Finance: Page 2

  • O-I Glass global headquarters.
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    Courtesy of O-I Glass
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    O-I Glass discloses $21M severance charge amid furnace closures

    The company detailed an optimization plan in July. In the past two months, O-I has disclosed multiple furnace closures impacting hundreds of employees and a Q3 charge related to expected Q4 severance payouts.

    By • Oct. 17, 2024
  • International Paper's new logo.
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    Courtesy of International Paper/Cision
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    International Paper to lay off 650 employees

    The company released additional details this week about corporate layoffs in Memphis, Tennessee, with hundreds of employees to be impacted the first week of January.

    By • Updated Nov. 14, 2024
  • International Paper's new logo.
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    Courtesy of International Paper/Cision
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    Acquisition of DS Smith

    International Paper, DS Smith shareholders vote to approve combination

    The shareholders’ approvals push the deal closer to closing, which the parties still expect to occur this quarter. The combined companies anticipate pro forma sales of over $28 billion.

    By • Oct. 11, 2024
  • A sign outside a building that shows a logo for Plastipak.
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    Kristoffer Tripplaar/Sipa/AP

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    Longtime Plastipak Packaging CEO steps down, welcomes ‘next generation of leadership’

    William Young, who co-founded the family-owned company in 1967, passed the torch this week to his son-in-law, Edward Morgan, who has worked at Plastipak for more than 20 years.

    By • Oct. 9, 2024
  • Origin Materials' first commercial-scale plant for manufacturing CMF.
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    Permission granted by Origin Materials
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    Dart Container, Origin Materials announced workforce cuts in September

    New data shows U.S. manufacturing contracted and layoffs rose last month. News of workforce reductions by Berry Global and Origin cropped up in Canada, as well as at Dart’s corporate headquarters in Michigan.

    By • Oct. 2, 2024
  • A view of vendor displays on the show floor at Pack Expo East at the Pennsylvania Convention Center in Philadelphia on March 20, 2024.
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    Maria Rachal/Packaging Dive
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    Packaging trade shows to watch in 2025

    Mark your calendar: These U.S. conferences and events will cover timely trends in sustainable packaging design, recycling technologies, regional market trends, substrate evolutions, automation and more.

    By Packaging Dive Staff • Oct. 1, 2024
  • A group of workers hold up a sheet of corrugated medium in an industrial facility.
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    Courtesy of Welch Packaging
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    Summer 2024 brought numerous new, expanded facility announcements

    Axium Packaging, Green Bay Packaging, Greif, Pallet Distributors and Tetra Pak are among the companies that have made notable investments in growing operations.

    By • Sept. 11, 2024
  • Flexible plastic packaging pouches
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    Romeo Gacad via Getty Images
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    These packaging companies and organizations have named new CEOs in 2024

    There’s a new wave of leaders this year at some of the most notable public and private companies, as well as related nonprofit groups. Catch up on the latest appointments.

    By Packaging Dive Staff • Updated Oct. 10, 2024
  • Side view of a semi-truck with the Amcor logo and the phrase "Creating a new world of packaging"
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    Courtesy of Amcor
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    Amcor drops ‘interim’ from Peter Konieczny’s CEO title

    Amcor also named a new chief sustainability officer and chief operating officer. Konieczny stepped in after Ron Delia, CEO for nine years, announced he would retire due to health reasons.

    By • Updated Sept. 6, 2024
  • Wide shot of a building exterior with the "Myplas" logo.
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    Permission granted by Myplas
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    Myplas film recycling plant in Minnesota to reopen under new ownership

    GDB Circular plans to upgrade the facility and improve operations at the film recycling plant, which opened in December but idled soon after due to financial issues.

    By Megan Quinn • Sept. 4, 2024
  • A Smurfit WestRock banner hangs in front of the New York Stock Exchange
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    Courtesy of Smurfit WestRock
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    Silgan Containers, Smurfit Westrock reported layoffs in August

    The announcements of manufacturing and administrative workforce changes come as U.S. production more broadly hit a four-year low in August, according to the Institute for Supply Management.

    By • Sept. 4, 2024
  • Heavy-duty trucks with the Veritiv logo in front of a warehouse.
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    Retrieved from Veritiv Corp. on August 07, 2023
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    Veritiv to acquire Orora Packaging Solutions for $1.2B

    The transaction will enhance private equity-backed Veritiv’s specialty packaging distribution capabilities, while Orora will transition to a dedicated beverage packaging business.

