Elopak has moved up the start date of incoming chief executive Hakon Volldal to 2 November 2026, ahead of the timeline set when his appointment was announced on 15 June 2026. Interim CEO Bent K. Axelsen will revert to chief financial officer, and interim CFO Ola Buaroy returns to his role as director of finance and tax.
Why this mattersThe earlier handover ends Elopak's interim arrangement sooner, returning Bent Axelsen to the CFO role and putting strategy under permanent leadership from November.
- Hakon Volldal becomes permanent CEO of Elopak on 2 November 2026, earlier than originally scheduled.
- The original appointment was announced on 15 June 2026.
- The board confirmed the accelerated timeline via a stock exchange disclosure on 21 October 2026.
- Interim CEO Bent K. Axelsen returns to his role as chief financial officer.
- Interim CFO Ola Buaroy resumes his position as director of finance and tax.
Elopak reported third-quarter 2026 group EBITDA of EUR 51.9m, a 16.8% margin and the highest quarterly figure in its history, on revenue of EUR 308.4m, up 6.5% year on year. Americas EBITDA fell 8.2% to EUR 20.1m as board supply disruption linked to the Nippon incident limited volume growth, while EMEA posted adjusted EBITDA of EUR 44.5m, a 20.4% margin, on revenue up 7.5%.
Why this mattersA leading carton maker's results show European carton demand and pricing holding up while a single supplier disruption still constrains its US growth and margins.
- Q3 2026 group EBITDA was EUR 51.9m at a 16.8% margin, the highest quarterly EBITDA in company history
- Q3 group revenue was EUR 308.4m, up 6.5% year on year (6.0% at constant currency)
- Americas revenue rose 5.9% to EUR 97.5m but EBITDA fell 8.2% to EUR 20.1m, margin 20.6% from 23.8%, on board supply disruption linked to the Nippon incident
- Supply disruption cost EUR 2.6m in Q3 not yet covered by insurance; group margin would have been about 17.5% without it
- EMEA revenue was EUR 218.1m, up 7.5%, with adjusted EBITDA of EUR 44.5m, a 20.4% margin
- Adjusted EPS rose 37.8% to EUR 0.09; leverage held at 2.2x
- Washington's Department of Labor & Industries fined Nippon Dynawave Packaging Company more than $77,000 over the April 2026 incident at its paper mill.
- A worker waded into pulp at about 145 degrees Fahrenheit to close a drain valve and nearly fell into a concealed four-foot sinkhole.
- Regulators cited the company for failing to protect workers from extreme-heat and engulfment hazards.
Oji Holdings has broken ground on a new aseptic liquid-packaging plant in Dong Nai, Vietnam, under its Oji Liquid Pak brand, with total investment of USD 110m (VND 2,800 billion). The 57,000 sqm plant at Long Thanh High-Tech Park is expected to start operations in 2028 with capacity of 8 billion cartons a year and more than 200 new jobs, adding to Oji's existing Vietnamese network of three Ojitex plants and a United Packaging facility.
Why this mattersEight billion cartons a year of new aseptic capacity from 2028 shifts regional liquid-packaging supply closer to Southeast Asian fillers.
- Total investment is USD 110m (VND 2,800 billion)
- Plant site covers approximately 57,000 sqm at Long Thanh High-Tech Park, Dong Nai city
- Groundbreaking took place on 10 October 2026
- Planned annual capacity is 8 billion cartons
- Operations expected to start in 2028
- More than 200 new jobs to be created
- Oji Liquid Pak was established in Vietnam in 2025.
- The plant works alongside IPI, an Italian aseptic carton and equipment maker that joined Oji Holdings in 2023.
- Oji Liquid Pak was established in Vietnam in 2025 as part of Oji Group
- Plant technology draws on more than 40 years of aseptic packaging experience from Italian unit IPI, acquired by Oji Holdings in 2023
- Oji Group already operates Ojitex Vietnam, Oji Interpack and United Packaging in Vietnam
- Oji Liquid Pak is a joint venture between Oji Holdings and Italian aseptic packaging technology group IPI
- First client deliveries are expected in the first half of 2028
- Plant technology draws on more than 40 years of aseptic packaging experience from Oji group company IPI of Italy.
Elopak has rolled out a 10/90 blend of chemically recycled and bio-circular polymer feedstocks across Orkla Home and Personal Care's D-PAK carton range, replacing fossil-based polyethylene coatings without changes to carton format or filling lines. The blend is now standard on OHPC brands Klar, OMO and Comfort in Sweden, Norway and Finland, with Denmark added for the first time.
Why this mattersThe switch shows liquid-carton makers using mass-balance bio-circular feedstocks to cut fossil polymer content ahead of PPWR recycled-content rules without altering filling lines.
- The polymer coating blend is 10% chemically recycled post-consumer plastic and 90% bio-circular material from waste streams such as used cooking oil.
- Feedstocks are allocated via an ISCC PLUS-certified mass-balance chain-of-custody system.
