Finance


  • Six plastic water bottles bundled with a fiber band.
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    Permission granted by DS Smith
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    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 June 20, 2024
  • The new logo for SEE, the rebrand of Sealed Air.
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    Courtesy of SEE
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    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 June 14, 2024
  • Aerial view of WestRock's headquarters in Atlanta, Georgia
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    Permission granted by WestRock
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    Smurfit WestRock transaction

    WestRock, 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 June 13, 2024
  • A worker operates a forklift in an industrial warehouse, surrounded by large rolls of a fiber product.
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    Retrieved from Greif on June 11, 2024
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    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 June 12, 2024
  • A person speaks at a conference from behind a white podium.
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    Katie Pyzyk/Serdar Akar
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    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 June 10, 2024
  • A large roll of kraft paper in a factory setting
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    Foto-Video-Studio via Getty Images
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    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 June 6, 2024
  • Large rolls of sheet aluminum stacked in a factory setting
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    SafakOguz via Getty Images
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    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 June 5, 2024
  • International Paper's new logo.
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    Courtesy of International Paper/Cision
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    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 May 23, 2024
  • Outside view of an office building with a sign for Cascades paper.
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    Courtesy of Cascades
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    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 May 17, 2024
  • A line of 21 people across dirt, each wearing hard hats and carrying shovels, ceremonially break ground at the site of Novelis' aluminum rolling and recycling plant in Bay Minette, Alabama.
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    Courtesy of Novelis
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    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 May 16, 2024
  • An end display in Target's grocery section features boxes of Pop-Tarts with a sign saying "Sale! Kellogg's Pop-Tarts frosted pastries 12-ct; When you buy 2; 2/$6"
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    Mario Tama via Getty Images
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    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 May 15, 2024
  • Close up view of stacked corrugated cardboard.
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    Mikola249 via Getty Images
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    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 May 13, 2024
  • Berry Global's headquarters in Evansville, Indiana.
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    Permission granted by Berry Global
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    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 May 10, 2024
  • 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 May 9, 2024
  • Aerial shot of Suzano production site in Brazil
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    Courtesy of Suzano
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    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 Updated May 7, 2024
  • Interior of industrial production facility
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    Courtesy of Sonoco
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    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 May 3, 2024
  • Machinery inside Graphic Packaging International's Kalamazoo, Michigan, paperboard production plant.
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    Permission granted by Graphic Packaging International
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    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 May 2, 2024
  • Quality inspection at an Owens-Illinois glass manufacturing facility
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    Courtesy of O-I
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    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 May 2, 2024
  • Close-up view of flat, stacked corrugated boxes.
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    SafakOguz via Getty Images
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    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 May 1, 2024
  • Amcor logo
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    Permission granted by Amcor
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    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 May 1, 2024
  • The tops of silver tabbed beverage cans
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    LordRunar via Getty Images
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    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 April 30, 2024
  • Two people reading a document in an industrial workplace setting.
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    Permission granted by JBM Packaging
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    Serdar Akar

    Second 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 April 30, 2024
  • Ball cans and bottles.
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    Permission granted by Ball Corporation
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    Ball navigates shifting beverage markets after aerospace sale, Bud Light boycott

    Volumes and mix for Ball are shifting as the beer market resets. In the can maker’s first earnings call since completing the sale of its aerospace business, executives detailed plans for significant stock buybacks in 2024.

    By April 29, 2024
  • Flexible plastic packaging pouches
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    Romeo Gacad via Getty Images
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    Packaging manufacturers discuss Q1 trends

    Catch up on the latest earnings commentary from Berry, Sonoco, O-I, Graphic Packaging, Amcor, Crown, PCA, International Paper and Ball.

    By Serdar Akar Staff • Updated May 10, 2024
  • International Paper's new logo.
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    Courtesy of International Paper/Cision
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    Fire and ice cool International Paper’s Q1 earnings

    January and February incidents resulted in notable charges. CEO Mark Sutton, during his last earnings call before retirement, discussed volume trends but didn’t comment on the announced DS Smith acquisition.

    By April 26, 2024