International Paper will close two packaging facilities in Compton, California, and Louisville, Kentucky, as part of its strategy to streamline its North American footprint. The company announced that both sites will cease operations by January 2026, with customer orders redirected to nearby locations. The closures will affect 125 employees in Compton and 93 in Louisville. International Paper stated that it will work to reduce the impact through attrition, retirements and open positions at other company sites. Affected employees will receive outplacement services, mental health support and severance packages.

CANPACK Group and BA Glass announce that on April 2nd they have finalized the sale of CANPACK’s Glass operations in Poland to BA Glass. Consequently, the glass plant located in Orzesze was transferred to BA Glass and became part of its operations in Poland. Marius Croitoru, CANPACK Group CEO stated: “As we close this transformative chapter with the sale of CP Glass assets, we are strategically aligning our focus on our core businesses and maximizing value for our stakeholders. The proceeds from this transaction will empower CANPACK to further support our general corporate objectives. We extend our heartfelt acknowledgments and best wishes for continued success to our former colleagues. Together, we’ve built a legacy, and we look forward to their great success as part of BA Glass.” Tiago Moreira da Silva BA Glass CEO added: “For BA Glass Group this acquisition fulfills an objective long waited for the group in Central Europe. To have a greater representation in the market and to diversify its portfolio of products has always been limited to our capacity, now, with CP Glass, we will be able to do it and better serve the Central European market. We are happy to have finalized this operation and eager to start integrating CP Glass in our values and vision.”

Packaging Corporation of America reported fourth quarter 2023 net income of $189 million, or $2.10 per share, and net income of $192 million, or $2.13 per share, excluding special items. Fourth quarter net sales were $1.94 billion in 2023 and $1.98 billion in 2022. Full year 2023 net income was $765 million, or $8.48 per share, and net income of $784 million, or $8.70 per share, excluding special items. Full year net sales were $7.8 billion in 2023 and $8.5 billion in 2022.