Mondi's London-listed shares jumped 11% on the news, as the company said it will distribute a cash balance of 16 billion rubles ($250 million) to shareholders.
Packaging Paper & Board
Ilim Group is finalizing the construction of the largest kraftliner mill in Ust-Ilimsk, Russia. It is the first mill in the Russian pulp and paper industry to use a two-stage biological wastewater treatment system.
The American Forest & Paper Association (AF&PA) announced the promotion of Andrew Topps as the next Vice President, General Counsel and Corporate Secretary, effective September 1, 2022.
U.S. containerboard production in 2Q 2022 increased by 2% compared to 2Q 2021. It was also up 2% when compared to the same 6 months of 2021.
Following the fire that hit RDM Blendecques mill in France, A.Celli will contribute to the restart of production with a brand new E-WIND P100 paper rewinder. The start-up phase is scheduled for the end of 2022 and the restart of production for early 2023.
Graphic Packaging Holding Company's net sales increased 36% to $2,358 million in the 2Q 2022, compared to $1,737 million in the prior year period. EBITDA for the 2Q 2022 was $294 million, compared to $214 million in the prior year period.
WestRock Company's net sales increased $703 million, or 14.6%, year-over-year. Net income increased $128 million year-over-year to $378 million.
German papermaker Felix Schoeller Group announced that due to the still volatile effects of various cost increases, for energy and for raw materials, the Company forced to pass on further price increase from August 2022.
U.S. boxboard production in 2Q 2022 increased 1% compared to Q2 2021. It was up 2% when compared to the same 6 months of 2021. The boxboard operating rate was 95.3%, down 1.2 points from Q2 and essentially flat (+0.3 pts.) year-to-date.
Due to continuing high cost and volatility in raw materials, energy and transportation Sappi Europe will increase its prices to its European customers by 8-10% on its range of woodfree coated and uncoated papers, and paperboard from 12 September.
Packaging Corporation of America reported 2Q 2022 net income of $301 million, or $3.20 per share, and net income of $304 million, or $3.23 per share, excluding special items. 2Q net sales were $2.2 billion in 2022 and $1.9 billion in 2021.
The Georgia-Pacific corrugated plant in Bradford, Pennsylvania, will undergo a significant upgrade with an investment topping $34 million. The funding will provide new equipment to modernize the plant’s operations
WestRock Company has entered into an agreement to acquire the remaining interest in Grupo Gondi for $970 million, plus the assumption of debt, representing an estimated implied enterprise value of $1.763 billion.
U.S. packaging papers & specialty packaging shipments in June 2022 decreased 4% compared to June 2021. They were essentially flat (+0.0%) when compared to the same 6 months of 2021.
International Paper's 2Q 2022 net sales increased by 13% to $5,389 million, compared to $4,770 million in the 2Q 2021. Net earnings (loss) were $511 million ($1.38 per diluted share) compared with $360 million ($0.95 per diluted share) in the 1Q 2022 and $432 million ($1.09 per diluted share) in the 2Q 2021.
Tetra Pak will be exiting its remaining operations in Russia. This marks the end of 62 years of Tetra Pak’s presence in country. Tetra Pak has now reached an agreement to divest its Russian business to local management.
Sonoco's net sales for the second quarter of 2022 were a record $1.91 billion, compared with last year's second quarter sales of $1.38 billion. For the first six months of 2022, net sales were a record $3.68 billion, up $948.3 million, compared with $2.74 billion in the first six months of 2021.
Antalis signs a binding offer to acquire the Cohal Group (Autoadhesivos Cohal, S.A. and Garalmi, S.A.), a leading supplier in the Spanish self‐adhesive labels and packaging products distribution market.
Mondi, a global leader in packaging and paper, is investing nearly Euro 65 million in three Consumer Flexibles packaging plants in Europe in order to meet growing customer demand for sustainable pet food packaging solutions.
Menasha Packaging Company, LLC, a subsidiary of Menasha Corporation, announced it has finalized the acquisition of Color-Box, a business unit of Georgia-Pacific, LLC. Terms of the transaction were not disclosed.