Finance


  • Workers celebrate at Cascades Containerboard Packaging plant in Bear Island, Virginia
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    Courtesy of Cascades
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    Cascades optimistic about contributions from new Virginia plant amid other closures

    While Cascades’ sales ticked up in 2023 as a whole, Q4 dragged down results. The company continues to prioritize production at Bear Island, Virginia, and other more modern facilities. 

    By Feb. 23, 2024
  • The tops of silver tabbed beverage cans
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    LordRunar via Getty Images
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    Ardagh Metal Packaging shipment volumes grew 5% in 2023

    The business was hit by end-of-year customer destocking, particularly in Europe, while sales in the Americas showed continued strength.

    By Feb. 23, 2024
  • The new logo for SEE, the rebrand of Sealed Air.
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    Courtesy of SEE
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    SEE workers in New Jersey face layoffs

    The changes in New Jersey follow last year’s company rebrand, CEO change and restructuring program launch.

    By Feb. 22, 2024
  • Nine types of colorful fiber-based packages, made by Graphic Packaging International, for food, candy and snacks.
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    Katie Pyzyk/Packaging Dive
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    Graphic Packaging touts consumer packaging growth, announces $700M paperboard plant sale

    GPI executives highlighted innovation’s role in the company’s growth and its shift toward consumer packaging during an investor day event.

    By Feb. 22, 2024
  • Corrugated linerboard on a production line
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    agnormark via Getty Images
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    Confusion abounds over whether markets are accepting fiber price hikes

    In the second month since the fiber price hikes were supposed to take effect, markets still aren’t reflecting the full increases that companies announced and packaging executives are questioning a key pricing index.

    By Updated Feb. 21, 2024
  • Three people in full-coverage protective suits push a piece of aerospace equipment.
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    Courtesy of Ball Aerospace
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    Ball closes $5.6B sale of aerospace business and now is focused exclusively on packaging

    Most of the $4.5 billion in proceeds will be split between debt reduction and returns to shareholders, with the remainder boosting Ball’s balance sheet.

    By Feb. 16, 2024
  • A can of Pringles potato chips in a new paper-based container.
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    Courtesy of Kellogg's
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    Sonoco says paper Pringles can sales are one signal of volume recovery

    Consumer products customers are returning to normal pricing following destocking, said executives on Sonoco’s Q4 and full-year 2023 earnings call. But consumer spending shifts continue amid inflation pressure.

    By Feb. 15, 2024
  • An aerial view of Arglass' manufacturing facility in Valdosta, Georgia.
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    Permission granted by Arglass
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    Arglass envisions ‘maximum flexibility’ Georgia production site

    The U.S. packaging manufacturer says a forthcoming furnace could make 350 million glass containers per year. The ability for smaller production runs could make it resilient to market trends and more approachable for customers.

    By Feb. 15, 2024
  • Close-up of brown corrugated packaging
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    Lisa Beeby via Getty Images
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    Cascades to close 3 containerboard facilities, affecting 310 workers

    The company plans to shift production from sites in the U.S. and Canada to newer facilities, following other closures in Oregon and South Carolina last year. It will assist laid-off employees with finding new jobs.

    By Feb. 13, 2024
  • O-I Glass quality inspection.
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    Courtesy of O-I Glass
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    O-I Glass says demand in beer and food is recovering, destocking lingers for wine and spirits

    The year ended with shipments down 16% in Q4. Sales were hurt by customer destocking, which CEO Andres Lopez said began later than in other categories, giving O-I hope to mirror recovery trends in other parts of the industry.

    By Feb. 9, 2024
  • Stacks of cardboard boxes in a logistics center
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    Rost-9D via Getty Images
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    Mondi explores creating European fiber packaging giant with DS Smith

    The possibility of a mega-merger comes five months after a similar deal between sector competitors Smurfit Kappa and WestRock.

    By Feb. 8, 2024
  • Amcor logo
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    Permission granted by Amcor
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    Destocking accelerated in recent quarter, Amcor says

    Amcor executives reported the destocking trend worsened despite other companies declaring it over. Executives also detailed 2,000 employee reductions in 2023.

