Nippon Paper Industries will suspend operations at its wholly owned Hungarian subsidiary Nippon Paper Chemicals Europe (NPCE) from 31 December 2026, citing a slower-than-expected EV market and intensifying competition. Production of carboxymethylcellulose (CMC) for lithium-ion battery applications will be consolidated at the group's Gotsu plant in Japan. The group expects to book an extraordinary loss of about JPY 5 billion for the year ending 31 March 2027, and has not given a date for resuming Hungarian operations.
Why this mattersSlower EV battery demand growth in Europe is prompting Japanese materials producers to retreat from local capacity built for that market.
- NPCE will suspend operations on 31 December 2026.
- Nippon Paper expects an extraordinary loss of about JPY 5 billion for the year ending 31 March 2027.
- NPCE, based in Vacratot, Hungary, had 24 employees as of 31 August 2026.
- NPCE reported revenue of EUR 74,000 and an operating loss of about EUR 5.98 million for the year ended 31 December 2025.
- NPCE was established in September 2022 to produce SUNROSE MAC CMC for lithium-ion batteries; local production began in 2025.
- CMC production will be consolidated at Nippon Paper's Gotsu plant in Japan.
- The Vacratot plant represented an investment of about HUF 15 billion (EUR 41.4m), including HUF 2.3 billion (EUR 6.4m) of Hungarian state support
- The site was expected to create around 60 jobs and generate about EUR 50m in annual sales
- Commercial production had started less than two years before the suspension
UPM-Kymmene is due to complete the partial demerger of its plywood business, WISA Group Plc, on 31 October 2026, with WISA shares scheduled to begin trading on Nasdaq Helsinki on 2 November 2026. Continuing operations reported second-quarter 2026 comparable EBIT of EUR 212m, up 71% year on year, on revenue of EUR 2.355bn, with the comparable EBITDA margin at 15.1% against 10.7% a year earlier. First-half operating cash flow was EUR 225m and net debt EUR 3.313bn.
Why this mattersSeparating plywood leaves UPM's remaining businesses to be valued on their own, at a point when continuing-operations margins have already widened by more than four points.
- Partial demerger of WISA Group Plc from UPM-Kymmene is targeted for completion on 31 October 2026
- WISA shares are scheduled to begin trading on Nasdaq Helsinki on 2 November 2026
- Comparable EBIT for continuing operations rose 71% year on year to EUR 212m in Q2 2026
- Q2 2026 continuing-operations revenue was EUR 2.355bn
- Comparable EBITDA margin improved to 15.1% from 10.7% a year earlier
- H1 2026 operating cash flow was EUR 225m and net debt EUR 3.313bn
Smurfit Westrock reported third-quarter 2026 sales of USD 8.161bn and adjusted EBITDA of USD 1.205bn, a 14.8% margin, with cost inflation and softer converting volumes weighing on results. It expects full-year 2026 adjusted EBITDA of approximately USD 4.7bn, citing about USD 700m of additional freight and energy costs, and fourth-quarter adjusted EBITDA of approximately USD 1.3bn. Price increases across paper grades are being passed through, with the full benefit expected in 2027.
Why this mattersUSD 700m of freight and energy inflation at Smurfit Westrock, with price increases fully recovered only in 2027, shows containerboard pricing trailing cost inflation into next year.
- Full-year 2026 adjusted EBITDA forecast at approximately USD 4.7bn, citing about USD 700m of additional freight and energy costs
- Q3 2026 sales USD 8.161bn, net income USD 219m, adjusted EBITDA USD 1.205bn (14.8% margin)
- Fourth-quarter 2026 adjusted EBITDA outlook approximately USD 1.3bn
- Days-adjusted corrugated volumes down 3.4% in North America and 1.8% in Latin America, up 0.4% in EMEA & APAC
- Agreed during Q3 to acquire CMPC's Chilean containerboard assets
- Quarterly dividend of USD 0.4523 per share payable 10 December 2026 to shareholders registered on 13 November
UPM has deferred the start-up of its Leuna integrated biorefinery to the second quarter of 2027, with nominal capacity now expected in early 2028, after modifications were needed in the sugars-to-glycols process. Third-quarter comparable EBIT from continuing operations fell 8% to EUR 131m on sales of EUR 2.202bn as customer destocking reduced deliveries. The separation of the plywood business is scheduled to create the listed WISA Group in November 2026, and net debt fell to EUR 2.993bn.
Why this mattersA further Leuna delay alongside the plywood carve-out and weaker quarterly margins shows UPM reshaping its portfolio while its flagship biochemicals project continues to slip.
- Leuna biorefinery start-up deferred to Q2 2027 after technological readiness in Q1 2027; nominal capacity expected early 2028
- Q3 continuing-operations sales EUR 2.202bn, comparable EBIT EUR 131m, down 8%, margin 5.9%
- Plywood separation scheduled to create listed WISA Group in November 2026
- Second-half 2026 comparable EBIT guidance for continuing operations EUR 375–575m
- Net debt EUR 2.993bn, net debt/EBITDA 2.09; operating cash flow incl. discontinued operations EUR 420m vs EUR 218m
- Kaukas pulp production curtailed for eight weeks; five-week Pietarsaari curtailment planned for Q4
TriMas signed an agreement in October 2026 to sell Rapak, its flexible bag-in-box packaging, dispensing and liquid filling business, to further streamline its portfolio around core businesses. Third-quarter 2026 net sales rose 7.7% to USD 178.7m and adjusted diluted EPS rose to USD 0.50 from USD 0.17. The company ended September with USD 1,158.5m of cash after the divestiture of TriMas Aerospace, which generated about USD 1.2bn in net after-tax proceeds.
Why this mattersSelling Rapak takes TriMas out of bag-in-box and narrows its packaging arm to core lines, backed by USD 761.4m of net cash for capital allocation.
- TriMas signed an agreement in October 2026 to sell Rapak, a provider of flexible bag-in-box packaging, dispensing and liquid filling solutions
- Q3 2026 net sales rose 7.7% to USD 178.7m from USD 166.0m
- Q3 adjusted operating profit rose 47.9% to USD 13.6m; adjusted diluted EPS USD 0.50 against USD 0.17
- Cash of USD 1,158.5m and net cash of USD 761.4m at 30 September 2026
- The TriMas Aerospace divestiture generated about USD 1.2bn in net after-tax proceeds
- 2,229,471 shares repurchased for USD 82.7m in the first nine months of 2026
International Paper reported a USD 1.097bn loss from continuing operations for the third quarter of 2026, after a USD 1.38bn non-cash goodwill impairment in its Packaging Solutions EMEA business. Sales were USD 6.197bn against USD 6.222bn a year earlier, and North American packaging delivered USD 427m of segment operating profit. The company removed EMEA guidance as the planned separation of that business progresses and now gives fourth-quarter and full-year targets for North American packaging only.
Why this mattersThe impairment resets the book value of International Paper's European box business before its separation, a reference point for valuations of European corrugated assets.
- USD 1.38bn non-cash goodwill impairment in Packaging Solutions EMEA in Q3 2026
- Continuing operations loss of USD 1.097bn, or USD 2.07 per diluted share
- Q3 sales USD 6.197bn, against USD 6.222bn a year earlier
- Adjusted EBITDA from continuing operations USD 843m, down from USD 859m a year earlier
- North American packaging segment operating profit USD 427m; Q4 adjusted EBITDA target USD 700–740m
- EMEA guidance removed as the planned separation of the business progresses
Transpack Group has acquired the operating businesses of Enwrap Logistic & Packaging, Atlante and Beaver Facility Management from the insolvent Gruppo Atlante, under a group composition with creditors before the Milan court. The sale, completed under Italy's crisis code competitive tender procedure, preserves the businesses and all 150 jobs, with Transpack using dedicated vehicles Enwrap and TPK Partecipazioni to complete the acquisition.
