Finance: Page 7
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DeSid via Getty Images
Layoffs tick up in October, led by International Paper and O-I Glass
Companies such as Dart Container, PPC Flexible Packaging, Sonoco and Metsä Board also disclosed upcoming layoffs in multiple areas.
By Katie Pyzyk • Nov. 5, 2024 -
Courtesy of Berry Global
Berry completes spin-off of health division to form new company Magnera
Berry spun off its health and hygiene business to merge with Glatfelter, allowing it to focus on consumer packaging. The newly formed Magnera is now “the largest nonwovens company in the world.”
By Maria Rachal , Cole Rosengren • Updated Nov. 5, 2024 -
Courtesy of Sonoco
Sonoco discloses pending $419M divestiture in China amid period of major change
CEO Howard Coker said the pending purchase of Eviosys and two more possible divestitures would create a company primarily focused on metal and fiber products. It also disclosed notable hurricane effects in Florida.
By Cole Rosengren • Nov. 4, 2024 -
DeSid via Getty Images
Packaging manufacturers share insights from Q3
Recent earnings calls revealed some notable changes at packaging manufacturers. Follow the latest from Pactiv Evergreen, Clearwater Paper, Sonoco, Amcor, International Paper, Smurfit Westrock and more.
By Packaging Dive Staff • Updated Nov. 12, 2024 -
Permission granted by Amcor
Amcor to exit longstanding closures joint venture in $122M deal
Amcor noted the deal during its first fiscal 2025 earnings call, in which new CEO Peter Konieczny also discussed the destocking trend in healthcare, plus a focus on higher-margin businesses like meat, pet care and premium coffee.
By Maria Rachal • Nov. 1, 2024 -
Courtesy of International Paper/Cision
DS Smith deal close pushed to 2025 as IP touts early results from its own turnaround plan
CEO Andy Silvernail provided numerous updates on a company rethink that has involved site closures, a large corporate restructuring and operational changes. He also previewed the potential for new box plant investments.
By Cole Rosengren • Oct. 31, 2024 -
muchemistry via Getty Images
International Paper cuts 674 jobs amid strategic review of global cellulose fibers
The news of a South Carolina pulp mill closure brings IP’s announced layoffs in October to more than 1,500. A potential sale of the broader GCF business is now under consideration.
By Maria Rachal • Oct. 31, 2024 -
Courtesy of Smurfit WestRock
Smurfit Westrock cuts 800 positions, eyes footprint optimization and investments
CEO Tony Smurfit touted “excellent” results for the combined company’s first earnings report but noted a desire to further optimize assets and reduce costs. He also addressed questions about the solid bleached sulfate business.
By Katie Pyzyk • Oct. 30, 2024 -
Courtesy of O-I Glass
O-I considers cutting 7% of capacity by mid-2025
The company reported a net loss in Q3 after curtailing an estimated 18% of production amid destocking trends. It also reported the opening of a new manufacturing facility in Kentucky, its first in decades.
By Maria Rachal • Oct. 30, 2024 -
Courtesy of McDonald's
Graphic Packaging to ditch third-party pricing indexes in 2025
The move to develop a new pricing index follows an industrywide controversy throughout 2024. Plus, GPI disclosed on its earnings call a partnership with McDonald’s on a food service packaging innovation.
By Katie Pyzyk • Oct. 29, 2024 -
Rost-9D via Getty Images
Is the fiber packaging M&A surge done? Probably not.
M&A activity is expected to influence companies’ commercial approaches for the next five to 10 years, according to conference speakers from Wells Fargo, Bloomberg and Hudson Windsor.
By Katie Pyzyk • Oct. 28, 2024 -
Courtesy of Suzano
Suzano begins operating 2 US mills, talks bolt-on M&A
Suzano executives shared more details about the ramp-up in Arkansas and North Carolina, and the Brazilian company’s broader aspirations for growth in the U.S., during an earnings call on Friday.
