Canfor will close its Northwood NBSK pulp mill in Prince George, British Columbia, by the end of 2026, after winding down its Fox Creek sawmill in Alberta in September; both permanent closures were announced during the third quarter and cost a combined USD 59.5m (CAD 83.1m) in impairments and closure costs. Canfor reported a Q3 2026 net loss of USD 63.1m (CAD 88.2m) on sales of USD 919.7m (CAD 1,284.8m), as weaker lumber results outweighed an improvement in pulp and paper, and completed its acquisition of PinkWood, adding engineered wood products capacity.
Why this mattersNorthwood's closure takes a British Columbia NBSK mill out of North American softwood pulp supply, while Fox Creek extends Canfor's sawmill cuts as lumber results weaken.
- Northwood NBSK pulp mill in Prince George, BC, is expected to close by year-end 2026, with USD 7.2m (CAD 10.0m) of impairments and USD 26.3m (CAD 36.7m) of restructuring and closure costs.
- Fox Creek sawmill in Alberta wound down in September 2026, with USD 22.8m (CAD 31.8m) of write-downs and impairments and USD 3.3m (CAD 4.6m) of restructuring and closure costs.
- Q3 2026 net loss attributable to shareholders was USD 63.1m (CAD 88.2m), or USD 0.54 (CAD 0.75) per share, against USD 13.2m (CAD 18.5m) in Q2.
- Q3 sales were USD 919.7m (CAD 1,284.8m); adjusted EBITDA was USD 70.2m (CAD 98.1m), down from USD 85.6m (CAD 119.6m) in Q2.
- Lumber posted a Q3 operating loss of USD 14.2m (CAD 19.9m), against a Q2 operating profit of USD 29.5m (CAD 41.2m).
- Canfor completed the acquisition of PinkWood, expanding its engineered wood products capacity.
Nippon Paper has signed land-use and power-supply contracts with data centre developer Getworks and Tokyo Gas Engineering Solutions (TGES) for a container-type data centre at its Kushiro site, where paper production ended in 2021 but power generation has continued. Nippon Paper will provide the land and electricity from its existing generating and power-receiving assets; 6MW is due to start within fiscal 2026, rising to about 40MW by September 2027, with potential of up to 150MW.
Why this mattersShows a core paper group finding new revenue for the land and power plant of a closed paper mill, a route open to other groups retiring paper capacity.
- Nippon Paper, Getworks and Tokyo Gas Engineering Solutions signed land-use and power-supply contracts for a container data centre at Nippon Paper's Kushiro site.
- The site ended paper production in 2021 and will use Nippon Paper's existing power-receiving and generation infrastructure.
- 6MW of capacity is planned to start within fiscal 2026, rising to about 40MW by September 2027.
- The companies see potential to expand the site to as much as 150MW of data centre capacity.
- Getworks will handle planning, design, construction and operation of the container data centres; TGES will design and build foundation, water and electrical works.
- Nippon Paper provides the land and power supply from its existing energy infrastructure.
Arctic Paper has launched a savings programme that will reduce its workforce, targeting annual cost savings of USD 5m (PLN 18m) with effects in 2027-2028 and costs booked in 2026-2027. The group's Q3 2026 net loss widened to USD 5.6m (PLN 21.8m) from USD 0.3m (PLN 1.2m) a year earlier, as sales fell to USD 188.4m (PLN 736.6m) from USD 203.6m (PLN 796.2m) and EBITDA dropped to USD 2.5m (PLN 9.7m) from USD 9.9m (PLN 38.9m). After the quarter its Kostrzyn mill was granted USD 8.8m (PLN 34.3m) of public aid for 2025 energy costs, to be recognised in Q4 2026.
Why this mattersA graphical paper producer cutting jobs to defend margins signals persistent European demand weakness and pricing pressure across the segment.
- New savings programme includes workforce reductions and targets USD 5m (PLN 18m) of annual savings, with effects in 2027-2028
- Q3 2026 net loss USD 5.6m (PLN 21.8m) versus a USD 0.3m (PLN 1.2m) loss in Q3 2025
- Q3 2026 group sales USD 188.4m (PLN 736.6m), down from USD 203.6m (PLN 796.2m)
- Q3 2026 group EBITDA fell to USD 2.5m (PLN 9.7m) from USD 9.9m (PLN 38.9m); margin 1.3% versus 4.9%
- Paper segment net debt/EBITDA rose to 0.92 from 0.36
- Arctic Paper Kostrzyn was granted USD 8.8m (PLN 34.3m) of public aid for 2025 energy costs, with impact in Q4 2026
Ahlstrom has completed an investment on Line 3 at its Kingston, New York plant to expand capacity for depth filtration media used in pharmaceutical, beverage and industrial liquid filtration. The upgrade modernises production equipment and process control systems and allows a wider range of product widths.
Why this mattersMore depth filtration capacity in North America gives pharmaceutical, beverage and industrial filtration customers added supply flexibility and a wider range of media widths.
- Investment completed on Line 3 at Ahlstrom's Kingston, New York facility.
- Upgrade expands capacity for high-performance depth filtration media.
- New equipment enables production of a wider range of product widths.
- Media serve pharmaceutical and biopharmaceutical processing, beverage clarification and industrial liquid filtration.
- Ahlstrom reported 2025 net sales of EUR 2.9bn (USD 3.3bn) with about 7,000 employees.
