Finance
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Courtesy of Suzano
Acquisition of DS SmithSuzano ends negotiation for acquisition of International Paper
Suzano’s previous interest added another layer of complexity to a planned deal between International Paper and DS Smith, which followed Mondi’s attempt to purchase DS Smith.
By Maria Rachal • June 27, 2024 -
Daniele Mezzadri via Getty Images
Ardagh Glass closing Houston facility with 220 workers, citing ‘beer market conditions’
Also in July the company will be indefinitely curtailing production at a Seattle site servicing wine customers, impacting another 244 employees. Ardagh detailed ongoing challenges in both the beer and wine markets.
By Katie Pyzyk , Maria Rachal • June 25, 2024 -
Fahroni via Getty Images
Sonoco acquiring Eviosys for $3.9B in move to prioritize metal packaging
Acquiring the European company from investment firm KPS aligns with Sonoco’s strategy to make metal packaging a core business unit. The acquisition will be accompanied by “significant divestitures.”
By Katie Pyzyk • Updated June 24, 2024 -
Permission granted by DS Smith
DS Smith acquisition ‘remains fully on track’ for Q4 closing, CEO says
The prospectus for International Paper’s acquisition should be released in late summer, said DS Smith CEO Miles Roberts on Thursday’s earnings call. Meanwhile, substrate switches from plastic to fiber are driving up demand.
By Katie Pyzyk • June 20, 2024 -
Courtesy of SEE
SEE appoints WestRock executive as CEO
Patrick Kivits, who has been with WestRock for five years, was slated to keep his position upon that company’s combination with Smurfit Kappa in July. Instead, he’ll start the month leading SEE.
By Katie Pyzyk • June 14, 2024 -
Permission granted by WestRock
Smurfit WestRock transactionWestRock, Smurfit Kappa shareholders vote to approve combination
Recently released documents reveal when executives expect the deal to close and just how long the transaction has been in the works.
By Katie Pyzyk • June 13, 2024 -
Retrieved from Greif on June 11, 2024
North America’s 2 largest URB producers to raise prices
Greif and Sonoco’s recent announcements about increases for uncoated recycled board are the latest in a string of fiber price hikes this year. They may not be the last.
By Katie Pyzyk • June 12, 2024 -
Katie Pyzyk/Serdar Akar
Alison Keane to leave Flexible Packaging Association this summer
After more than seven years of pushing for industry improvements such as better plastic film recycling infrastructure, the president and CEO will join a recycling organization.
By Katie Pyzyk • June 10, 2024 -
Foto-Video-Studio via Getty Images
Greif opens Dallas bulk corrugated facility, hikes URB prices again
The Ohio-based manufacturer said during a call Thursday detailing paper business trends that demand for its recycled paper products is on the rise. But it reported delayed price recognition as a persistent challenge.
By Maria Rachal • June 6, 2024 -
SafakOguz via Getty Images
Novelis backtracks on IPO launch
The supplier to customers like Ball, Ardagh and Coca-Cola said it’s holding off on previously announced plans “due to market conditions” a week after pricing an offering that could have generated as much as $945 million.
By Maria Rachal • June 5, 2024 -
Courtesy of International Paper/Cision
Suzano and International Paper address deal rumors, details still unclear
Executives acknowledged a potential transaction for the first time this week, but made clear that no formal offer is in place. Analysts speculate that Suzano may specifically be interested in IP’s Global Cellulose Fibers business.
By Cole Rosengren • May 23, 2024 -
Courtesy of Cascades
Cascades names Hugues Simon as new CEO
The Resolute Forest Products executive will replace retiring CEO Mario Plourde no later than July 1. This is the latest in a string of packaging company CEO transitions over the past year.
By Katie Pyzyk • May 17, 2024 -
Courtesy of Novelis
Ball, Ardagh, Coca-Cola aluminum supplier Novelis pursues IPO
The Atlanta-based aluminum company’s recent filings shed light on the state of the U.S. market for food and beverage cans. It’s looking to boost its recycled content use from 63% to 75% in the coming years.
