Seaman Paper Launches SeaStretch™, a Lightweight Paper-Based Alternative to Plastic Pallet Wrap

ePac Flexible Packaging, founded in 2016 as the world’s first all-digital flexible packaging company, just turned 8 years old in May of this year. So it’s fair to ask: How is ePac doing with its disruptive business model? From 2016 through 2022 ePac consistently grew 50 -100% per year. In 2023 ePac’s growth slowed, but units produced still increased 30% over 2022 as new customer acquisition remained strong. Today, ePac is an international company with ~$200M in sales. In 2023, and still in 2024, the flexible packaging industry came under significant financial pressure caused by a myriad of factors including inflation, higher interest rates, supply chain issues, emergence from COVID 19, and the availability of capital. The industry, in general, saw top line sales decline and underlying costs increase. ePac responded with a reassessment of its strategy, and took several key steps to mitigate what was/is happening industry-wide.

WestRock Company announced it has completed the acquisition of the remaining interest in Grupo Gondi for $970 million plus the assumption of debt. The transaction is immediately accretive to earnings, subject to customary purchase price allocations. The acquisition of Grupo Gondi includes four paper mills, nine corrugated packaging plants and six high graphic plants throughout Mexico that produce sustainable packaging for a wide range of end markets in the region. This acquisition will enhance the Company’s leading position in the growing Latin American containerboard, paperboard and consumer and corrugated packaging markets.

U.S. Packaging net sales of $672.3 million for the third quarter of 2017 represented an increase of 2.2 percent compared to the same period of 2016. Compared to the prior third quarter, unit volumes were up approximately two percent. U.S. Packaging operating profit decreased to $99.6 million in the third quarter of 2017, or 14.8 percent of net sales, compared to $100.8 million, or 15.3 percent of net sales, in 2016. Compared to the prior year, profits were impacted by previously-negotiated contractual selling price reductions on select products, partially offset by manufacturing efficiencies and the benefits of increased unit volumes. Global Packaging net sales of $362.8 million for the third quarter of 2017 represented a decrease of 1.8 percent compared to the same period of 2016. Currency translation increased net sales by 0.5 percent. Organic sales decline of 2.3 percent reflects unfavorable mix of products sold, partially offset by sales price increases. Compared to the prior third quarter, Global Packaging unit volumes were relatively flat, comprised of weak volumes in the Company’s Latin American business, as anticipated, and offset by net volume growth in the remaining regions of the Global Packaging Segment. Global Packaging operating profit for the third quarter was $24.6 million, compared to $36.2 million for the same period in 2016. Compared to the prior year, lower profits in Global Packaging were driven primarily by the impact of the challenging economic environment in Brazil. Click Read More below for additional information.