Finance: Page 5

  • Heavy-duty trucks with the Veritiv logo in front of a warehouse.
    Image attribution tooltip
    Retrieved from Veritiv Corp. on August 07, 2023
    Image attribution tooltip

    Veritiv completes acquisition of Orora Packaging Solutions

    The transaction is meant to enhance private equity-backed Veritiv’s specialty packaging distribution capabilities, while Orora and its thousands of employees will transition to a dedicated beverage packaging business.

    By • Updated Dec. 12, 2024
  • Cardboard boxes displaying UFP Packaging's logo are bundled together on a pallet and covered with plastic wrap.
    Image attribution tooltip
    Katie Pyzyk/Packaging Dive
    Image attribution tooltip

    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.
    Image attribution tooltip
    Retrieved from Fortis Solutions Group on September 03, 2024
    Image attribution tooltip

    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.
    Image attribution tooltip
    Courtesy of Greif
    Image attribution tooltip

    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.
    Image attribution tooltip
    Retrieved from Pretium Packaging on August 27, 2024
    Image attribution tooltip

    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.
    Image attribution tooltip
    Retrieved from International Paper on August 27, 2024
    Image attribution tooltip

    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"
    Image attribution tooltip
    Courtesy of Amcor
    Image attribution tooltip

    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
    Image attribution tooltip
    Courtesy of Cascades
    Image attribution tooltip

    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.
    Image attribution tooltip
    Katie Pyzyk/Packaging Dive
    Image attribution tooltip

    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.
    Image attribution tooltip
    Mario Tama via Getty Images
    Image attribution tooltip

    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.
    Image attribution tooltip
    The image by Ken Lund is licensed under CC BY-SA 2.0
    Image attribution tooltip

    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
    Image attribution tooltip
    Courtesy of Placon
    Image attribution tooltip

    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.
    Image attribution tooltip
    Courtesy of Berry Global
    Image attribution tooltip

    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
    Image attribution tooltip
    Retrieved from Pactiv Evergreen on March 01, 2024
    Image attribution tooltip

    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
  • A lineup of metal cans and aerosol packaging
    Image attribution tooltip
    Retrieved from Sonoco on June 24, 2024
    Image attribution tooltip

    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
    Image attribution tooltip
    Mark Wilson via Getty Images
    Image attribution tooltip
    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
    Image attribution tooltip
    Courtesy of Smurfit WestRock
    Image attribution tooltip

    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.
    Image attribution tooltip
    Courtesy of O-I Glass
    Image attribution tooltip

    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.
    Image attribution tooltip
    Courtesy of Graphic Packaging International
    Image attribution tooltip

    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
    Image attribution tooltip
    Drazen Zigic via Getty Images
    Image attribution tooltip

    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.
    Image attribution tooltip
    Retrieved from Packaging Corporation of America on July 25, 2024
    Image attribution tooltip

    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.
    Image attribution tooltip
    SafakOguz via Getty Images
    Image attribution tooltip

    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
    Image attribution tooltip
    sulhanul khoir via Getty Images
    Image attribution tooltip

    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
    Image attribution tooltip
    Fahroni via Getty Images
    Image attribution tooltip

    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.
    Image attribution tooltip
    Retrieved from Clearwater Paper Corp. on July 22, 2024
    Image attribution tooltip

    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