JK Paper has acquired the remaining 20% stake in Radheshyam Wellpack Private Limited, making the packaging-related business a wholly owned subsidiary. The deal accompanied second-quarter results for the year to March 2027, with consolidated net profit up about 36% year on year to INR 102.10 crore (USD 10.8m) on revenue of INR 1,939.04 crore (USD 205.2m), up around 12%. EBITDA rose about 26% to INR 300.86 crore (USD 31.8m), with margin improving to roughly 14.6% from 13.8%.
Why this mattersFull ownership of Radheshyam Wellpack strengthens JK Paper's packaging business, which it credits with part of its earnings growth alongside a better product mix.
- JK Paper acquired the remaining 20% stake in Radheshyam Wellpack Private Limited, taking ownership to 100%
- Q2 FY27 consolidated revenue rose about 12% year on year to INR 1,939.04 crore (USD 205.2m) from INR 1,732.09 crore (USD 183.3m)
- Consolidated net profit rose about 36% year on year to INR 102.10 crore (USD 10.8m) from INR 75.32 crore (USD 8.0m)
- EBITDA rose about 26% year on year to INR 300.86 crore (USD 31.8m), with margin up to roughly 14.6% from 13.8%
- Net profit fell about 25% quarter on quarter from INR 136.27 crore (USD 14.4m) in Q1 FY27
Packaging Corporation of America disclosed in its quarterly SEC filing that it received a federal grand jury subpoena in late September from the US Department of Justice's Antitrust Division, seeking documents about its business. The company says it is cooperating fully and gave no detail on the scope; the filing does not say whether the probe is linked to a civil class action accusing PCA and seven other US and Canadian containerboard producers of inflating prices, which a federal judge allowed to proceed on 4 September. PCA denies the civil allegations and says it will defend itself.
Why this mattersA Justice Department grand jury inquiry adds federal scrutiny to a containerboard market already facing price-fixing litigation, though no wrongdoing or link to the civil case has been established.
- PCA received a federal grand jury subpoena from the DOJ Antitrust Division in late September 2026, disclosed in its quarterly SEC report on 5 November
- The subpoena seeks documents related to PCA's business; the company says it is cooperating fully
- A proposed class action filed in July 2025 in Illinois federal court alleges PCA and seven other producers inflated containerboard prices from November 2020
- A federal judge denied the defendants' joint motion to dismiss on 4 September, allowing the case to proceed
- Plaintiffs seek triple damages; PCA denies the allegations and says it cannot estimate potential losses
- PCA reported Q3 revenue of USD 2.6bn, up 12.5%, and net income of USD 262.3m, up 15.6%
Mayr-Melnhof reported a 13% decline in pro-forma adjusted EBITDA to EUR 259.1m for the first nine months of 2026, as weaker results in its Board & Paper division offset gains in Food & Premium Packaging and Pharma & Healthcare Packaging. Group revenue fell 4.0% to EUR 2,774.7m, with margin pressure from overcapacity, competition and sharply higher energy, transport and chemical costs linked to the Middle East conflict. The company reiterated its planned acquisition of the Arnsberg cartonboard mill as a move to strengthen its core business.
Why this mattersSustained overcapacity and energy-cost inflation in European cartonboard are compressing margins industry-wide even as a core producer consolidates through acquisition.
- Adjusted EBITDA (pro-forma excl TANN) fell to EUR 259.1m for the first nine months of 2026, from EUR 297.4m a year earlier, margin down to 9.3% from 10.3%
- Group revenue fell 4.0% to EUR 2,774.7m from EUR 2,890.8m, driven mainly by declines in Food & Premium Packaging and Board & Paper
- Adjusted operating result dropped to EUR 93.0m from EUR 129.1m, with margin down to 3.4% from 4.5%
- One-off costs from the Fit-For-Future restructuring programme totalled about EUR 40m across all divisions
- Board & Paper margins were hit by overcapacity, intense price competition and higher energy, transport and chemical costs linked to the conflict in the Middle East
- Mayr-Melnhof confirmed its planned acquisition of the Arnsberg cartonboard mill as a step to strengthen its core cartonboard business
Mayr-Melnhof's MM Board & Paper unit supplied ALASKA Barrier Grease, a virgin-fibre cartonboard with a water-based dispersion barrier, to replace PE-coated cartonboard trays across 20 Tesco chilled-food SKUs. Samworth Brothers Manton Wood packs the products and Paranova Print & Packaging converts the board into trays; the change moved the packaging from an amber to a green UK EPR classification and removes about 320 tonnes a year of PE-lined cartonboard.
Why this mattersA named UK retailer adopting a plastic-free barrier board at 20-SKU scale signals fibre-based alternatives are displacing PE linings in chilled-food trays ahead of UK EPR cost pressure.
- ALASKA Barrier Grease cartonboard is produced at MM Kotkamills and uses a water-based dispersion barrier instead of a PE lining.
- The rollout covers 20 chilled-food SKUs for Tesco, packed by Samworth Brothers Manton Wood and converted by Paranova Print & Packaging.
- The switch replaces approximately 320 tonnes of PE-lined cartonboard per year.
- The packaging moved from an amber to a green classification under the UK EPR Recyclability Assessment Methodology.
- Independent testing under the CEPI/4evergreen method recorded a recycling yield of around 99% for the barrier board.
- Trays remain flow-wrapped in plastic film, but the cartonboard and film are designed to separate easily for recycling.
