Tredegar Surface Protection, a subsidiary of Tredegar Corporation (NYSE:TG) and a leader in high-quality masking films, is excited to announce the launch of Obsidian Automotive Protective Films. Designed to meet the evolving needs of the automotive industry, these innovative films offer unparalleled performance and protection. The Obsidian line includes a range of protective films tailored for various applications: AUTOMOTIVE INTERIOR: Automotive Displays; Augmented Reality Films – Optical film for AR use inside the HUD device; Automotive Glass and plastic cover – 2D/ 3D dashboard, center console and rear seat entertainment; Anti-glare, Anti-reflection, and Anti-fingerprint – Surface coating protection. AUTOMOTIVE EXTERIOR: Automotive Glass - Windshield for AR HUD; Automotive Camera - Surface Protection on camera; Automotive Plastic Sheeting – Body and specific components.

At EUR 2,181.4 million, the consolidated sales of the group were slightly below the previous year's figure (H1 2022: EUR 2,218.5 million). A decrease in the MM Board & Paper division, which was mainly due to volume, was offset by an increase in the MM Packaging division due to acquisitions and prices. The operating result fell by EUR 181.0 million from EUR 285.0 million to EUR 104.0 million. This decline is mainly due to extensive shutdowns at MM Board & Paper due to market and remodeling. The Group's operating margin was therefore 4.8% (H1 2022: 12.8%). The profit for the period fell from EUR 205.8 million to EUR 63.3 million.

Greif, Inc. announced that it has entered into a definitive agreement to divest its 50% share in the Flexible Packaging joint venture, or "FPS" to Gulf Refined Packaging (GRP) for a total cash consideration of $123 million, subject to certain conditions and post-closing adjustments. Greif expects to use the proceeds for debt repayment. "While we have worked closely with our joint venture partner, each partner held different views of the appropriate path forward for the FPS business," said Pete Watson, Greif's President and Chief Executive Officer. "As a result, we entered into a process to determine a single owner and utilized our disciplined capital allocation framework that resulted in an agreement to sell our ownership stake to GRP for significant value. I would like to thank our FPS colleagues for their hard work over the last 11 years and for their continued commitment to the business during the transition ahead."