Norske Skog Skogn launches food packaging

Spadel and DS Smith launch a new 5 litre package that has been innovatively designed to ensure it’s not only practical, but sustainable too. The respective market leaders, who specialize in natural mineral water and sustainable packaging solutions, joined forces to create the Eco Pack. The octagonal box comprises of cardboard and a flexible inside plastic bag that has room for 5 litres of liquid. Its efficient use of materials enables a 65% reduction in plastic* while also extending the waters shelf life. The octagonal 5L Eco Pack is the latest innovation flowing from Spadel and DS Smith’s partnership over the last decade. As a B-Corp certified company, Spadel consistently seeks new ways to reduce its environmental footprint. DS Smith helped Spadel find and tailor its ideal packaging solution using their PackRight approach. This is a collaborative, four-step development process: starting with gaining insights, then moving on to pack development, testing and implementation. DS Smith’s Supply Cycle Thinking guided Spadel every step of the way to identify specific needs and optimize their 5L SPA® Reine Eco Pack.

*Reported Earnings: For the first quarter 2022, net earnings attributable to the Company were $0.55 per share (diluted) compared to a loss of $0.62 per share in the first quarter of 2021. First quarter 2022 earnings before income taxes were $170 million, compared to a loss of $65 million in the prior year quarter. Both periods included items management considers not representative of ongoing operations and other adjustments. *Segment Operating Profit: Segment operating profit was $231 million compared to $175 million in the prior year quarter. Segment operating profit benefited from 6.4 percent higher sales volume and 3.7 percent higher production volume (in tons). Likewise, higher segment operating profit also reflected favorable net price, continued solid operating performance and benefits from O-I’s ongoing Margin Expansion initiatives. These benefits were slightly offset by higher logistics costs.

Sales of $1,103 million increased by $82 million or 8% compared to the same period last year, reflecting the consolidation of results from the Greenpac Mill beginning in the second quarter, improved pricing and sales mix in all four of the Corporation's business segments, and additional sales from recovery and recycling activities due to higher recycled fibre pricing. These benefits were partially offset by lower volumes in our North American operations, and the stronger Canadian dollar which resulted in a less favourable CAD/USD exchange rate. Third quarter operating income stood at $51 million , a slight improvement from $50 million last year. This performance reflects the inclusion of Greenpac in the current quarter, price increases mainly in Containerboard, and lower Corporate activities costs related to lower stock-based compensation expense. These were offset by higher raw material costs, and higher production costs in Containerboard and Tissue, due to freight and logistics, and increased use of outside contracting. Specific items recorded in the current period (please refer to the ''Supplemental Information on Non-IFRS Measures'' section for more details) decreased operating income by $2 million . On an adjusted basis, third quarter operating income stood at $53 million , down slightly from $55 million in the prior year period. Click Read More below for additional information.