Vietnamese containerboard producer Miza reported nine-month 2026 net profit of VND 158.15bn, up 86.96% year on year, while total borrowings and finance leases rose 24.08% since the start of the year to more than VND 4,001bn as it invests at Nghi Son. Nine-month interest expense of VND 190.46bn exceeded net profit by about VND 32.31bn. Thanh Hoa province has also approved Miza as investor in a VND 1,383bn industrial park at Nghi Son, and the company targets 1m tonnes/year of total recycling capacity by 2030.
Why this mattersRising leverage at a fast-growing Vietnamese containerboard producer, with interest costs now outpacing profit, illustrates the financing strain of concurrent mill and industrial-park expansion.
- Nine-month 2026 net profit after tax reached VND 158.15bn, up 86.96% year on year
- Q3 2026 net profit after tax reached VND 74.88bn, up 100.94% year on year
- Total borrowings and finance leases exceeded VND 4,001bn as of 30 September 2026, up VND 776.56bn (24.08%) since the start of the year
- Nine-month interest expense reached VND 190.46bn, about VND 32.31bn more than nine-month net profit
- Debt-to-equity ratio stood at 2.81x, with liabilities of VND 4,575.69bn against total assets of VND 6,205.51bn
- On 25 August 2026 Thanh Hoa authorities approved Miza as investor for a VND 1,383bn, 199.55-hectare industrial park at Nghi Son, where it is developing a 170,000 tonnes/year packaging paper complex
TCPL Packaging posted consolidated net profit of INR 45.30 crore (USD 4.8m) for the July-September quarter, up 57.73% year on year, on revenue of INR 561.01 crore (USD 59.4m), up 21.83%. Operating profit rose 39% to INR 96.52 crore (USD 10.2m) and net margin improved to 8.1% from 6.2%, according to results announced on 5 November 2026.
Why this mattersMargin expansion ahead of revenue growth points to better operating leverage at an Indian packaging converter, though high leverage and profit volatility remain flagged risks.
- Consolidated revenue rose 21.83% year on year to INR 561.01 crore (USD 59.4m) from INR 460.48 crore (USD 48.7m).
- Net profit rose 57.73% to INR 45.30 crore (USD 4.8m) from INR 28.72 crore (USD 3.0m).
- Operating profit rose 39% to INR 96.52 crore (USD 10.2m) from INR 69.44 crore (USD 7.3m).
- Net profit margin improved to 8.1% from 6.2% a year earlier.
- Return on equity fell to 14.38% in FY26 from 24.54% in FY25.
- Debt stood at 0.80 times total assets in FY26.
Argentine recycled paperboard producer Papelera del Sur has closed its plant in Tornquist, Buenos Aires province, after halting production and suspending its workers earlier in the week. According to the union, the company cited low profitability and the impossibility of competing with imported paperboard; about 160 jobs are affected, roughly 110 under the union agreement and 50 outside it. The company has promised to pay severance before the end of November.
Why this mattersImported board is displacing ageing Argentine recycled paperboard capacity, removing a domestic supplier for local carton converters.
- Papelera del Sur closed its Tornquist plant on Wednesday, 4 November 2026, according to union general secretary Gustavo Lanaro.
- About 160 workers lose their jobs: roughly 110 covered by the union agreement and about 50 outside it.
- Workers had been suspended after the plant stopped production earlier the same week.
- According to the union, the company cited low profitability, a global paper surplus and competition from imported paperboard.
- The union said the plant's paper machine is old, limiting its ability to compete on cost and volume.
- The company has committed to pay severance before the end of November 2026.
DS Smith Packaging Mehun-CIM inaugurated a new CUIR MRV die-cutting machine on 29 October 2026 at its site in Mehun-sur-Yevre, France. The plant, founded in 1971, specialises in display and industrial packaging for luxury, perfume and cosmetics brands. The machine processes up to 4,000 sheets an hour and handles substrates from 0.9mm to 7mm thick in formats up to 1300 x 1680mm.
Why this mattersA single-site equipment upgrade, it widens the formats and board thicknesses DS Smith's French display-packaging plant can offer luxury and cosmetics customers.
- Machine inaugurated on 29 October 2026 at DS Smith Packaging Mehun-CIM, France
- Site founded in 1971, specialises in display packaging for luxury, perfume and cosmetics brands
- New CUIR MRV machine processes up to 4,000 sheets per hour
- Handles substrates from 0.9mm to 7mm thick, formats up to 1300 x 1680mm
- Prints 2 colours with planned evolution to a 3rd colour printed on the underside
Rayonier Advanced Materials (RYAM) economically idled its Temiscaming paperboard and high-yield pulp operations on 3 October 2026 after a 50% US tariff on Canadian paperboard, effective 22 August, made production there uneconomic; the operations remain idle at an estimated carrying cost of USD 2-3m a month. RYAM's Q3 net loss was USD 229m, including USD 221m of non-cash impairments, while group adjusted EBITDA rose to USD 52m. The tariff and idling have slowed bidder talks in RYAM's strategic review, which it targets to complete in the first quarter of 2027.
Why this mattersA US tariff has made a Canadian paperboard and high-yield pulp mill uneconomic, taking its output off the market and slowing bidders in RYAM's strategic review.
