Mercer International has reached restructuring support agreements with holders of more than 87% of its senior notes and a majority of common shares to cut debt via a prepackaged Chapter 11 filing. The plan addresses USD 1.275bn of senior notes, exchanging about USD 1.1bn for equity and cutting annual cash interest by about USD 96m, alongside USD 400m of new fully backstopped capital. Mercer expects to file in the US Bankruptcy Court for the Southern District of Texas, with plan confirmation about 45 days later and completion targeted by end-2026.
Why this mattersThe debt-for-equity swap hands control to noteholders, leaves existing shareholders with 8.5% of the common stock and gives the pulp and lumber producer no bond maturities until 2031.
- Restructuring support agreements cover more than 87% of senior notes and a majority of common shares
- USD 1.275bn of senior notes addressed, with about USD 1.1bn to be exchanged for equity, an 88% cut to senior-note debt
- Annual cash interest reduced by approximately USD 96m, with no bond maturities until 2031
- USD 400m of new capital to come from a fully backstopped rights offering of USD 420m of new senior secured notes, including USD 20m of original issue discount
- Existing common shareholders to receive 8.5% of new common stock and 3.5% of new convertible preferred stock; existing shares cancelled when the plan takes effect
- Prepackaged Chapter 11 cases to be filed in the US Bankruptcy Court, Southern District of Texas; confirmation expected about 45 days after filing, completion targeted by end-2026
Graphic Packaging reported Q3 2026 net sales of USD 2.192bn against USD 2.190bn a year earlier, while net income fell to USD 22m from USD 142m and adjusted EBITDA to USD 289m from USD 383m, a 13.2% margin against 17.5%. The company is adding producer-price-index clauses for non-paperboard inflation and moving from semi-annual to quarterly pricing openers as contracts renew, with about one-third renewing each year. It reaffirmed 2026 adjusted cash flow guidance of USD 600m-700m and expects pricing improvements in the fourth quarter and through 2027.
Why this mattersQuarterly pricing openers shorten the lag before input-cost inflation, now put at USD 170m for 2026, reaches customer prices, at the cost of less price stability for buyers.
- Contracts are moving from semi-annual to quarterly pricing openers on renewal; about one-third of contracts renew each year
- Q3 2026 net sales were USD 2.192bn, versus USD 2.190bn in Q3 2025
- Net income fell to USD 22m (USD 0.07 per diluted share) from USD 142m (USD 0.48) a year earlier
- Adjusted EBITDA fell to USD 289m from USD 383m; margin 13.2% against 17.5%
- Pricing actions have generated USD 60m in-year, a USD 150m run rate; full-year input-cost inflation estimate raised to USD 170m from USD 150m
- Full-year structural cost savings estimate raised by USD 5m to about USD 90m; Waco recycled paperboard sales expected to exceed 100,000 tons in 2027
SIG Group reported third-quarter revenue of EUR 843m, up 7.2% at constant currency, with adjusted EBITDA margin improving to 25.3% from 24.0% a year earlier. The aseptic carton packaging group raised its full-year adjusted EBIT margin guidance, citing stronger profitability and cash generation. Nine-month revenue reached EUR 2,402.5m, up 3% at constant currency, with growth led by the Americas and IMEA while Europe revenue declined 1%.
Why this mattersSIG's growth comes from the Americas, IMEA and Asia-Pacific, while Europe, its largest region at EUR 749.4m of nine-month revenue, shrank 1%.
- Q3 2026 revenue reached EUR 843m, up 7.2% at constant currency; full-year adjusted EBIT margin guidance raised
- Q3 adjusted EBITDA margin rose to 25.3% from 24.0% a year earlier
- Nine-month revenue was EUR 2,402.5m versus EUR 2,347.5m in 2025, up 3% at constant currency
- Nine-month adjusted EBITDA rose to EUR 585.5m from EUR 556.3m, with margin up to 24.4% from 23.7%
- Aseptic carton revenue for nine months was EUR 1,913.3m against EUR 1,838.3m, up 4.2% at constant currency
- Americas nine-month revenue grew 6.1% at constant currency to EUR 677.6m while Europe fell 1% to EUR 749.4m
Straub Verpackungen officially opened its new Plant 3 in Bräunlingen, Germany, in October 2026, adding 19,000 square metres to relieve crowded production at its main site. The hall, with a green roof and photovoltaic system, houses a 55.8-tonne Göpfert G-Cut flatbed die-cutter rated at up to 6,500 sheets per hour. The family-owned converter plans to move some machines from Bräunlingen and Blumberg into the plant, an investment management links to the coming generational change.
