Ontario Teachers' Pension Plan has agreed to sell its majority holding in Trivium Packaging to Silgan Holdings and funds affiliated with American Industrial Partners in a deal valuing Trivium at approximately USD 3.4bn. The deal triggers the sale of Ardagh Group's stake of about 42%, from which Ardagh expects about USD 90m in net cash proceeds for reinvestment or debt reduction. Separately, a Luxembourg court lifted an injunction that had blocked Ardagh Holdings from selling shares in Ardagh Metal Packaging, and Ardagh has resumed work with advisers on a possible sale of AMP.
Why this mattersSilgan, with AIP, takes over a major metal packaging competitor, while Ardagh, at 6.0x net leverage, gains about USD 90m and reopens a possible sale of Ardagh Metal Packaging.
- Ontario Teachers' Pension Plan agreed to sell its majority stake in Trivium Packaging to Silgan Holdings and funds affiliated with American Industrial Partners.
- The transaction values Trivium at approximately USD 3.4bn.
- Ardagh Group agreed to sell its entire stake of approximately 42% in Trivium and expects about USD 90m in net cash proceeds.
- A Luxembourg district court summary judge lifted an injunction that had prevented Ardagh Holdings from selling shares in Ardagh Metal Packaging; Ardagh has resumed sale preparations with advisers.
- Ardagh Glass Packaging has proposed decommissioning one furnace at Holmegaard, Denmark, and one at Knottingley, UK.
- Group Q3 2026 revenue rose 11.2% to USD 2.78bn and adjusted EBITDA was USD 392m; net debt to adjusted EBITDA fell to 6.0x from 7.8x.
Buckeye Corrugated (BCI) has opened a new contract packaging and fulfilment facility in Houston, Texas, with more than 60,000 square feet of operating space. The site separates and expands fulfilment work previously run from BCI's existing Houston division, adding to the company's national contract packaging network.
Why this mattersAdds dedicated fulfilment capacity near the Port of Houston, letting BCI bundle corrugated manufacturing with assembly and fulfilment for customers in a single Houston operation.
- BCI opened a dedicated contract packaging and fulfilment facility in Houston, US
- The site has more than 60,000 square feet of operating space
- Services include kitting, labelling, repacking, retail display assembly and palletisation
- The facility is located near the Port of Houston and regional distribution infrastructure
- BCI was founded in 1958 and manufactures corrugated packaging and retail display solutions
- The new site combines with BCI's existing Houston corrugated manufacturing operations
SCA reported third-quarter 2026 EBITDA of SEK 1,631m (USD 164m), up 25% on the second quarter and down 1% year-on-year, as higher kraftliner prices and lower maintenance and raw material costs offset weak pulp and sawn timber markets. Net sales rose 5% year-on-year to SEK 5,248m (USD 528m) on higher delivery volumes, while nine-month EBITDA remained 24% below the same period of 2025.
Why this mattersSequential recovery in containerboard pricing signals improving conditions for European kraftliner producers even as pulp and sawn timber markets stay weak.
- Q3 2026 EBITDA was SEK 1,631m (USD 164m), up 25% from Q2 and down 1% from SEK 1,644m (USD 165m) a year earlier
- Further kraftliner price increases lifted SCA's average containerboard selling prices versus Q2, on robust European demand
- Q3 net sales rose 5% year-on-year to SEK 5,248m (USD 528m) on higher delivery volumes
- EBITDA margin was 31.1% in Q3 2026, against 32.9% a year earlier and 25.3% in Q2 2026
- Q3 operating profit was SEK 1,047m (USD 105m), down from SEK 1,112m (USD 112m) a year earlier and up from SEK 724m (USD 73m) in Q2
- Nine-month net sales fell 3% to SEK 15,141m (USD 1,522m) and EBITDA fell 24% to SEK 4,041m (USD 406m)
Gerresheimer completed the sale of its Centor business on 1 October 2026 at an enterprise value of EUR 1.50bn (USD 1.68bn), as part of a reorganisation of its portfolio. Adjusted EBITDA rose to EUR 102m in the second quarter of 2026 from EUR 67m in the first, on revenue of EUR 578m, below the EUR 614m of the prior-year quarter. A half-year report is due in November 2026 and a third-quarter statement in December.
Why this mattersCompletion closes a EUR 1.50bn step in Gerresheimer's portfolio reshaping, while second-quarter revenue still ran 6% below the prior year despite the EBITDA recovery.
- Centor sale completed on 1 October 2026 at an enterprise value of EUR 1.50bn (USD 1.68bn)
- Q2 2026 adjusted EBITDA rose to EUR 102m from EUR 67m in Q1
- Q2 2026 revenue was EUR 578m, up from EUR 523m in Q1 but below EUR 614m a year earlier
- Half-year financial report due in November 2026, third-quarter statement due in December 2026
Irish startup Swaay Technologies has raised an equity round of more than EUR 2m (USD 2m), led by BVP, to commercialise its direct-to-shape digital printing platform for beverage cans. The technology prints artwork directly onto containers, removing plastic labels and shrink sleeves. The funds will support new roles in Mullingar, Ireland, where Swaay has an initial team alongside one in Quebec, Canada.
Why this mattersLabel-free can decoration could cut short-run costs and simplify compliance with diverging deposit-return and labelling rules across markets.
