CANPACK Group announced that CANPACK S.A. plans to merge with Giorgi International Holdings S.A. R.L. in Luxemburg, which is currently a direct shareholder of CANPACK S.A. The merger is planned to be executed until the end of 2024 through absorption of Giorgi International Holdings S.A. R.L. by CANPACK S.A. The purpose of the merger is simplification of the internal corporate and shareholding structure – as a consequence of the merger, CANPACK Group Inc. with a seat in the United States of America, will become a direct shareholder of CANPACK S.A.

Mondi Industrial Bags, in collaboration with its customer and cement producer LafargeHolcim, has created SPLASHBAG – a paper-based solution designed to satisfy the need of dealing with materials that are often exposed to wet conditions or environments. The product has been developed as a direct response to the customer’s packaging needs in this area, and is suitable for the protection of moisture-sensitive filling goods, including building materials, chemicals and pharmaceuticals. Having successfully launched in Europe, the product is now gaining traction in many other markets around the world. Based on Mondi`s Advantage Protect sack kraft paper – a grade that offers both a water-repellent surface and high wet tensile strength – the bag maintains high strength even in wet environments. Thanks to its bespoke benefits, within the last year SPLASHBAG has quickly gained global recognition – from Azerbaijan and Bulgaria to France and La Réunion. The key to SPLASHBAG‘s success lies in its enhanced sack kraft paper properties – absorbing less moisture than conventional paper bags and maintaining both integrity and product quality. Click Read More below for additional detail.

First quarter 2022 net income from continuing operations was $16.5 million (0.49 per diluted share) compared to net income from continuing operations of $9.6 million ($0.29 per diluted share) in the first quarter of 2021. Net income from ongoing operations, which excludes special items, was $16.9 million ($0.50 per diluted share) in the first quarter of 2022 compared with $10.1 million ($0.30 per diluted share) in the first quarter of 2021. First Quarter Financial Results Highlights *Earnings before interest, taxes, depreciation and amortization ("EBITDA") from ongoing operations for Aluminum Extrusions of $23.9 million was $10.6 million higher than the first quarter of 2021 *EBITDA from ongoing operations for PE Films of $7.0 million was $0.2 million lower than the first quarter of 2021 *EBITDA from ongoing operations for Flexible Packaging Films of $5.0 million was $4.6 million lower than the first quarter of 2021