By Maria Rachal • May 16, 2024 -
Mario Tama via Getty Images
CPG promotional activity unevenly impacts packaging suppliers
Boxboard producers stand to benefit the most as consumer packaged goods companies shift away from their recent “value over volume” strategy, according to a Truist Securities analyst.
By Katie Pyzyk • May 15, 2024 -
Mikola249 via Getty Images
Upcoming round of linerboard price increases marks fiber companies’ second attempt in 2024
Companies including Cascades, Georgia-Pacific, Pratt Industries and WestRock plan to join International Paper in raising linerboard prices in June, following a lack of recognition for earlier increases, analysts say.
By Katie Pyzyk • May 13, 2024 -
Permission granted by Berry Global
Berry completes multiple divestitures with ‘line of sight to much more’
Divestitures within the next year could net at least $2 billion in cash proceeds, said Berry Global CEO Kevin Kwilinski, who is upping the company’s focus on consumer packaging.
By Maria Rachal • May 10, 2024 -
Retrieved from U.S. Chemical Safety Board.
PCA to appeal $91.8M payout verdict for Louisiana plant explosion
Packaging Corporation of America believes its insurance will cover the cost of damages in the latest lawsuit over a deadly 2017 explosion at a pulp mill in DeRidder, Louisiana.
By Katie Pyzyk • May 9, 2024 -
Courtesy of Suzano
Brazilian paper company pursuing $15B offer for International Paper: Reuters
The report of Suzano’s verbal proposal comes weeks after International Paper’s agreement to buy DS Smith. Both sides could have an interest in combining fluff pulp supply, according to one analyst.
By Katie Pyzyk • Updated May 7, 2024 -
Courtesy of Sonoco
Sonoco says higher snack, food prices hurt packaging sales volumes
Executives expect slower consumer spending, even when brands and retailers run promotions, to stretch into the second quarter and dampen sales.
By Katie Pyzyk • May 3, 2024 -
Permission granted by Graphic Packaging International
Graphic Packaging sees volumes improve, finalizes Georgia mill sale
Executives on Tuesday’s earnings call emphasized progress with “innovation” sales, including for the Boardio rigid fiber canisters, Nissin Cup Noodles fiber cups and Chick-fil-A fiber cold beverage cups.
By Katie Pyzyk • May 2, 2024 -
Courtesy of O-I
O-I blames destocking as down quarter gives way to lower 2024 projections
O-I Glass muted sales volume estimates amid consumer weakness, and it expects customers’ excess capacity may temper typical seasonal demand. But April showed improvements over recent quarters, executives said.
By Maria Rachal • May 2, 2024 -
SafakOguz via Getty Images
International Paper to raise fiber product prices again, others likely to follow, analysts say
A fresh wave of increases, reportedly occurring in June, could further rile markets following a monthslong controversy over price acceptance.
By Katie Pyzyk • May 1, 2024 -
Permission granted by Amcor
Destocking abates, but healthcare market still a sticking point, Amcor says
Interim CEO Peter Konieczny also weighed in on packaging regulations advancing in the EU and the potential extension of some companies’ sustainability targets during a Tuesday earnings call.
By Maria Rachal • May 1, 2024 -
LordRunar via Getty Images
Crown projects up to 5% volume growth in North America this year
CEO Tim Donahue said that after notable destocking in the fourth quarter, business is bouncing back in Europe this year, where one of two new plants recently got up and running.
By Maria Rachal • April 30, 2024 -
Permission granted by JBM Packaging
Serdar AkarSecond chance hiring can bridge labor gaps, break employment barriers
Although some companies say they initially hire formerly incarcerated individuals to overcome a labor shortage, these programs can lead to less employee churn, lower recidivism and life-changing impact, advocates say.
By Katie Pyzyk • April 30, 2024
