Bemis Company, Inc. reported financial results for its second quarter ended June 30, 2017. Refer to the reconciliation of Non-GAAP measures detailed in the attached schedule, including adjusted earnings per share, adjusted EBITDA, and net debt referenced in this release. “Total company profits were less than expected this quarter due to the impact of the challenging economic environment in Brazil. Sales volumes declined sharply in Brazil versus our run rates as consumers, retailers, and our customers reacted to the latest political instability. In our U.S. business, profits were in line with the expectations we shared last quarter,” said William F. Austen, Bemis Company’s President and Chief Executive Officer. “During June, we initiated a restructuring and cost savings plan to better position the Company in the current environment and for the long term. These efforts are progressing well to create a more agile, streamlined, and efficient business that continues to be successful over the long term.” Click Read More below for additional details.

“WestRock’s corrugated packaging business in Brazil continues to perform well, with strong relationships with customers in attractive growth markets,” said Steve Voorhees, chief executive officer, WestRock. “Our new corrugated packaging plant will enable our exceptional team in Brazil to serve these customers even better in the future, with a state-of-the-art manufacturing facility that will provide new capabilites and efficiences for our customers, and to further integrate the containerboard that we manufacture in Brazil.” The new facility will be located in Porto Feliz and will serve all industry segments and markets both in the highly developed Sao Paulo region, as well other growing areas in Brazil’s southeast region. Construction is expected to begin later this year and be completed in mid-2019.

The Mayr-Melnhof Group (MM) has acquired 100% of the shares in Eson Pac, based in Veddige, Sweden, from the majority shareholder Nalka Invest AB and the minority shareholders from family and management. With a total turnover of around EUR 48 million, Eson Pac develops, produces and sells high-quality secondary packaging solutions for the pharmaceutical industry. The company has three production sites in Sweden and one in Denmark, focusing on folding boxes, leaflets and labels. Eson Pac currently employs around 300 people. "With this acquisition, we are strengthening our presence within the premium segment of the packaging division. The transaction ideally complements our current customer base and offers attractive new opportunities. In combination with our existing activities, we can offer our customers even more innovative and sustainable solutions. We are very confident that together with the highly qualified team from Eson Pac, we will successfully advance the joint growth course", commented MM CEO Peter Oswald.