International Paper (NYSE: IP) has entered into an agreement to sell its 90.38% ownership interest in Olmuksan International Paper to Mondi Group for approximately €66 million. The Olmuksan business includes corrugated packaging facilities in Turkey with an approximate annual revenue of TRY1,093 million (€150 million). The transaction is expected to close in the first half of 2021, subject to certain closing conditions and regulatory approvals. This action is in line with International Paper’s strategy to serve markets from an advantaged position. Corrugated packaging remains a strategic business for International Paper in EMEA.
https://internationalpaper2015.q4web.com/news-releases/press-r/2021/International-Paper-Reaches-Agreement-to-Sell-Its-Corrugated-Packaging-Business-in-Turkey/default.aspx
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Metsä Board will present its range of lightweight premium paperboards and its 360 Services at FachPack, hall 4A, stand 116. As a leading European supplier of fresh fibre paperboards Metsä Board focuses on circularity in packaging, efficient use of materials, and solutions for reducing the carbon footprint of packaging. Visitors to FachPack can look forward to learning about a wide range of packaging applications for Metsä Board’s recyclable and compostable dispersion barrier board. This board can reduce plastic use – for example, in sensitive applications such as dry food, takeaway food, bakery products and frozen food. Metsä Board’s premium quality folding boxboards and white kraftliners will also be on view. Thanks to their light weight and strength they enhance resource efficiency and material reduction. Metsä Board invites FachPack visitors to its stand to discuss solutions to their own packaging challenges and the environmental impact of material and packaging choices.
RM Machinery announces the installation of a second press from the RMGT 10-Series line to Relevant Packaging of Omaha, Nebraska—the RMGT 1060TP-8 (7/1)+DD+LD. The installation, which took place in September 2023, coincided with the folding carton company’s milestone of achieving 40 million impressions on its RMGT 1050LX-6+CC+LD, a press purchased from RM Machinery in November 2022. The two RMGT presses from the 10-Series line are now predominantly responsible for Relevant Packaging’s folding carton production. Prior to purchasing the RMGT 1060TP, Relevant Packaging operated an offset press from another manufacturer that required multiple passes during production over the course of seven days. With the 1060TP, Relevant Packaging was able to cut its production time to four days thanks to the press’s ability to print seven colors on one side and an eighth on the other using UV ink in a single pass.
2021 Annual Highlights (comparative figures have been restated to reflect discontinued operations2) Sales of $3,956 million (compared with $4,105 million in 2020) As reported (including specific items) Operating income of $50 million (compared with $292 million in 2020) Operating income before depreciation and amortization (OIBD) of $302 million (compared with $543 million in 2020) Net earnings per common share of $1.60 (compared with $2.04 in 2020) Net earnings per common share of $0.26 (compared with $1.95 in 2020) Net debt1 of $1,351 million as at December 31, 2021 (compared with $1,760 million as at September 30, 2021). Net debt to adjusted OIBD ratio1 of 3.5x down from 3.8x as at September 30, 2021.