Based in Wisconsin, Belmark is a global industrial leader in packaging and labeling. The new flexible packaging plant in Allen County will mark their second expansion out of their home state and will add over 150 new jobs to the Allen Springs Industrial Park. “This is gonna catch those people that, as I said, are leaving Allen County to go to work in Bowling Green and Franklin and down in Tennessee. This is going to catch some of those people and allow them to stay right here in Allen County and work and provide for their families,” said Allen County judge-executive Dennis Harper. Throughout the ceremony, representatives of Belmark shared their insight into why Allen County was chosen for the expansion. Citing the small town’s charm and potential for economic growth, CEO Karl Schmidt and plant manager Jeff LeCaptain say that Allen County and Scottsville are welcoming community partners for the manufacturing center.

Stora Enso has entered into an agreement to divest approximately 175,000 hectares of forest land, equivalent to 12.4% of its total forest land holdings in Sweden for an enterprise value of EUR 900 million, equivalent to SEK 9.8 billion. Soya Group, will hold a 40.6% share in the newly formed company, and a MEAG led consortium will hold 44.4% of the shares. MEAG is the asset manager of Munich Re, a German insurance company. Stora Enso will retain a 15% ownership in the company. In connection with the transaction, Stora Enso and the divested entity will enter into a 15-year wood supply agreement with a possible additional 15-year extension. This will secure wood availability for Stora Enso’s Swedish business units. The new entity will also benefit from a forest management agreement under which Stora Enso will provide forest-related services. Due to the disposal, the Group’s adjusted EBITDA is expected to decrease by approximately EUR 25 million per year, of which EUR 15 million is cash-related, based on full-year 2024 numbers.

Sonoco announced that its Prepared and Specialty Foods Segment will raise prices for CPET (crystallized polyethylene terephthalate) and PP (polypropylene) thermoformed plastic trays and bowls by 8 percent. The increases will be applied individually, and depending on product category, effective for shipments beginning on February 22, 2021. “These price adjustments are critical to manage continued increases in cost across our business. Thus far, we have offset much of these increased input costs via manufacturing productivity initiatives and supply chain optimization activities, but with continued inflation, we must now pass this cost on to our customers,” said Rolfe Olsen, Segment Vice President – Prepared & Specialty Foods at Sonoco.