Why this mattersThe plant gives a family-owned German converter room to separate crowded flexo, inliner and die-cutting operations and to bring in machines from its Blumberg site.
- Plant 3 in Bräunlingen covers 19,000 square metres.
- Official opening took place in October 2026.
- The Göpfert G-Cut flatbed die-cutter weighs 55.8 tonnes and measures roughly 7 x 4 x 3 metres.
- The die-cutter handles a maximum sheet format of 2,100 x 1,300 mm at up to 6,500 sheets per hour and 500 tonnes cutting force.
- The new hall has a green roof and photovoltaic system.
- Earlier investments include Plant IV for digital printing in 2018 and a logistics centre in 2020.
UPM-Kymmene's partial demerger of its plywood business was entered in the Finnish Trade Register on 31 October 2026, moving UPM Plywood's assets and liabilities into the newly formed WISA Group Plc. Nasdaq Helsinki approved WISA Group shares for its regulated market, with trading scheduled to start on 2 November under the ticker WISA; UPM shareholders receive one WISA share for each UPM share held.
Why this mattersPlywood now sits in a separately listed company rather than a UPM business unit, giving customers and suppliers a new counterparty while UPM's own share count stays unchanged.
- Demerger registered in the Finnish Trade Register on 31 October 2026
- Nasdaq Helsinki approved admission of WISA Group shares; trading scheduled from 2 November 2026 under ticker WISA, ISIN FI4000603345
- Shareholders receive one new WISA Group share per UPM share held; UPM treasury shares excluded
- UPM continues trading under ticker UPM with new ISIN FI4000603337; its share count is unchanged
- Demerger was approved by UPM's board in April and by shareholders at an extraordinary general meeting on 31 August 2026
Nova Conpel, part of Paraíba-based Grupo DuraMais, asked Brazil's antitrust regulator Cade on 26 October 2026 to approve its purchase of Suzano's Rio Verde paper mill in Suzano, São Paulo state, which Suzano closed in January 2026 with the loss of 90 jobs. The mill transfers as a going concern, including land, two paper machines, a maculatura rewinder, boilers and effluent treatment, and DuraMais plans to use it to produce maculatura, a heavy paper for tissue and towel roll cores. The price is confidential in the filing.
Why this mattersSuzano disposes of a mill it had already closed, while DuraMais gains tube-core paper capacity in São Paulo state without building new plant.
- Nova Conpel, part of Grupo DuraMais, filed with Cade on 26 October 2026 to buy Suzano's Rio Verde mill in Suzano, São Paulo state
- Suzano closed Rio Verde, its smallest mill in the segment, in January 2026 after a review of its mills, with 90 job losses
- The deal is a going-concern transfer covering the site, Voith MC1 and Cavalari MC2 paper machines, a maculatura rewinder, boilers, effluent treatment and existing contracts
- DuraMais plans to produce maculatura, a heavy, generally unbleached paper used for tube cores in toilet and towel rolls
- The property transfers under a fiduciary lien in Suzano's favour until payment; the deal value is restricted in the Cade filing
Metsä Group has appointed Jukka Flinkman as VP, Mill Manager of its Äänekoski bioproduct mill, effective 1 March 2027. He joins Metsä Fibre from UPM, where he was Director, Operations at the Rauma paper mill. Antti Eskola will serve as interim mill manager from 14 November 2026 until the handover.
Why this mattersMetsä Fibre recruits its Äänekoski mill head from UPM's Rauma operations, with an interim manager covering the gap until March 2027.
