Finance
-
Permission granted by Berry Global
Berry completes multiple divestitures with ‘line of sight to much more’
Divestitures within the next year could net at least $2 billion in cash proceeds, said Berry Global CEO Kevin Kwilinski, who is upping the company’s focus on consumer packaging.
By Maria Rachal • May 10, 2024 -
Retrieved from U.S. Chemical Safety Board.
PCA to appeal $91.8M payout verdict for Louisiana plant explosion
Packaging Corporation of America believes its insurance will cover the cost of damages in the latest lawsuit over a deadly 2017 explosion at a pulp mill in DeRidder, Louisiana.
By Katie Pyzyk • May 9, 2024 -
Courtesy of Suzano
Brazilian paper company pursuing $15B offer for International Paper: Reuters
The report of Suzano’s verbal proposal comes weeks after International Paper’s agreement to buy DS Smith. Both sides could have an interest in combining fluff pulp supply, according to one analyst.
By Katie Pyzyk • Updated May 7, 2024 -
Courtesy of https://www.prnewswire.com/news-releases/sonoco-plastics-opens-new-albany-ohio-plant-to-commercial-production-176422751.html
Sonoco says higher snack, food prices hurt packaging sales volumes
Executives expect slower consumer spending, even when brands and retailers run promotions, to stretch into the second quarter and dampen sales.
By Katie Pyzyk • May 3, 2024 -
Permission granted by Graphic Packaging International
Graphic Packaging sees volumes improve, finalizes Georgia mill sale
Executives on Tuesday’s earnings call emphasized progress with “innovation” sales, including for the Boardio rigid fiber canisters, Nissin Cup Noodles fiber cups and Chick-fil-A fiber cold beverage cups.
By Katie Pyzyk • May 2, 2024 -
Courtesy of O-I
O-I blames destocking as down quarter gives way to lower 2024 projections
O-I Glass muted sales volume estimates amid consumer weakness, and it expects customers’ excess capacity may temper typical seasonal demand. But April showed improvements over recent quarters, executives said.
By Maria Rachal • May 2, 2024 -
SafakOguz via Getty Images
International Paper to raise fiber product prices again, others likely to follow, analysts say
A fresh wave of increases, reportedly occurring in June, could further rile markets following a monthslong controversy over price acceptance.
By Katie Pyzyk • May 1, 2024 -
Permission granted by Amcor
Destocking abates, but healthcare market still a sticking point, Amcor says
Interim CEO Peter Konieczny also weighed in on packaging regulations advancing in the EU and the potential extension of some companies’ sustainability targets during a Tuesday earnings call.
By Maria Rachal • May 1, 2024 -
LordRunar via Getty Images
Crown projects up to 5% volume growth in North America this year
CEO Tim Donahue said that after notable destocking in the fourth quarter, business is bouncing back in Europe this year, where one of two new plants recently got up and running.
By Maria Rachal • April 30, 2024 -
Permission granted by JBM Packaging
Deep DiveSecond chance hiring can bridge labor gaps, break employment barriers
Although some companies say they initially hire formerly incarcerated individuals to overcome a labor shortage, these programs can lead to less employee churn, lower recidivism and life-changing impact, advocates say.
By Katie Pyzyk • April 30, 2024 -
Permission granted by Ball Corporation
Ball navigates shifting beverage markets after aerospace sale, Bud Light boycott
Volumes and mix for Ball are shifting as the beer market resets. In the can maker’s first earnings call since completing the sale of its aerospace business, executives detailed plans for significant stock buybacks in 2024.
By Maria Rachal • April 29, 2024 -
Romeo Gacad via Getty Images
Packaging manufacturers discuss Q1 trends
Catch up on the latest earnings commentary from Berry, Sonoco, O-I, Graphic Packaging, Amcor, Crown, PCA, International Paper and Ball.
By Packaging Dive Staff • Updated 4 hours ago -
Courtesy of International Paper/Cision
Fire and ice cool International Paper’s Q1 earnings
January and February incidents resulted in notable charges. CEO Mark Sutton, during his last earnings call before retirement, discussed volume trends but didn’t comment on the announced DS Smith acquisition.
