First quarter 2023 net income (loss) was $(1.0) million compared to net income (loss) of $16.4 million in the first quarter of 2022. Net income (loss) from ongoing operations, which excludes special items, was $2.5 million in the first quarter of 2023 compared with $16.8 million in the first quarter of 2022. John Steitz, Tredegar’s president and chief executive officer, said, “Our businesses and markets continue to suffer from a significant slowdown that has been exacerbated by customer inventory corrections, which has resulted in excessive inventory levels for us, too. The timing of a recovery is uncertain, especially for Bonnell Aluminum and the Surface Protection component of PE Films.”

Huhtamaki has worked with Carte D’Or to shift the packaging for their ice cream to recyclable paper tubs and lids. The move to recyclable paper-based packaging will help the brand eliminate more than 900 tonnes of virgin plastic in the UK annually. “Huhtamaki is on a journey to becoming the first choice in sustainable packaging solutions with a focus to ensure our products are recyclable, compostable, or reusable by 2030. We are delighted to support Unilever’s ambitions for its packaging portfolio which includes halving the amount of plastic used by 2025 and rethinking plastic packaging to use less, better or no plastic. The shift in packaging for Carte D’Or addresses these key targets.

Several Koehler flexible packaging paper have been certified by the environmental services provider Interseroh and awarded the „Made for Recycling“ seal. This includes Koehler NexPlus® Advanced, Koehler NexPlus® Seal Pure and Koehler NexPlus® Seal Pure MOB. Among other things, the after-life aspects of collection, sorting and recovery were analyzed. With this seal, the environmental services provider Interseroh certifies that the paper has a very good recycling capability. With Koehler NexPlus®, Koehler Paper is meeting the rapidly growing demand for sustainable packaging solutions - and this extends beyond just the food industry. Koehler NexPlus® paper has a barrier coating with various capabilities and characteristics. In particular, these include barriers for odors, greases, oils, water vapor, or gases, which combine with the paper's inherent capabilities, such as high strength properties and a natural feel, to create a strong overall concept. The advantage of Koehler’s NexPlus® barrier paper is that it is manufactured from sustainable raw materials. After use, it is classified as wastepaper and is thus a sought-after recycled raw material.