Suzano is attempting a further pulp price increase in October, targeting USD 600 per tonne for short-fibre pulp in China, after successfully pushing through a rise in September, according to a BTG Pactual note following meetings with Suzano executives in New York. The bank cites lower port inventories, delays to Asia Pulp and Paper's OKI II project and about 1.3 million tonnes of permanent long-fibre capacity closures as supporting near-term prices, but Suzano itself warned that new supply due in 2027, including Arauco's 3.5 million tonne Sucuriu plant and the delayed 1.4 million tonne OKI II project, could outpace demand growth of only 1-1.5 million tonnes a year and push prices lower again. Suzano said it is prioritising debt reduction and integration of its Kimberly-Clark joint venture over new capacity investment, expecting leverage to peak in the third quarter of 2026.
Why this mattersBuyers face higher pulp costs now, while 2027 capacity additions far exceed structural demand growth of 1-1.5m tonnes a year.
- Suzano is targeting USD 600 per tonne for short-fibre pulp in China in the October price round, after implementing a September rise, per BTG Pactual.
- Arauco's Sucuriu plant in Mato Grosso do Sul is expected to start in H2 2027 with capacity of 3.5 million tonnes of pulp a year.
- Asia Pulp and Paper's OKI II project, delayed to 2027, is expected to add a further 1.4 million tonnes of capacity.
- About 1.3 million tonnes of long-fibre pulp capacity have been permanently closed, supporting the recent price recovery.
- Structural pulp demand growth is estimated at only 1-1.5 million tonnes a year, below planned new supply.
- Suzano expects its leverage to peak in the third quarter of 2026 after completing its Kimberly-Clark transaction, and is prioritising debt reduction over new capacity.
- Hardwood pulp price increase of USD 50 per tonne in the Americas and Europe and USD 20 per tonne in Asia, effective 24 September 2026
- Net debt target lowered to USD 11bn from USD 12bn as of 22 September 2026
- 2026 capital expenditure plan set at USD 2.1bn
- Q2 2026 revenue of BRL 11.59bn and net income of BRL 1.81bn, with adjusted EBITDA of BRL 4.2bn at a 48% margin on pulp sales of 2.9m tonnes
Norske Skog has approved an investment of up to USD 88.9m (NOK 850m) to rebuild paper machine 6 at its Saugbrugs mill in Halden, Norway, converting the idled unit to flexible production of TMP-based kraftliner or SC magazine paper. Start-up is planned for the first half of 2028, after which production on PM4 and PM5 will cease permanently.
Why this mattersConverting a publication-paper machine adds up to 300,000 tonnes of kraftliner to European supply and permanently removes the PM4 and PM5 graphic paper lines.
- Investment of up to USD 88.9m (NOK 850m) approved for the PM6 rebuild at Saugbrugs, Halden, Norway.
- Rebuilt PM6 capacity up to approximately 300,000 tonnes/year of TMP-based kraftliner or approximately 230,000 tonnes/year of SC magazine paper.
- PM6 has been offline since a rockslide at the site in April 2023.
- Start-up of the rebuilt machine is planned for the first half of 2028.
- Production on PM4 and PM5 will cease permanently once PM6 starts up.
- Financing plans include a sale and leaseback of the PM6 building and property and a potential sale of the mill's administration office.
- An 80-100 MW data centre opportunity at the Saugbrugs site is under exploration as part of financing for the PM6 rebuild
Supremex is consolidating folding carton production from Saint-Laurent, Quebec into its Lachine plant and cutting about 60 positions, some 6% of its workforce, under a restructuring plan targeting annualised savings of USD 4.0m (CAD 5.7m). The envelope and paper packaging maker separately puts the net annual tariff hit to operating earnings at USD 7.0m to USD 8.4m (CAD 10.0m to 12.0m), after mitigation measures taken so far. Full run-rate savings are expected in the first quarter of 2027, with a restructuring charge of about USD 1.3m (CAD 1.8m) to be booked in the fourth quarter of 2026.
Why this mattersTariff costs run at about twice the targeted savings, showing the squeeze on converters shipping envelopes and cartons across the US-Canada border.