By Katie Pyzyk • April 26, 2024 -
Rost-9D via Getty Images
Fiber markets move toward recovery from pandemic-era imbalances
Paper packaging and board demand is pulling up from a 3% dip last year, according to analysts from Fastmarkets RISI, Bank of America Global Research and Truist Securities. But pricing controversy remains.
By Katie Pyzyk • April 24, 2024 -
samritk via Getty Images
PCA’s corrugated product shipments rise as demand rebounds
Demand in Q1 exceeded Packaging Corp. of America's expectations, said CEO Mark Kowlzan. Executives again expressed frustration with the impact of Fastmarkets RISI’s pricing index and noted the search for alternative methods.
By Katie Pyzyk • April 23, 2024 -
Permission granted by DS Smith
Acquisition of DS SmithInternational Paper-DS Smith deal faces few barriers following Mondi’s exit, analysts say
The companies don’t expect regulator pushback thanks to their complementary geographies. Although IP outlined efforts to prevent disruption to existing employees, 400 layoffs could result from the deal.
By Katie Pyzyk • April 22, 2024 -
Courtesy of Mondi Group Plc
Acquisition of DS SmithMondi ends bid for DS Smith following International Paper deal
Mondi’s announcement comes days after the boards of International Paper and DS Smith recommended that those two companies combine and days before a deadline to submit a potential counteroffer.
By Maria Rachal • April 19, 2024 -
Rost-9D via Getty Images
Acquisition of DS Smith
International Paper announces all-share agreement to acquire DS Smith, valued at $7.2B
The deal bests a preliminary purchase proposal from rival Mondi. It comes one week before a deadline to submit formal offers for acquiring the London-based paper packaging company.
By Katie Pyzyk • April 16, 2024 -
Permission granted by Myplas
Eviction threat looms as film recycler Myplas accrues $1.3M in unpaid bills
Unexpected financial challenges occurred shortly after the company launched its highly anticipated Minnesota polyethylene film recycling operation in December, according to Peter Shippen, Myplas board chair.
By Katie Pyzyk • Updated April 15, 2024 -
AndrisTkachenko via Getty Images
Q&AIs hemp the next revolution for sustainable packaging? Startup element6 Dynamics thinks so.
CEO Kimberly Kovacs details the company’s push to use industrial hemp for making paper and packaging, which she says is a more sustainable option than tree pulp.
By Katie Pyzyk • April 8, 2024 -
Courtesy of O-I Glass
O-I Glass names new CEO as longtime leader prepares to retire
Gordon Hardie, a board member, will take over in mid-May as Andres Lopez plans to retire after nearly 40 years with the company.
By Katie Pyzyk • April 4, 2024 -
Permission granted by DS Smith
Acquisition of DS Smith
DS Smith extends Mondi’s offer deadline, IP details its counterproposal
The bidding war for DS Smith heats up as Mondi’s offer deadline is now set for the same day as International Paper’s. IP provided additional specifics about its proposal, including plans to create a second headquarters.
By Katie Pyzyk • April 4, 2024 -
Retrieved from ND Paper on April 02, 2024
ND Paper, Opus, Jindal among March plant shutdown announcements
More than 300 employees are expected to be affected by temporary or permanent shutdowns in Georgia, Maine, Michigan and Wisconsin.
By Katie Pyzyk • April 2, 2024 -
Lisa Beeby via Getty Images
Acquisition of DS SmithBidding war speculation brews as International Paper proposes DS Smith acquisition
IP’s more than $7 billion proposal comes as next week’s deadline approaches for Mondi to make a formal offer for DS Smith.
By Katie Pyzyk • March 27, 2024 -
Permission granted by Emerald Packaging
Emerald bullish on PCR as produce packaging company marks transition
Co-owner Jim Kelly is stepping down from his EVP role as he reflects on decades of innovation in the produce market. The family business looks to forge ahead on recycled content implementation in flexible packaging.
By Maria Rachal • March 26, 2024