Why this mattersA distressed-M&A exit lets an Italian industrial packaging and logistics group expand while avoiding liquidation of the target's operations and jobs.
- Transpack acquired Enwrap Logistic & Packaging, Atlante and Beaver Facility Management from Gruppo Atlante.
- Deal completed under Italy's Codice della crisi d'impresa (art. 91 competitive procedure) within a group composition with creditors before the Milan court.
- All 150 employees of the Atlante group businesses were retained.
- Transpack, founded in Padua in 1973, is led by Nico Pittarello and employs over 600 people across 8 operating companies and more than 30 plants.
- Acquisition vehicles used were Enwrap and TPK Partecipazioni.
- Cicala Riccioni & Partners advised the seller; SC&A advised Transpack.
Omori North America and PMI Kyoto Packaging Systems have agreed to form J-Packaging Solutions Inc. (JPS), a jointly owned company combining primary and secondary packaging machinery and end-of-line automation for North American manufacturers. JPS will offer flow wrapping, cartoning, case packing, robotics, palletising, conveying and turnkey line integration to food, pharmaceutical, personal care and consumer packaged goods customers. No financial terms were disclosed.
Why this mattersA combined primary-and-secondary packaging platform gives customers a single supplier for full line projects, pressuring standalone machinery vendors on scope and service.
- Omori North America and PMI Kyoto Packaging Systems agreed to form J-Packaging Solutions Inc. (JPS), announced 28 October 2026.
- JPS combines Omori's primary packaging expertise with PMI Kyoto's secondary packaging and end-of-line automation.
- Offerings include flow wrapping, cartoning, case packing, robotics, palletizing, conveying and turnkey packaging lines.
- JPS will target food, pharmaceutical, personal care and consumer packaged goods manufacturers across North America.
- No deal value or ownership split was disclosed.
Vidrala reported nine-month sales up 2% to EUR 1,146.5m and EBITDA up 2.9% to EUR 338.5m, with net profit of EUR 173.4m, and reiterated full-year 2026 guidance of around EUR 450m EBITDA. The glass packaging group also announced a new buyback of up to 1% of share capital, worth up to EUR 30m (USD 33m), to start once the current programme is complete. This lifts the total programme to 4% of capital and dividends and buybacks combined to about EUR 182m (USD 203m).
Why this mattersLeverage of 0.4x lets Vidrala enlarge buybacks while growth comes from South America rather than a subdued European glass market.
- Nine-month sales rose 2% to EUR 1,146.5m, EBITDA rose 2.9% to EUR 338.5m with a 29.5% margin
- Net profit reached EUR 173.4m; earnings per share rose 6.4% to EUR 4.99
- South America sales grew 16.9% while Europe remained subdued
- Leverage stood at 0.4x pro forma EBITDA for the last twelve months
- Full-year 2026 guidance reiterated: EBITDA around EUR 450m, EPS growth above 5%, free cash flow around EUR 200m
- New buyback of up to 1% of share capital, maximum EUR 30m (USD 33m), lifts the total programme to 4% of capital; dividends and buybacks together reach about EUR 182m (USD 203m)
Keryas Paper Industry and Al Karama Hypermarket Group have signed a memorandum of understanding to build a USD 12m, 20,000-tonne-a-year tissue mill in Phase 7 of Sohar Industrial City, Oman, through a jointly owned vehicle, Sohar Paper Products LLC. The project will use tissue machinery sourced from Taiwan, with engineering by India's C2C Consultancy, and targets commercial start-up by the end of 2027. It extends Keryas's existing 150,000-tonne kraft paper business, which supplies fluting and testliner for packaging, into domestic tissue production for Oman and the wider Gulf.
Why this mattersA Gulf kraft paper producer diversifying into tissue signals local substitution of imported grades and broader paper capacity build-out in Oman.
- Keryas Paper Industry and Al Karama Hypermarket Group signed an MoU for a USD 12m tissue mill in Sohar Industrial City, Oman.
- The planned facility has capacity of 20,000 tonnes a year and is being developed via joint venture Sohar Paper Products LLC.
- Commercial operations are targeted for the end of 2027.
- Machinery and tissue manufacturing technology will be sourced from Taiwan; India's C2C Consultancy will handle engineering and design.
- Keryas already operates a 150,000-tonne-a-year kraft paper mill producing fluting and testliner.
- Al Karama operates 15 hypermarkets in Oman and has an existing retail packaging relationship with Keryas.
South African packaging group Transpaco says in its annual report that the Competition Commission prohibited its proposed purchase of retail plastic bag maker Premier Plastics for about USD 7.7m (ZAR 128m) during its financial year to end-June. Revenue for the year rose 0.7% to USD 0.14bn (ZAR 2.4bn) and operating profit rose 3.1% to USD 12.9m (ZAR 214.1m). Chair Derek Thomas said leakage in the plastic bag levy system disadvantages producers that comply.
Why this mattersThe prohibition limits consolidation by South Africa's largest retail plastic bag maker, while levy leakage leaves compliant converters competing against non-compliant ones.
- Competition Commission prohibited Transpaco's proposed purchase of Premier Plastics for about USD 7.7m (ZAR 128m)
- Premier Plastics is a retail plastic bag manufacturer
- Revenue for the year to end-June rose 0.7% to USD 0.14bn (ZAR 2.4bn)
- Operating profit rose 3.1% to USD 12.9m (ZAR 214.1m); headline earnings rose 4.3% to USD 9.2m (ZAR 153.5m)
- South African retail plastic bags must contain 75% post-consumer recycled material, rising to 100% next year
- Chair Derek Thomas said leakage in the plastic bag levy system disadvantages compliant producers
LEAP India has signed business transfer agreements to acquire Vimprotech and Total International Packaging Solutions (TIPS) for a combined USD 14.9m (INR 142 crore) in cash, payable in tranches. The businesses bring vacuum-formed, thermoformed and injection-moulded packaging manufacturing, plus a returnable-packaging pooling operation serving the automotive sector. Completion is expected by the third quarter of FY2026-27.
Why this mattersBackward integration into custom plastics manufacturing lets LEAP control costs and widen its pooling and crate range for automotive customers.
- Combined cash consideration is USD 14.9m (INR 142 crore), payable in tranches
- Vimprotech costs USD 10.7m (INR 102 crore) and had FY2025-26 revenue of USD 4.9m (INR 47 crore)
- TIPS costs USD 4.2m (INR 40 crore) and had FY2025-26 revenue of USD 1.9m (INR 18 crore)
- Deals are executed via LEAP's wholly owned subsidiaries Vimprotech Private Limited and Total Integrated Packaging Solutions Private Limited
- Completion is expected by the third quarter of FY2026-27
- LEAP expects the deals to add more than 200 customers and expand its custom crates, trays and separator sheet range
UFP Industries has agreed to acquire the operating assets and real estate of Apache Products, which trades as Acme Skid and makes stringer and heat-treated pallets in Silsbee, Texas, for about USD 27m. The business adds about USD 55m in annual sales and 165 employees to UFP Packaging's PalletOne network on the Gulf Coast. Closing is expected on or around 16 November 2026.
Why this mattersThe largest US wood pallet producer gains immediate capacity on the Gulf Coast, a packaging market driven by energy, petrochemical and manufacturing demand.