- Jukka Flinkman becomes VP, Mill Manager at Metsä's Äänekoski bioproduct mill effective 1 March 2027
- He moves from UPM, where he was Director, Operations at the Rauma paper mill
- Previously Production Manager at UPM's Kymi pulp mill
- Outgoing manager Janne Rantanen is leaving Metsä Group for a role outside the company
- Antti Eskola serves as interim Mill Manager from 14 November 2026 to 28 February 2027
- Metsä Fibre recorded sales of EUR 2.6 billion in 2025 and employs about 1,400 people
Ball is investing in a new beverage can plant in Baruth, Germany, to serve EMEA customers and has announced another in India, alongside Q3 2026 results in which comparable diluted EPS rose 6.8% to USD 1.10 and global aluminium packaging shipments grew 4.7%. Sales rose to USD 4.19bn from USD 3.38bn, largely on higher aluminium prices passed through to customers, but Ball reported a GAAP net loss of USD 94m against net earnings of USD 321m a year earlier. It kept 2026 guidance of 10%-plus comparable EPS growth and about USD 900m of free cash flow.
Why this mattersBall is adding can capacity in Europe and India while North American earnings slip on start-up costs, a sign can makers still see volume growth justifying new plants.
- Ball is investing in a new beverage can plant in Baruth, Germany, for EMEA and has announced a new can plant in India
- Q3 2026 comparable diluted EPS was USD 1.10 against USD 1.03, up 6.8%; comparable operating earnings rose 2.5% to USD 451m
- Global aluminium packaging shipments rose 4.7%; South America volume up low double digits, EMEA mid single digits, North and Central America low single digits
- Sales were USD 4.19bn against USD 3.38bn; GAAP net loss of USD 94m (USD 0.36 per share) against net earnings of USD 321m (USD 1.18)
- North and Central America comparable operating earnings fell to USD 210m from USD 215m on higher operating and plant start-up costs
- USD 431m returned to shareholders in nine months, at least USD 800m targeted by year-end; 2026 guidance of 10%-plus comparable EPS growth and about USD 900m free cash flow
Sonoco will invest USD 40m over two years to modernise its uncoated recycled paperboard mill in Richmond, Virginia, adding about 9,000 tonnes of annual capacity. Work starts in early 2027 in two phases; the second, covering pulping, water systems and automation, is due for completion by end-2028. The mill supplies board for Sonoco's paper cans and lightweight tan bending chip grades sold to outside customers.
Why this mattersA targeted upgrade rather than a new machine, the project adds quality and modest volume to Sonoco's 1.2m-tonne recycled board network feeding its paper cans and external buyers.
- Sonoco will invest USD 40m over two years at its Richmond, Virginia uncoated recycled paperboard mill
- The project adds about 9,000 tonnes of annual capacity
- Construction starts in early 2027; the first phase covers sheet formation, profile control, density and cleanliness
- The second phase, due by end-2028, covers pulping, water systems, automation and employee facilities
- Planned equipment includes a new wet-end pulper, a profiling calender stack, stock preparation upgrades and new automation controls
- Sonoco's North American URB business runs 10 mills with 16 paper machines producing about 1.2m tonnes a year
German industrial packaging group Ringmetall closed its acquisition of Rapak LLC on 2 November 2026, taking 100% of the Illinois-based bag-in-box maker and entering the North American bag-in-box market. Rapak, formerly part of TriMas, employs about 50 staff across two US plants and generates roughly USD 20m in annual revenue; the deal was funded from Ringmetall's own cash and existing credit lines.
Why this mattersThe deal lifts Ringmetall to what it calls the world's fourth-largest bag-in-box systems maker and gives it a direct US manufacturing and filling-equipment foothold.
- Ringmetall completed the acquisition of Rapak LLC on 2 November 2026, after announcing the deal on 29 October 2026.
- Rapak operates two facilities, in Woodridge, Illinois and Indianapolis, Indiana, with about 50 employees and annual revenue of roughly USD 20m.
- Rapak makes bag-in-box flexible packaging for liquid food, beverages and industrial liquids, plus associated liquid filling systems.
- Rapak was previously a packaging business of US group TriMas.