- Temiscaming paperboard and high-yield pulp operations were economically idled on 3 October 2026 and remain idled
- The 50% US tariff on Canadian paperboard took effect on 22 August 2026 and generated USD 2m of Q3 costs
- Estimated carrying costs at the idled operations are USD 2-3m per month
- Q3 net loss was USD 229m, or USD 3.40 per diluted share, including USD 221m of non-cash impairments
- Paperboard & High Yield Pulp posted a Q3 operating loss of USD 224m on sales of USD 70m
- Group Q3 adjusted EBITDA rose to USD 52m from USD 40m in Q2 on net sales of USD 383m; the strategic review targets completion in Q1 2027
Suzano reported third-quarter 2026 net revenue of BRL 16.5bn (USD 3.0bn), up 36% year on year and a quarterly record, driven mainly by the first consolidation of Arbex, its 51%-owned joint venture with Kimberly-Clark. Adjusted EBITDA rose 9% to BRL 5.7bn (USD 1.0bn) and net income was BRL 2.1bn (USD 0.4bn). Net leverage in US dollars rose to 3.7 times after the USD 1.3bn acquisition of the Arbex stake, or 3.4 times pro forma; Suzano says the ratio will fully reflect Arbex only from the end of the second quarter of 2027.
Why this mattersConsolidating Arbex shifts Suzano's revenue towards consumer goods and international markets, but lifts leverage to 3.7 times until Arbex's earnings fully enter the ratio in mid-2027.
- Q3 2026 net revenue reached BRL 16.5bn (USD 3.0bn), up 36% year on year, a quarterly record
- Suzano holds 51% of Arbex, its joint venture with Kimberly-Clark established in July 2026, acquired for USD 1.3bn, and now fully consolidates it
- Net leverage in US dollars was 3.7 times net debt to adjusted EBITDA, or 3.4 times including Arbex's pro forma 12-month EBITDA
- Adjusted EBITDA was BRL 5.7bn (USD 1.0bn), up 9%; net income was BRL 2.1bn (USD 0.4bn)
- Consumer Goods, now including Arbex, posted net revenue of BRL 5.0bn (USD 0.9bn), of which BRL 4.2bn (USD 0.8bn) came from international markets
- Pulp sales were 3.2m tonnes in the quarter; Paper and Packaging sales were 374,000 tonnes
Holmen plans to end primary sawing at its Kroksjon site near Skelleftea, Sweden, and has issued redundancy notices to 50 employees. Planing, painting, pressure treatment and finger-jointing will continue at the site, supplied with timber from Holmen's Bygdsiljum sawmill. Holmen has started consultations on the new organisation, with the transition planned for 1 March 2027.
Why this mattersHolmen is cutting sawn timber capacity in a Wood Products division whose nine-month operating loss widened to USD 17m (SEK 170m), concentrating log processing at Bygdsiljum.
- 50 employees at Kroksjon have received redundancy notices
- Primary sawing will end; planing, painting, pressure treatment and finger-jointing continue at the site
- Remaining processing will be supplied with timber from Holmen's Bygdsiljum sawmill
- Consultations have begun; the transition is planned for 1 March 2027
- Holmen Wood Products posted an operating loss of USD 17m (SEK 170m) in January-September 2026, against USD 7m (SEK 70m) a year earlier
- Wood Products deliveries fell to 943,000 m3 in the first nine months of 2026 from 990,000 m3 a year earlier
Zignago Vetro reported nine-month 2026 net profit of EUR 19.9m, up 51% year on year, on revenue that was flat at EUR 448.4m. EBITDA margin improved to 18.7% despite a weaker third quarter hit by higher energy costs, while capital expenditure rose to EUR 61.7m and net debt stood at about EUR 267.7m.
Why this mattersZignago is widening margins on flat sales while lifting capex, though a weaker third quarter shows energy costs still weigh on European container glass.
- Nine-month net profit rose 51% to EUR 19.9m from EUR 13.2m a year earlier
- Revenue was broadly flat at EUR 448.4m, down 0.4% from EUR 450.3m
- EBITDA increased 6.9% to EUR 83.7m, with margin up to 18.7% from 17.4%
- Net capital expenditure rose to EUR 61.7m from EUR 40.3m
- Net financial debt was approximately EUR 267.7m at 30 September, against EUR 269.8m at end-2025
- Third-quarter EBITDA fell 7.3% to EUR 25.0m as higher energy costs weighed on margins
Fitch Ratings has affirmed Sonoco Products' Issuer Default Rating at BBB with a Stable Outlook. The agency cited the packaging group's market position, financial profile and capital discipline as supporting the investment-grade rating.
Why this mattersThe affirmed BBB with stable outlook leaves Sonoco's investment-grade access to debt funding unchanged.
- Fitch Ratings affirmed Sonoco Products' Issuer Default Rating at BBB with a Stable Outlook
- Fitch cited Sonoco's market position, financial profile and disciplined capital management
- The agency noted Sonoco's diversified product portfolio helps absorb supply chain and cost pressures
Greif has guided to fiscal 2027 adjusted EBITDA of at least USD 645m, about 3% above fiscal 2026, and adjusted free cash flow of USD 290m, and raised its annualised cost-savings target to USD 150m from the USD 105m achieved by the end of fiscal 2026. Fourth-quarter adjusted Class A EPS rose 50% to USD 0.87 on lower interest and tax costs and buybacks, while adjusted EBITDA fell 3.1% to USD 163.0m against a prior-year quarter that included a USD 18.2m incentive accrual gain. The outlook assumes flat volumes in three segments and a low single-digit decline in metals.