- Folding carton production moves from the Saint-Laurent, Quebec commercial print site to the Lachine, Quebec flagship plant, cutting Saint-Laurent's floorspace
- Approximately 60 positions eliminated, about 6% of the workforce
- Annualised savings of USD 4.0m (CAD 5.7m), with benefits from Q4 2026 and full run-rate in Q1 2027
- Estimated net tariff impact of USD 7.0m to USD 8.4m (CAD 10.0m to 12.0m) a year on operating earnings before tax, after mitigation to date
- Restructuring charge of about USD 1.3m (CAD 1.8m) before taxes to be booked in Q4 2026, mostly severance
- Plan also pools Canadian and US envelope activities into centres of excellence and accelerates back-office technology deployment
Hong Kong Exchanges and Clearing has decided to cancel the listing of Greatview Aseptic Packaging, in a decision issued on 2 October 2026 and disclosed by parent Xinjufeng on 8 October, after the shares passed the exchange's 18-month suspension limit on 18 August 2026. Trading has been halted since 19 February 2025, following a dispute over an overseas business restructuring that left auditors without complete financial records and a breach of the minimum public float once Xinjufeng reached 97.76%. Absent a review request within seven business days, the last trading day is 16 October 2026 and the listing ends on 20 October 2026.
Why this mattersDelisting removes the Hong Kong equity platform of a leading aseptic carton supplier, closing a cross-border funding and disclosure channel for its Chinese owner Xinjufeng.
- HKEX's listing committee decided to cancel Greatview's listing; the decision was issued on 2 October 2026 and disclosed by Xinjufeng on 8 October 2026
- Shares have been suspended since 19 February 2025 and the 18-month suspension limit expired on 18 August 2026
- Last trading day is 16 October 2026 absent a review request; the listing is cancelled from 9am on 20 October 2026
- Xinjufeng holds 97.76% after buying 28.22% in 2023 and completing in March 2025 a general offer at USD 0.34 (HKD 2.65) per share, at a combined cost of USD 501m (CNY 3.355bn)
- The suspension followed an overseas restructuring that left incoming management without complete financial records, limiting the audit scope, alongside the public float breach
- Greatview's revenue fell from USD 588m (CNY 3.937bn) in 2022 to USD 277m (CNY 1.857bn) in 2025
- New Huijin plans to fully integrate Greatview as a wholly owned subsidiary once delisting proceeds, combining equipment and packaging-material operations for global rollout.
- The combined New Huijin-Greatview group's share of China's aseptic packaging market has risen above 20%, second only to Tetra Pak, with annual capacity above 50 billion packs.
- Domestic suppliers' share of leading Chinese dairy companies' aseptic packaging procurement rose from under 30% in 2024 to near 42% in H1 2026.
- Greatview filed a review application with HKEX's Listing Review Committee on 13 October 2026
- The board said the outcome of the review remains uncertain and the suspension continues until further notice
- Greatview engaged BT Corporate Governance Limited for a further follow-up internal control review, with a report dated 11 September 2026
- Management accepted all deficiencies and improvement recommendations identified in the review
- Greatview filed a review application with HKEX's Listing Committee on 13 October 2026 contesting the cancellation of its listing.
- A 2024 restructuring by Greatview's then management cut its direct stake in international unit Greatview International from 100% to 49%, ceding control to an outside fund.
- An independent investigation found former executives diverted a RMB 100m shareholder loan at 1% interest, moved about 70 staff and core IT systems, and imposed five-year non-compete clauses on roughly 1,600 customers now tied to renamed entity Wintipak AG.
- New Lead Holdings' auditor issued a qualified opinion on its 2025 accounts after being unable to obtain Greatview International's financial records.
Spanish pulp producer Ence has inaugurated three projects at its Navia bioplant in Asturias, totalling more than EUR 200m (USD 224m): a fluff pulp line, a higher-capacity wood processing line and a lime kiln decarbonisation scheme. The fluff pulp line, EUR 160m (USD 179m) of the total, targets the European absorbent products market as a eucalyptus-based alternative to long-fibre pulp, with qualification under way with over 70 customers. A separate EUR 12m (USD 13.4m) first phase is developing moulded pulp aimed at replacing plastic packaging in food applications.
Why this mattersA dedicated European eucalyptus fluff pulp source and a moulded-pulp line give converters a new domestic fibre alternative to plastic and imported long-fibre pulp.