- UFP Industries announced on 26 October 2026 the acquisition of Apache Products' operating assets, including real estate, for about USD 27m
- Apache Products generates about USD 55m in annual sales
- The deal brings 165 employees into UFP Packaging
- Apache makes stringer and heat-treated pallets at its facility in Silsbee, Texas
- Closing is expected on or around 16 November 2026
- UFP Packaging is the largest producer of wood pallets and crates in the United States
Cruz Foam, a developer of compostable foam intended to replace petroleum-based plastic packaging foam, has ceased operations despite having raised USD 18m in a Series A round. It failed to meet customer expectations on performance, reliability and cost. TemperPack has bought its 23 patents and patent applications, but not its operating business or customer relationships.
Why this mattersA well-funded compostable-foam challenger failing on cost and performance underlines how hard it remains to displace incumbent plastic foam packaging at scale.
- Cruz Foam developed a compostable foam material as an alternative to petroleum-based plastic packaging foam
- The company had raised USD 18m in a Series A round, with investors including Leonardo DiCaprio and Ashton Kutcher
- The failure is attributed to an inability to meet customer expectations on performance, reliability and cost
- TemperPack acquired Cruz Foam's 23 patents and patent applications
- The acquisition excludes Cruz Foam's operating business and customer relationships
- Former Cruz Foam executive Toby Corey said capital can buy time but not product-market fit
Aptar Pharma has acquired Munich-based Pulmotree, adding its Kolibri non-propellant liquid inhaler platform to Aptar's respiratory drug-delivery portfolio. The deal follows an exclusive collaboration the two companies began in 2024. Aptar intends to take Kolibri, which is designed for complex molecules including biologics, through clinical evaluation to market launch with pharmaceutical partners.
Why this mattersGives Aptar ownership of a propellant-free liquid inhaler platform for biologics, turning a 2024 collaboration into an in-house respiratory device offer.
- Aptar Pharma has acquired Pulmotree, a Munich-based pulmonary drug delivery company
- The deal adds Pulmotree's Kolibri Non-Propellant Liquid Inhaler (NPLI) platform to Aptar Pharma's respiratory device portfolio
- Aptar and Pulmotree had an exclusive collaboration agreement in place since 2024
- Kolibri uses a breath-triggered vibrating mesh aerosolisation engine designed for targeted lung deposition of complex molecules, including biologics
- Aptar plans to combine Kolibri with Nanopharm formulation, Noble human-factors and Aptar Digital Health services
Indorama has completed the acquisition of Cilegon-based Polypet Karyapersada, an Indonesian PET producer, after signing the deal in March 2026. The new capacity will be co-located with Indorama's existing PET and PTA facilities in the country.
Why this mattersAdds PET resin capacity in Southeast Asia for Indorama, a key upstream supplier to beverage and packaging converters in the region.
- Indorama announced in March 2026 that it had signed an agreement to acquire Polypet Karyapersada.
- Polypet is based in Ciwandan, Cilegon, Indonesia.
- The acquisition has now been completed.
- The acquired capacity is co-located with Indorama's existing PET and PTA facilities in Indonesia.
A USD 76m project to build a glass container plant using processed quartz in Uzbekistan's Navoi region has been considered, with China's Qingdao Rongtai Glass Products as partner. The plan foresees three stages, the first starting within a year and full capacity within five years, with output for the domestic market and neighbouring countries. Investors are still assessing local market capacity and demand for glass products.
Why this mattersA greenfield glass container plant would add Central Asian capacity and give a Chinese glass maker an export-facing production base near new markets.
- A USD 76m glass container plant project in Navoi region, Uzbekistan, using processed quartz raw material, has been considered.
- The partner is Qingdao Rongtai Glass Products of Qingdao, Shandong Province, China.
- Qingdao Rongtai has annual capacity of 1.1 million tonnes, about 2.3 billion units, of green, clear and brown glass containers.
- The project is planned in three stages, the first to start within a year and full capacity within five years.
- Investors are still assessing local market capacity and demand for glass products.
- Output would go partly to the domestic market and partly to neighbouring countries.
- Raw material would be sourced from quartz sand deposits near Zarafshon, Uzbekistan.
- Site options under discussion include land in the Navoiy free economic zone.
Private equity firm Hivest Capital Partners completed its acquisition of Sustana from Blackstone Tactical Opportunities on 19 October 2026; financial terms were not disclosed. Sustana makes specialty recycled fibre and sustainable paper at mills in Lévis, Québec, and De Pere, Wisconsin, supplied by eight recovery facilities. Hivest has named Kevin Richard, previously chief operating officer, as chief executive and plans targeted mill investment and selective add-on acquisitions in North America.
Why this mattersPrivate equity ownership and a stated buy-and-build mandate point to further consolidation in North American recycled fibre and sustainable paper.
- Hivest completed the acquisition on 19 October 2026 from Blackstone Tactical Opportunities, owner since December 2021.
- Financial terms were not disclosed.
- Kevin Richard, previously Sustana's chief operating officer, is appointed chief executive.
- Sustana operates mills in Lévis, Québec, and De Pere, Wisconsin, plus eight recovery facilities in North America.
- Hivest plans an operational programme covering safety, mill reliability, energy, raw material efficiency and procurement, with targeted investment in mills and recovery network.
- Hivest intends selective add-on acquisitions in North America.
- Sustana traces its origins to the Rolland Paper Company, founded in 1882.
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.
- Ardagh Metal Packaging nine-month 2026 adjusted EBITDA rose year on year
- Third-quarter adjusted EBITDA at Ardagh Metal Packaging was nearly flat versus the prior period
- Ardagh Metal Packaging continued to report net losses with debt levels remaining high
Kazakhstan's Ministry of Industry and Construction and Aktobe Steklo signed an investment agreement on 22 October 2026 to build a glass container plant in Aktobe, worth approximately USD 150m. The plant is planned to produce around 256 million glass containers a year, with output to cover domestic demand and exports to neighbouring countries.
Why this mattersA 256m-unit glass container plant adds domestic capacity in Kazakhstan, and its planned exports to neighbouring countries put it in competition with regional glass suppliers.
- Investment agreement signed 22 October 2026 at the KGIR-2026 roundtable in Shymkent
- Total project investment is approximately USD 150m
- Planned annual capacity is around 256 million glass containers
- Plant will include sorting systems and secondary raw material recycling technology
- Agreement provides for at least 500 construction jobs and about 300 jobs after commissioning
- Output will serve the domestic Kazakh market and be exported to neighbouring countries
- Signing took place in the presence of Kazakhstan's prime minister
- Plant will include cullet recycling technology alongside sorting systems
Lordos United has completed the acquisition of a 51% stake in Cypriot corrugated box maker P&S Carton Industries for EUR 8.16m (USD 9.14m), after Cyprus' competition authority cleared the deal. The transaction, agreed on 10 July 2026, takes Lordos United from plastics into corrugated packaging; P&S Carton is described as Cyprus' only domestic corrugated box maker, supplying about 60% of local demand. Lordos United plans machinery investment at P&S Carton in 2027 and 2028.
Why this mattersA plastics packaging group's move into corrugated board signals consolidation in Cyprus' small packaging market and sets up cross-selling across both substrates.
- Lordos United acquired 35,700 shares, a 51% stake in P&S Carton Industries, for USD 9.14m (EUR 8.16m).
- Deal completed after approval by Cyprus' Commission for the Protection of Competition; share purchase agreement was signed 10 July 2026.
- P&S Carton, founded in 1991, is described as Cyprus' only domestic maker of corrugated cardboard boxes, supplying about 60% of local demand.
- Sellers retain the remaining 49% of P&S Carton.
