Mondi, a global leader in packaging and paper, is investing €16 million in new technology to produce a new packaging range called FunctionalBarrier Paper Ultimate. This ultra-high barrier paper-based solution for food meets growing customer demand for sustainable packaging that contributes to a circular economy. The new addition expands Mondi’s existing portfolio of FunctionalBarrier Papers providing high-barrier paper-based packaging for food products such as dried foods and powdered milk as well as for applications in the home and personal care industry. These products require packaging that offer protection from water vapour and oxygen and can ensure a long shelf life. The current industry standards to achieve this level of barrier protection are unrecyclable solutions made of plastic or lined with aluminium. Mondi’s FunctionalBarrier Paper Ultimate range is designed to be recyclable in paper waste streams across Europe while providing the necessary product protection.

2023 Highlights: *Net Sales were $9,428 million, flat versus the prior year. *Net Income was $723 million, an increase of 39% versus the prior year. *Year-end net leverage was 2.8x versus 3.2x at prior year end. Michael Doss, the Company's President and CEO said, "While 2023 was a year of transition for consumer packaging, it was one of outstanding execution for Graphic Packaging. We significantly expanded profitability, achieved strong earnings growth and delivered innovative sustainable packaging solutions that consumers prefer. Our disciplined approach and commitment to delivering results for customers was on full display during a year of well-chronicled inventory normalization for both retailers and consumer packaged goods companies. While we did experience 4% negative organic sales growth for the year, our innovation sales exceeded $200 million, and our overall performance was excellent. We are well positioned to return to positive organic sales growth in 2024, which has started to materialize in improved volumes quarter to date."

Zume, the sustainability solutions company creating economically viable substitutes for single-use plastics, today announced it is furthering its partnership with Solenis, a leading global producer of specialty chemicals. Together, the companies are launching a comprehensive line of PFAS-free packaging to replace plastic and styrofoam with a sustainable alternative for food service applications. Popular for their grease- and water-resistant properties, PFAS (per- and polyfluoroalkyl substances) are widely used chemicals commonly found in food packaging. While molded fiber packaging can be composted, PFAS do not degrade naturally and can leach from containers and move through soils, contaminating drinking water sources and significantly damaging the sustainability and circularity profile of molded fibers. The joint partnership furthers efforts from Zume and Solenis to expand PFAS-free molded fiber solutions to replace entire categories of single-use plastic without harmful chemicals. Zume will provide its advanced molded fiber manufacturing capabilities and professional services, and Solenis will supply its unparalleled expertise in functional additives and surface coatings which increase the strength and functionality of Zume’s fiber recipes.