Sonoco-Alcore to Implement Additional Price Increases for Tubes & Cores in Europe

Flexible packaging paper Koehler NexPlus® Seal is used for secondary packaging. In this way, Ritter is taking up the changed consumer behavior as a pioneer. The switch to paper stand-up pouches was made without any large investment in packaging machines. Alfred Ritter GmbH & Co. KG aims to create packaging solutions from renewable raw materials that are in harmony with both humans and nature and recyclable. With a view to achieving this goal, the company actively monitors changes in consumer behavior, changes which have grown exponentially in recent months. The concept of sustainability is becoming a key criterion in shoppers’ purchase decisions, with packaging an increasingly important factor as shoppers no longer take the individual product into sole consideration. Ritter focuses on the first secondary packaging made of paper.

At Crown, we continue to prioritize initiatives that enhance sustainability and reduce greenhouse gas (GHG) emissions. This is reflected in our Twentyby30 sustainability strategy, which includes a commitment to dedicate at least half of Research & Development (R&D) efforts toward minimizing the footprint of our products and manufacturing processes. Our ambitious plan also strives to decrease GHG emissions by reducing packaging material use by making aluminum cans 10% lighter in weight by 2030 (compared to a 2019 baseline). In 2021, after several years of intensive development efforts, our R&D and Customer Technical Services (CTS) teams achieved a 4% global average reduction in our standard 12 oz. (330 ml) can weight. The CTS team, composed of expert engineers offering training and production analysis support, was pivotal in ensuring these lighter-weight cans did not sacrifice performance or the critical barrier and strength properties that brand owners’ demand. Lightweighting efforts add to metal’s superior properties in terms of recyclability and the benefits are compounded as the material circulates through the process time and time again. Weight reductions allow us to produce more cans with the same amount of aluminum used previously for standard cans, which has a positive impact on GHG emissions through energy savings.

*Reported sales increased 7% and net income increased 55% to $84 million *Core sales increased 2% and adjusted EBITDA of $193 million increased 26% from the prior year *Pharma proprietary drug delivery systems had double-digit growth across multiple therapeutic applications *Beauty’s prestige and mass fragrance dispensing technologies had double-digit sales growth *Reported earnings per share increased about 56% to $1.26 compared to $0.81 in the prior year *Adjusted earnings per share increased 39% to $1.39 compared to $1.00 in the prior year (including comparable exchange rates) *Margins continued to expand across all three segments *Cash flow from operations was $173 million and free cash flow was $97 million, up from $55 million in 2022, a 76% increase