- Lordos United estimates P&S Carton's 2025 annual turnover of about EUR 11.4m will be consolidated, with its 51% EBITDA share at about EUR 869,248.
- Lordos United plans new machinery investment at P&S Carton in 2027 and 2028 to raise capacity and cost competitiveness.
M.A.H.Y. Khoory Group has announced a new paper manufacturing line, PM4, at the Al Dhafra plant of its operating arm Union Paper Mills in Abu Dhabi, with investment exceeding AED 1 billion. The project will let Union Paper Mills diversify into premium containerboard grades and specialised paper for gypsum plasterboard, aligning with the UAE's Operation 300bn industrial strategy.
Why this mattersA new UAE containerboard line adds regional capacity and higher-value grades, sharpening competition for Gulf fibre packaging producers and importers.
- Investment in PM4 exceeds AED 1bn.
- PM4 will be built at Union Paper Mills' Al Dhafra plant in Abu Dhabi.
- The project lets Union Paper Mills move into premium containerboard grades and specialised paper for gypsum plasterboard.
- M.A.H.Y. Khoory Group announced the project on 22 October 2026.
- The project is aligned with the UAE's Operation 300bn industrial strategy and Make it in the Emirates initiative.
- Board Chairman Salahaldin Sharafi and Group CEO AbdelRhman Obaid commented on the PM4 project
- The investment is valued at over USD 272m (AED 1bn)
Brookland Group & Partners, an investment firm operating from Dubai and Singapore, has completed a first investment in Vietnamese recycled paper and packaging producer Miza under a long-term agreement worth up to USD 5m. The shares were bought from an existing shareholder without new issuance, and neither the first-tranche amount nor the stake was disclosed. Brookland plans to raise its holding in stages and puts Miza's 2025 revenue at about USD 185m.
Why this mattersA staged entry by a Dubai and Singapore investor shows foreign capital turning to Vietnam's recycled packaging paper, where 2025 consumption of 7.77m tonnes outran domestic output.
- Brookland's first investment in Miza is part of a long-term agreement worth up to USD 5m.
- The shares were bought from an existing Miza shareholder; Miza issued no new shares.
- Neither the first-tranche amount nor the percentage stake has been disclosed.
- Brookland plans to increase its holding in further stages.
- Miza, founded in 2010 and listed as MZG, makes industrial packaging paper, cartons and paper bags from waste paper at its main plant in Nghi Son, Thanh Hoa Province.
- Brookland puts Miza's 2025 revenue at about USD 185m.
- The investment is structured as staged equity, with Brookland able to exceed the initial USD 5m commitment as it raises its stake.
- Miza is in late-stage negotiations on a private placement of 30 million shares to institutional investors at a price above its current market level.
- Vietnam's extended producer responsibility rules took effect in May 2026, and the EU's Packaging and Packaging Waste Regulation applies from August 2026.
- Vietnam's paper consumption rose 10.8% in 2025 to an estimated 7.77 million tonnes, against domestic production of about 6.34 million tonnes, according to the Vietnam Pulp Paper Association.
- Vietnam's extended producer responsibility requirements took effect in May 2026.
- The EU's Packaging and Packaging Waste Regulation began applying in August 2026.
- FTSE Russell upgraded Vietnam's stock market from frontier to secondary emerging-market status less than a month before the investment.
Private equity manager Nextalia Investment Management, investing on behalf of its Nextalia Capitale Rilancio fund, has agreed a strategic partnership with Italian rigid food packaging maker Plastic Legno and the Sunino family group. The deal carves a dedicated food-packaging perimeter out of Sunino Group, combining Plastic Legno with Sunino's Resaplast unit, to build a European-scale player through organic growth and acquisitions in a fragmented market. The Sunino family keeps a strategic stake, with Paolo Sunino remaining chief executive; completion is expected by the end of 2026.
Why this mattersThe deal signals private equity-led consolidation of Italy's fragmented rigid food packaging sector, creating a platform positioned for further buy-and-build acquisitions.
- Private equity manager Nextalia Investment Management, acting for the Nextalia Capitale Rilancio fund, is to invest in a new corporate perimeter combining Plastic Legno and Resaplast
- The new entity will pursue organic growth and targeted acquisitions in a still fragmented rigid food packaging market
- The Sunino family's non-packaging businesses, promotional items and sportswear, stay outside the new perimeter and remain family-owned
- The Sunino family keeps a strategic stake and Paolo Sunino continues as chief executive of the new group
- Plastic Legno makes rigid plastic containers for dairy and confectionery at its Castellamonte plant, with IML and mono-material recyclable technology
- Resaplast makes rigid food packaging at its Conversano plant; together the two companies serve more than 100 customers
Portuguese hygiene-products group Ghost has proposed investing about EUR 200m (USD 224m) to restart pulp production at Fibre Excellence's Saint-Gaudens mill in southern France and build a 50,000 sqm hygiene-products plant, but filed no formal rescue bid before the Toulouse commercial court's 22 October deadline. According to the French press, Ghost needs at least six more months to finalise its plan, which makes judicial liquidation likely; about 250 jobs are at risk and the court has a hearing set for 3 November.
Why this mattersLiquidation would end one of France's last pulp production sites, leaving French paper and tissue makers more dependent on pulp from elsewhere.
- Ghost plans to invest about EUR 200m (USD 224m) to restart pulp production and build a 50,000 sqm hygiene-products plant at Saint-Gaudens
- The Toulouse commercial court's deadline for formal rescue proposals expired on 22 October 2026 without a bid from Ghost
- Three documents were filed instead: from the Occitanie region, the French state and Ghost reiterating its interest
- Ghost reportedly needs at least six more months to complete its industrial and financial plan
- Saint-Gaudens employs between 244 and 270 workers and is one of France's last pulp production sites
- The Toulouse commercial court has a hearing set for 3 November 2026
UPM has filed a formal application to list WISA Group Plc on Nasdaq Helsinki, advancing the planned demerger of its plywood business into a standalone company. Registration of the partial demerger is expected around 31 October 2026, with WISA shares due to start trading around 2 November 2026 under ticker WISA.
Why this mattersTakes plywood out of UPM and creates a separately listed European plywood producer, changing the ownership structure of the region's panel industry.
- UPM filed the Nasdaq Helsinki listing application on 22 October 2026
- UPM shareholders approved the demerger at an extraordinary general meeting on 31 August 2026
- Registration of the partial demerger is expected around 31 October 2026
- WISA Group trading is expected to start around 2 November 2026 under ticker WISA, ISIN FI4000603345
- UPM shares will receive a new ISIN (FI4000603337) after completion, with the UPM ticker unchanged
- Each UPM share entitles the holder to one WISA Group share as demerger consideration
An İzmir commercial court has granted Barem Ambalaj, a Turkish packaging group 30% listed on Borsa Istanbul, a one-year final concordato moratorium after it filed for protection in July 2026. The company will keep its İzmir, Gaziantep and Karaman packaging plants running and plans to open talks on selling its stalled paper mill project in Konya Ereğli, whose cost had risen to about EUR 200m before work was halted.
Why this mattersA listed Turkish converter pushed into court protection by an overrun paper mill project shows the financing risk of integrating backwards into paper production.
- İzmir 1st Commercial Court granted Barem Ambalaj a one-year final concordato moratorium on 22 October 2026.
- The company filed for concordato in July 2026 and had been operating under a three-month temporary moratorium.
- 30% of Barem Ambalaj's shares trade on Borsa Istanbul.
- The company will seek talks during the moratorium to sell its paper mill in Konya Ereğli.
- Investment cost for the halted Konya Ereğli paper mill rose to around EUR 200m (USD 224m).