Why this mattersGreif's floor assumes no broad volume recovery: acquisitions, closures and cost savings, not demand, carry its 2027 earnings bridge while industrial end markets stay weak.
- FY2027 guidance floor is adjusted EBITDA of USD 645m, about 3 percent above FY2026, and adjusted free cash flow of USD 290m
- Q4 adjusted Class A EPS rose to USD 0.87 from USD 0.58 a year earlier, up 50 percent
- Net leverage was 1.2x at FY2026 year end against about 3.5x in FY2024; USD 225m of shares, about 6 percent of shares outstanding, were bought back in the year
- Management raised its FY2027 annualised cost-savings target to USD 150m from USD 105m achieved by end-FY2026
- FY2026 full-year adjusted EBITDA rose 11.7 percent to USD 626m and adjusted EPS rose 74.9 percent
India's Kusumgar Ltd has signed a non-binding term sheet with Certoplast Holding GmbH of Germany to form a joint venture manufacturing tapes in India, with Kusumgar holding a 50.1% stake and Certoplast 49.9%. The announcement accompanied Kusumgar's Q2 FY27 results, in which profit after tax rose to USD 4.3m (INR 40.60 crore) from USD 1.2m (INR 10.92 crore) a year earlier, on revenue of USD 26.6m (INR 250.94 crore) against USD 14.7m (INR 138.78 crore). Definitive agreements and regulatory approvals for the venture are still pending.
Why this mattersCertoplast would gain Indian tape manufacturing through a minority stake in a Kusumgar-controlled venture, though the term sheet is non-binding and approvals are pending.
- Kusumgar to hold 50.1% of the new JV, Certoplast Holding GmbH 49.9%
- Term sheet for the joint venture is non-binding; definitive agreements still required
- JV will build a tape manufacturing facility in India
- Kusumgar Q2 FY27 PAT rose to USD 4.3m (INR 40.60 crore) from USD 1.2m (INR 10.92 crore) a year earlier
- Kusumgar Q2 FY27 revenue rose to USD 26.6m (INR 250.94 crore) from USD 14.7m (INR 138.78 crore)
- Diluted EPS rose to 3.87 from 1.05 year-on-year
Alpla has started up two new plants in Adana and Izmir, Turkey, representing an investment of EUR 30m (USD 34m). The packaging maker plans a further EUR 40m (USD 45m) of investment in Turkey over the next five years, having invested about EUR 100m (USD 112m) in the country since 1992.
Why this mattersTwo plants worth EUR 30m (USD 34m) and a further EUR 40m (USD 45m) planned over five years deepen Alpla's production footprint in Turkey.
- Alpla started up two new plants in Adana and Izmir, Turkey
- The two new plants represent EUR 30m (USD 34m) of investment
- Alpla plans a further EUR 40m (USD 45m) of investment in Turkey over the next five years
- Alpla has invested about EUR 100m (USD 112m) in Turkey since 1992
Karat Packaging reported third-quarter 2026 net sales of USD 134.7m, up 8.2% year on year, while net income fell to USD 4.7m from USD 7.6m as higher shipping and resin costs squeezed margins. The company expects full-year sales growth of 9-11%; shipments to four previously secured chain accounts began in October, and four further accounts won in the quarter are due to start shipping in the first half of 2027.
Why this mattersKarat's quarter shows resin and freight costs outrunning sales growth, leaving new chain accounts, price increases and sourcing shifts to Indonesia, Malaysia and South America to restore margins.
- Q3 2026 net sales rose 8.2% to USD 134.7m from USD 124.5m a year earlier
- Q3 net income fell to USD 4.7m from USD 7.6m; gross margin narrowed to 33.5% from 34.5%
- Q3 adjusted EBITDA declined to USD 8.9m from USD 13.1m
- Q3 online sales grew nearly 38% year on year
- Nine-month net income reached USD 41.5m, including USD 20.2m from tariff refunds
- Four chain accounts began shipments in October; four more won in Q3 are expected to ship in the first half of 2027
Indian rigid-packaging maker Rajshree Polypack (RPPL) raised injection-moulding capacity to 5,800 MT in the second quarter of fiscal 2027, up from 4,800 MT a year earlier, even as first-half injection-moulding output fell 44% to 1,196 MT. Standalone first-half revenue nevertheless rose 21.82% to Rs 205.81 crore (USD 21.78m), as growth in extrusion, thermoforming, printing and sleeving offset the injection-moulding decline.
Why this mattersRajshree added injection-moulding capacity while output in that line nearly halved, leaving a utilisation gap that extrusion and thermoforming growth must cover.
- Injection-moulding capacity reached 5,800 MT in Q2 FY27, up from 4,800 MT in Q2 FY26 and 1,000 MT in Q2 FY24
- H1 FY27 injection-moulding production fell 44% to 1,196 MT from 2,127 MT in H1 FY26
- Standalone H1 FY27 revenue rose 21.82% to Rs 205.81 crore (USD 21.78m)
- Injection moulding's share of H1 revenue fell to 11.64% from 18.61%
- Extrusion capacity rose to 25,600 MT and output rose to 11,402 MT in H1 FY27; thermoforming output rose to 4,686 MT
- Management cited softer export demand amid geopolitical uncertainty, offset by domestic demand
The Uganda Development Corporation (UDC) has broken ground on a UGX 29bn packaging manufacturing facility at Namanve Industrial Park, operated by Pamoja Packaging and Industrial Solutions Limited (PPISL), in which UDC holds a 49% stake acquired in 2024. The plant will produce PET preforms, flexible printed packaging, folded cartons, paper bags and industrial bags, targeting Uganda's estimated USD 500m annual packaging and polymer import bill, and is expected to create more than 1,000 jobs.
