Finance


  • Stora Enso replaces CEO amid restructuring

    The announcement comes as the Finnish packaging company carries out closures and layoffs. "I look forward to working together with my new colleagues in leading our profit turn-around,” said new CEO Hans Sohlström.

    By Sept. 19, 2023
  • Flag for the Ilim Group, a major player in the Russian paper industry that recently acquired International Paper's remaining stake in the business
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    Courtesy of Ilim Group
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    International Paper exits Russian joint venture with $508M sale

    IP divested its stake in the Ilim Group, which was formed in 2007 and describes itself as “the leader of the Russian pulp and paper industry.” It's the latest in a wave of companies looking to exit business in Russia.

    By Sept. 18, 2023
  • Aerial view of a Smurfit Kappa corrugated production facility in Poland
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    Courtesy of Smurfit Kappa
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    Smurfit WestRock: The transaction creating a global packaging giant

    The pending combination of Smurfit Kappa and WestRock is expected to make the world’s largest publicly traded packaging company. Follow Packaging Dive’s ongoing coverage as the transaction moves toward completion in 2024.

    By Packaging Dive Staff • Sept. 12, 2023
  • Aerial view of WestRock's headquarters in Atlanta, Georgia
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    Permission granted by WestRock
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    Smurfit WestRock transaction

    Smurfit Kappa finalizes plan to acquire WestRock in 2024

    CEOs Tony Smurfit and David Sewell outlined their vision for a leading global packaging company and discussed the outlook for possible divestitures on Tuesday.

    By , Sept. 12, 2023
  • Close up view of stacked corrugated cardboard.
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    Mikola249 via Getty Images
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    Smurfit WestRock transaction

    Smurfit Kappa and WestRock deal not expected to face major barriers, analysts say

    The geographical diversity in the two companies’ assets could reduce competition concerns in what could become the largest containerboard company in the world.

    By Sept. 11, 2023
  • Five paperboard mailer envelopes with various designs on the front.
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    Retrieved from Bell Incorporated on August 01, 2023
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    Graphic Packaging closes $262.5M acquisition of folding carton company Bell

    The deal, which includes three U.S. converting facilities, grows Graphic’s presence in food service packaging and offers an expansion opportunity into the mailer business.

    By Sept. 11, 2023
  • Stacks of cardboard boxes in a logistics center
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    Rost-9D via Getty Images
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    Smurfit WestRock transaction

    Smurfit Kappa, WestRock in advanced talks to merge

    If finalized, Smurfit WestRock would bring together American and European paper packaging giants whose combined annual revenue this past year would have totaled approximately $34 billion, the companies said.

    By Sept. 7, 2023
  • International Paper's new logo.
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    Courtesy of International Paper/Cision
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    International Paper CEO Mark Sutton to step down, triggering succession plan

    Sutton has been with the company his entire career, nearly four decades, and will remain in his role until International Paper finds a successor.

    By Sept. 7, 2023
  • Exterior view of a paper and pulp mill at twilight.
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    Courtesy of Domtar
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    Domtar to ‘indefinitely’ idle Ontario mill, affecting 450 jobs

    After years of operating losses at the Ontario mill, the paper and pulp company couldn’t find a way to keep it open, such as through a site sale, it said.

    By Updated Sept. 8, 2023
  • Illinois state flag blows in the wind
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    rarrarorro via Getty Images
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    Berry, Menasha Packaging, Solo Cup plan Illinois layoffs

    Companies cited business slowdowns, restructuring and site transformation as reasons for cuts that will impact hundreds of jobs.

    By Sept. 6, 2023
  • Cardboard partitions
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    Yulcha via Getty Images
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    Greif executives discuss downtime at mills, signs of industrial recession

    The industrial packaging and paper company also announced it’s acquired a majority interest in ColePak, which it described as the second-leading supplier of bulk and specialty partitions in North America.

    By Aug. 31, 2023
  • The WestRock corrugated manufacturing facility in Columbus, Indiana.
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    Retrieved from Google Maps on August 30, 2023
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    WestRock to close two plants in October

    The Indiana corrugated sheet plant and Pennsylvania folding carton plant closures bring the company’s 2023 layoff total to more than 1,000 employees.

    By Updated Sept. 1, 2023
  • Person handling a roll of paper at an Ahlstrom manufacturing facility
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    Loic Mazalrey - Copyright © Ahlstrom

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    PFAS class action suit alleges Ahlstrom paper mill contaminated Wisconsin farms

    Ahlstrom is accused of spreading PFAS-contaminated sludge on Wisconsin farmland. But the company says it didn’t own the mill at the time in question.

    By Aug. 21, 2023
  • Amcor logo
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    Permission granted by Amcor
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    Amcor talks inflation, destocking, demand challenges in full-year report

    M&A is also on Amcor executives’ minds as they continue to operate in a lower-demand environment, according to commentary during a full fiscal year earnings report Wednesday.

    By Aug. 17, 2023
  • Berry Global's headquarters in Evansville, Indiana.
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    Permission granted by Berry Global
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    Berry Global names new CEO

    Multi-Color Corp. President and CEO Kevin Kwilinski will replace Berry CEO Tom Salmon, who announced his planned retirement earlier this year.

    By Aug. 15, 2023
  • Stacks of cardboard boxes in a logistics center
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    Rost-9D via Getty Images
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    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 Aug. 14, 2023
  • Berry Global's headquarters in Evansville, Indiana.
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    Permission granted by Berry Global
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    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 Aug. 10, 2023
  • The new logo for SEE, the rebrand of Sealed Air.
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    Courtesy of SEE
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    SEE announces restructuring following brand revamp

    The company formerly known as Sealed Air also recently said it’s working with ExxonMobil on an “advanced recycling” initiative for food-grade plastics.

    By Aug. 9, 2023
  • Heavy-duty trucks with the Veritiv logo in front of a warehouse.
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    Retrieved from Veritiv Corp. on August 07, 2023
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    Veritiv to be acquired in $2.3B private equity deal

    Almost a decade after Veritiv was formed through a merger, the public company is slated to become private via a deal with an affiliate of a major firm.

    By Aug. 7, 2023
  • Ball cans
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    Permission granted by Ball
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    Ball says Q2 volumes declined due to US beer controversy, Russia divestment

    Global beverage volumes fell 11% in Q2, said CEO Dan Fisher. The company offered few updates on a possible sale of its aerospace business.

    By Aug. 4, 2023
  • Corrugated linerboard on a production line
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    agnormark via Getty Images
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    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 Aug. 3, 2023
  • O-I Glass global headquarters.
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    Courtesy of O-I Glass
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    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 Aug. 3, 2023
  • Different containers of canned food
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    OlenaMykhaylova via Getty Images
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    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 Aug. 2, 2023
  • Five paperboard mailer envelopes with various designs on the front.
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    Retrieved from Bell Incorporated on August 01, 2023
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    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 Aug. 2, 2023
  • Constantia Flexibles logo
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    Courtesy of Constantia Flexibles
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    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 July 31, 2023