Novolex Debuts Power Prep Bags and Rolls for Grab-n-Go Hot Sandwiches and Other Fare

Packaging Corporation of America reported second quarter 2024 net income of $199 million, and net income of $199 million, excluding special items. Second quarter net sales were $2.1 billion in 2024 and $2.0 billion in 2023. In the Packaging segment, corrugated products shipments per day were up 9.2% over last year’s second quarter and total shipments, with one additional shipping day, were up 10.9%. Containerboard production was 1,281,000 tons, and containerboard inventory was up 16,000 tons compared to the second quarter of 2023 and up 20,000 tons versus the first quarter of 2024. In the Paper segment, sales volume was up 12% compared to the second quarter of 2023 and down (8%) versus the first quarter of 2024. Commenting on reported results, Mark W. Kowlzan, Chairman and CEO, said, “results for the quarter reflect our strong market conditions in the Packaging segment. This drove a new all-time containerboard production record in order to service corrugated products and containerboard demand which grew stronger each month, ending with a new corrugated shipments-per-day record for the month of June. We were also able to build some inventory ahead of what we expect to be a busy second half of the year. Packaging segment prices and mix moved higher from first quarter levels as we continue to implement our announced price increases. Paper segment prices and mix as well as volume came in as expected, and the scheduled outage at our International Falls mill was managed very well. Results also reflect our constant focus on minimizing inflationary cost increases through efficiency and usage initiatives and capital project benefits throughout our mills and converting facilities.”

Graphic Packaging Holding Company (NYSE: GPK), today announced that its wholly owned subsidiary, Graphic Packaging International, Inc., will close its coated recycled paperboard mill in Santa Clara, California by year end. This decision was made as a result of a thorough assessment of the facility's manufacturing capabilities and associated costs in the context of the Company's overall mill operating capability. The closure will affect approximately 120 employees.

When award-winning ethical jewellery brand Yala was looking for packaging materials compatible with its values and Certified B Corporation status, it selected Invercote Duo from Antalis. Founded by Kenyan-born Audrey Migot-Adholla, Yala takes the inspiration for its jewellery from modern Africa, combining traditional craft with 21st-century values. It is the first jewellery brand in the UK to be a Certified B Corporation, committed to treating people, communities and the environment respectfully, sustainably and ethically. It is important to Yala that every aspect of the packaging is as low impact and sustainable as possible, which is why they selected FSC®-certified Invercote Duo. Due to its strength, toughness and thickness, Invercote Duo is especially suitable for wine and spirits packaging and point of sale displays and is ideal for the packaging of luxury products such as Yala jewellery. Invercote Duo is manufactured by Iggesund at its mill in Sweden, which has been awarded Platinum for sustainability by Ecovadis, putting it in the top 1% off all 65,000 companies rated by Ecovadis.