- Packaging plants in İzmir, Gaziantep and Karaman will continue normal production and commercial activity.
Central National Gottesman's Lindenmeyr Munroe division will acquire the business of Nebraska-based distributor Omaha Paper Company, trading as OPC Direct, extending its Midwest footprint. The transaction is expected to close at the end of October 2026; deal value was not disclosed.
Why this mattersThe deal continues consolidation among US paper and packaging distributors, adding regional customer relationships and sanitation-supply lines to a larger national network.
- Lindenmeyr Munroe, a division of Central National Gottesman, will acquire Omaha Paper Company
- Transaction expected to close end of October 2026
- Omaha Paper, founded 1961, rebranded as OPC Direct and distributes paper, packaging, wide-format and JanSan products
- Omaha Paper is run by brothers Robert and Kevin Powell as a second-generation family business
- CNG, founded 1886, reports more than USD 8 billion in revenue and employs over 4,800 people across 180 locations in 25 countries
- Central National Gottesman is headquartered in Purchase, New York
AW Rostamani Group has renamed its UAE packaging business, formerly Sineo Packaging, as VerraPak, unveiled at WETEX 2026 in Dubai. The unit runs a 50,000-square-foot plant in Dubai Industrial City with 15 production lines and capacity above 400 million units a year, and plans to raise capacity by 25% in early 2027.
Why this mattersA Gulf conglomerate's push to build local packaging capacity reduces regional buyers' reliance on imported packaging and signals rising UAE manufacturing investment.
- VerraPak replaces the Sineo Packaging identity within AW Rostamani Group (AWR Group).
- The Dubai Industrial City plant covers 50,000 square feet with 15 high-speed production lines.
- Annual production capacity exceeds 400 million units.
- AWR Group plans to increase VerraPak's capacity by 25% in early 2027.
- The facility holds BRCGS Global Standard for Packaging Materials certification with an A+ audit grade.
- AWR Group's on-site renewable electricity generation, mainly solar, rose more than tenfold in 2025 to 2,660 MWh.
US third-party logistics and fulfilment provider CTL has acquired DMS Packaging, adding secondary packaging, contract assembly and retail display capabilities. DMS Packaging's operations will be integrated into CTL's Elk Grove Village, Illinois facility as a dedicated value-added services centre. Deal terms were not disclosed.
Why this mattersThe deal shows fulfilment and 3PL operators folding co-packing and secondary packaging into integrated service offerings for consumer brands.
- CTL, an Illinois-based third-party logistics and fulfilment provider, has acquired DMS Packaging
- DMS Packaging will be integrated into CTL's expanded Elk Grove Village, Illinois facility
- The combined operation covers secondary packaging, contract assembly and retail display engineering
- No financial terms of the acquisition were disclosed
- Josh Miller is president of CTL
SRF's board has approved a USD 63.2m (INR 600 crore) aluminium foil plant at its Jetapur site in Madhya Pradesh, with about 12,000 tonnes a year of capacity for lithium-ion and sodium-ion battery foil and high-end packaging foil. Subsidiary SRF Altech will build it in two phases of USD 31.6m (INR 300 crore) each, due by 30 September 2028 and 30 September 2030, and the mill can supply aseptic and other high-value packaging grades while battery-grade qualification, expected to take close to two years, proceeds. On its 21 October 2026 Q2 FY27 earnings call, management guided chemicals growth to the top of its 15-20% range.
Why this mattersThe dual-use mill lets SRF sell into established high-value packaging foil grades while battery-grade qualification, a multi-year process, runs in parallel.
- The board approved USD 63.2m (INR 600 crore) for an aluminium foil plant at Jetapur, Madhya Pradesh, with about 12,000 tonnes a year of capacity.
- Wholly owned subsidiary SRF Altech will build the plant in two phases of USD 31.6m (INR 300 crore) each.
- Phase 1 is due by 30 September 2028 and Phase 2 by 30 September 2030.
- The mill can make both battery-grade and high-end packaging foil, so output can go to aseptic and other high-value grades while battery qualification continues.
- Management expects battery foil qualification to take close to two years.
- SRF cited India's ACCPLI battery manufacturing incentive scheme as a demand driver.
- Q2 FY27 revenue reached INR 4,904.20 crore (USD 515.6m), up 34.7% year on year
- Q2 FY27 net profit reached INR 509.12 crore (USD 53.5m), up 31.2% year on year
Desi Kimya, a manufacturer of corrosion-inhibiting and desiccant products, has acquired Technology Packaging Ltd, a UK specialist in corrosion prevention and protective packaging that trades under the TechCorro brand. The deal combines Desi Kimya's VCI manufacturing and testing capabilities with Technology Packaging's UK customer base in foundries, forges and the automotive, aerospace and medical sectors. No financial terms were disclosed.
Why this mattersGives a niche corrosion-protection packaging specialist access to VCI manufacturing scale, consolidating a fragmented segment serving metals and components industries.
- Desi Kimya has acquired Technology Packaging Ltd, a UK specialist in corrosion prevention and protective packaging
- Technology Packaging trades under the TechCorro brand, serving foundries, forges and the automotive, aerospace and medical sectors
- Desi Kimya has over 40 years of experience in corrosion prevention and moisture control and makes its own VCI masterbatch for protective polyethylene film
- Technology Packaging gains access to Desi Kimya's TRUGUARD protective packaging brand and manufacturing and testing capabilities
- No deal value was disclosed
- Technology Packaging will exhibit TRUGUARD and TechCorro at Advanced Engineering 2026 in Birmingham on 4-5 November
- Desi Kimya is headquartered in Istanbul Atasehir with production in Kocaeli Kartepe.
- The acquisition is Desi Kimya's first in the UK market.
- The acquisition is Desi Kimya's first in the UK
- The deal combines Desi Kimya's Turkish production, R&D and testing capacity with Technology Packaging's UK supply network and technical advisory expertise
- The acquisition is Desi Kimya's first in the UK.
- Technology Packaging has traded in the UK market for more than 25 years.
WEPA and Spanish materials developer Honext will convert part of the former paper mill at Kriebstein, Saxony, into what they describe as Europe's first plant making recycled fibreboard from paper-production waste, with output starting in 2028. The EUR 39m project, backed by EUR 9.85m from the Saxon state government and a EUR 22.5m EIB loan, will use a patented enzyme-bonded, glue-free process to turn around 40,000 tonnes a year of mill waste into board for interior fit-out, wall cladding and acoustic panels.
Why this mattersA glue-free, enzyme-bonded fibreboard from mill waste gives paper producers a new outlet for process residues and a template other mills could replicate.
- WEPA and Spanish materials developer Honext will build two production lines at the former Kriebstein paper mill in Saxony, Germany, for EUR 39m
- Production of recycled, glue-free fibreboard is to start in 2028, using around 40,000 tonnes a year of paper-production waste generated on site
- The state of Saxony is funding the project with EUR 9.85m and the European Investment Bank is providing a long-term loan of EUR 22.5m
- The company says it will be the first factory of this kind in Europe
- The patented process uses enzymes as a binder, making the board free of formaldehyde and volatile organic compounds
- About 280 people currently work in paper production at the Kriebstein site, with additional jobs expected from the new plant
- WEPA operates 15 sites in six European countries and reports annual revenue of EUR 1.9bn (USD 2.1bn).
- Intended end uses for the fibreboard include retail and exhibition fit-out and flexible office partitioning, alongside wall/ceiling cladding and acoustic products.
- The project is run through the joint venture Honext x Wepa.
