Core Insights - Brookfield Business Partners reported a net income of $43 million for the year ended December 31, 2025, a significant improvement from a net loss of $109 million in 2024, indicating a recovery in financial performance [2][50] - The company generated over $2 billion from capital recycling initiatives and invested $700 million in four growth acquisitions during the year [2] - Adjusted EBITDA for 2025 was $2,409 million, down from $2,565 million in 2024, reflecting the impact of lower ownership in three businesses due to partial sales [3][4] Financial Performance - Net income (loss) attributable to Unitholders for Q4 2025 was $(4) million, compared to $(438) million in Q4 2024 [2] - Adjusted EBITDA for Q4 2025 was $652 million, slightly down from $653 million in Q4 2024 [3] - The net income per limited partnership unit for 2025 was $(0.30), an improvement from $(0.50) in 2024 [2][44] Segment Performance - The Industrials segment achieved an Adjusted EBITDA of $1,281 million for 2025, a 10% increase compared to the previous year, excluding acquisitions and tax recoveries [4] - The Business Services segment's Adjusted EBITDA was $823 million for 2025, down from $832 million in 2024, but showed a 5% increase when excluding the impact of acquisitions and dispositions [6][7] - The Infrastructure Services segment reported an Adjusted EBITDA of $436 million for 2025, down from $606 million in 2024, impacted by the sale of operations [9] Strategic Initiatives - The company is nearing completion of a corporate reorganization aimed at enhancing global demand for its shares, with approval received from unitholders and the Supreme Court of British Columbia [12] - Brookfield Business Partners plans to acquire Fosber, a global provider of machinery for the corrugated packaging industry, for approximately $480 million, with BBU's share expected to be around $170 million [11] - A repurchase program has returned approximately $235 million to owners through the buyback of 8.8 million units and shares since its launch [13][14] Liquidity and Dividends - As of December 31, 2025, the company had approximately $2,135 million in liquidity, with pro forma liquidity estimated at $2,600 million after recent transactions [15] - Following the corporate reorganization, the company expects to declare a quarterly dividend of $0.0625 per share, with an annual dividend target of $0.25 per share [16][51]

Core Insights - Smurfit Westrock plans to permanently close a corrugated sheet and box facility in California, affecting 141 employees [1][2] - The closure is part of a broader strategy to optimize operations following the acquisition of WestRock by Smurfit Kappa in July 2024 [3] - The company has experienced a total loss of 4,500 employees and approximately 500,000 tons of capacity closures since the business combination [4] Facility Closures - The California facility in City of Industry is set to close on December 14, with all employees terminated at that time [2] - Previous closures include a facility in Cedar Rapids, Iowa, affecting 100 employees, and a plant in Portland, Oregon, announced in April [5] - Additional closures in April involved four facilities impacting 650 employees across various locations [5] Investment Plans - Despite the closures, the company plans to invest nearly $19.3 million to expand its corrugated operations in Saltillo, Mississippi, by October 2026 [6]

Core Insights - The Abbe Group has announced the acquisition of Oji Fibre Solutions' operations in Australia, which is expected to strengthen its position in the Australian corrugated packaging market [1][2] - The deal includes Oji's corrugated operations in Queensland, New South Wales, and Victoria, as well as Oji Cardboard Carton Solutions and regional distribution facilities [2] - The completion of the transaction is anticipated on November 1, 2025 [2] Company Statements - Oji Fibre Solutions' chairman Jon Ryder emphasized that this acquisition is part of their transformation towards a more stable and sustainable business model, allowing them to focus on core operations in New Zealand [3] - The Abbe Group described the acquisition as a "major milestone" that will enhance its infrastructure and service reach, expressing enthusiasm for the future collaboration with the Oji team [3]