Why this mattersA state-backed local plant targeting PET preforms and cartons could reduce Uganda's packaging import dependence and offer new regional capacity to food and beverage customers.
- UDC invested UGX 29bn in Pamoja Packaging and Industrial Solutions Limited (PPISL) in 2024 for a 49% stake.
- Groundbreaking took place at Namanve Industrial Park, Mukono District, on 5 November 2026.
- The plant is designed to produce up to 38,800 PET preforms per hour, operating 10 hours a day, 25 days a month.
- Uganda imports an estimated USD 500m of polymers and packaging materials a year, including about USD 250m in paper packaging.
- Uganda imported roughly USD 6.29m of corrugated cartons and USD 2.34m of non-corrugated folding cartons in 2024.
- The facility is expected to create more than 1,000 jobs, serving coffee, sugar, milk, soap and other consumer goods producers.
Saudi packaging materials maker Filling & Packing Materials Manufacturing Co. (FIPCO) reported consolidated net profit of SAR 8.7m for the nine months to 30 September 2026, against a net loss of SAR 17.9m a year earlier. Revenue for the period rose 24.1% to SAR 226.7m, driven by higher demand and selling prices at the parent and its subsidiary FPC, despite higher shipping and raw material costs.
Why this mattersThe return to profit shows a mid-sized Gulf packaging converter absorbing freight and raw material inflation through pricing, a test case for regional cost pass-through.
- Nine-month revenue rose 24.1% to SAR 226.7m from SAR 182.7m a year earlier
- Nine-month net profit was SAR 8.7m versus a net loss of SAR 17.9m in the prior-year period
- Third-quarter revenue rose 31.3% year on year to SAR 82.6m
- Third-quarter net profit was SAR 2.8m versus a net loss of SAR 2.8m a year earlier
- Nine-month gross profit rose 74.6% to SAR 48.9m
- Shareholders equity stood at SAR 134.9m, up 5.8% year on year
Biffa has reopened its Masons materials recovery facility in Suffolk after a USD 16m (GBP 12m) upgrade, half funded by the UK Packaging Extended Producer Responsibility (pEPR) scheme through money allocated by PackUK and distributed via Suffolk County Council and Braintree District Council. Once fully operational the site will process up to 65,000 tonnes of recycling a year, with a new glass processing plant, upgraded optical sorting and fire protection, and the redevelopment underpins a ten-year extension of Biffa's sorting contract with Suffolk County Council. The project is described as one of the first significant uses of pEPR funding to modernise UK recycling infrastructure.
Why this mattersThe project is an early test case for whether UK pEPR fees can be recycled into sorting capacity, shaping how packaging producers' compliance costs translate into material quality and recovery rates.
- The USD 16m (GBP 12m) redevelopment was funded equally by Biffa and the pEPR scheme.
- The pEPR share of USD 8m (GBP 6m) was allocated by PackUK and distributed by Suffolk County Council (USD 7m, GBP 5m) and Braintree District Council (USD 1m, GBP 1m).
- Upgrades include a new glass processing plant, optical sorting, film extraction, a twin-ram baler and USD 1m (GBP 1m) of fire protection including Helios cannons.
- Once fully operational the site will process up to 65,000 tonnes of recycling a year, supporting dual-stream collection across six district and borough councils.
- The redevelopment underpins a ten-year extension of Biffa's recycling sorting contract with Suffolk County Council.
- PackUK chief executive Jeremy Blake welcomed the use of pEPR funding to strengthen UK recycling infrastructure.
Recycled polypropylene producer PureCycle has finalised a three-year contract with WM for up to 25 million pounds (11,340 metric tons) a year of post-consumer polypropylene bales, starting in November. On its Q3 call on 4 November, chief executive Dustin Olson said New Jersey's three-year delay of its recycled-content mandate for food-contact packaging had pushed about 50 million pounds a year of sales volumes out of 2026, and that the company is redirecting sales towards non-food rigid containers. Former Braskem chief executive Fernando Musa was named executive chairman.
Why this mattersA multi-year bale contract with the largest US hauler secures feedstock for PureCycle, while New Jersey's delay shows how dependent recycled-PP demand is on state mandates.
- Three-year WM contract covers up to 25 million pounds (11,340 metric tons) a year of post-consumer PP bales, starting November 2026
- New Jersey's three-year delay of its PCR mandate for food-contact applications pushed about 50 million pounds a year of volumes across 15 programs out of 2026
- About 30 million pounds of volumes are on hold as a direct result of the New Jersey decision
- New Jersey's non-food rigid container mandate, unaffected by the delay, rises to 20% recycled content in January 2027
- Programs shipping, contracting or in final qualification total 45-55 million pounds a year, about 40-50% of Ironton's 107 million pound nameplate capacity
- Fernando Musa, former CEO of Braskem and a board member since 2021, was named executive chairman
Lagos-based private equity firm Aruwa Capital Management invested in Nigerian plastic recycler Polysmart Packaging through its Aruwa Capital Fund II in December 2025. The capital supported the recent commissioning of Phase 1 of an expanded recycled-PET facility in Mowe, Ogun State, which produces food-grade rPET flakes and resin pellets for beverage and FMCG customers.