- Ringmetall says the deal makes it the fourth-largest bag-in-box packaging systems manufacturer globally.
- Rapak is Ringmetall's fourth acquisition of 2026, after Turkey's Makplast, the thermoforming business of US-based New England Plastics, and South Africa's Vinbag.
Some brand owners are cutting their voluntary recycled-content targets sharply, from 50% down to 30% or even zero, as recyclate costs remain high, according to Georg Lässer, Alpla's director of business development, procurement and sales recycling. He said many companies are betting that the EU will weaken the PPWR's mandatory 2030 recycled-content minimums when it reviews the regulation in 2028, and that the pullback from voluntary goals is already stripping several thousand tonnes of demand from the recycling market.
Why this mattersA retreat from voluntary recycled-content commitments weakens recyclate demand and investment signals ahead of the PPWR's binding 2030 thresholds.
- Some brand owners are cutting voluntary recycled-content targets from 50% to 30% or to zero, per Alpla
- Alpla cites high costs of plastic recyclate as the driver
- Alpla executive Georg Lässer says companies are betting the EU will soften PPWR's 2030 mandatory recycled-content minimums during its planned 2028 review
- Lässer says the retreat from voluntary targets already removes demand of several thousand tonnes from the recycling market
Stevanato Group reported third-quarter 2026 revenue up 8% to EUR 326.1m and adjusted EBITDA up 14% to EUR 88.8m, with margin rising 150 basis points to 27.2%. The pharmaceutical packaging and drug-delivery group maintained its full-year 2026 guidance of EUR 1.260bn to EUR 1.280bn revenue, but said it now expects only low single-digit growth in 2027 as GLP-1 therapy volumes come in lower than previously anticipated.
Why this mattersLower GLP-1 volumes hit a drug class worth 17-18% of Stevanato's quarterly revenue; non-GLP-1 biologics, up more than 30% in the quarter, are carrying the offset.
- Company expects low single-digit growth in 2027 as GLP-1 volumes and revenue come in below earlier expectations
- Q3 2026 revenue rose 8% (8% organic) to EUR 326.1m
- Adjusted EBITDA increased 14% to EUR 88.8m, margin up 150 basis points to 27.2%
- Biopharmaceutical and Diagnostic Solutions revenue grew 11% organically to EUR 294.0m; Engineering segment revenue fell 12%
- GLP-1 therapies represented about 17-18% of Q3 revenue; non-GLP-1 biologics grew more than 30%
- Full-year 2026 guidance maintained: revenue EUR 1.260bn-1.280bn, adjusted EBITDA EUR 335.0m-345.2m
Italian flexible packaging group Inn-Flex has installed two new printing lines at its Serbian subsidiary Papir Print, doubling production capacity, as part of a EUR 11.5m (USD 12.9m) investment plan in Serbia. Papir Print, acquired by Inn-Flex in December 2024, supplies flexible food and beverage packaging to customers including Coca-Cola and Nestle, and the group views Serbia as a strategic base for growth in Southeast Europe.
Why this mattersDoubling Papir Print's capacity gives Inn-Flex a larger Serbian base to supply food and beverage brand owners such as Coca-Cola and Nestle across Southeast Europe.
- Papir Print has installed two new printing lines, doubling its production capacity.
- The investment is part of Inn-Flex Group's EUR 11.5m (USD 12.9m) programme in Serbia.
- Papir Print, a flexible packaging maker, joined Italian group Inn-Flex in December 2024.
- The company supplies flexible packaging for food and beverage customers including Coca-Cola and Nestle.
- Inn-Flex considers Serbia a strategic market for its expansion in Southeast Europe.
- Additional investment is going into process automation and quality control at the plant.
Clearing of 17 hectares of pine forest has begun in Baruth/Mark, south of Berlin, to make way for a new can plant for Red Bull. The machines are at work despite protests from environmental campaigners.
Why this mattersOpposition to forest clearing for a can plant near Berlin shows the local resistance new beverage packaging capacity in Germany can meet.