    By Feb. 8, 2024
  • Smurfit Kappa flags
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    Courtesy of Smurfit Kappa
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    Smurfit Kappa predicts Summer Olympics will provide financial boost

    2024 demand and volumes have shown improvement following challenges to both in 2023, executives said on Wednesday’s earnings call. The WestRock acquisition also is progressing smoothly, they said.

    By Feb. 7, 2024
  • Berry Global's headquarters in Evansville, Indiana.
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    Permission granted by Berry Global
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    Berry to spin off health segment, creating new public company with Glatfelter

    Berry Global had been considering strategic alternatives for the Health, Hygiene & Specialties segment for months. The new company is valued at $3.6 billion.

    By Feb. 7, 2024
  • The tops of silver tabbed beverage cans
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    LordRunar via Getty Images
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    Crown touts beverage can growth in Americas as equipment sales stall

    CEO Tim Donahue described a positive outlook for the Americas Beverage and Transit Packaging divisions while also describing weak demand for aerosols and canmaking equipment. Crown closed five production facilities in Q4.

    By Feb. 6, 2024
  • paper tubes and cores
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    Nikola Milosevic via Getty Images
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    Sonoco to close facilities in Washington and Tennessee, affecting 117 workers

    The decisions will shutter an uncoated paperboard mill, part of Sonoco’s “ongoing strategy to optimize our mill network and lower operating costs,” as well as an ends and closures facility.

    By , Feb. 5, 2024
  • Flexible plastic packaging pouches
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    Romeo Gacad via Getty Images
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    Packaging manufacturers’ sales results in 2023

    See how major packaging companies including Amcor, Ball, Cascades, International Paper and Sonoco closed out the year, with more to come.

    By Packaging Dive Staff • Updated Feb. 23, 2024
  • Ball cans and bottles.
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    Permission granted by Ball Corporation
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    Ball looks to put Bud Light disruption behind it in 2024

    The company is also focused on optimizing its production capacity, as well as opportunities following the pending sale of its aerospace business, which will make it a pure-play aluminum packaging company.

    By Feb. 2, 2024
  • Stora Enso to lay off up to 1,000 employees under profit improvement program

    The company is launching the plan following “a historical low fourth quarter in 2023” and dim hopes for significant recovery in Q1. It recently completed a previous restructuring effort that resulted in 1,150 layoffs.

    By Feb. 1, 2024
  • Close up view of stacked corrugated cardboard.
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    Mikola249 via Getty Images
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    Smurfit Kappa-WestRock deal timing slightly delayed

    WestRock shared the update on the pending transaction in its fiscal Q1 financial release. During the quarter, paperboard market demand decreased, but external containerboard shipments grew, the company said.

    By Feb. 1, 2024
  • International Paper's new logo.
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    Courtesy of International Paper/Cision
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    International Paper prioritizes ‘value over volume’ in profitability strategy

    Executives on an earnings call discussed new price increases and expectations for improved demand over 2023's challenging environment.

    By Feb. 1, 2024
  • Blue and red spray bottle
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    Syriopro via Getty Images
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    Lingering destocking trends affect Silgan sales, but CEO projects 2024 recovery

    CEO Adam Greenlee also said during a Wednesday earnings call that consolidation of five manufacturing facilities will support a $50 million cost savings plan, 40% of which will be realized by the end of this year.

    By Feb. 1, 2024
  • A stacked of unassembled folding cartons.
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    Bohdan Bevz via Getty Images
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    Graphic Packaging, WestRock, Crown announced layoffs in January

    More than 700 jobs are expected to be impacted following multiple closure announcements this month, with North Carolina workers particularly affected.

    By Jan. 31, 2024
  • Close-up of a sheet of white expanded polystyrene foam
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    kot63 via Getty Images
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    Sonoco to divest protective solutions packaging business

    The company says the cash sale to an alternative asset management firm is part of its “portfolio optimization strategy.”

    By Jan. 30, 2024
  • Packaging Corporation of America logo on a building.
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    Kristoffer Tripplaar/Sipa/AP

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    Increasing demand buoys PCA’s earnings, but pricing questions distract from progress

    Packaging Corp. of America experienced demand that was “stronger than our expectations” in the fourth quarter of 2023, according to CEO Mark Kowlzan, which could signal longer-term recovery.

    By Jan. 25, 2024