Why this mattersThe deal signals rising private-equity interest in African recycling infrastructure as regulation and brand-owner demand push manufacturers toward local recycled-content supply.
- Aruwa Capital Management invested in Polysmart Packaging in December 2025 via Aruwa Capital Fund II.
- Polysmart commissioned Phase 1 of an expanded recycling facility in Mowe, Ogun State.
- Polysmart produces food-grade recycled PET flakes and resin pellets for beverage and FMCG manufacturers.
- Polysmart was founded in 2013 as a flexible packaging manufacturer before diversifying into PET recycling.
- No deal value was disclosed.
GreenDot, the majority-owned recycling holding of Agilyx, has acquired 50% of Valorie SAS, owner of French household packaging EPR organisation Leko and Leko Pro, sharing control with German environmental services group Reclay International. GreenDot paid an initial EUR 4m (USD 4m) at closing on 5 November 2026; with two revenue-linked milestone payments, total consideration is capped at three times that amount, EUR 12m (USD 13m), funded from GreenDot Group cash with no Agilyx cash outlay or share issuance. GreenDot aims to grow Leko towards a 10% share of the French household packaging recycling market.
Why this mattersThe deal adds France to GreenDot's German EPR compliance business and gives its mechanical recycling operations preferred access to French plastic feedstock as PPWR lifts recycled-content demand.
- GreenDot acquired 50% of Valorie SAS, holding company of Leko and Leko Pro; the deal completed on 5 November 2026
- Initial consideration is EUR 4m (USD 4m); total consideration including two milestone payments is capped at EUR 12m (USD 13m)
- Reclay International holds the other 50% and shares joint control
- Leko's revenue grew to EUR 42m (USD 47m) in 2025, with nearly 80% annual growth over the past two years
- GreenDot aims to grow Leko toward a 10% share of the French household packaging recycling market
- Funded from GreenDot Group cash; Leko will not be consolidated in GreenDot's accounts
AI waste analytics firm Greyparrot found that aluminium aerosol cans are sorted correctly at recycling facilities only 68% of the time, versus 85.3% for drinks cans, based on 1.2 billion waste items analysed across UK, US and Netherlands plants. The findings, discussed with Biffa, Ball Corporation and Alupro, show aerosols arrive misshapen and shed caps and nozzles before sorting, and come as the UK's October 2027 deposit return scheme is expected to raise aerosols' share of aluminium left in kerbside streams.
Why this mattersAs the UK's deposit return scheme pulls drinks cans out of kerbside bins, recovery of non-beverage aluminium packaging becomes more material to secondary metal supply.
- Aluminium aerosols are sorted correctly 68% of the time at recycling facilities, versus 85.3% for drinks cans, a gap of over 17 percentage points.
- Analysis by waste intelligence firm Greyparrot covered 1.2 billion waste items, including 395,424 aerosols, at UK, US and Netherlands facilities.
- Including losses during household collection, Greyparrot estimates overall aerosol recycling at approximately 40%.
- 88% of aerosols arrive at sorting infeed squashed or misshapen because of compaction during collection.
- More than 96% of aerosol caps and around half of spray nozzles detach from containers before sorting.
- UK deposit return scheme for drinks containers starts October 2027; non-beverage aluminium faces a 50% recycling target by 2030 under EPR rules.
The Australian Packaging Covenant Organisation has appointed Sarah Cook as chief executive, effective 9 November 2026. She succeeds Chris Foley, who has led the body since 2022. Cook joins from Samsara Eco, where she was chief commercial officer working on AI-enabled recycling technology.
Why this mattersAPCO administers Australia's national packaging stewardship scheme, so its leadership shapes how industry targets and EPR policy evolve.
- Sarah Cook becomes APCO chief executive effective 9 November 2026.
- She succeeds Chris Foley, who has headed APCO since 2022.
- Cook was most recently chief commercial officer at Samsara Eco, an AI-enabled recycling technology company.
- She previously worked at Nestlé and Coca-Cola, including helping establish the Circular Plastics Australia joint venture.
- APCO chair Sam Andersen announced the appointment.
India's food safety regulator FSSAI has published a draft amendment that would let chemically recycled polyethylene and polypropylene touch food, alongside the recycled PET already permitted. The plastic must be broken down to the monomer stage under Indian Standard IS 14534 and match virgin-material specifications; mechanically recycled material remains excluded. The draft, signed 2 November 2026, is open for comment for 60 days from its 3 November Gazette publication, running to early January 2027.
Why this mattersOpening two more resins to food contact, if finalised, would let Indian food brands meet rising recycled-content mandates they currently sidestep via an FSSAI exemption.
- Draft signed by FSSAI chief executive Rajit Punhani on 2 November 2026, published in the Gazette of India on 3 November 2026.
- Recycled polyethylene and polypropylene would be allowed only via chemical recycling to the monomer route under IS 14534, with output equivalent to virgin material.
- A separate clause would allow recycled plastic from food-grade packaging in the outer layer only of multilayer packs, subject to existing migration limits.
- Public comments accepted for 60 days from Gazette publication, to roughly early January 2027.
- Plastic Waste Management Rules require rigid packaging to contain 30% recycled plastic in 2025-26, rising to 60% by 2028-29; flexible packaging must rise from 10% to 20%.