- Forest clearing has begun in Baruth/Mark, south of Berlin
- 17 hectares of pine forest are affected
- The site is for a new can plant for Red Bull
- Environmental campaigners have protested against the clearing
Aluminium on the London Metal Exchange has risen to about USD 3,100 a tonne from around USD 2,500 at the end of 2025, a 24% increase, after peaking at USD 3,800 in May, as the Middle East conflict raised energy costs and curbed Gulf supply. Brazil's high recycling rate reduces its reliance on imported metal but does not shield can buyers from higher prices. Norsk Hydro halved alumina output at its Alunorte refinery in August after a gas supply interruption.
Why this mattersA 24% rise in aluminium threatens higher can costs for Brazilian beverage fillers; high domestic recycling reduces, but does not remove, exposure to international metal prices.
- LME aluminium is about USD 3,100 a tonne against about USD 2,500 at end-2025, up 24%, after a USD 3,800 peak in May 2026
- About 9% of global aluminium output comes from Gulf countries whose facilities and export routes were affected by the conflict
- TTF gas futures exceeded EUR 87/MWh in mid-October, the highest since December 2022
- Hydro halved alumina output at Alunorte, Barcarena, in August after a gas supply interruption; it sees no evidence of a metal shortage in Brazil
- Bank of America projects a global aluminium deficit in 2026; LME warehouse stocks are at their lowest since the 1990s
Fromto, the Beringen plant that recycles the plastic from Belgium's blue PMD household waste bags, has lost EUR 30m (USD 34m) over the past three years, De Tijd reported. Creditor protection has been requested, by parent Bionerga according to VRT NWS and Het Nieuwsblad and by Fromto itself according to Het Belang van Limburg, while Bionerga seeks an industrial partner to keep the plant running.
Why this mattersA failure at Fromto would remove PMD plastic recycling capacity in Belgium, adding to pressure on European recyclers from cheap Chinese plastics and high energy costs.
- Fromto recycles the plastic fraction of Belgium's blue PMD household waste bags at its Beringen site.
- The plant has lost EUR 30m (USD 34m) over the past three years, according to De Tijd via VRT NWS.
- Creditor protection has been requested; reports differ on whether parent Bionerga or Fromto itself filed.
- Bionerga is seeking an industrial partner to keep the plant running.
- Fromto's sister plant in Houthalen previously went bankrupt.
- The blue PMD bag collection scheme itself is not affected.
Flint Group Packaging Solutions will raise prices across its entire packaging inks and coatings portfolio in the US and Canada from 14 December 2026. The supplier cites sustained cost pressure from energy and ocean freight rates, pigment shortages in China tied to safety initiatives, and high crude oil prices inflating petrochemical inputs such as resins, solvents and additives.
Why this mattersHigher ink and coating costs add to input inflation for converters and printers across flexible packaging, board and narrow web.
- Price increase covers Flint Group Packaging Solutions entire packaging inks and coatings portfolio in the US and Canada
- Increase takes effect on 14 December 2026
- Company cites elevated energy tariffs and ocean freight rates as cost drivers
- Chinese safety initiatives have constrained pigment supply and raised pigment prices
- High crude oil prices are inflating costs of petrochemical precursors including resins, solvents and additives
- Flint Group was formed in 2005 from Flint Ink Corporation and XSYS Print Solutions
Belgian takeaways and caterers must accept customers' own containers from February 2027 under the EU Packaging and Packaging Waste Regulation, and must offer a reusable packaging option from 2028. Industry body Horeca Brussels says many operators do not yet know about the change and, with Bruxelles Environnement, is preparing information campaigns ahead of the first deadline. The Walloon Horeca federation warns the 2028 reuse obligation will add investment and working time for businesses already facing thin margins.
Why this mattersPPWR's reuse-in-foodservice mandate creates a near-term compliance obligation that will shift demand toward reusable and returnable container systems and away from single-use formats.
