WestRock sees start of volume turnaround during ‘unprecedented year’ of declines

Following this week’s announcement of the Tacoma, Washington, mill closure, executives further detailed the ongoing footprint optimization plan intended to improve profitability.

By Katie Pyzyk • Aug. 3, 2023

O-I Glass looks ahead to 2024 expansions amid ‘choppy’ destocking

Q2 results exceeded expectations, executives said, despite lower consumer demand and destocking trends dampening sales volumes.

By Maria Rachal • Aug. 3, 2023

Sonoco’s net sales fell 11% in Q2 amid ‘turbulent’ market conditions

The company pointed to “accelerated inventory reduction programs” at top customers in food and aerosols, which resulted in lower-than-expected demand. At the same time, it saw “record results” in flexible packaging.

By Maria Rachal • Aug. 2, 2023

Graphic Packaging to enter fiber mailer space via acquisition

The foray into the e-commerce mailers comes as more customers request flexible fiber packaging solutions as they transition away from plastic.

By Katie Pyzyk • Aug. 2, 2023

Constantia Flexibles to be sold in 1.1B-euro deal

The world’s third-largest producer of flexible packaging is slated for a new private equity owner after more than eight years and nearly a dozen acquisitions of its own.

By Maria Rachal • July 31, 2023

Packaging industry trends that shaped Q2 earnings

Amcor, Berry, Ball, WestRock, O-I, Sonoco, Graphic Packaging, Ardagh, International Paper, Silgan, Crown and Packaging Corp. of America shared insights into the status of destocking, consumer demand and other trends.

By Packaging Dive Staff • Updated Aug. 17, 2023

Beer controversy exacerbates 16% drag in Ardagh’s North American glass shipments

Amid a sharp dropoff in U.S. beer demand, the company pulled forward plant closures in North Carolina and Louisiana as it pursues a 15% net reduction in North American glass capacity.

By Maria Rachal • July 28, 2023

International Paper says destocking is impacting box volumes unevenly

Early Q3 volumes are starting to tick up, which executives expect to continue through the year.

By Katie Pyzyk • July 27, 2023

Silgan CEO ‘very disappointed’ after Q2, lowers guidance amid demand shift

The consumer goods packaging company said it’s past pandemic-era destocking but a new wave of inventory issues has emerged. It will begin “rightsizing” its footprint to adjust to customers’ 2023 expectations.

By Maria Rachal • July 27, 2023

Sticky destocking, demand issues drag down PCA’s earnings

Packaging Corp. of America had predicted that destocking largely would wind down in Q2, but the trend continues to some degree.

By Katie Pyzyk • July 26, 2023

Crown sales fell 11% in Q2 amid varied consumer spending trends

Inflation, promotional activity and other factors impacted different markets. The can manufacturer anticipates new capacity will come online in the U.S. and the U.K. next month.

By Maria Rachal • July 26, 2023

Confidence wanes about Q2 packaging earnings improvements

Despite easing inflationary pressure, weak demand and destocking continue to impact producers’ volumes, analysts said. One of the first packaging producers to report earnings this cycle saw sales decline 22% year over year.

By Katie Pyzyk • July 24, 2023

Cascades Specialty Products names new president

Jérôme Porlier has held various tissue and packaging sector roles since joining Cascades in 2012. He takes over for Luc Langevin, who held the president position since 2011.

By Katie Pyzyk • July 21, 2023

Destocking trend lingers, June data suggests

Labor data and purchasing managers’ index readings shed new light on the state of manufacturing and inventories, as economists and analysts weigh in.

By Maria Rachal • July 13, 2023

Coca-Cola targets sustainable packaging innovations with $137.7M venture fund

The company expects the investments, managed by Greycroft, will provide greater access to emerging technologies to boost sustainability and reduce carbon emissions as 2025 and 2030 goals loom.

By Katie Pyzyk • July 13, 2023

DS Smith anticipates improved box volumes following dip that dragged down financial results

The U.K.-based packaging company is investing heavily in innovation, especially to help customers replace plastic products with fiber.

By Katie Pyzyk • June 26, 2023

Stora Enso to lay off 1,150 employees amid restructuring

The Finland-based fiber and forestry company is making changes at facilities in multiple countries to boost profitability and competitiveness after signaling financial trouble for months.

By Katie Pyzyk • June 15, 2023

Data from CPI, Fed and cardboard box sales may signal slowing economy

A broadening “cardboard box recession” could be a harbinger of a wider global recession. 

By Katie Pyzyk • Updated June 15, 2023

Destocking is out, higher-priced ‘urgent orders’ are in, Greif CEO says

Although the company’s numbers were down year over year, executives reiterated that this Q2 was the second-strongest in company history. They also discussed initial results from recent acquisitions.

By Katie Pyzyk • June 14, 2023

Avery Dennison announces new CEO and current leader’s retirement

Deon Stander, currently president and chief operating officer, will take over as CEO later this year.

By Katie Pyzyk • May 24, 2023

Packaging manufacturing investments and expansions in 2023

Amid an industry theme of pullbacks in production, companies including Smurfit Kappa, PulPac and Berry Global have all recently shared expansion updates.

By Maria Rachal • May 16, 2023

US inflation again eased in April

The plastics manufacturing workforce saw a little growth last month, while paper manufacturing’s workforce declined.

By Maria Rachal • May 12, 2023

Amazon, Yum Brands, Kroger face upcoming shareholder votes on circular packaging

Yum Brands — the fast-food corporation behind KFC, Pizza Hut and Taco Bell — is set to consider a proposal Thursday on single-use packaging, with meetings at Amazon and Restaurant Brands International to follow next week.

By Maria Rachal • May 10, 2023

Pactiv Evergreen gives updates on restructuring and shifting consumer spending

CEO Michael King said the company is adapting to tighter consumer spending and gave an estimated June date for previously announced facility closures in Arkansas and North Carolina.

By Katie Pyzyk • May 10, 2023

Destocking effects linger for packaging manufacturers

Q1 and April inventory trends — and what they might mean for the second half of the year —  were discussed by paper, glass, metal and plastic packaging executives in recent earnings calls.

By Katie Pyzyk , Maria Rachal • May 9, 2023