Finance: Page 3

  • A lineup of metal cans and aerosol packaging
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    Retrieved from Sonoco on June 24, 2024
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    Sonoco plans more divestitures under portfolio simplification strategy

    While second-quarter volume levels increased over last year’s depressed state, “it's certainly not a robust recovery,” said CFO Rob Dillard.

    By • Aug. 1, 2024
  • Close-up view of a row of $100 bills
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    Mark Wilson via Getty Images
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    Deep Dive

    How much did packaging CEOs make in 2023?

    The packaging industry’s largest manufacturers have a wave of new CEOs beginning this year. Here’s a look at how compensation has trended for packaging leaders — and their employees — in recent years.

    By , , • Aug. 1, 2024
  • Exterior view of a manufacturing facility with the Smurfit WestRock logo
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    Courtesy of Smurfit WestRock
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    Smurfit Westrock executives detail which legacy business segments are under evaluation

    The integration will take time. Executives from the legacy business of Ireland-based Smurfit Kappa “can't just come over and sprinkle some dust ... and everybody is going to change their way,” said Smurfit Westrock CFO Ken Bowles.

    By • July 31, 2024
  • O-I Glass quality inspection.
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    Courtesy of O-I Glass
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    O-I’s new CEO is promising change. Analysts are skeptical.

    Gordon Hardie previewed upcoming furnace closures and plans to decentralize the glass packaging company’s business model. O-I is also doubling its rate of capacity curtailment in 2024 to 15%.

    By • July 31, 2024
  • Paper containers with a film sealed cover hold pieces of fried chicken.
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    Courtesy of Graphic Packaging International
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    Graphic Packaging expects impact from McDonald’s extending value meal offers

    The company foresees a “quite unusual” level of growth in the second half of the year. GPI also detailed expected impacts from two upcoming facility closures during a second-quarter earnings call on Tuesday.

    By • July 30, 2024
  • Hands carry a cardboard box with other workers blurred in the background
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    Drazen Zigic via Getty Images
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    Packaging companies delve into Q2 results

    Catch up on insights from executives at SEE, Berry Global, Pactiv Evergreen, Sonoco and more.

    By Packaging Dive Staff • Updated Aug. 13, 2024
  • A variety of different corrugated boxes for shipping products.
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    Retrieved from Packaging Corporation of America on July 25, 2024
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    PCA to build new box plant in Phoenix area

    Packaging Corporation of America’s expansion comes as the company nearly set a Q2 record for corrugated shipments per day.

    By • July 25, 2024
  • Close-up view of flat, stacked corrugated boxes.
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    SafakOguz via Getty Images
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    New International Paper CEO details recovery plan after ‘totally unacceptable’ results

    CEO Andrew Silvernail came into the ring punching during his first earnings call since taking the role in May. The team is “tired of getting their butt kicked” due to historic underinvestment in capital expenditures and maintenance, he said.

    By • Updated Oct. 31, 2024
  • Clear-colored roll-on deodorant on a table
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    sulhanul khoir via Getty Images
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    Silgan completes acquisition of Weener Plastics

    Weener Plastics is Silgan’s latest major purchase in recent years to grow its dispensing and specialty closures division.

    By • Updated Oct. 15, 2024
  • A person works on an assembly line to fill metal food packaging cans
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    Fahroni via Getty Images
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    Crown expects $300M in proceeds from Eviosys deal

    Crown Holdings CEO Tim Donahue detailed how the canmaker intends to spend it.

    By • July 23, 2024
  • Rolls of toilet paper proceed along a manufacturing line.
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    Retrieved from Clearwater Paper Corp. on July 22, 2024
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    Clearwater closes $1B sale of tissue business to Sofidel

    Washington-based Clearwater is narrowing its focus on paperboard, removing four U.S. tissue production facilities from its footprint after purchasing a bleached paperboard manufacturing plant in Georgia.

    By • Updated Nov. 1, 2024
  • Russian President Vladimir Putin speaking at a podium with a microphone.
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    Omer Messinger via Getty Images
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    Russian government takes over management control at 2 Silgan facilities

    Although operations ceased last year at the two metal packaging facilities, Silgan did not divest the assets. The Russian government says it will now make management decisions on a “temporary” basis.

    By • July 16, 2024
  • stacks of brown paper cups in a row in a coffeeshop setting
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    dmf87 via Getty Images
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    Pactiv Evergreen divests 2 facilities to Suzano for $110M

    The sale of sites in Arkansas and North Carolina is the culmination of a strategic review by Pactiv as the company also restructures its beverage and food merchandising businesses and explores footprint optimization.

