Tetra Laval gives humanitarian help to Ukraine

Net sales in the first quarter were $2,197 million compared to $1,901 million in the first quarter of 2017 reflecting increased beverage can volumes, the pass through of higher material costs to customers, and $121 million of favorable currency translation impact. Income from operations was $221 million in the quarter compared to $225 million in the first quarter of 2017. Segment income increased to $245 million in the first quarter compared to $226 million in the prior year first quarter and included $12 million of favorable currency translation impact. Click Read More below for additional information.

Huhtamaki has strengthened its manufacturing capacity for smooth-molded fiber packaging. Smooth molded fiber is a revolutionary and technologically advanced material that can be used to make very demanding food packaging and to replace hard plastic. Huhtamaki's production plant in Alf, Germany, is moving from the production of plastic products to the production of smooth-molded fiber products to meet the growing demand for plastic-free food packaging. In 2022, the Alpine unit plans to replace more than 2,000 tonnes of plastic with fiber. This modern, automated production unit will be able to produce up to 3.5 billion fiber products annually in the future. Alf's unit will be the first such large-scale plant in Europe with production capacity.

Huhtamäki Oyj has signed a EUR 125 million bilateral term loan facility agreement with a maturity of two (2) years. The term loan will be used for refinancing and general corporate purposes of the Group. The facility has a one-year extension option at the discretion of the Lender, and the interest margin is tied to three sustainability indicators: 1. Absolute scope 1 and 2 greenhouse gas emissions amount 2. Share of non-hazardous waste recycled 3. Ecovadis Rating