Inventory outlook: What packaging suppliers predict for rest of 2023

Customers’ inventory management dominated numerous recent earnings call discussions, with footprint optimization being another prominent theme among some packaging manufacturers.

By Maria Rachal • Aug. 14, 2023

Berry closed 20 facilities last quarter to optimize footprint

Executives offered few details about the closures, which are part of a cost-cutting initiative. As destocking and inflation ease, investments in innovation and sustainability provide a “competitive advantage,” said CEO Tom Salmon.

By Katie Pyzyk • Aug. 10, 2023

Origin Materials introduces PET bottle cap intended to boost recyclability

While Origin’s CEO notes the company isn’t the first to produce a PET cap, he said “we're processing the material differently” and the items could be made from the company’s biomass-based material.

By Katie Pyzyk • Aug. 9, 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

WestRock to permanently close Tacoma, Washington, paper mill, affecting 400 employees

It’s the latest in a string of 2023 announcements by the packaging company regarding shutdowns around the U.S. as it says it’s “working to optimize” its operational footprint.

By Katie Pyzyk • Aug. 1, 2023

Paper, plastic packaging manufacturers announced layoffs in July

While shutting down facilities in California, Missouri, South Carolina and elsewhere, multiple companies cited ongoing footprint optimization processes.

By Maria Rachal • Aug. 1, 2023

Kraft Heinz looks to transform plastic packaging portfolio

The food and beverage giant is now trying to cut virgin plastic use 20% by 2030. U.S. consumers can expect to buy certain mayo products in packaging made entirely from recycled content starting next year.

By Maria Rachal • July 31, 2023

Scale up or down, without tipping the scales

Today’s industries face a truly unique set of challenges. An increasing need to increase sustainability and efficiency, constant staffing issues, and expansion without experiencing hiccups from partners and suppliers.

July 31, 2023

Packaging innovations: Pringles, Heinz, Peet’s make material changes

Graphic Packaging International, Berry Global, Ardagh, Corning and others provided new or redesigned packages for brands’ food, beverage and medical products.

By Katie Pyzyk • July 28, 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

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

Move over, glass: Amcor’s new wine bottle is 100% recycled PET

The rPET wine bottle is approximately 10 times lighter than conventional glass versions, and it results in lower CO2 output during production and transportation, according to an Amcor marketing manager.

By Katie Pyzyk • Updated 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

O-I Glass’ Drinktainer gains market availability 2 years after launch thanks to co-packing agreement

F.X. Matt Brewing Co., parent company of beer brands such as Saranac, will install a bottling line specifically for the unique glass container and offer co-packing to other brands. 

By Katie Pyzyk • July 21, 2023

Nova Chemicals, Novolex collaborate on facility for making PE from mechanically recycled film

The plant will deliver 100 million pounds of recycled polyethylene annually when it reaches full capacity, which Nova expects to occur in 2025.

By Katie Pyzyk • July 19, 2023

WestRock facility consolidation continues with plans to close St. Louis location

The latest announcement adds to hundreds of layoffs planned this year, including at sites in South Carolina, Georgia and Maryland.

By Maria Rachal • July 17, 2023

Packaging innovations: Matrix Pack, Fieldless, Dr. Bronner’s make a switch to fiber

Charter Next Generation, Pixelle Specialty Solutions and others announced product launches and redesigns to improve sustainability.

By Katie Pyzyk • July 14, 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

Greif to close fiber tube and core manufacturing site in South Carolina

The closure of the Rock Hill facility is part of the Ohio-based industrial packaging supplier’s “network optimization process,” according to a spokesperson.

By Maria Rachal • July 12, 2023