Net sales in the third quarter of 2020 were $1.6 billion compared to $1.7 billion in the prior year as net sales declined $76 million attributed to the divestment of ANZ. After adjusting for the sale of ANZ, average selling prices improved nearly 1 percent and increased revenue $12 million. Shipments increased 1.7 percent in tons, or $24 million, while unfavorable foreign currency translation reduced net sales by $11 million. Segment operating profit1 was $204 million in the third quarter of 2020 compared to $206 million in the prior year. Higher shipments benefited segment operating profit by $10 million. Cost inflation, which was elevated due to foreign currency pressures, more than offset the benefit of higher selling prices by $4 million. Operating costs were $6 million higher than the prior year as improved operating performance and cost control efforts substantially offset the impact of lower production levels. Current year profits were unfavorably impacted by the net effect of favorable foreign currency translation and the sale of ANZ.

Marc Shore, president of WestRock’s Multi Packaging Solutions (MPS) business, decided to leave WestRock, effective August 17, 2020. Patrick Kivits has assumed the role of president, MPS since Shore’s departure. Kivits joined WestRock in 2019 from H.B. Fuller and has served as the executive vice president for MPS since that time, where he was responsible for the company’s MPS North America operations. In this role, Kivits worked to ensure an ongoing commitment to customers while driving continuous growth, innovation and exceptional results. He also served as steward of WestRock’s China Operations, guiding a cohesive company presence while supporting the company’s MPS China Operations.

Sealed Air Corporation announced price increases ranging from five to eight percent for the majority of its Food Care division’s North American products. The increases will be effective October 2, 2017. “Sealed Air has not had a price increase for Food Care products in North America since 2014, and we are working to minimize the cost adjustments and their impact on our customers,” said Karl R. Deily, President, Sealed Air Food Care; “However, notable increases in our input costs, including a 31% rise in the price of polyethylene since 2016, make changes to our prices necessary in order to continue to deliver the same level of value and innovation to our customers.” The price changes include a five percent increase on all shrink bags, rollstock products, food films and vertical pouch packaging, as well as a six percent increase on unpadded solid plastic trays and an eight percent increase on pre-padded solid plastic trays.