Production to Halt on PS Hot Cup Lids in Favor of PP

Wikoff Color announces the opening of its 34th manufacturing location in Milwaukee, WI focused on the flexible packaging market. The newly constructed facility will be the main hub for the company’s solvent- and water-based gravure operations. In addition to manufacturing and warehouse space, Wikoff Color – Milwaukee will also boast a fully-equipped R&D department, a Training center and a Wikoff Graphics arm. The new location will feature leading-edge, energy-efficient milling technology and is expected to bring approximately 50 jobs to the greater Milwaukee area. Joe Kubasiak, Director of Flexible Packaging for Wikoff Color, will head up the new branch. “This state-of-the-art facility will allow us to provide an even greater level of service and support to our customers in the packaging market,” Joe commented. “Our investment in technology and increased manufacturing capacity will be integral to our growth in the flexible packaging space.” Joe has been with the company since 1992 and has held several management positions, including Plant Manager of the largest bulk manufacturing site in Fort Mill, SC.

Amcor released its first Task Force on Climate-Related Financial Disclosure (TCFD) report, which includes the results of Amcor’s climate scenario analysis exercise, along with information about the company’s climate governance structure, risk management approach and performance metrics. As a leader in sustainability, the report marks another milestone for the organization, ensuring continued transparency of its climate-related business risks as well as providing a roadmap on how to best integrate climate risk management opportunities within its operational strategy. Michael Casamento, Chief Financial Officer at Amcor, said, “The report represents the latest example of how Amcor has integrated climate-related considerations into its growth strategy and risk management framework. Adding TCFD standards to our sustainability-related reporting that already adheres to the Global Reporting Initiative (GRI), as well as leading the packaging industry by reporting against SASB standards, helps us continue to lead with transparent, forward-thinking environmental stewardship.”

Sonoco announced it has entered into a new five-year $750 million revolving credit facility (the “Credit Agreement”) with a syndicate of banks. The Credit Agreement replaces an existing credit facility entered into on July 20, 2017, and reflects substantially the same terms and conditions. “We are pleased to upsize our prior $500 million committed credit facility with a new $750 million revolver and extend the maturity date for an additional five years. This new credit facility provides us with additional financial flexibility and reflects our strong credit profile. It also illustrates the solid relationships with our commercial banks,” said Julie Albrecht, Sonoco Vice President and Chief Financial Officer.