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
Related Posts
The new ePac digital flexible packaging plant in Melbourne is seeing two HP Indigo 25K digital flexible printing systems go in, with installation by Currie Group. The first ePac production facility in ANZ is eight kilometres from the Melbourne CBD, at the new Newlands Road food manufacturing hub, located in the heart of Coburg’s thriving industrial district. It is being headed up by Jason Brown, formerly group divisional general manager at Ball & Doggett. He said, “Our quick turn-around production time, no setup fees and digitalised process from computer to print allow us to enable small and medium sized brands to achieve higher quality packaging with low minimum orders at optimal prices.” “This strategic collaboration with HP Inc has and will enable us to continue transforming the flexible packaging industry, and ultimately continue to be disruptive in new categories to serve more brands and communities.”
When retail giant Amazon jumped into meal-kit delivery last summer, it was the clearest signal yet that consumer convenience is the new North Star for products and services across all categories. From consumer packaged goods (CPGs) going online to personal care brands and retailers exploring subscription models, the industry is now further investing in e-commerce by embracing a new "last mile" to reach consumers. So, if our first interaction with a product takes place on our front porch instead of in a store, how does that change how we choose brands and develop preferences? One of the greatest challenges for emerging retail models is that consumers buy products without seeing them first. It's crucial to consider what a leap of faith it is for a consumer to buy a product sight unseen. A retailer's success is contingent on the notion of trust among the consumer, the brand and the retailer; yet trust is hard to build and easy to lose. In this new marketplace with so much upside and an equal amount of risk, how can brands establish sustainable competitive advantage? Click Read More below for additional information.
In its continuing pursuit to develop packaging materials that meet the sustainability goals of its customers, global packaging solutions provider SEE (NYSE: SEE) has developed the first biobased, industrial compostable tray for protein packaging that has been successfully tested to meet the demands of existing food processing equipment. SEE's new CRYOVAC® brand compostable overwrap tray is made from biobased, food-contact grade resin, which is USDA-certified as having 54% biobased content chemically derived from renewable wood cellulose. The tray, which will break down into organic material without leaving toxic residue, was created as an alternative to those made from expanded polystyrene (EPS), which are traditionally used to package fresh poultry and red meat for consumer purchase but are not biodegradable or recyclable.