    By • Updated Oct. 1, 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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    Deep Dive

    2024 packaging M&A trends: Megadeals are in, destocking hangover is out

    Despite several high-profile megadeals between large packaging companies in recent months, small companies make up more volume than meets the eye, according to analysts. And international transactions are gaining prominence. 

    By • July 10, 2024
  • A group of people stand on a balcony to ring the opening bell at the New York Stock Exchange, with the Smurfit WestRock logo in the background.
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    Retrieved from New York Stock Exchange on July 08, 2024
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    Smurfit WestRock transaction

    Smurfit Kappa completes acquisition of WestRock

    “Smurfit Westrock is going to conquer the world of sustainable, paper-based packaging,” said CEO Tony Smurfit before ringing the NYSE’s opening bell.

    By • Updated July 8, 2024
  • Close-up of brown corrugated packaging
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    Lisa Beeby via Getty Images
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    2024’s biggest packaging acquisition news

    The year has seen a flurry of news and rumors about major transactions involving International Paper, DS Smith, Berry Global, Sonoco, WestRock, Smurfit Kappa and more.

    By Packaging Dive Staff • July 5, 2024
  • Four people wearing hardhats use shovels to throw dirt at a groundbreaking ceremony.
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    Katie Pyzyk/Packaging Dive
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    Q&A

    Departing WestRock CEO Sewell reflects on his tenure and company’s future

    In an interview, David Sewell discussed fiber pricing trends, infrastructure investment strategies, the importance of innovation and highlights from his time at the helm of WestRock, which comes to an end July 5.

    By • July 2, 2024
  • Aerial shot of Suzano production site in Brazil
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    Courtesy of Suzano
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    Acquisition of DS Smith

    Suzano ends negotiation for acquisition of International Paper

    Suzano’s previous interest added another layer of complexity to a planned deal between International Paper and DS Smith, which followed Mondi’s attempt to purchase DS Smith.

    By • June 27, 2024
  • Empty beer bottles
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    Daniele Mezzadri via Getty Images
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    Ardagh Glass closing Houston facility with 220 workers, citing ‘beer market conditions’

    Also in July the company will be indefinitely curtailing production at a Seattle site servicing wine customers, impacting another 244 employees. Ardagh detailed ongoing challenges in both the beer and wine markets.

    By , • June 25, 2024
  • A person works on an assembly line to fill metal food packaging cans
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    Fahroni via Getty Images
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    Sonoco acquiring Eviosys for $3.9B in move to prioritize metal packaging

    Acquiring the European company from investment firm KPS aligns with Sonoco’s strategy to make metal packaging a core business unit. The acquisition will be accompanied by “significant divestitures.”

    By • Updated June 24, 2024
  • Six plastic water bottles bundled with a fiber band.
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    Permission granted by DS Smith
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    DS Smith acquisition ‘remains fully on track’ for Q4 closing, CEO says

    The prospectus for International Paper’s acquisition should be released in late summer, said DS Smith CEO Miles Roberts on Thursday’s earnings call. Meanwhile, substrate switches from plastic to fiber are driving up demand.

    By • June 20, 2024
  • The new logo for SEE, the rebrand of Sealed Air.
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    Courtesy of SEE
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    SEE appoints WestRock executive as CEO

    Patrick Kivits, who has been with WestRock for five years, was slated to keep his position upon that company’s combination with Smurfit Kappa in July. Instead, he’ll start the month leading SEE.

    By • June 14, 2024
  • Aerial view of WestRock's headquarters in Atlanta, Georgia
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    Permission granted by WestRock
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    Smurfit WestRock transaction

    WestRock, Smurfit Kappa shareholders vote to approve combination

    Recently released documents reveal when executives expect the deal to close and just how long the transaction has been in the works.

    By • June 13, 2024
  • A worker operates a forklift in an industrial warehouse, surrounded by large rolls of a fiber product.
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    Retrieved from Greif on June 11, 2024
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    North America’s 2 largest URB producers to raise prices

    Greif and Sonoco’s recent announcements about increases for uncoated recycled board are the latest in a string of fiber price hikes this year. They may not be the last.

    By • June 12, 2024
  • A person speaks at a conference from behind a white podium.
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    Katie Pyzyk/Packaging Dive
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    Alison Keane to leave Flexible Packaging Association this summer

    After more than seven years of pushing for industry improvements such as better plastic film recycling infrastructure, the president and CEO will join a recycling organization.

    By • June 10, 2024