Intertape Polymer Group Inc. announced it has entered into a definitive agreement to acquire Nuevopak Global Limited (“Nuevopak”) for approximately $43.8 million in total cash consideration, consisting of $34.8 million to be paid at closing and the remaining amount, subject to certain post-closing adjustments and potential contingent consideration, to be paid within three years from the date of closing. All amounts are in US dollars. Nuevopak designs and develops a range of machines to provide void-fill and cushioning protective packaging solutions. Nuevopak currently supplies IPG with paper dispensing machines and converted paper for protective packaging distribution in North America. Nuevopak is a privately held company headquartered in Hong Kong with subsidiaries in Jiangmen, China and Scheden, Germany that serve customers around the world, providing protective packaging solutions using a combination of world-class innovation and specialized industry experience. This acquisition is expected to further enhance IPG’s protective packaging business and strengthen its product bundle, thereby supporting IPG’s vision to be a global leader in packaging and protective solutions. The acquisition is also expected to enable IPG to secure dispensing machine supply, vertically integrate its paper converting operation, and expand market share in this growing, sustainability-focused market.

KapStone Paper and Packaging Corporation (NYSE: KS) announces the recent release of its fifth annual sustainability report which shows ongoing progress towards meeting its 2020 sustainability goals. Conforming to the Global Reporting Initiative's (GRI) G4 rigid and voluntary standards, the report details accomplishments along with areas for improvement necessary to meet those goals. KapStone Paper and Packaging Corporation CEO and President, Matt Kaplan, states: "Operating in a sustainable manner is core to doing business the right way. As we look ahead to meeting our 2020 goals, we are inspired by the great work of our employees and know by reaching higher, we will position ourselves to achieve our goals."

The Department of Commerce (DOC) shouldn’t be picking winners and losers in U.S. manufacturing markets, but that is exactly what they are doing in the case of aluminum foil imports. A “self-initiated” case by the DOC against suppliers of aluminum foil from South Korea and Thailand threatens manufacturers of flexible packaging with unwarranted duties on necessary aluminum foil for food, pharmaceuticals, and medical device packaging. These duties are not appropriate as the foil used in these applications is not manufactured in the United States in the quantity and quality needed. In fact, this foil¬—which creates the ideal barrier to bacteria, odor, sunlight, and contamination—is essential to protect the domestic food, health, and medical product supply.