Latest news with #packaging
Yahoo
36 minutes ago
- Business
- Yahoo
Packaging Corp forecasts profit below estimates on export, freight pressures
(Reuters) -Packaging Corp of America forecast third-quarter profit below Wall Street estimates on Wednesday, hurt by rising freight costs and weak export containerboard sales amid global trade uncertainty. The Lake Forest, Illinois-based company specializes in delivering paper and packaging products catering to a range of sectors, including the food and beverage industry, paper manufacturing, and retail commerce. While demand for packaging goods is recovering from a post-pandemic slowdown, sticky inflation and cautious consumer sentiment have pressured sales, especially while its customers navigate trade uncertainties due to tariffs. CEO Mark Kowlzan said pricing in both packaging and paper will remain flat in the third quarter, while freight costs will rise due to higher rail rates. The company expects third-quarter profit of $2.80 per share, compared with analysts' average estimate of $2.92 per share, according to LSEG data. Packaging Corp's net sales rose slightly to $2.17 billion in the quarter ended June 30, from $2.07 billion a year earlier. Analysts on average estimated $2.19 billion, according to data compiled by LSEG. Its adjusted profit for the second quarter came in at $2.48 per share, compared with estimates of $2.44. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
7 hours ago
- Business
- Bloomberg
Apollo-Backed Packaging Firm Adapa Kicks Off Debt Overhaul Talks
Austrian packaging company Adapa GmbH is working with advisers to overhaul its debt, according to people familiar with the matter, three years after its takeover by credit firms led by Apollo Global Management Inc. Adapa, formerly known as Schur Flexibles, is working with law firms Sidley Austin and Hengeler Mueller in negotiations, the people said, asking not to be identified discussing private information. Creditors are working with Milbank LLP, and the group has started to engage with the company on a proposal, the people said.
Yahoo
12 hours ago
- Business
- Yahoo
HEIDELBERG to acquire POLAR Mohr brand rights and technology
German engineering company Heidelberger Druckmaschinen (HEIDELBERG) has finalised an agreement with the POLAR Group to acquire the technology, intellectual property (IP), and brand rights associated with the POLAR Mohr brand, along with additional assets. This transaction is anticipated to be completed within the coming weeks. Upon completion, HEIDELBERG will gain exclusive global sales, service, and marketing rights for POLAR Mohr's post-press products. This acquisition is set to strengthen HEIDELBERG's position as a systems integrator in the packaging market, particularly in growth regions such as Asia, South America, and the Middle East. The partnership between HEIDELBERG and POLAR Mohr, which dates back to the 1950s, has seen POLAR Mohr developing and manufacturing systems while Heidelberg has managed significant sales and service activities. HEIDELBERG plans to incorporate POLAR Mohr's postpress systems into its solutions portfolio, focusing on automation, digitalisation, and workflow integration to enhance productivity in packaging and label production. The POLAR Group's companies, under the ownership of SOL Capital Management, will continue to collaborate with HEIDELBERG for the future development, production, and assembly of POLAR Mohr systems. HEIDELBERG CEO Jürgen Otto said: 'HEIDELBERG is aiming to achieve targeted growth through M&A [merger and acquisition] activities in attractive market segments. 'This acquisition underscores our credentials as a full-range supplier for our customers in the packaging and label industry, including service, and gives us exclusivity in a growing market. 'As a systems integrator, we cover the entire value chain of a packaging print shop - on a fully integrated and networked basis - to ensure production is highly productive. POLAR Mohr systems play a key role in this context.' "HEIDELBERG to acquire POLAR Mohr brand rights and technology" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Avery Dennison forecast third-quarter profit below estimates
(Reuters) -Packaging products maker Avery Dennison forecast third-quarter earnings below Wall Street expectations on Tuesday, as uncertainty from U.S. President Donald Trump's fluctuating tariff policy mounts. The Trump-led trade war has stoked inflationary challenges, causing an increase in raw material costs, while concerns around growth have made consumers cautious, which in turn has hurt demand for all industries, including packaging. Avery, which caters to customers as diverse as retail giant Walmart and Spanish soccer club Real Madrid, switched its full-year forecast with a quarterly outlook during the first quarter, citing macroeconomic uncertainty. "While trade policy changes led to lower sourcing demand for apparel and general retail categories in the quarter, growth in our high-value categories and productivity in the base business offset the impact from tariffs," said Deon Stander, CEO. Avery said it realized about $30 million in pre-tax savings from restructuring, net of transition costs during the first half of the year, and incurred roughly $13 million in pre-tax restructuring charges. The Ohio-based firm, expects its third-quarter adjusted profit per share to be between $2.24 and $2.40, compared with the average of analysts' estimates of $2.41, according to data compiled by LSEG. For the second quarter, it posted an adjusted profit of $2.42 per share, flat from a year earlier. The overall second-quarter revenue fell nearly 1% to $2.22 billion from a year earlier.
Zawya
a day ago
- Business
- Zawya
Tetra Pak Egypt Area, Zulfa launch $16.3mln greenfield project in Libya
Arab Finance: Tetra Pak Egypt Area, a global leader in food processing and packaging solutions, has launched its first greenfield project in Libya, a key market within Egypt Area, in cooperation with Zulfa, a subsidiary of Alushibe Group, as per an emailed press release. This comes as part of Tetra Pak Egypt Area's strategy to expand its presence in new, high-potential markets, with investment worth €14 million to introduce advanced packaging and processing solutions to the Libyan market for the first time. As finalized by agreement in late 2024, the 140,000-square-meter facility in Benghazi is set to become one of the region's most advanced industrial sites. Operations are scheduled to commence by early 2026, with product rollouts in the milk and juice categories planned for the same period. The first phase of the facility will see fully integrated processing and packaging units operating within an L3 framework, housing mixing systems, UHT and pasteurization treatments, and three production and filling lines. Wael Khoury, Managing Director of Tetra Pak Egypt Area, stated: 'Launching our first greenfield project in Libya is a major step forward in Tetra Pak Egypt Area's strategy to unlock high-growth markets. Libya holds significant potential, and this investment reflects our commitment to contributing to economic and industrial development.' 'Partnering with Zulfa is pivotal to our approach. Together, we're combining Tetra Pak's global expertise with Zulfa's deep local knowledge and strong market presence. This collaboration is built on a shared vision to drive innovation and sustainable progress in Libya's food industry,' Khoury added. For his part, Walid Shehata, Sales Director at Tetra Pak Egypt Area, said: 'This project builds on the solid foundation of our market share in Libya and positions us to capture emerging opportunities as the market evolves.' Hisham Rizk, Sales Director & Business Development Director at Tetra Pak Egypt Area, commented: 'Collaborating with Zulfa empowers us to deliver tailored solutions that meet Libya's unique needs and unlock new avenues for growth.' © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
