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International Paper to close 5 sites, affecting 500 employees
Yahoo Finance· 2025-11-12 11:58
This story was originally published on Packaging Dive. To receive daily news and insights, subscribe to our free daily Packaging Dive newsletter. Dive Brief: International Paper announced Wednesday it plans to close five sites in Germany as part of its integration with DS Smith, the London-based packaging company it acquired in January for an estimated $7.2 billion. The manufacturing sites included are a conventional box plant, a display and offset site, and three sheet plants; another display site also ...
TriMas selling aerospace arm for $1.45B to focus on packaging
Yahoo Finance· 2025-11-04 11:49
Core Insights - TriMas is divesting its aerospace division to focus on its packaging business, which is its largest segment [2][6] - The aerospace segment is being sold for approximately $1.45 billion to a subsidiary of Tinicum, with the deal expected to close by the end of Q1 2026 [2] - The new CEO, Thomas Snyder, emphasized a strategy centered around a high-margin packaging platform and plans for targeted acquisitions to drive growth [2][3] Company Strategy - TriMas aims to unify its branding within the packaging business by consolidating over six legacy brands into a single, cohesive brand [4] - The company reported net sales of $269.3 million in Q3, with packaging contributing $135.7 million, reflecting a 4.2% year-over-year increase driven by growth in beauty and personal care dispensers [5] - The company has previously indicated a review of its portfolio, having exited the oil and gas market by selling its Arrow Engine business [6] Industry Context - Other major packaging manufacturers are also refining their focus, such as Sonoco's sale of its temperature-controlled solutions business for up to $725 million and International Paper's pending sale of its global cellulose fibers business [6] - Ball, another significant player in the packaging industry, sold its aerospace business for $5.6 billion to BAE Systems [7]
Elopak again growing in US, citing milk carton demand
Yahoo Finance· 2025-10-31 10:28
Core Insights - Elopak, a Norwegian carton manufacturer, is expanding its U.S. operations with a new production line in Arkansas to meet increasing demand for milk cartons [1][2][3] Expansion Plans - A third production line is projected to cost $30 million and is expected to start in 2027, while a second line is being installed with production anticipated in the first half of 2026 [2] - The second line will produce the usual range of Pure-Pak cartons, while the third line will focus on smaller sizes, including cartons for school milk [3] Market Demand - Elopak has experienced strong demand as dairies are securing their supply through dual sourcing, as noted in their Q3 report [4] - The company has been supplying North American customers from Canada, Mexico, and the Caribbean for years, with an average growth rate of 15% annually since 2020 [6] Financial Performance - The Arkansas plant currently employs around 100 people and has been profitable as of Q3, with customer onboarding taking longer than expected [5] - Elopak reported an 18% organic revenue growth in the Americas, totaling approximately 88 million euros in Q3 [5] Strategic Goals - The third line in Arkansas is expected to help Elopak increase market share and provide a broader product portfolio, enhancing its value as a supplier [7] - Under its 2030 strategy, Elopak aims to achieve 2 billion euros in global revenue, with year-to-date revenues of about 890 million euros, reflecting a 1.9% year-over-year increase [8]
Elopak to add third production line at Arkansas carton plant
Yahoo Finance· 2025-10-28 12:32
Core Insights - Elopak is expanding its carton converting plant in Little Rock, Arkansas, by adding a third production line with a budget of $30 million to meet customer demand [1][2] - The Little Rock facility, which opened in April 2025, produces Pure-Pak cartons for various liquid products [1] - Elopak's third quarter of 2025 saw record EBITDA of €49.1 million ($57.2 million), marking a 17% margin and the highest quarterly EBITDA to date [3] Expansion Plans - Elopak initially announced plans for the US production plant in June 2023, with construction starting in March 2024 and expected completion in early 2025 [2] - A second production line is set to be operational by 2026, following its announcement in September 2024 [2] Financial Performance - Organic revenue for Q3 2025 increased by 1.2% year-on-year to €289.7 million, with a notable 18% growth in sales in the Americas on a constant currency basis [3] - The Little Rock plant achieved its first profitable quarter during this period [3] Strategic Initiatives - Elopak's improved cash flow led to a reduction in net debt by €34 million during the quarter [4] - The CEO emphasized the significance of the profitability milestone in Little Rock and the investment in the third production line as a commitment to the Americas and sustainable packaging solutions [4] Product Development - In May 2025, Elopak launched a new paperboard product, Natural White Board, which can reduce the carbon footprint of packaging by up to 14% compared to standard board cartons [5] - The new product will be available across Pure-Pak cartons globally [5] - Earlier in the year, Elopak invested in Blue Ocean Closures, a Swedish manufacturer of fiber-based closures for packaging applications [5]
