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آرشیو برچسب های: Graphic Packaging

Graphic Packaging appoints Mark Connelly as new SVP

Graphic Packaging Holding Company, a leading provider of consumer packaging, today named Mark Connelly Senior Vice President, Investor Strategy and Development. This new role augments Graphic Packaging’s outreach capability with an aim to expand and diversify the company’s investor network globally.

Connelly brings more than 20 years of experience as a securities analyst and strategy consultant. He will report to Graphic Packaging’s Chief Financial Officer Stephen Scherger and work closely with Melanie Skijus, who will continue to lead the company’s investor relations function.

“In the past several years, we dramatically reshaped our company to offer a full spectrum of sustainable packaging for consumers’ everyday needs, both at home and on the go,” said Michael P. Doss, President and Chief Executive Officer at Graphic Packaging Holding Company. “Mark’s perspective, rooted in more than two decades of critical industry analysis, will help us fine-tune and extend the reach of this exceptional value creation story.”

 

 

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Santiago Arbelaez named Chairman of International Paper’s Paper and Packaging Board

International Paper announces the appointment of Santiago Arbelaez as the Chairman of the Paper and Packaging Board (P+PB) Board of Directors. This leadership appointment was made by USDA Secretary Tom Vilsack and marks a pivotal moment for the organization.

As the Chairman, Arbelaez will collaborate closely with the P+PB leadership team and the eight-member Board of Directors responsible for funding the Paper & Packaging – How Life Unfolds® campaign. The campaign is a national promotion program centered around sustainability within the paper and packaging sectors.

In addition to this appointment, Arbelaez will continue serving as the Vice President of Strategy for International Paper’s Industrial Packaging business, bringing a wealth of experience and strategic insight to his role as Chairman of the P+PB Board.

 

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Graphic Packaging to permanently decommission CRB machine at its Kalamazoo mill

Graphic Packaging Holding Company, a leading consumer packaging company, announced it will permanently decommission the K3 coated recycled paperboard (CRB) machine in Kalamazoo, Michigan. The K3 machine is one of three CRB machines at the Kalamazoo facility and is the company’s longest-running machine. K3 ceased operation on July 1 and today’s announcement reflects the decision to permanently shut down the 125,000-tons per annum machine.

Removing higher-cost, less efficient production capacity is part of Graphic Packaging’s CRB optimization plan first announced in 2019 alongside the transformational investment in a new, state-of-the-art K2 CRB machine. Permanently decommissioning the older machine is the company’s next step of network optimization. With K2 reaching expected quality, cost improvement and volume commitments ahead of schedule, the permanent decommissioning of K3 supports more efficient resource use and margin enhancement goals for the CRB network, while continuing to service increased customer demand for high quality coated recycled paperboard.

The machine decommission is not expected to have any impact on the company’s 2023 projected Adjusted EBITDA of $1.9 billion, the midpoint of the previously provided guidance range.

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Lessebo Paper signs new agreement with Swedish company Addbrand

Lessebo Paper, one of the world’s most environmentally friendly boutique paper mills, now enters into a new wholesale agreement with the Swedish company Addbrand, a graphic reseller in the Nordics for graphic products and services.

Lessebo Paper, one of the world’s most environmentally friendly boutique paper mills, has inked a new wholesale contract with the Swedish firm Addbrand, a distributor specialising in selling graphic products and services aimed at printers, branding companies, and packaging producers in the Nordic graphic intermediary sector.

During 2022, Lessebo Paper launched Lessebo Colours, a new series of environmentally friendly papers in a palette consisting of 48 carefully curated shades, specially designed to create high-quality packaging, for maximum expression with minimal footprint.

 

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Graphic Packaging to acquire Bell Incorporated

Graphic Packaging Holding Company has entered into a definitive agreement to acquire Bell Incorporated, a well-capitalized U.S. packaging provider. The proposed acquisition is expected to add approximately $200 million in sales, $30 million in Adjusted EBITDA and will support strategic priorities of increasing integration rates and expanding customers and categories. Annual synergies of approximately $10 million are expected within 24 months of closing. The transaction includes three well-capitalized packaging facilities in the Midwest that consume 95,000 tons of paperboard annually.

The transaction is expected to close in the Q4 2023, subject to regulatory approvals and other customary closing conditions.

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