Sonoco Implementing Price Increase for Uncoated Recycled Paperboard

*First quarter net earnings (loss) of $172 million ($0.49 per diluted share) *Building a Better IP initiatives delivered $65 million of incremental year-over-year earnings benefit in the first quarter 2023 *First quarter cash provided by operations of $345 million; First quarter free cash flow of $4 million included a $193 million final payment to the IRS for the timber monetization restructuring settlement *Returned $319 million to shareholders through $157 million share repurchases and $162 million in dividends in the first quarter 2023

Smurfit Kappa announces that it has received an unsolicited proposal from International Paper Company, headquartered in Memphis, USA, whereby International Paper would acquire Smurfit Kappa and Smurfit Kappa shareholders would receive a combination of cash and a minority holding in the combined business. The Board of Smurfit Kappa has carefully considered the Proposal and believes it is in the best interests of the Group’s shareholders and other stakeholders to pursue its future as an independent company, operating as the European and Pan-American leader in paper-based packaging. Smurfit Kappa is a world leader in paper-based packaging with an established track record of consistently delivering strong and improving operating and financial performance. Click Read More below for additional information.

Smurfit Kappa has collaborated with a leading UK recipe box company, Mindful Chef, to reduce the company’s carbon footprint by making their packaging more sustainable. Mindful Chef experienced a huge increase in demand for its home-delivered recipe kits during the pandemic. The company, which has been climate neutral since 2020, is committed to making every aspect of its business as sustainable as possible. Its previous recipe box consisted of insulation pouches combined with gel ice packs which, whilst effective at keeping the contents cool, were not easily recycled.