British Government invests £20m in innovation
The UK Government-sponsored Technology Strategy Board has announced it will invest £20m to develop technologies, products and systems incorporating new technology.
Pataks Foods and McCain Foods are among a group of partners working on a project to develop ready meal packaging that is funded by the scheme.
Pataks Foods and McCain Foods will work with API Group, Optek Systems, The Needham Group, Leeds University and Uvasol, who will lead the project.
60 jobs could go at Finnish Huhtamaki plant
Huhtamaki is reviewing its European rigid packaging business, which could lead to the loss of 60 jobs at its plant in Hämeenlinna, Finland, it was announced this week.
Finnish-owned Huhtamaki has already ceased production of rigid plastic consumer goods packaging in the UK, owing to volume decline and increases in manufacturing and energy costs.
The company will still supply UK customers with specific, mainly paper-based products.
Amcor profits fall
Global packaging giant Amcor posted a 51.5% fall in profit and said a global slowdown could hurt sales in the coming year.
Net profit for the year to June 30 fell to $258.8m, down from $533.7 in the previous year, the company announced this week.
Earnings before interest and tax rose 9.4%, while Amcor's full-year revenue fell 4.9% to $9.24bn.
Analysts had expected net profit at Amcor to come in at $364.1m for the reporting period, according to a survey of ten analysts by Thomson Reuters.
The same survey forecast net income of $398.7m in fiscal year 2009.
Amcor CEO Ken MacKenzie put the figures down to a slow down in global economies but pointed to 'extensive programmes' in all business units 'to help ensure the momentum of the past 18 months continues into the current year'.
Halewood forced to change Red Square labels
Halewood International is being forced to change the packaging of a vodka based drink, Red Square Reloaded, to make clear that the drink contains alcohol.
Following a complaint to the UK Independent Complaints Panel by a member of the public concerned that the label is misleading, the company will now have to make clear the presence of alcohol on each bottle.
Halewood International argued that the packaging features clear references to vodka.
The panel hears complaints under the Portman Group's code of practice on the naming, packaging and promotion of alcoholic drinks. The code states that the alcoholic nature of a drink should be communicated with absolute clarity on its packaging.
By Ozge Ibrahim