- Swaay Technologies closed an equity round of more than EUR 2m (USD 2m).
- The round was led by BVP, with participation from the BVP Investor Club.
- Swaay, founded in 2026, is developing a platform for direct-to-shape digital printing that replaces labels and shrink sleeves on beverage cans.
- The funding is earmarked to move Swaay into commercialisation and to add roles in Mullingar, Ireland.
- Swaay has initial teams in Mullingar, Ireland and Quebec, Canada, targeting clients in Europe and North America.
- Co-founder and CEO Ciaran Gorman previously co-founded Bevcraft Group.
The European Council has agreed its negotiating position to exempt businesses placing under one tonne of packaging on the market per year from the requirement to appoint an authorised representative in every EU member state under Extended Producer Responsibility rules. The move follows complaints that registration fees of EUR 200 to EUR 800 per country are pushing some small producers out of the EU market. Trilogue negotiations with the European Parliament, which adopted a separate threshold based on company size the same week, can now begin.
Why this mattersA one-tonne threshold would spare the smallest producers per-country registration costs of EUR 200 to EUR 800, but must be reconciled with Parliament's broader size-based exemption.
- Council mandate exempts producers placing under one tonne of packaging per year from appointing authorised representatives in each member state
- Current EPR registration fees range from EUR 200 to EUR 800 per country
- Parliament's rival position, adopted the same week, exempts firms with fewer than 50 employees and turnover or balance sheet under EUR 10m, until 2035
- Council mandate includes a Commission review clause on the suspension's duration by 31 December 2030 ahead of a 2032 expiry
- A broader Extended Producer Responsibility solution is expected under the forthcoming Circular Economy Act
- Irish presidency ministers Helen McEntee, Darragh O'Brien and Thomas Byrne welcomed the agreement as reducing burdens on small businesses
Eurostat data show the EU generated 81.5 million tonnes of packaging waste in 2024, or 181.0 kg per inhabitant, up 3.2 kg on 2023 and 19.6 kg above 2014 levels. Plastic packaging waste rose to 35.9 kg per person while its recycling rate improved to 42.4%, with wide gaps between member states.
Why this mattersRising per-capita waste despite better recycling rates underlines the gap EU producers and converters must close to meet PPWR reduction and recycled-content targets.
- EU packaging waste generation reached 81.5 million tonnes in 2024, or 181.0 kg per inhabitant, up 3.2 kg year on year
- Per-capita packaging waste rose 19.6 kg between 2014 and 2024
- Paper and cardboard made up 40.8% of packaging waste, plastic 19.9%, glass 18.1%, wood 16.2% and metal 4.8%
- Plastic packaging waste generated per capita was 35.9 kg in 2024, up 0.6 kg on 2023, of which 15.3 kg was recycled
- EU plastic packaging recycling rate rose to 42.4% in 2024 from 41.6% in 2023
- Member state plastic recycling rates ranged from 71% in Latvia to 22.5% in Denmark
UK compliance scheme operators, grouped in the Packaging Scheme Forum, have launched a campaign against calls from retailers and manufacturers to scrap Packaging Recovery Notes (PRNs) and fold them into the Extended Producer Responsibility (EPR) scheme ahead of the Budget. The British Retail Consortium and Food and Drink Federation argue PRNs add cost without improving recycling rates. The PSF counters that USD 127m (GBP 95m) in PRN revenue last year was committed to new UK recycling infrastructure, and that removing PRNs without an alternative risks destabilising funding for recycling.
Why this mattersThe outcome will reshape how UK producers fund recycling infrastructure and could alter compliance costs across the packaging supply chain.
- The Packaging Scheme Forum (PSF), representing 13 of the UK's 15 packaging compliance scheme operators, launched a campaign called Keep Packaging Recycling Working.
- The British Retail Consortium and Food and Drink Federation have proposed folding Packaging Recovery Notes (PRNs) into the UK's Extended Producer Responsibility (EPR) scheme.
- PSF says USD 127m (GBP 95m) in PRN revenue last year was committed to new UK recycling infrastructure and capacity.
- PSF chair George Atkinson said removing PRNs without a viable alternative risks destabilising financial flows into waste management.
- The dispute follows Defra measures reducing 2026 packaging recycling obligations for plastic, steel and wood after a PRN shortage.
- The debate is taking place ahead of the UK Budget.
The Confederation of European Paper Industries has named Francesca Stevens as its new director general, succeeding Jori Ringman, who had held the post since 2019. Stevens moves from Europen, the European packaging and environment organisation, where she was secretary general since 2020, and was nominated by CEPI's board in September 2026. She will lead CEPI's 24-person secretariat on decarbonisation, energy costs and EU regulatory files affecting the European pulp and paper sector.
Why this mattersEuropean pulp and paper producers get a lobby chief from the cross-material packaging side, with Europen and aluminium experience, as energy and decarbonisation files intensify.
- Francesca Stevens appointed CEPI director general, succeeding Jori Ringman, who had been in post since 2019.
- Nomination made by CEPI's board in September 2026.
- Stevens was secretary general of Europen, the European packaging and environment organisation, since 2020.
- She previously held management roles at aluminium groups Arconic and Alcoa.
- She has 25 years of experience representing industry interests to EU institutions.
- She leads a CEPI secretariat of 24 people, working with a board of national association representatives and pulp and paper company executives.