- Total investment at the Navia bioplant exceeds EUR 200m (USD 224m)
- Fluff pulp line accounts for more than EUR 160m (USD 179m), targeting the European absorbent products market as an alternative to long-fibre pulp
- Ence says Navia is the only facility producing fluff pulp from eucalyptus, with qualification under way with over 70 international customers
- New wood processing line handles 5,400 cubic metres of wood per day, with two debarkers and a chipper
- Wood processing and lime kiln decarbonisation together cost EUR 48m (USD 53.8m), including EUR 13m (USD 14.6m) from Spain's IDAE energy efficiency programme
- Lime kiln conversion to biomass targets a cut of more than 40,000 tonnes of CO2 a year; a separate first phase of EUR 12m (USD 13.4m) covers moulded pulp to replace plastic food packaging
- Lime kilns now fitted with new multi-fuel burners enabling the switch from fossil fuels to biomass
- Ence states its ambition is to fully decarbonise the Navia plant
- New moulded-pulp facility at Navia exceeds 6,000 square metres
- Production targeted to start in summer 2027
- Process uses virgin pulp sheets formed and heat-pressed into thin-walled, plastic-substitute food containers
- Plant director María Luz Sánchez Galán describes the project as a new industrial activity line for Ence
- Moulded-pulp plant building at Navia exceeds 6,000 square metres
- Production start targeted for summer 2027
- Civil works have begun following demolition of a previous disused facility on site
- Process comprises pulp preparation, moulding and drying, with an optional water-resistant coating
Oji Holdings has broken ground on a new aseptic liquid-packaging plant in Dong Nai, Vietnam, under its Oji Liquid Pak brand, with total investment of USD 110m (VND 2,800 billion). The 57,000 sqm plant at Long Thanh High-Tech Park is expected to start operations in 2028 with capacity of 8 billion cartons a year and more than 200 new jobs, adding to Oji's existing Vietnamese network of three Ojitex plants and a United Packaging facility.
Why this mattersEight billion cartons a year of new aseptic capacity from 2028 shifts regional liquid-packaging supply closer to Southeast Asian fillers.
- Total investment is USD 110m (VND 2,800 billion)
- Plant site covers approximately 57,000 sqm at Long Thanh High-Tech Park, Dong Nai city
- Groundbreaking took place on 10 October 2026
- Planned annual capacity is 8 billion cartons
- Operations expected to start in 2028
- More than 200 new jobs to be created
- Oji Liquid Pak was established in Vietnam in 2025.
- The plant works alongside IPI, an Italian aseptic carton and equipment maker that joined Oji Holdings in 2023.
- Oji Liquid Pak was established in Vietnam in 2025 as part of Oji Group
- Plant technology draws on more than 40 years of aseptic packaging experience from Italian unit IPI, acquired by Oji Holdings in 2023
- Oji Group already operates Ojitex Vietnam, Oji Interpack and United Packaging in Vietnam
- Oji Liquid Pak is a joint venture between Oji Holdings and Italian aseptic packaging technology group IPI
- First client deliveries are expected in the first half of 2028
- Plant technology draws on more than 40 years of aseptic packaging experience from Oji group company IPI of Italy.
Orora reported a net loss of USD 430.6m (AUD 616.6m) for the 2026 financial year, driven by a USD 503.1m (AUD 720.5m) impairment on its glass business. Shareholder Sandon Capital, which holds less than 1% of the company, says it will vote against the remuneration report and bonuses for chief executive Brian Lowe at the annual general meeting on 14 October. Its objections also cover the strategy behind Orora's acquisition of French glassmaker Saverglass, after weak European glass volumes and destocking weighed on the result while the can business held up better.
Why this mattersA USD 503.1m (AUD 720.5m) glass impairment and an investor vote against pay place Orora's Saverglass-led strategy and glass cost base under shareholder scrutiny.
