Coated paper producer Verso signed a definitive agreement to sell its two mills in the US to Pixelle Specialty Solutions.
The first mill is located in Androscoggin in Jay, Maine, and the other Stevens Point mill is in Wisconsin.
The company’s board of directors approved the $400m deal. It is still subject to approval from the company’s stockholders, regulatory and other customary approvals.
Global food packaging company Sabert acquired sustainable food and beverage packaging manufacturer LBP Manufacturing (LBP).
The acquisition is expected to increase Sabert’s annual sales to over $900m. The company’s global workforce will also reach approximately 3,000.
JPMorgan Chase Bank, Wells Fargo Securities, SunTrust Robinson Humphrey and Nomura Securities International will fund the deal.
Visual packaging company HLP Klearfold expanded its recycled polyethene terephthalate (rPET) portfolio with the launch of a 100% post-consumer recycled (PCR) content plastic folding carton.
The new Klearfold RPET100 will support brands in achieving their goal of using plastic packaging with up to 100% PCR content.
HLP Klearfold used custom extruders and locally sourced post-consumer PET waste to produce rPET with 100% PCR.
North American flexible packaging company TC Transcontinental agreed to sell its paper and woven polypropylene packaging operations to Hood Packaging.
The deal is valued at C$239m ($180m) and is subject to working capital adjustments and regulatory approvals.
The operations generated approximately C$286m ($215m) in revenues during the fiscal year that ended on 27 October.
University of Sussex student Lucy Hughes developed biodegradable plastic using fish waste and locally sourced red algae.
The translucent bioplastic MarinaTex is a flexible sheet material is suitable for single-use plastic packaging applications.
The production of the material requires only ‘little energy and temperatures below 100°C’. The proteins drawn out from organic fish waste such as offal, blood, crustacean and shellfish exoskeletons, fish skins and scales are bonded through a unique red algae formula.
UK supermarket plastic rose to over 900,000 tonnes a year, with seven out of the top ten chains increasing their plastic footprint, according to a report by International non-governmental environmental organisations (NGO) the Environmental Investigation Agency (EIA) and Greenpeace.
The report, ‘Checking out on plastics II: Breakthroughs and backtracking from supermarkets,’ reveals that big brands that supply supermarkets were a major reason behind the rise in plastic packaging with the supermarkets failing to force their suppliers to take action.
Only Tesco was found to have provided suppliers with an ultimatum to cut excessive plastic or face products being delisted.
UK supermarket chain Tesco revealed plans to remove one billion pieces of plastic from its products across the UK stores by 2020.
The move is a part of the retailer’s 4Rs ‘Remove, Reduce, Reuse, Recycle’ plan.
According to the strategy, Tesco will eliminate non-recyclable and excess packaging across its operations.
UK supermarket chain Morrisons announced it will stop using black plastic packaging for its own-brand food and beverage products.
The supermarket chain said it will use plastics that are recyclable and consist of 85% recycled content.
If successful, the initiative will alleviate the recycling of approximately 4,000 tonnes of packaging every year.