Eldorado Brasil Celulose's board has authorised preparations for merging the company into J&F, which is centralising the group's finances and has already absorbed Ambar Energia. J&F became sole owner in May 2025 by buying Paper Excellence's stake for BRL 15bn (USD 3.0bn), but the planned second line at Tres Lagoas, held up by the dispute since 2018, still has no public start or completion date. Net debt rose to BRL 9.7bn (USD 1.9bn) at end-2025 from BRL 966m (USD 192m) a year earlier.
Why this mattersAn open-ended delay to 2.6 million tonnes of short-fibre capacity defers a large block of expected global pulp supply growth while Eldorado's net debt has risen tenfold.
- Eldorado's board authorised preparing the company's merger into J&F, which is centralising group finances; Ambar Energia has already been merged in.
- The second Tres Lagoas line would add 2.6 million tonnes/year, taking short-fibre capacity to about 4.4 million tonnes; it has no public start or completion date.
- The line is part of a BRL 25bn (USD 5bn) programme covering the mill, forests and a railway, unveiled in 2024.
- J&F closed its purchase of Paper Excellence's stake in Eldorado for BRL 15bn (USD 3.0bn) in May 2025.
- Net debt reached BRL 9.7bn (USD 1.9bn) at end-2025, up from BRL 966m (USD 192m) a year earlier.
- Eldorado issued BRL 13bn (USD 2.6bn) of commercial notes in June 2025 to fund the stake purchase; by July they had been replaced with longer, cheaper facilities.
- Eldorado's pulp production was stable in 2025 despite the ownership dispute.
- BNDES approved USD 188m (BRL 1.05bn) in December 2025 for an 86.7km rail link to the Aparecida do Taboado terminal
- Suzano started its 2.55m tonne a year Ribas do Rio Pardo pulp plant in 2024
- Arauco is developing the 3.5m tonne a year Sucuriu pulp project in Brazil
Hotpack Group, a UAE-based sustainable packaging manufacturer, has acquired a significant stake in Oman's Pride Packaging, opening the way for its entry into manufacturing in Oman. The partners plan an integrated packaging production complex in the coastal Wilayat of Barka in northern Oman, under a memorandum of understanding signed at the Inspire Oman Investors Summit 2026. Hotpack said the move is part of a five-year expansion plan covering Oman, Saudi Arabia, Malaysia, Jordan and India.
Why this mattersLocal production in Oman gives Hotpack, with 25 plants in 17 countries, a manufacturing base inside a Gulf market it expects to grow 4.36% a year.
- Hotpack Group, a UAE-based sustainable packaging manufacturer, acquired a significant stake in Oman's Pride Packaging.
- The deal paves the way for Hotpack's entry into manufacturing in Oman, via an integrated packaging complex planned in the coastal Wilayat of Barka.
- The memorandum of understanding was signed at the Inspire Oman Investors Summit 2026 in Muscat, organised by the Oman Chamber of Commerce and Industry.
- Hotpack plans further investment over the next five years in Oman, Saudi Arabia, Malaysia, Jordan and India.
- Hotpack operates 25 manufacturing facilities in 17 countries and exports over 4,500 products to 107 markets.
- Hotpack cited an expected compound annual growth rate of 4.36 percent for Oman's packaging sector.
PT Megalestari Epack Sentosaraya (EPAC) plans to close its conventional flexible packaging segment completely by 31 December 2026 to reduce operating cash outflows after its court-sanctioned debt restructuring. Replying to an Indonesia Stock Exchange query, the company said it had borrowed from affiliate PT Triple Berkah Bersama, with no fixed maturity, to meet its restructuring obligations. It also plans a rights issue, subject to shareholder approval on 3 November 2026.
Why this mattersA segment closure, an affiliate loan with no fixed maturity and a planned rights issue point to continuing cash pressure at EPAC after its court-sanctioned restructuring.
- EPAC targets full closure of its conventional flexible packaging business segment by 31 December 2026.
- EPAC signed a loan agreement with affiliate PT Triple Berkah Bersama to meet obligations under its court-sanctioned debt restructuring (homologasi).
- The loan has no fixed maturity date, with principal repayments matched to EPAC's cash flow.
- EPAC's controlling shareholder has said it is ready to provide further bridge financing on similar terms if needed.
- EPAC plans a rights issue (PMHMETD), subject to approval at an extraordinary general meeting on 3 November 2026.
- The disclosure responds to an Indonesia Stock Exchange query letter dated 16 October 2026.
Guala Closures has launched Pharma by GC, a new division for primary pharmaceutical and healthcare packaging, unveiled at CPHI Milan on 6-8 October 2026. The division combines Guala's manufacturing sites in Poland and India with the engineering expertise of Austrian medical packaging specialist KWK, acquired by Guala at the end of 2025. Chief executive Andrea Lodetti said the group plans further technology investment and targeted M&A to grow the unit.
Why this mattersA beverage closures maker now offers GMP-grade pharmaceutical closures, adding a supplier for drug and nutraceutical packagers and signalling further acquisitions in the segment.
- Guala Closures launched the Pharma by GC division at CPHI Milan, held 6-8 October 2026
- The division integrates KWK, an Austrian medical packaging manufacturer with 75 years of experience, acquired by Guala at the end of 2025
- Production is based at Guala sites in Poland and India
- The range splits into Care, for prescription drugs under GMP and ISO 15378 standards produced in ISO 8 cleanrooms, and Vitality, for over-the-counter and nutraceutical products using ROPP and GPI closures in plastic and aluminium
- CEO Andrea Lodetti said the group intends further technology investment and targeted M&A to accelerate the division's growth
Seungsan Pack, a maker of steel pallets and metal cases for heavy export cargo in Yeosu, South Korea, has been put up for sale, with Samil PwC as adviser and non-binding letters of intent already received from several investors. The company is weighing a sale of its entire equity, including control, against a minority investment, and is expected to name a preferred bidder soon. Restructuring of Yeosu's petrochemical cluster, where ethylene capacity is to fall from 3.52m to 2.13m tonnes, is squeezing local demand.
Why this mattersThe sale puts a Korean export packaging maker with overseas production in play as petrochemical restructuring in Yeosu cuts demand from its main local customers.
- Seungsan Pack, a steel pallet and metal case maker in Yeosu, South Korea, was reported for sale on 20 October 2026
- Samil PwC is sale adviser; non-binding letters of intent have been received from multiple investors
- Options are a sale of the entire equity including control, or a minority stake investment
- The company runs about 12,000 pyeong (about 40,000 square metres) of factory space in Korea and about 40,000 pyeong (about 132,000 square metres) abroad
- Yeosu ethylene capacity is set to fall by 1.39m tonnes to 2.13m tonnes under government-approved petrochemical restructuring
- Founded in 1988 as Woosuk Packaging, a cardboard box maker, the company also produces corrugated board and boxes
ACR (AmerCareRoyal), a US foodservice essentials distributor backed by Oridian Capital Partners, has acquired Ultra Green Packaging, a Minnesota-based supplier of molded fibre and rPET foodservice packaging. The deal is ACR's twelfth add-on acquisition since partnering with Oridian, and adds molded fibre trays and bakeware to ACR's PrimeWare compostable packaging line. No deal value was disclosed.
Why this mattersDistributor-led roll-ups are adding fibre-based ranges as grocery and foodservice customers ask for compostable formats; this is Oridian's twelfth add-on through ACR.
- ACR has made twelve add-on acquisitions since partnering with Oridian Capital Partners.
- Ultra Green Packaging is headquartered in Mound, Minnesota, and supplies molded fibre and rPET-lid foodservice packaging.
- Ultra Green's products include take-n-bake pizza trays, sushi trays and bakeware.