- FY2026 net loss of USD 430.6m (AUD 616.6m), driven mainly by a USD 503.1m (AUD 720.5m) impairment on the glass business
- Revenue from continuing operations rose 6.5% to USD 1.5544bn (AUD 2.2259bn)
- Net profit before significant items fell 5.9% to USD 99.3m (AUD 142.2m)
- Total dividend cut to USD 6.3 cents (AUD 9.0 cents) per share from USD 7.0 cents (AUD 10.0 cents)
- Sandon Capital, holding under 1% of Orora, will vote against the remuneration report and CEO Brian Lowe's bonuses at the AGM on 14 October 2026
- European glass demand was hit by weak volumes and destocking, while the can business was more stable
The European Commission has cleared Apax Partners' purchase of Gerresheimer's Primary Packaging Plastics unit, a business valued with Centor at about USD 1.68bn (EUR 1.5bn) enterprise value under the agreement signed in late July. The two businesses ran 16 plants in nine countries, employed around 2,400 people and generated about USD 639m (EUR 570m) of revenue in 2025. The Commission found no overlap in the same or vertically related markets and reviewed the case under its simplified procedure.
Why this mattersClearance moves a EUR 1.5bn pharmaceutical and cosmetics primary-packaging platform into private equity hands and funds Gerresheimer's shift to drug delivery and injectables.
- European Commission cleared Apax Partners' acquisition of sole control of Gerresheimer's Primary Packaging Plastics unit on 8 October 2026 under the EU Merger Regulation
- The late-July agreement, which also included Centor, values the businesses at about USD 1.68bn (EUR 1.5bn) on an enterprise value basis
- The two businesses operated 16 plants across nine countries, employed around 2,400 people and generated about USD 639m (EUR 570m) of revenue in 2025
- The unit makes primary plastic packaging, mainly for pharmaceutical, personal care and cosmetics customers
- The Commission found the parties are not active in the same or vertically related markets; case number M.12602, simplified procedure
- Gerresheimer is divesting to reduce debt and focus on drug delivery systems, medical devices and primary packaging for injectable medicines
Aluminium producer Speira has inaugurated a beverage-can recycling furnace at its Rheinwerk site in Neuss, Germany, adding around 60,000 tonnes of annual recycling capacity. The EUR 40m investment also covers the upgrade of a third casting line for recycled alloys and storage for 6,500 tonnes of can scrap in the halls of the former primary smelter. Red Bull, whose energy drinks use cans made from Speira's recycled aluminium, attended the opening.
Why this mattersMore recycled aluminium supply in Europe reduces can makers' reliance on energy-intensive primary metal and import-dependent raw material flows.
- Speira invested around EUR 40m in the new furnace and related upgrades at Rheinwerk in Neuss, Germany.
- The furnace adds approximately 60,000 tonnes of annual recycling capacity for beverage cans.
- Storage space for 6,500 tonnes of can scrap was added in former aluminium smelter halls.
- The furnace is built 'h2 ready' for future connection to the hydrogen grid.
- Red Bull, which uses cans made from Speira's recycled aluminium, attended the opening ceremony.
- Recycling aluminium uses around 95% less energy than primary production, according to Speira.
Borouge International is investing to expand mechanical recycling output at its Niedergebra, Germany and Wildon, Austria plants, adding close to 9 kilotonnes of recycled mixed polyolefin and up to 5 kilotonnes of recycled polyethylene capacity respectively. The Niedergebra expansion is expected on stream in the first quarter of 2027 and the Wildon expansion in the fourth quarter of 2027, aimed at meeting rising customer demand for circular polyolefins driven partly by the EU Packaging and Packaging Waste Regulation.
Why this mattersMore European recycled-polyolefin capacity improves packaging converters' access to recycled content as PPWR mandates approach, easing a tight supply chain.
- Niedergebra, Germany (formerly mtm plastics) to add close to 9 kilotonnes of annual recycled mixed polyolefin (rPO) capacity, operational Q1 2027.
- Wildon, Austria (formerly Ecoplast) to add up to 5 kilotonnes of annual recycled polyethylene (rPE) capacity, on stream Q4 2027.
- Borouge International's Elin Pelin, Bulgaria plant already produces over 20 kilotonnes a year of recycled polypropylene (rPP).
- Borouge Group International AG was formed in 2026 by combining Borouge Plc, Borealis and NOVA Chemicals, backed by ADNOC's XRG and OMV.
- The company also supplies recycled PE film grades from a plant in Indiana, US, as part of its North American circular materials offering.
