Huhtamaki has completed the acquisition of Ajanta Packaging

Net sales for the third quarter were a record $1.32 billion, an increase of $115.9 million, or 9.6 percent, from last year’s quarter. The improvement in sales was a result of higher selling prices, largely driven by rising raw material prices; sales added from acquisitions, net of divestitures; and the positive impact of foreign exchange. Gross profits were a record $250.9 million in the third quarter, an increase of $15.5 million or 6.6 percent, compared with $235.4 million in the same period in 2016. Gross profit as a percentage of sales declined to 18.9 percent, compared with 19.5 percent in the same period in 2016. The gross profit percentage reduction was primarily due to higher raw material and other operating costs offset by manufacturing and procurement productivity. Third-quarter selling, general and administrative expenses increased $8.7 million from the prior year to $130.3 million. This increase was driven by wage inflation and acquisition-related expenses. Click Read More below for additional information.

In order to better serve it’s growing customer base ePac Flexible Packaging, the leader in fast time to market custom printed finished pouches and roll stock, has announced an expansion in operations to serve its rapidly growing customer base. Throughout 2020 ePac has been adding new manufacturing facilities in North America, expanded internationally, and added printing and finishing equipment to its existing operations. These expansion projects will continue to run through the balance of 2020 and into 2021. With its core mission to serve locally based small and medium-sized brands, the additional capacity will drive down lead times while enabling the company to also handle longer run length jobs.

Klabin, the largest producer and exporter of packaging paper and sustainable paper packaging solutions in Brazil , held, today (21/9), the inauguration ceremony of Puma II, a project that marked the expansion of the Puma Unit, in Ortigueira (PR). This is the largest investment in the Company's history and the largest private investment ever made in the State of Paraná. With an investment of R$12.9 billion for the installation of two new paper machines, the MP27 and MP28, both in operation and with a total production capacity of 910 thousand tons of paper per year, Puma II reinforces the integrated business model , diversified and flexible company. Announced in 2019, the Puma II Project is part of Klabin's biggest growth cycle in its 124-year history. The first phase, completed in August 2021, included the construction and start-up of Paper Machine 27 (MP27), which manufactures the innovative Eukaliner®, the world's first kraftliner paper made 100% with eucalyptus fiber.