- No deal value was disclosed.
- Ultra Green president and owner Kristin Davidson remains involved post-acquisition.
- Tamarack Advisory Partners advised Ultra Green; Greenberg Traurig advised ACR.
- Taft also advised Ultra Green Packaging alongside Tamarack Advisory Partners
- Oridian Capital Partners was formerly known as HCI Equity Partners
Silgan Holdings is to combine its Metal Containers segment and Food and Beverage Flat Cap Closures business with Trivium Packaging, currently owned by Ontario Teachers' Pension Plan and Ardagh Group, to form Silgan Metal Containers and Closures. The all-cash deal values Trivium at USD 3.4bn enterprise value, 7.1x LTM adjusted EBITDA (4.8x including expected synergies), and Silgan's contributed units at USD 3.8bn, 8.1x LTM adjusted EBITDA. Silgan will hold 60% and American Industrial Partners 40%, with the Trivium acquisition expected to close in mid-2027.
Why this mattersThe deal creates a larger metal containers and closures group across North America and Europe, while USD 2.3bn of cash proceeds lets Silgan retire debt.
- Trivium valued at about USD 3.4bn enterprise value, 7.1x LTM adjusted EBITDA, or 4.8x including USD 225m of expected synergies.
- Silgan's contributed Metal Containers segment and Food and Beverage Flat Cap Closures businesses valued at USD 3.8bn, 8.1x LTM adjusted EBITDA.
- Silgan receives about USD 2.3bn in cash proceeds to retire existing debt and keeps a 60% controlling stake in Silgan Metal Containers and Closures.
- American Industrial Partners holds the remaining 40% and contributes about USD 1.0bn of cash equity.
- Trivium, owned by Ontario Teachers' Pension Plan and Ardagh Group, has 57 locations, 7,200 employees and about USD 3bn of 2025 sales.
- The Trivium acquisition is expected to close in mid-2027.
- The combined venture is named Silgan MCC, with Europe accounting for 36% of its sales.
- Silgan MCC pro forma net sales are USD 9.8bn and EBITDA USD 1.5bn, with leverage of about 4.4x at closing.
- Fitch has affirmed Silgan Holdings' Long-Term Issuer Default Rating at 'BB+' with Stable Outlook, and secured debt at 'BBB-', following the transaction.
Saudi Printing & Packaging (SPP) has agreed to sell its polypropylene cup and plastic container production lines in the UAE to Al Aamal Al Dhahabiya General Trading for SR1.12m (USD 297,583). The lines, operated through subsidiary Commercial United Packaging Company (CUPCO), carried a book value of SR6.1m at 30 September 2026, implying a non-cash loss of roughly SR5m. The sale follows SPP's February decision to shut down its other UAE subsidiary, Al Madinah Packaging Co (City Pack).
Why this mattersThe disposal shows a mid-sized regional converter retreating from lower-margin single-use plastics to cut debt and refocus on higher-margin segments.
- Deal price SR1.12m (USD 297,583)
- Buyer is Al Aamal Al Dhahabiya General Trading
- Lines held book value of SR6.1m as of 30 September 2026
- Expected non-cash loss of approximately SR5m on completion
- Lines were operated by CUPCO, owned via Emirates National Factory for Plastic Industries
- In February SPP began shutting down UAE subsidiary Al Madinah Packaging Co (City Pack)
Shareholders of Arauco's Argentine subsidiary have approved a general authorisation to sell company assets, with no properties, buyers or prices disclosed. Local press reports suggest the sale could cover offices, land and forest holdings deemed non-strategic, as Arauco advances its USD 4,600m Sucuriu pulp project in Brazil.
Why this mattersSales of Argentine land and forests would reshape Arauco's regional footprint while it builds a USD 4.6bn Brazilian pulp mill, though no link between the two is documented.
- An extraordinary shareholders' meeting of Arauco Argentina, called for 19 October 2026, approved a general authorisation to transfer company assets, without naming properties, buyers or amounts.
- Diario Financiero reported the authorisation could cover offices, land and forest holdings considered non-strategic.
- Arauco's Sucuriu pulp project in Inocencia, Mato Grosso do Sul, Brazil, carries a planned investment of USD 4,600m and capacity of 3.5m tonnes a year.
- Sucuriu's first stone was laid in April 2025, with start-up planned for late 2027.
- In August 2025 Arauco announced a financing package of about USD 2,200m for Sucuriu, with IDB Invest, the IFC and guarantees from Finland's Finnvera.
- ICI Forestal found no corporate document assigning proceeds from any specific Argentine sale to the Brazilian project.
Zotefoams has acquired Pennsylvania-based Verttec, a maker of crosslinked technical roll foam, for up to USD 7.3m, adding a product line it previously lacked in the US. The deal comprises USD 5.1m paid upfront on a cash-free, debt-free basis, plus up to USD 2.2m in earn-outs over 24 months tied to revenue performance. Verttec will keep operating from its existing Pennsylvania site under current president Ryan Dempsey.
Why this mattersBuying rather than building gives Zotefoams US crosslinked-foam capacity for up to USD 7.3m, against an estimated USD 20m and five years to replicate it organically.
- Zotefoams pays up to USD 7.3m for Verttec, including USD 5.1m upfront and up to USD 2.2m in contingent earn-outs over 24 months.
- Verttec reported unaudited revenue of USD 5.1m and adjusted EBITDA of USD 0.3m for the year ended 31 December 2025.
- Verttec's revenue has grown at a compound annual growth rate of approximately 9% since 2023.
- Zotefoams estimated organic replication of Verttec's capabilities would cost approximately USD 20m and take five years.
- Verttec operates two crosslinked roll foam production lines at its East Greenville, Pennsylvania facility, which continue under the deal.
- Ryan Dempsey remains Verttec president under a new employment agreement.
Polinas, the flexible packaging film producer owned by Turkey's Yildiz Holding through its Gozde Girisim arm, is preparing to acquire sole control of Imaj Ambalaj, a Turkish packaging exporter with around EUR 40m (USD 45m) annual revenue. Imaj Ambalaj, based in Gebze and part of Aktif Holding, exports to more than 30 countries and employs over 250 people. Financial terms of the deal have not been disclosed.
Why this mattersPolinas, a flexible packaging film producer, would gain 15,000 tonnes of annual packaging capacity and export customers in more than 30 countries.
- Polinas, held by Yildiz Holding through Gozde Girisim, is preparing to take sole control of Imaj Ambalaj.
- Imaj Ambalaj, part of Aktif Holding, has annual revenue of about EUR 40m.
- Imaj Ambalaj has annual production capacity of 15,000 tonnes at a 41,500 sq m plant in Gebze.
- Imaj Ambalaj exports to more than 30 countries, from Europe to North America.
- Imaj Ambalaj was founded in 2001 and employs more than 250 people.
- Financial terms of the transaction were not disclosed.
Polinas Plastik, a portfolio company of Gözde Girişim, has completed its purchase of a 67% stake in Turkish packaging producer Imaj Ambalaj for EUR 4.02m (USD 4.52m), becoming its controlling shareholder. Turkey's Competition Authority cleared the deal on 3 September 2026, and payment was made and the closing reported to the Public Disclosure Platform on 16 October 2026. Imaj runs a 15,000-tonne-a-year plant in Gebze with annual revenue of about EUR 40m.
Why this mattersPolinas adds 15,000 tonnes of Gebze capacity and an exporter reaching over 30 countries, bringing two Ülker-family-linked packaging producers under one owner.
