Suzano terminates negotiations on potential IP takeover

To grow the Packaging Automation business in the packaging sector, Stora Enso has partnered with Radpak, a Polish packaging machinery manufacturer focusing on packaging automation for primary and secondary packaging. Packaging Automation is expanding their business outside of Gothenburg, Sweden where Stora Enso has its current factory. Radpak’s factory is located in Włocławek, Poland, which strengthens Packaging Automation’s growth strategy in Central and Northern Europe and gives a local presence with service and aftermarket. The partnership will grow the portfolios of the two companies which means Stora Enso can offer both primary and secondary packaging, one point of contact for the customer.

Smurfit Kappa has developed an innovative and sustainable water-resistant paper. AquaStop™ is part of Smurfit Kappa’s new TechniPaper® portfolio, which consists of an array of high-performance papers designed to handle even the most complex supply chains. The AquaStop™ paper is water-resistant thanks to a special coating which is added to it during the manufacturing process. Unlike many other coatings, this does not compromise the recyclability of the product and can be recycled in the same way as standard paper-based packaging. AquaStop™ is the latest innovation in Smurfit Kappa’s Better Planet Packaging portfolio of products, which offer sustainable alternatives to single-use plastics. As it is designed to withstand exposure to water without being damaged, it is suitable for eCommerce packaging and packaging for products such as flowers, detergent and fruit and vegetables where temporary protection against water is needed.

O-I Glass, Inc. announced that its wholly owned subsidiary, Paddock Enterprises, LLC, has reached an agreement in principle for a consensual plan of reorganization under section 524(g) of the Bankruptcy Code. Paddock, the Official Committee of Asbestos Personal Injury Claimants, and the legal representative for the future asbestos personal injury claimants all agreed to accept the terms of a mediator’s proposal regarding a potential consensual plan of reorganization for Paddock. O-I Glass supports the agreement among Paddock, the ACC and the FCR that follows a successful court-approved mediation process conducted by Kenneth Feinberg and the Honorable Layn R. Phillips in connection with Paddock’s ongoing Chapter 11 case. “From the beginning of the Chapter 11 process, we have been committed to supporting a resolution of Paddock’s legacy asbestos liabilities in a manner that ensures claimants are treated fairly while providing finality and certainty for O-I Glass and Paddock. This agreement is a positive and significant step toward achieving those objectives. O-I Glass and Paddock look forward to working cooperatively with the ACC and FCR to implement the terms of the agreement. We believe this is the best path to not only equitably address Paddock’s legacy liabilities but also move expeditiously toward emergence,” said Andres Lopez, CEO of O-I Glass.