Finance
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Fiber markets move toward recovery from pandemic-era imbalances
Paper packaging and board demand is pulling up from a 3% dip last year, according to analysts from Fastmarkets RISI, Bank of America Global Research and Truist Securities. But pricing controversy remains.
By Katie Pyzyk • April 24, 2024 -
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PCA’s corrugated product shipments rise as demand rebounds
Demand in Q1 exceeded Packaging Corp. of America's expectations, said CEO Mark Kowlzan. Executives again expressed frustration with the impact of Fastmarkets RISI’s pricing index and noted the search for alternative methods.
By Katie Pyzyk • April 23, 2024 -
Permission granted by DS Smith
Acquisition of DS SmithInternational Paper-DS Smith deal faces few barriers following Mondi’s exit, analysts say
The companies don’t expect regulator pushback thanks to their complementary geographies. Although IP outlined efforts to prevent disruption to existing employees, 400 layoffs could result from the deal.
By Katie Pyzyk • April 22, 2024 -
Courtesy of Mondi Group Plc
Acquisition of DS SmithMondi ends bid for DS Smith following International Paper deal
Mondi’s announcement comes days after the boards of International Paper and DS Smith recommended that those two companies combine and days before a deadline to submit a potential counteroffer.
By Maria Rachal • April 19, 2024 -
Rost-9D via Getty Images
Acquisition of DS Smith
International Paper announces all-share agreement to acquire DS Smith, valued at $7.2B
The deal bests a preliminary purchase proposal from rival Mondi. It comes one week before a deadline to submit formal offers for acquiring the London-based paper packaging company.
By Katie Pyzyk • April 16, 2024 -
Permission granted by Myplas
Eviction threat looms as film recycler Myplas accrues $1.3M in unpaid bills
Unexpected financial challenges occurred shortly after the company launched its highly anticipated Minnesota polyethylene film recycling operation in December, according to Peter Shippen, Myplas board chair.
By Katie Pyzyk • Updated April 15, 2024 -
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Q&AIs hemp the next revolution for sustainable packaging? Startup element6 Dynamics thinks so.
CEO Kimberly Kovacs details the company’s push to use industrial hemp for making paper and packaging, which she says is a more sustainable option than tree pulp.
By Katie Pyzyk • April 8, 2024 -
Courtesy of O-I Glass
O-I Glass names new CEO as longtime leader prepares to retire
Gordon Hardie, a board member, will take over in mid-May as Andres Lopez plans to retire after nearly 40 years with the company.
By Katie Pyzyk • April 4, 2024 -
Permission granted by DS Smith
Acquisition of DS Smith
DS Smith extends Mondi’s offer deadline, IP details its counterproposal
The bidding war for DS Smith heats up as Mondi’s offer deadline is now set for the same day as International Paper’s. IP provided additional specifics about its proposal, including plans to create a second headquarters.
By Katie Pyzyk • April 4, 2024 -
Retrieved from ND Paper on April 02, 2024
ND Paper, Opus, Jindal among March plant shutdown announcements
More than 300 employees are expected to be affected by temporary or permanent shutdowns in Georgia, Maine, Michigan and Wisconsin.
By Katie Pyzyk • April 2, 2024 -
Lisa Beeby via Getty Images
Acquisition of DS SmithBidding war speculation brews as International Paper proposes DS Smith acquisition
IP’s more than $7 billion proposal comes as next week’s deadline approaches for Mondi to make a formal offer for DS Smith.
By Katie Pyzyk • March 27, 2024 -
Permission granted by Emerald Packaging
Emerald bullish on PCR as produce packaging company marks transition
Co-owner Jim Kelly is stepping down from his EVP role as he reflects on decades of innovation in the produce market. The family business looks to forge ahead on recycled content implementation in flexible packaging.
By Maria Rachal • March 26, 2024 -
Retrieved from Nasdaq.
Bioplastics player Verde Bioresins terminates SPAC deal
The California-based company, which sells a “PolyEarthylene” alternative to virgin plastics, sought to scale up production more quickly by going public. The deal was called off this month after multiple delays.
By Cole Rosengren • March 21, 2024 -
Permission granted by Amcor
Amcor CEO retiring due to health reasons
The company’s chief commercial officer will serve as interim CEO during the search for Ron Delia’s permanent replacement.
By Katie Pyzyk • March 20, 2024 -
Courtesy of International Paper/Cision
International Paper names Andrew Silvernail as next CEO
Silvernail will take over in May for Mark Sutton, who is stepping down after four decades with the company.
By Katie Pyzyk • Updated March 19, 2024 -
Konoplytska via Getty Images
As You Sow stays the course with plastic reduction resolutions despite ESG headwinds
“I think this is a really difficult year for shareholder resolutions,” said Kelly McBee, circular economy manager at As You Sow. To date, its 2024 consumer packaging efforts target Altria, Amazon and others.
By Maria Rachal • March 13, 2024 -
Courtesy of Mondi Group Plc
Acquisition of DS Smith
Mondi’s offer to buy DS Smith moving forward, not yet final
The companies are now working to quantify “synergies” they expect from the combination. Each recently reported headwinds coming out of 2023.
By Maria Rachal • March 7, 2024 -
Courtesy of O-I Glass
Longtime O-I Glass CEO Andres Lopez to retire
Lopez first joined the company in 1986 and moved up through multiple roles to become CEO in 2016.
By Maria Rachal • March 6, 2024 -
Nikola Milosevic via Getty Images
Greif navigates ongoing slow demand, delayed recognition of price increases
The company touted multiple acquisitions and a partnership to improve jerrycan recyclability. Those were bright spots in an otherwise challenging environment.
By Maria Rachal • March 4, 2024 -
SafakOguz via Getty Images
Paper packaging facilities impacted in February shutdown announcements
Tetra Pak, Domtar, Stora Enso and Cascades were some of the companies that disclosed closures, layoffs or idling, citing shifts in demand and restructuring plans. Plastic packaging makers also announced changes.
By Maria Rachal • Updated March 8, 2024 -
Retrieved from Pactiv Evergreen on March 01, 2024
Pactiv Evergreen restructuring to affect 10% of company’s footprint
The changes will be spread across its manufacturing and warehousing footprint over the next few years. The company also reported lower revenues and sales volumes for Q4.
By Katie Pyzyk • March 1, 2024 -
Courtesy of SEE
SEE advances restructuring as it searches for new CEO
The interim co-CEOs discussed expected cost savings as SEE closes multiple locations. The company formerly known as Sealed Air is also revamping commercial teams, integrating Liquibox and looking beyond destocking.
By Maria Rachal • Feb. 28, 2024 -
Courtesy of Sonoco
Sonoco eyes selling off more businesses, touts Flex-Therm integration
At an investor day, executives discussed simplifying Sonoco’s business structure, its divestiture strategy, brand partnerships and the path forward for metal packaging.
By Katie Pyzyk , Maria Rachal • Feb. 26, 2024 -
Courtesy of Cascades
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 Katie Pyzyk • Feb. 23, 2024 -
LordRunar via Getty Images
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 Maria Rachal • Feb. 23, 2024