- Polinas paid EUR 4.02m (USD 4.52m) for 67% of Imaj Ambalaj
- Closing conditions were met with payment on 16 October 2026 and the deal was disclosed to KAP
- Turkey's Competition Authority approved the change of control on 3 September 2026
- Imaj Ambalaj, founded in 2001, has a 41,500 sq m plant in Gebze, Kocaeli, with 15,000 tonnes of annual capacity
- Imaj has annual revenue of about EUR 40m (USD 45m), more than 250 employees and exports to over 30 countries
- Imaj owner Mehmet İman is related to Murat Ülker, former chairman of Yildiz Holding
Asia Pulp & Paper and CVC Capital Partners are separately weighing bids for Essity's consumer tissue division, with RGE also named as a potential bidder, Bloomberg reported citing people familiar with the process. The business, which includes the Cushelle, Tempo and Tork brands, could be valued at around EUR 3bn (USD 3.4bn), and a sale process is expected to start this month. Essity says its strategic review remains open and it may decide not to divest.
Why this mattersA sale would transfer the Cushelle, Tempo and Tork brands from Essity to an Asian pulp and paper group or a financial sponsor, changing ownership of a major European tissue portfolio.
- Asia Pulp & Paper and CVC Capital Partners are separately considering bids for Essity's consumer tissue division, according to Bloomberg sources
- RGE is also named as a potential bidder
- The tissue business, including the Cushelle, Tempo and Tork brands, could be valued at around EUR 3bn (USD 3.4bn)
- The sale process is expected to start this month
- Essity says its strategic review remains open, including the possibility of not divesting
- Essity launched the strategic review of Consumer Tissue in May 2026, flagging possible separation
- Consumer Tissue generated SEK 43,537m net sales in 2025, 31% of group sales
- The division's 2025 EBITA excluding items affecting comparability was SEK 5,187m, an 11.9% margin
- Consumer Tissue employs about 13,000 people across 29 production facilities, with brands including Lotus, Tempo, Zewa, Cushelle, Plenty, Regio and Familia
Real estate manager Dunas Capital has bought Reno de Medici's closed carton mill at Castellbisbal near Barcelona after a reindustrialisation process involving the Catalan government and unions ended without an industrial buyer. The plant has been demolished, and construction of a logistics distribution centre is due to start in early 2027. RDM closed the mill citing falling carton demand in Spain and Portugal and supplies the Iberian market from its Paprinsa mill in Mollerussa, Lleida.
Why this mattersWith no industrial buyer found and the plant demolished, the Castellbisbal carton capacity leaves the Iberian market for good, leaving Paprinsa as RDM's Spanish mill.
- Dunas Capital acquired the former Reno de Medici carton mill in Castellbisbal, Barcelona, its first real estate asset in Catalonia.
- A reindustrialisation negotiation involving the Catalan government and unions ended without an industrial buyer.
- The existing plant has been demolished; construction of a new logistics facility is expected to start in early 2027.
- Reno de Medici cited falling carton demand in Spain and Portugal as the reason for closing the Castellbisbal plant.
- Reno de Medici continues to supply the Iberian market from its Paprinsa mill in Mollerussa, Lleida.
- The Castellbisbal deal value is estimated at EUR 50m to 60m, based on recent comparable transactions, though not officially disclosed
- The site covers 125,000 square metres of industrial land
- Dunas Capital manages over EUR 5.3bn in assets
- Castellbisbal site spans more than 125,000 square metres
- Dunas Capital Group manages over EUR 5.3bn of assets
- Andersen and Barrilero advised buyer Dunas Capital; Osborne Clarke advised seller Reno de Medici
- Deal value remains undisclosed
Lynoo Pharmaceutical Packaging, a Chinese pharmaceutical glass packaging maker, has filed with the Hong Kong stock exchange for a dual A+H listing, with CMS International as one of two joint sponsors. In H1 2026 revenue rose 34.93% year on year to RMB 673m (USD 101m), driven by heat-resistant glassware, while net profit attributable to shareholders fell 23.95% to RMB 31.16m (USD 4.66m). Operating cash flow was negative, and the controlling shareholder has pledged 78.28% of its stake to guarantee borrowings of affiliated group companies.
Why this mattersFalling vial prices and volumes, negative operating cash flow and a 78% share pledge leave Lynoo's semiconductor-glass plan at the centre of its Hong Kong listing case.
- Lynoo Pharmaceutical Packaging filed a Hong Kong listing application for a dual A+H structure, with CMS International as one of two joint sponsors.
- H1 2026 revenue rose 34.93% year on year to RMB 673m (USD 101m), but net profit attributable to shareholders fell 23.95% to RMB 31.16m (USD 4.66m).
- Operating cash flow was negative RMB 68.3m (USD 10.2m) in H1 2026, after negative RMB 19.33m (USD 2.89m) in full-year 2025.
- The average selling price of tubular glass vials fell about 17% between 2023 and 2025, and volumes dropped 20.7% in 2025 to 3.199bn units.
- Controlling shareholder Lynoo Investment Holding has pledged 78.28% of its stake (20.16% of total share capital) to banks to guarantee borrowings of affiliated companies including Lynoo Group.
- IPO proceeds are earmarked for a 4.8m-units-a-year line for semiconductor packaging glass substrates; the pilot furnace was only ignited in June 2026.
The Navigator Company has launched a programme to mobilise up to EUR 84m (USD 94.5m) in incentives for 124 partners of its Navigator Forest Producers Club. The scheme, called Rede de Fornecedores Inovadores, is run with AGROGES under Portugal's EU-funded Portugal 2030 and COMPETE 2030 programmes and offers grants of up to 50% of eligible investment in machinery, technology and digitalisation for wood suppliers, forestry service providers and hauliers in Navigator's supply chain.
Why this mattersCo-funding suppliers' machinery, technology and haulage upgrades ties Portuguese wood supply more closely to Navigator, supporting feedstock security for its pulp and paper operations.
- Programme can mobilise up to EUR 84m (USD 94.5m) for 124 partners of the Navigator Forest Producers Club
- Grants can cover up to 50% of eligible investment
- Base aid rates of 40% for micro/small firms and 30% for medium firms under the Sistema de Incentivos à Inovação Produtiva
- A further 10 percentage point bonus applies for closer ties with Navigator, plus up to 10 points more in some sub-regions
- Run with AGROGES under Portugal 2030 and COMPETE 2030, with preferential financing via Crédito Agrícola and insurance terms via Empremédia
- Navigator reported 2025 turnover of EUR 1,970m (USD 2,217m)
Polinas Plastik, a subsidiary of Yildiz Holding's investment arm Gozde Girisim Sermayesi, has taken a 67% controlling stake in Turkish flexible packaging maker Imaj Ambalaj for EUR 4.02m (USD 4.51m). The deal was disclosed to Turkey's Public Disclosure Platform on 16 October 2026 after closing conditions were met. Imaj Ambalaj generates about EUR 40m in annual revenue and exports to more than 30 countries.
Why this mattersYildiz Holding's packaging film arm gains control of an export-oriented flexible packaging converter, extending its reach to European and North American customers.
- Polinas Plastik acquired 67% of Imaj Ambalaj for EUR 4.02m (USD 4.51m) after closing conditions were met
- Deal disclosed to Turkey's Public Disclosure Platform (KAP) on 16 October 2026
- Imaj Ambalaj generates about EUR 40m in annual revenue and employs 250 people at its Gebze plant
- Imaj Ambalaj exports printed flexible packaging to more than 30 countries, mainly in Europe and North America
- Polinas Plastik is a subsidiary of Gozde Girisim Sermayesi, part of Yildiz Holding
- Polinas is described as one of Europe's five largest packaging film producers
