Huhtamaki is implementing changes to empower business segments to accelerate execution of its 2030 profitable growth strategy. Effective today, changes are made to the organizational structure of the Sustainability and Communications as well as the Strategy and Business Development functions. As a result, the changes streamline the Global Executive Team (GET). “Since joining the company as President and CEO in January, we made clear that our 2030 strategy is intact. Within our strategy, we have specified three focus areas to help us reach our profitability ambitions, namely accelerating growth through all levers, disciplined capital allocation as well as increased accountability and speed of execution. The changes we are making today are part of the implementation of our new operating model to accelerate strategy execution. With these changes we will simplify decision-making, gain speed, and ensure clear accountability,” says Ralf K. Wunderlich, President & CEO of Huhtamaki.

Fiscal Year 2017 Results: The net sales increase of $606 million is primarily attributed to acquisition net sales of $788 million and selling price increases of $60 million due to the pass through of higher resin prices, partially offset by a negative $136 million impact from a 2 percent base volume decline, $98 million from extra days in fiscal 2016, and a slightly negative impact from foreign currency changes. The operating income increase of $151 million is primarily attributed to acquisition operating income of $62 million, a $36 million decrease in Avintiv integration and restructuring costs, a $35 million decrease in selling, general and administrative expense related to synergies and cost reductions, a $24 million improvement in our product mix and price/cost spread, a $16 million decrease in depreciation and amortization, and a slight improvement in productivity in manufacturing. These improvements were partially offset by a $20 million impact from the base volume decline and $10 million from extra days in fiscal 2016. Click Read More below for additional information.

Pregis proudly showcased its packaging innovations to 50,000 industry professionals at ProMat 2023, the largest material handling, logistics, and supply chain show in the world. Coming out of the event, three critical packaging trends will add tremendous value to company fulfillment operations. Automation - E-commerce demand is raising volumes in warehouses, and to keep up, companies have no choice but to implement automation. This technology is being integrated more often, and the runway for an ROI is shorter than ever. Recyclability and Recycled Content - Protective packaging is being truly engineered with the environment in mind. Businesses, and their customers, are increasingly supporting a circular economy. Customer Experience - Protecting goods from the rigors of shipping continues to be a main proponent of customer experience, but as the world continues to lean towards direct-to-consumer offerings, companies are looking for more ways to stand out.