- From February 2027 Belgian takeaways and caterers must fill customers' own clean containers under the EU Packaging and Packaging Waste Regulation (PPWR)
- From 2028 these businesses must also offer a reusable packaging option
- Horeca Brussels says many operators are not yet aware of the obligation and is preparing webinars and guidance with Bruxelles Environnement
- The Walloon Horeca federation flags added cost and working time from buying, stocking and cleaning reusable containers for the 2028 rule
- Fost Plus reports Belgium's household plastic packaging recycling rate rose to 74% in 2025 from 69% two years earlier
- Restrictions on individual toiletry packaging in hotels are planned to follow from 2030
The Verband der Wellpappen-Industrie (VDW), Germany's corrugated packaging association, has published COSI 1.0, the first industry-wide standard for exchanging machine data in corrugated board production. The standard was developed with machinery makers, software providers and converters including BOBST, Koenig & Bauer, Mitsubishi Heavy Industries, Mondi, DS Smith and Klingele, and is backed by European federation FEFCO. It defines a common interface for performance, setup, maintenance and quality data using MQTT with TLS encryption, and will be maintained and updated as needed.
Why this mattersA common machine-data interface reduces vendor lock-in for corrugated converters and could accelerate predictive maintenance and efficiency gains across the sector.
- COSI 1.0 is the first industry-wide data-interface standard for corrugated board production, developed on VDW's initiative
- The standard was developed between June 2025 and October 2026 with corrugated producers, software providers and machinery makers
- European federation FEFCO supports the standard
- COSI 1.0 covers four areas, Performance, Setup, Maintenance and Quality, using MQTT transport with TLS encryption
- Contributors include BHS Corrugated, BOBST, DS Smith, Fosber, Göpfert, Klingele, Koenig & Bauer, Mitsubishi Heavy Industries EMEA, Mondi and Palm
- The standard is to be updated as industry requirements change
ChemAnalyst's aluminium foil price index rose quarter on quarter in the US, China and Germany in Q3 2026, extending increases that began in Q4 2025 in the US and Q1 2026 in China and Germany, on higher metal, energy and freight costs. ChemAnalyst cites September producer price inflation of 8.7% year on year in Germany, 6.3% in the US and 5.0% in China, while Chinese foil inventories built up in September as high prices slowed downstream buying.
Why this mattersFoil buyers in food and pharmaceutical packaging face cost-driven increases in all three markets, though China's September inventory build suggests buyer resistance there.
- ChemAnalyst's aluminium foil price index rose quarter on quarter in Q3 2026 in the US, China and Germany
- ChemAnalyst cites September 2026 producer price inflation of 8.7% year on year in Germany, 6.3% in the US and 5.0% in China
- China's aluminium foil price averaged about USD 6,050 per tonne FOB China in Q2 2026 and rose further in Q3
- US tariffs on aluminium doubled by June 2026
- Chinese aluminium foil inventories built up in September 2026 as high prices slowed downstream buying
- US food packers and pharmaceutical blister-pack makers increased purchases in Q3 2026 while German consumer-goods demand softened
A bill amending Chile's 2018 plastic bag law passed the Senate on 6 October 2026 with 28 votes in favour and two against, and now sits with the Chamber of Deputies' environment committee. It would extend the existing ban on commercial plastic bags to bread, groceries, fruit and vegetables, and set composition, traceability and labelling requirements for reusable bags made of recycled plastic, with sanctions including loss of trading licence for repeat offenders.
Why this mattersA wider ban plus recycled-content rules for reusable bags would reshape demand for paper, textile and recycled-plastic bag substitutes in Chile's retail sector.
- The bill (boletin 17.088-12) passed the Senate 6 October 2026, 28 votes for, two against.
- It was sent to the Chamber of Deputies' Environment and Natural Resources Committee on 7 October 2026.
- It would extend the plastic bag ban to bags for bread, groceries, fruit and vegetables, with paper, textile or recycled-material alternatives proposed.
- Reusable bags made of plastic collected and recycled in Chile would need to be wholly of that material under a technical standard, with batch traceability and disposal labelling.
- Repeat offending retailers could have their trading licence cancelled.
- Adela Rogers, sustainability manager at Unibag, warned the recycled-plastic reusable category could weaken the 2018 law's waste reduction; Mark Minneboo, executive director of Fundacion Conexion Natural, raised similar concerns.
