Smurfit Kappa has today announced new targets to further reduce its fossil CO2 emissions, including its ambition to reach at least net zero emissions by 2050. It has also increased its existing intermediate 2030 CO2 reduction target by 15 percentage points to 55%, in comparison to the 2005 baseline. The company will have these targets validated by the Science Based Target initiative as being in line with the objectives of the Paris Agreement. Smurfit Kappa has been a market leader in sustainability since 2005. Before today’s announcement, the company had already achieved a reduction in CO2 emission intensity of 32.9% on its 2030 target of a 40% reduction. This impressive achievement has resulted from the successful implementation of key projects that form part of the company’s medium-term strategic plan. One such project was the installation of an industry-leading recovery boiler at the company’s Nettingsdorf Paper Mill in Austria which began operating in June of this year. The new boiler is set to cut CO2 emissions by an additional 40,000 tonnes, which translates into an additional 1.5% reduction in CO2 emissions across the business.

Silvernail has two decades of experience leading global companies in the manufacturing and technology sectors. He joins IP from KKR & Co., Inc., a global investment firm, where he served as an executive advisor. Silvernail served as the Chairman and CEO of Madison Industries, one of the world's largest privately held companies. Prior to that, Silvernail served as Chairman and CEO of IDEX Corporation from 2011 to 2020. Employee engagement reached best-in-class performance and total shareholder return grew by more than 500% during his tenure at IDEX. Silvernail previously held executive positions at Rexnord Industries, Newell Rubbermaid and Danaher Corporation. He currently serves on the Board of Directors of Stryker Corporation. International Paper Lead Director Chris Connor said, "Andy is an experienced CEO with an extensive track record for creating value. His strategic agility, core values and drive for results align with and will enhance IP's outstanding leadership team. We are confident that he is the right person to build on the success achieved under Mark Sutton's leadership."

Fort Dearborn Company today announced that it has acquired Hammer Packaging Corporation. The combined organization takes advantage of Hammer’s state-of-the-art technology to enhance Fort Dearborn’s leadership position in the decorative label and packaging marketplace by further expanding the company’s geographic footprint, capacity and capabilities. With two facilities located in West Henrietta, NY and Rochester, NY, Hammer Packaging has a strong reputation for delivering innovation and quality product to a loyal and valued customer base. The combination will increase both companies’ capabilities to provide an even higher level of product and service offering to customers. The company’s product offering includes: cut & stack, in-mold, pressure sensitive, roll-fed, shrink and stretch sleeve labels as well as flexible packaging.