- Only recycled PET is currently permitted in food contact, following FSSAI's March 2025 amendment.
The city of Amsterdam has commissioned legal platform CircuLaw to assess whether a ban on single-use packaging is legally possible, as part of efforts to cut litter; alderwoman Lian Heinhuis called a ban a realistic option. The municipality is studying initiatives in Lisbon, Copenhagen and Tubingen before deciding on next steps, and says any ban would be combined with measures such as reusable systems.
Why this mattersA city-level ban would add to the patchwork of reuse mandates facing single-use packaging producers and foodservice brands across Europe.
- Amsterdam commissioned legal platform CircuLaw to assess whether a ban on single-use packaging is legally possible
- Alderwoman Lian Heinhuis called a ban on disposable packaging a realistic option
- The city says a ban would be combined with other measures such as reusable systems
- Zwerfinator founder Dirk Groot estimates single-use packaging makes up about 90% of litter in the Netherlands
- The municipality is examining initiatives in Lisbon, Copenhagen and Tubingen to inform its next steps
An industry committee under the China Association of Resource Recycling has published its 2025 extended producer responsibility performance report for beverage carton (liquid paperboard) packaging, reporting a 41.6% resource utilisation rate against a 40% target. The report covers five years of pilot EPR work since 2020, when the rate stood at 31%, and sets out priorities for the next five years under China's new circular economy plan.
Why this mattersChina's beverage carton EPR pilot has beaten its 40% target, and the new five-year plan keeps carton recovery under producer responsibility for carton suppliers and brand owners.
- Beverage carton (liquid paperboard) packaging resource utilisation rate reached 41.6% in 2025, above the 40% target set in the national implementation plan
- The rate has risen from 31% in 2020 to 41.6% in 2025 over the five-year pilot period
- Recycling under the scheme's partner network cut an estimated 407,000 tonnes of CO2-equivalent emissions in 2025, an 84.8% reduction rate
- A school milk-carton recycling project in Shenzhen completed China's first carbon-inclusive trading transaction in the beverage carton packaging sector
- The committee published a group standard on recyclable design for food and beverage paper-based composite packaging, introducing a material compatibility grading principle
- China's newly issued 15th Five-Year circular economy plan calls for continued self-regulated recycling and extended producer responsibility in the beverage carton sector
The University of Nottingham has secured GBP 1.4m (USD 1.9m) in UK research funding to lead a two-year project developing mycelium composites as an alternative to expanded polystyrene in protective and transit packaging. The consortium, funded by the Engineering and Physical Sciences Research Council, includes Swansea University, the University of Bath and manufacturer Magical Mushroom Company, which will run commercial trials at its Beeston, Nottinghamshire plant.
Why this mattersA scalable mycelium composite would give protective and transit packaging a bio-based alternative to expanded polystyrene, subject to commercial trials.
- Funding of GBP 1.4m (USD 1.9m) awarded via EPSRC Materials Innovation Partnerships programme
- Project runs two years and targets expanded polystyrene replacement in transit packaging
- Consortium includes University of Nottingham, Swansea University, University of Bath and Magical Mushroom Company
- Commercial trials to take place at Magical Mushroom Company's Beeston, Nottinghamshire manufacturing site
- Work includes fluorine-free barrier coatings and mechanical testing for shock absorption and moisture resistance
- Magical Mushroom Company already supplies Mushroom Packaging to commercial clients including Raymarine
Vietnam's draft decree implementing the Law on Environmental Protection proposes ending production and import of thin plastic bags under 30 microns, foam food boxes, plastic straws and cutlery, and other single-use plastics after 31 December 2030. Supermarkets, shopping centres, hotels and tourist sites would also have to stop giving out free plastic bags and single-use plastic items, forcing shoppers to bring their own bags or pay for packaging.
Why this mattersA ban of this scope would force packaging producers and retailers in Vietnam to shift sourcing toward paper, reusable or biodegradable alternatives within four years.
- Draft decree sets 31 December 2030 as the deadline to stop production and import of plastic bags thinner than 30 microns.
- The same deadline applies to plastic straws, cutlery and foam food containers, with an exemption for products certified under Vietnam's Eco-Label.
- Supermarkets, shopping centres, hotels and tourist sites must stop giving out free plastic bags, packaging and single-use plastic items.
- Exemptions apply to bags made for export or used for direct product packaging sold to market.
- Provincial authorities will manage plastic waste locally and enforce the ban on thin bags under 30 microns.
- The Ministry of Finance is to set environmental taxes and fees on plastic packaging and single-use plastics, alongside incentives for biodegradable material production.
European prices for key flexible packaging raw materials moved unevenly in the third quarter of 2026, with BOPP, HDPE, LDPE and aluminium foil falling after sharp rises in Q2, while paper, BOPA and energy costs rose. All tracked materials remained above year-earlier levels.
Why this mattersConverters face a mixed input cost base this quarter, easing pressure on plastics substrates while paper and energy costs continue to climb.
- BOPP film (20 micron) prices fell 24% quarter on quarter in Q3 2026
- LDPE prices dropped 15% and HDPE 14% versus Q2 2026
- Aluminium foil (7 micron) prices declined 3% quarter on quarter
- One-side coated paper (60 g/m2) and BOPA film (15 micron) prices each rose 2%
- PET film (12 micron) prices were stable quarter on quarter
- Energy prices rose substantially in Q3 2026 while all materials remained above year-earlier levels
