Feb. 20, 2024 – Graphic Packaging Holding Company today reported results for the fourth quarter and full year 2023.
خواندن ادامه مطلبآرشیو برچسب های: Graphic Packaging Holding Company
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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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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.