Sonoco Implementing Price Increases for Paperboard Tubes and Cores

Sun Chemical has launched SunCure® Accuflex UV, a new UV ink system for primary and secondary food packaging that is not manufactured with Bisphenol A (BPA)-based materials and meets low migration specifications. Designed for both folding carton and flexible film packaging applications where high press performance, color vibrancy and regulatory compliance are critical, SunCure AccuFlex UV flexo inks offer good adhesion to a variety of film substrates, provide great flexo viscosity stability under high shear conditions, and exhibit excellent UV cure response. Available in North America, SunCure AccuFlex UV inks can be used for a variety of paper packaging applications and feature low post-odor properties that are essential to many brand owners. Click Read More below for additional information.

Net revenues in the first quarter of 2023 were $1,431 million compared to $1,495 million in the first quarter of 2022. The decrease was due to lower sales volume and the impact from dispositions, notably the disposition of Beverage Merchandising Asia on August 2, 2022. Lower sales volume was largely due to our focus on value over volume in the Foodservice and Food Merchandising segments and the market softening amid inflationary pressures in the Beverage Merchandising and Food Merchandising segments. These decreases were partially offset by favorable pricing, due to pricing actions in the Food Merchandising and Beverage Merchandising segments and the contractual pass-through of higher material costs across all segments. Net loss was $133 million in the first quarter of 2023 compared to $43 million of net income in the first quarter of 2022. The decrease was mostly due to $187 million of charges associated with the Beverage Merchandising Restructuring and a $27 million decrease due to the gain on the sale of Naturepak Beverage Packaging Co. Ltd in the prior year period. These decreases were partially offset by a $55 million decrease in tax expense, mainly attributable to decreased profitability.

Mondi will open its new state-of-the-art paper bags plant in Cartagena, Colombia in January 2021. It will be Mondi’s first operation in South America, reinforcing the group’s strength as a global paper bags supplier with a wide local footprint. The new plant will enable Mondi to improve and grow its services to better serve customers in the region. South America is home to more than 250 cement plants requiring up to two billion cement bags per year. Cartagena is a strong location for the new plant, set up in a free-trade zone with good access to ports in Panama, the east coast of the United States, the Gulf of Mexico and other Caribbean ports. "Our global network already includes 39 plants across 22 countries. We are excited to be expanding our footprint to Colombia, helping us to provide innovative, sustainable and customer-focused paper packaging solutions to customers in South America who share our commitment to quality." Claudio Fedalto, Chief Operating Officer Paper Bags, Mondi