expansion began in July at the company’s Broadway mill in Green Bay, Wisconsin. The investments will significantly enhance the company's retail consumer tissue and towel business.

Net sales increased by 31% in the second quarter. In comparable terms, growth reached 17%, driven by pricing actions. In most markets, demand developed favorably and has returned to pre-pandemic levels, however with some exceptions, particularly in China. Tensions on raw material availability limited our capacity to further grow volumes according to the demand, most notably in North America. We continued to mitigate the significant inflation which impacted all our major input costs, including raw materials, freight costs, energy and labor. We protected our profitability through operational efficiency improvements and pricing actions, with the adjusted EBIT increasing by 29%. Cash flow remained impacted by increased working capital and capital expenditure. We continued our organic investment into sustainable product innovation and business expansion. For example, we announced the expansion of our molded fiber product manufacturing unit in Hammond, Indiana, US. This investment in fiber technology supports market demand for more sustainable solutions in North America, such as egg cartons and cup carriers. The planned USD 100 million investment will start ramping up towards the end of 2023.

Amcor announced the opening of its new state-of-the-art manufacturing plant in Huizhou, China. With an investment of almost $100 million, the 590,000-square-foot plant is the largest flexible packaging plant by production capacity in China, further strengthening Amcor’s ability to meet growing customer demand throughout Asia Pacific. The new facility is expected to employ more than 550 people, who will produce flexible packaging solutions for food and personal-care products. The plant comes equipped with the first automated packaging production line in China. This, along with high-speed printing presses, laminators, and bag-making machines, can deliver double-digit reductions in manufacturing cycle times.