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SOUTH AFRICA – Paper and plastic packaging producer and recycler Mpact has reported a strong performance for the six months ended 30 June 2023 with operating profit increasing by 37% to R530.7 million when compared to the prior period. According to the company, its group revenue for the six months increased by 8.7% to R6.2 billion compared to the prior…
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IRELAND – Irish corrugated packaging company, Smurfit Kappa has reported drops in both revenue and profits for the six months to the end of June in what it called a “challenging macro backdrop”. Smurfit Kappa said its half-year revenue fell by 9% to €5.84 billion (US$6.38bn), while its profit before income tax fell by 14% to €659 million (US$720.28m). The…
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USA – American multinational consumer goods corporation, Procter & Gamble Company has revoked its pledge not to buy wood pulp from degraded forests from its corporate policy, a company executive disclosed to investors in a previously unreported July 18 briefing. The change drew the ire of several P&G investors, who have conveyed disapproval of P&G for no longer including its…
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USA – Leading innovator of narrow- and mid-web printing and finishing equipment, Mark Andy is proud to offer introductory access to the newest technology in automation for tag and label converting – the Tidland RD AutoScore. Developed by Maxcess, this cutting-edge solution enables faster run speeds, reduced setup time, improved safety, and increased productivity. The Tidland RD AutoScore brings automated…
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AUSTRIA – French investment company Wendel Group has signed an agreement to sell Constantia Flexibles to an affiliate of One Rock Capital Partners. Based in Austria, Constantia is a manufacturer of flexible packaging for over 4,000 pharmaceutical, food and consumer goods customers. Wendel said that Constantia would be sold for a price that yields net proceeds of €1.1 billion (US$1.20bn).…
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USA – Family-owned flexible packaging converter, American Packaging Corporation has opened its new 275,000-square-foot Center of Excellence manufacturing facility in Cedar City, Utah. The ribbon-cutting ceremony was attended by several dignitaries and community leaders alongside APC officials to partake in the celebration and officially welcome APC to the Cedar City community. The US$100 million facility, which marks APC’s sixth Center…
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RUSSIA – Russia’s largest pulp and paper company, Illim Group has appointed Alexey Chernyaev as acting CEO in replacement of Ksenia Sosnina who left the company last month. Alexey began his career with the Company in 2016. He has over 15 years of work experience in managerial positions in purchasing, production, supply chain and capital project management in industrial companies…
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