Cascades to divest flexible packaging plant in Ontario, Canada
Yahoo Finance· 2025-10-09 08:59
Core Insights - Cascades has agreed to sell its flexible packaging plant in Mississauga, Ontario to Five Star Holding for C$31 million ($22.23 million), effective immediately [1][2] - The divestment aligns with Cascades' strategy to focus on core business areas and optimize its operational structure, which includes reducing debt [2][3] - Five Star Holding aims to enhance its growth in sustainable packaging for consumer, food, and beverage markets across North America through this acquisition [3] Company Overview - Cascades operates 65 facilities across North America and employs approximately 9,500 people [4] - The Mississauga facility is the only location where Cascades produces printed flexible plastic packaging and films, and it will transfer 45 employees to Five Star upon completion of the sale [1][2]
Amcor and Cofigeo partner to create multi-compartment tray designed for convenience and sustainability
Prnewswire· 2025-06-24 13:45
Core Insights - Amcor has developed a bespoke three-compartment ready meal tray for Cofigeo's new range of single-serve ambient microwaveable meals, aligning with sustainability commitments [1][2] - The tray is designed to meet recycling guidelines and is made from lightweight mono-material polypropylene, suitable for France's recycling infrastructure [1][4] Product Details - The trays will package five distinct recipes from the William Saurin Mon Trio Gourmand range, featuring meat or fish, starchy food, and vegetables, allowing consumers to choose whether to mix the components [3] - The design includes different sized compartments to accommodate various ingredient sizes, textures, and densities while ensuring compatibility with existing filling lines and providing an effective oxygen barrier [4][5] Consumer Feedback - Consumer reaction has been positive, with up to 80% of participants in pre-launch testing indicating they plan to eat directly from the tray, highlighting its practicality [6] - The color and design of the tray have also been well received by consumers [6] Company Background - Amcor is a global leader in packaging solutions, focusing on responsible and sustainable packaging across multiple materials, with a workforce of approximately 70,000 across 140 countries [7]
Sonoco Releases 2024 Corporate Sustainability Report
Globenewswire· 2025-05-08 13:20
Core Insights - Sonoco Products Company has transformed into a more sustainable packaging company following the acquisition of Eviosys, enhancing its sustainability footprint and global reach [1][2] Group 1: Sustainability Initiatives - The acquisition of Eviosys adds 6,300 employees and 45 facilities across Europe, the Middle East, and Africa, positioning Sonoco as a global leader in metal and fiber packaging [2] - Sonoco aims to reduce Scope 1 and 2 greenhouse gas emissions by 25% by 2030 from a 2020 baseline, supported by investments in renewable energy and energy efficiency [3] - In 2024, Sonoco implemented 27 sustainability projects, achieving a 9.6% reduction in energy use, surpassing its 8% goal for 2030 [4] Group 2: Emission Reductions and Achievements - Eviosys achieved a 26.3% reduction in Scope 1 and 2 emissions from its 2020 baseline in 2024 and received an EcoVadis Platinum rating for environmental performance [5] - The integration of energy-efficient technologies is expected to reduce natural gas usage by 60% and eliminate solvent emissions [5] Group 3: Product Innovations - Sonoco's packaging innovations include the Rigid Paper Container and lightweight steel aerosols, which enhance recyclability and reduce carbon emissions [6] - Eviosys' Ecopeel and Horizon products have been recognized for their sustainable design, cutting carbon emissions by 20% and enhancing recyclability [6] Group 4: Corporate Vision and Recognition - Sonoco's mission, "Better Packaging. Better Life.", drives its commitment to sustainability and innovation across its global operations [7] - The company has been recognized as one of America's Most Trustworthy and Responsible Companies by Newsweek in 2025 [8]
International Paper Celebrates the Groundbreaking of Greenfield Packaging Facility in Waterloo, Iowa
Prnewswire· 2025-05-02 12:10
Core Viewpoint - International Paper is investing in a new sustainable packaging box plant in Waterloo, Iowa, which will enhance its capabilities in the protein segment and meet the growing demand for high-quality packaging solutions [1][2][3]. Group 1: Facility Details - The new facility will be the largest greenfield box plant for International Paper in the U.S. and is strategically located in the Midwest [1][2]. - It is scheduled to begin operations in the fourth quarter of 2026 and will create approximately 65 new jobs, bringing the total team members to 190 [4]. Group 2: Company Commitment - The investment reflects the company's dedication to growth in competitive markets and its commitment to delivering quality and reliable products to customers [3]. - The plant will utilize cutting-edge technology and incorporate the latest safety practices, emphasizing the company's focus on innovative and sustainable packaging solutions [3]. Group 3: Company Overview - International Paper is a global leader in sustainable packaging solutions, with headquarters in Memphis, Tennessee, and operations in over 30 countries [5]. - The company reported net sales of $18.6 billion for 2024 and acquired DS Smith in 2025, strengthening its position in the North American and EMEA markets [5].