    By • Sept. 4, 2024
  • Cardboard boxes displaying UFP Packaging's logo are bundled together on a pallet and covered with plastic wrap.
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    Katie Pyzyk/Packaging Dive
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    UFP Industries reshuffles top leadership

    CEO Matthew Missad will leave the role at year’s end, and a 26-year UFP employee will step in.

    By • Sept. 3, 2024
  • A variety of consumer products in flexible packaging, alongside rolls of flexible labels.
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    Retrieved from Fortis Solutions Group on September 03, 2024
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    Fortis Solutions Group names new CEO

    Carlos Tapias brings more than 20 years of packaging experience to the role. He takes over the job from the company’s founder.

    By • Sept. 3, 2024
  • Fourteen people wearing safety vests have a discussion on the floor of an industrial facility.
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    Courtesy of Greif
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    Greif nears completion of core business reorganization

    Executives on a Thursday earnings call also detailed the most recent round of fiber price increases, signaling it’s the last hike for 2024.

    By • Aug. 29, 2024
  • Brown plastic bottles being made on a manufacturing line.
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    Retrieved from Pretium Packaging on August 27, 2024
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    Pretium Packaging names new CEO

    The rigid plastic container manufacturer has grown in recent years, in part through acquisitions. It brings in an industry veteran with experience at Alpla, Amcor and O-I.

    By • Aug. 27, 2024
  • A stack of corrugated "fanfold," or accordion-folded box material.
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    Retrieved from International Paper on August 27, 2024
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    International Paper’s chief commercial officer transitioning to new role

    Tom Hamic will begin leading the company’s container and containerboard business next month. He has been with IP in various roles since 1991.

    By • Aug. 27, 2024
  • Side view of a semi-truck with the Amcor logo and the phrase "Creating a new world of packaging"
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    Courtesy of Amcor
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    Amcor reports volume momentum, despite drag from healthcare and beverages

    Interim CEO Peter Konieczny said that aside from lagging healthcare destocking and softness in consumer beverage spending, the company is seeing volumes tick up. Amcor met or exceeded its financial guidance for FY24.

    By • Aug. 19, 2024
  • Workers celebrate at Cascades Containerboard Packaging plant in Bear Island, Virginia
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    Courtesy of Cascades
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    Cascades’ new CEO details sales gains, production hit in Q2

    Maintenance at facilities in New York and Virginia reduced production capacity by about 8,000 tons in Q2, but CEO Hugues Simon was optimistic about future growth at the company.

    By • Aug. 13, 2024
  • Cookies are housed in a clear plastic try with a reclosable plastic film cover.
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    Katie Pyzyk/Packaging Dive
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    SEE’s Q2 food gains offset by protective packaging weakness

    One month into his new role, CEO Patrick Kivits detailed progress on SEE’s optimization plan. Executives anticipate volume weakness will persist into 2025.

    By • Aug. 9, 2024
  • People enter a McDonald's restaurant that has posters on the windows advertising meal deals.
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    Mario Tama via Getty Images
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    Consumers’ curtailed fast food consumption in Q2 hit packaging earnings

    From McDonald’s to KFC, quick-service restaurants’ Q2 results generally haven’t been finger lickin’ good. Their packaging suppliers hope promotions will lure back inflation-weary consumers.

    By • Aug. 8, 2024
  • An industrial campus located along a body of water.
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    The image by Ken Lund is licensed under CC BY-SA 2.0
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    Clearwater to enter site-sharing deal in Idaho with Sofidel upon tissue divestiture

    The tissue business sale is expected to be complete in the fourth quarter as Clearwater transitions to become a more paperboard-focused business with new product offerings.

    By • Aug. 7, 2024
  • Stacked lear plastic containers of different sizes filled with nuts, candy and other snacks
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    Courtesy of Placon
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    Layoffs and closures at Placon, Supremex, WestRock announced in July

    Announcements appeared to slow down from May and June, but New York, North Carolina and New Mexico are among the states where cuts are taking place.

    By • Aug. 6, 2024
  • Two opaque beige cups and three clear cups with cola, all bearing the Berry Global logo.
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    Courtesy of Berry Global
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    Berry eyes $2B from ‘strategic divestitures’ within next year

    The company continues to hone its focus on consumer products as the deal to spin off its health, hygiene and specialties segment remains on track.

    By • Aug. 5, 2024
  • An array of beverage packaging made by Pactiv Evergreen
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    Retrieved from Pactiv Evergreen on March 01, 2024
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    Pactiv Evergreen plans more cuts after Q2 ‘fell short of our expectations’

    CEO Mike King detailed upcoming cost-cutting measures — including layoffs — following weaker-than-expected quarterly performance, due in large part to consumer spending dips and unanticipated plant downtime.

    By • Aug. 2, 2024