By Maria Rachal • Oct. 28, 2024 -
Courtesy of Eviosys
Sonoco’s acquisition of Eviosys under review in UK
U.K. regulators are expected to report back by Dec. 19 on a deal that Sonoco has projected will close in the fourth quarter. Separately, the European Commission recently approved the acquisition.
By Maria Rachal • Oct. 25, 2024 -
Courtesy of O-I Glass
O-I Glass shuttering Ohio innovation center, Illinois plant: reports
The company has teased multiple closures since Gordon Hardie took over as CEO but previously had shared few specifics on locations.
By Maria Rachal • Oct. 24, 2024 -
Courtesy of Georgia-Pacific
10 of the latest packaging facility expansions in North America
Elopak, Georgia-Pacific, Graham Packaging and RediBagUSA are among the companies that recently made investments in new facilities or upgrades.
By Katie Pyzyk • Updated Oct. 25, 2024 -
Lisa Beeby via Getty Images
PCA reports strong volume and price growth in Q3, previews major new plants in the coming years
Packaging Corporation of America set new quarterly records in containerboard production and other categories, backed by demand from existing customers. It also reported progress on at least 60 capital projects at existing box plants.
By Cole Rosengren • Oct. 23, 2024 -
SafakOguz via Getty Images
Fiber packaging pricing remains flat, Cascades’ 3rd increase doesn’t gain traction
Industry price increases appear to be finished for the year. Meanwhile, analysts point to continued improvement in volumes while the industry pulls up from the post-pandemic “cardboard box recession.”
By Katie Pyzyk • Oct. 22, 2024 -
Rachel Pollack/Packaging Dive
International Paper to close facilities in 4 states, lay off hundreds
The recently disclosed layoffs will occur in Illinois, Missouri, North Carolina and Tennessee in mid-December. These are in addition to 650 layoffs confirmed last week.
By Katie Pyzyk • Updated Oct. 21, 2024 -
Courtesy of Crown Holdings
Beverage can trends in North America, Europe improved for Crown in Q3
However, customer promotional activity remains “lackluster,” which “may well be the new norm,” said CEO Tim Donahue.
By Maria Rachal • Oct. 21, 2024 -
Courtesy of O-I Glass
O-I Glass discloses $21M severance charge amid furnace closures
The company detailed an optimization plan in July. In the past two months, O-I has disclosed multiple furnace closures impacting hundreds of employees and a Q3 charge related to expected Q4 severance payouts.
By Maria Rachal • Oct. 17, 2024 -
Courtesy of International Paper/Cision
International Paper to lay off 650 employees
The company released additional details this week about corporate layoffs in Memphis, Tennessee, with hundreds of employees to be impacted the first week of January.
By Katie Pyzyk • Updated Nov. 14, 2024 -
Courtesy of International Paper/Cision
Acquisition of DS Smith
International Paper, DS Smith shareholders vote to approve combination
The shareholders’ approvals push the deal closer to closing. The combined companies anticipate pro forma sales of over $28 billion.
By Katie Pyzyk • Oct. 11, 2024 -
Kristoffer Tripplaar/Sipa/AP
Longtime Plastipak Packaging CEO steps down, welcomes ‘next generation of leadership’
William Young, who co-founded the family-owned company in 1967, passed the torch this week to his son-in-law, Edward Morgan, who has worked at Plastipak for more than 20 years.
By Katie Pyzyk • Oct. 9, 2024 -
Permission granted by Origin Materials
Dart Container, Origin Materials announced workforce cuts in September
New data shows U.S. manufacturing contracted and layoffs rose last month. News of workforce reductions by Berry Global and Origin cropped up in Canada, as well as at Dart’s corporate headquarters in Michigan.
By Maria Rachal • Oct. 2, 2024 -
Maria Rachal/Packaging Dive
Packaging trade shows to watch in 2025
Mark your calendar: These U.S. conferences and events will cover timely trends in sustainable packaging design, recycling technologies, regional market trends, substrate evolutions, automation and more.
By Packaging Dive Staff • Updated May 9, 2025
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