Sonoco Implementing Price Increase for All Uncoated Recycled Paperboard Products

Metsä Group’s production units annually generate around 12 million tonnes of wood-based carbon dioxide, and the company is increasingly focusing on promoting its large-scale capture. “Bio-based carbon dioxide is an important but still untapped side stream that could be harnessed more effectively as the technology and markets develop,” says Kaija Pehu-Lehtonen, who has been appointed the new project director of Metsä Group’s carbon capture project. If carbon capture proves viable, it will provide the forest industry with a new high-volume wood-based raw material that can be used to replace fossil-based materials. “We aim to use Nordic wood in a resource-efficient way and make ever greater use of our production side streams to convert wood into increasingly valuable products,” says Sari Pajari-Sederholm, EVP, Strategy at Metsä Group.

Pregis® invests in additional capacity with state-of-the-art, blown film lines across its facilities. This expansion enables Pregis to grow its sustainable, barrier and non-barrier film offerings to meet the growing demands from rigid to flexible packaging in food and consumer packaged goods (CPG). As the market continues to shift, it accelerates the need for flexible solutions that not only provide performance but support the circular economy. The Pregis Renew™ brand of sustainable sealant and print films provides optimal physical properties while also incorporating aspects such as recyclability and recycled content. Flexible solutions, compared to rigid alternatives, inherently create the potential to utilize fewer materials, which can contribute to lower material costs and require less space—both on and off the shelf. “We are constantly seeking ways to develop innovative, high-quality films that align with critical business and environmental goals,” said Bob Gargione, President at Pregis Performance Flexibles. “This investment will allow us to build on our vision of helping customers choose the responsible solution for both their company and the environment.”

First Quarter Financial Highlights include: *Net income of $10.3 million or $0.18 per diluted Class A share decreased compared to net income of $23.4 million or $0.40 per diluted Class A share. Net income, excluding the impact of adjustments(1), of $75.6 million or $1.28 per diluted Class A share increased compared to net income, excluding the impact of adjustments, of $35.9 million or $0.61 per diluted Class A share. *Net cash provided by operating activities increased by $10.9 million to $22.4 million. Adjusted free cash flow(3) decreased by $7.3 million to a use of $18.8 million. *Total debt decreased by $242.6 million to $2,296.8 million. Net debt(4) decreased by $260.9 million to $2,177.1 million. The Company’s leverage ratio(5) decreased to 2.39x from 3.79x and from 2.49x at year-end.