- The blend is now standard across Orkla Home and Personal Care's D-PAK carton portfolio, covering brands Klar, OMO and Comfort.
- The rollout covers Sweden, Norway and Finland, with Denmark added for the first time.
- No changes were required to carton format, converting process or filling equipment.
Elopak has completed a share buy-back programme launched on 9 September 2026, repurchasing 500,000 own shares on Oslo Børs at an average price of NOK 36.4012 per share for a maximum aggregate value of NOK 22,500,000 (USD 2.4m). The shares are intended to cover obligations under the company's long-term incentive plan, taking Elopak's total holding of own shares to 689,585, or 0.26% of share capital.
Why this mattersThe programme covers Elopak's long-term incentive obligations from treasury shares rather than issuance, leaving the capital structure and free float effectively unchanged.
- Elopak repurchased 500,000 shares at an average price of NOK 36.4012 each.
- The programme, launched 9 September 2026, had a maximum value of NOK 22,500,000 (USD 2.4m).
- The shares are earmarked to meet obligations under Elopak's long-term incentive plan.
- Elopak now holds 689,585 own shares, equal to 0.26% of its share capital.
- The buy-back was conducted on Oslo Børs and disclosed under the Norwegian Securities Trading Act.
UFlex has inaugurated a $126 million greenfield Asepto aseptic carton facility at Ain Sokhna, Egypt, with eventual annual capacity of 12 billion packs, taking the Indian group's combined global aseptic capacity to about 24 billion packs a year alongside its Sanand plant in India. The Egyptian plant is expected to start at around 30% utilisation and progressively ramp toward full capacity by around 2030, targeting Europe, Africa, the Gulf, the Americas and the CIS via Suez Canal shipping routes.
Why this mattersA second, closer-to-market aseptic base gives UFlex a route to compete more directly with Tetra Pak, SIG and Elopak in Europe, Africa and the Gulf.
- Investment: $126 million greenfield Asepto plant at Ain Sokhna, Egypt, on a 30-acre site
- Eventual annual capacity: 12 billion aseptic carton packs, matching UFlex's Sanand plant in India
- Combined global aseptic capacity reaches approximately 24 billion packs per year
- Initial utilisation expected at roughly 30%, rising to about 70% in year two and design capacity by 2030
- The plant has entered customer trials, with commercial production planned for late 2026
- Egypt trade access includes COMESA, GAFTA and the African Continental Free Trade Area
- The Ain Sokhna plant is equipped with two Heidelberg Boardmaster printing lines, an SML extrusion line and two IMS slitters.
- Utilisation is now phased at about 30% in year one and 60-70% in year two, with full capacity targeted around 2029-30.
- UFlex reported group revenue of about $1.63 billion for the year ended 31 March, with more than 16,000 employees globally.
- More than $100 million of the $126 million investment has already been spent.
- UFlex frames the Egypt plant as a shift from an India-led export model to multi-location global manufacturing
- The plant uses a Heidelberg Board Master XL 1650 printing line and an SML Triplex extrusion laminator.
- Paper for the plant is supplied by Stora Enso.
- Asepto's existing Sanand, India plant serves over 250 customers in more than 50 countries.
- Utilisation is now guided at 30% in year one, rising to 100% by year three.
- The Ain Sokhna plant uses automated manufacturing machinery
- The Ain Sokhna plant sits in the Orascom Industrial Park within the Suez Canal Economic Zone.
- Installed equipment includes a Heidelberg Boardmaster XL 1650 press, an SML Triplex lamination line and Madern Automation reel handling rated at 160 reels an hour.
- Commercial trials are underway ahead of commissioning, still targeted before the end of 2026.
- The Ain Sokhna plant will use next-generation automated manufacturing machinery
- UFlex's Q1 FY27 consolidated net profit rose 629.6% year-on-year to INR 423.3 crore
- Q1 FY27 revenue rose 37.6% year-on-year to INR 5,366 crore
UK free-range egg producer St. Ewe Eggs has launched a three-product liquid egg range for foodservice customers packed in Elopak Pure-Pak Classic cartons, introduced to the trade in July 2026. The 1kg cartons carry a tethered cap and are positioned as offering longer refrigerated shelf life than shell eggs; the supplier link was arranged by UK converter Agile Box.
Why this mattersThe move shows Elopak's carton format extending from dairy and juice into liquid egg for foodservice, a potential template for further shell-to-carton conversions.
- St. Ewe Eggs launched a three-product liquid egg range (whole, whites, yolks) in July 2026 for the UK foodservice trade
- Products are packed in 1kg Elopak Pure-Pak Classic cartons with a tethered cap
- Cornwall-based converter Agile Box introduced St. Ewe to Elopak, having previously supplied it with cardboard retail egg boxes
- St. Ewe is described as Europe's first B Corp-certified egg packer
- The cartons are cited as extending refrigerated shelf life compared with shell eggs
