US-based paper and packaging company International Paper considered acquiring Smurfit Kappa, in a bid that could value the Irish packaging producer at approximately €8bn.
This is in line of a series of acquisitions of European companies by US rivals as the dollar’s recent gains make these companies cheaper.
International Paper considered an offer at approximately €36 a share if it did make a proposal, Sky News reported citing a source.
Packaging firm Ardaghis was close to finalising its €3bn acquisition of Verallia, the glass packaging unit of manufacturing company Saint Gobain.
Saint Gobain has been considering the sale of Verallia as part of the reorganisation of its business portfolio.
Verallia employs 10,000 people and operates manufacturing plants in 13 countries.
US tobacco companies planned to sue the Food and Drug Administration (FDA) over recent guidelines about labelling of tobacco products.
The companies, including R J Reynolds Tobacco, Altria Group and Lorillard Tobacco have filed a lawsuit in the US District Court for the District of Columbia claiming that the guidance given by FDA violates their free-speech rights by mandating pre-approval of labelling changes, The Associated Press reported.
Since 2009, the FDA has been given rights to regulate tobacco including the power to pre-review new tobacco products that are significantly different from older ones existing in the market.
Corrugated container company Pratt Industries acquired food and agricultural packaging firm Robert Mann Packaging for $60m.
With this investment, Pratt has made a major expansion into California as it secures access to manufacturing sites stretching from New York to the West Coast.
Robert Mann Packaging currently operates more than 12 facilities in the western US and Mexico, including a 350,000ft² box-making plant in Salinas.
The Indian Government planned to increase the size of pictorial warnings on the packages of tobacco products in the country.
This comes after former chairman of the Indian Parliamentary Committee of Subordinate Legislation Dilip Gandhi and a member of the panel Shyam Charan Gupta, made statements questioning the link between tobacco products and cancer.
Last October, the country’s health ministry announced plans to push tobacco companies to ensure health warnings cover 85% of the surface of packs, up from 20% now, Reuters reported.
Tetra Pak launched its fully renewable Tetra Rex Bio-based package, following its successful introduction with Finnish dairy Valio.
Said to be the world’s first fully renewable package, Tetra Rex Bio-based cartons are manufactured from a combination of plastics derived from sugar cane and paperboard.
Tetra Pak claims that the plastics used in package can be traced back to their origin such as the Forest Stewardship Council certified paperboard.
Semo Packaging developed a new Fresh’Closure re-closable mono-material solution for food packaging.
Fresh’Closure has been designed with Semo Packaging’s drawstring system and allows easy opening and closure of food packs.
Food products not properly preserved are at risk from humidity, dirt or mould and can cause possible health problems in people when consumed.
Members of the European Parliament (MEPs) voted in favour of plans for labelling the calorie content with nutritional requirements on alcoholic beverages.
The move calls for a new EU Alcohol Strategy that will focus on alcohol consumption among minors and consider EU-wide labelling to discourage drunk driving and drinking while pregnant.
MEPs call on the European Commission to immediately begin work on the new EU Alcohol Strategy, which will be implemented during the period between 2016 and 2022.