Cascades Inc. announced a $21-million investment in its Cascades Inopak (Drummondville) and Plastiques Cascades (Kingsey Falls) plants in order to acquire equipment enabling it to increase its production of food packaging, primarily for the fresh protein market. The Cascades Inopak plant in Drummondville will benefit from a $15-million investment. This will be used to expand the existing building and to install a high-performance rPET film manufacturing line that is unique in Canada and which includes a built-in, cutting-edge decontamination unit. This will make it possible to significantly increase the production capacity of Integral TM packaging, which is made from recycled PET, is recyclable and allows food in certain markets—such as fresh protein—to be kept for double the amount of time, thus radically reducing food waste. Nearly $6M will be invested in the Kingsey Falls Plastiques Cascades plant to modernize equipment, notably by adding a new extrusion line and two recycling lines, which will increase the production capacity by 25% and double the plant's internal recycling capacity. The Kingsey Falls plant produces EVOK ® , the first polystyrene foam tray in North America to contain at least 25% recycled materials. These investments will facilitate an eventual increase in this percentage and, by extension, further reduce the CO 2 emissions of products marketed by our customers. Click Read More below for additional information.

Today we announce a series of ambitious climate targets. This includes a science-based target which requires at least a 40% reduction of CO2 emissions per tonne of product by 2030, compared to 2019 levels, and a commitment to reach Net Zero* emissions by 2050. These targets will be validated by the Science Based Targets initiative** as being in line with the goals of the Paris Agreement. To further underline our ambition and commitment, we are also announcing our membership of the UN’s Race to Zero. "I’m delighted DS Smith has joined the UN’s Race to Zero. It is great to see a company with an ambitious 2030 target and commitment to reach Net Zero by 2050. DS Smith is making great progress against its previous carbon reduction targets, tackling the challenges associated with decarbonising the paper and packaging sector. Business plays a key role in driving the UK’s transition to a low carbon economy, with over 40 of the FTSE100 now signed up to the UN’s Race to Zero, I hope this announcement inspires other companies in the sector to take action." — Andrew Griffith MP, former business advisor to the PM and current UK Net Zero Business Champion

Net sales in the second quarter were $3,040 million compared to $3,109 million in the second quarter of 2023 reflecting higher global beverage can shipments offset primarily by the pass through of $94 million in lower material costs and unfavorable foreign currency of $13 million. Income from operations was $379 million in the second quarter compared to $367 million in the second quarter of 2023. Segment income in the second quarter of 2024 was $437 million compared to $414 million in the prior year second quarter driven by improved results in global beverage operations. Commenting on the quarter, Timothy J. Donahue, Chairman, President and Chief Executive Officer, stated, "The Company performed well during the quarter, led by strong results in each of the global beverage businesses. Benefitting from our broad geographic presence and strategic customer alliances, beverage segment income improved by 21% in the second quarter on a combined global basis. Beverage can shipments improved 6% globally in the second quarter, including 9% in North America. Beverage can shipments in Europe and Latin America were also strong and exceeded longer-term expectations of low-to mid-single digit volume growth.