U.S. Packaging net sales of $672.3 million for the third quarter of 2017 represented an increase of 2.2 percent compared to the same period of 2016. Compared to the prior third quarter, unit volumes were up approximately two percent. U.S. Packaging operating profit decreased to $99.6 million in the third quarter of 2017, or 14.8 percent of net sales, compared to $100.8 million, or 15.3 percent of net sales, in 2016. Compared to the prior year, profits were impacted by previously-negotiated contractual selling price reductions on select products, partially offset by manufacturing efficiencies and the benefits of increased unit volumes. Global Packaging net sales of $362.8 million for the third quarter of 2017 represented a decrease of 1.8 percent compared to the same period of 2016. Currency translation increased net sales by 0.5 percent. Organic sales decline of 2.3 percent reflects unfavorable mix of products sold, partially offset by sales price increases. Compared to the prior third quarter, Global Packaging unit volumes were relatively flat, comprised of weak volumes in the Company’s Latin American business, as anticipated, and offset by net volume growth in the remaining regions of the Global Packaging Segment. Global Packaging operating profit for the third quarter was $24.6 million, compared to $36.2 million for the same period in 2016. Compared to the prior year, lower profits in Global Packaging were driven primarily by the impact of the challenging economic environment in Brazil. Click Read More below for additional information.

Sonoco announced it has signed an agreement to sell its Europe contract packaging business to Prairie Industries Holdings, a Wisconsin-based contract packaging and contract manufacturing firm backed by The Halifax Group, a Washington, D.C.-based global investment firm, for $120 million in cash. The transaction is subject to normal closing requirements and is expected to be completed in the fourth quarter of 2020. Sonoco’s Europe contract packaging business (Sonoco Poland Packaging Services Sp. z o.o.) produced net sales of approximately $300 million in 2019 and provides full-service custom packaging and supply chain management solutions to global consumer product goods companies through six contract packaging facilities in three locations and a warehouse all in Poland. The business is part of Sonoco’s Display and Packaging segment and has approximately 2,600 employees.

ePac Flexible Packaging and RePurpose Technologies (RPT) have announced a partnership to effectively solve the crisis that leads to 9 out of 10 pieces of discarded plastic waste polluting our environment*. The community-based model, which can be replicated easily, provides a transparent and economically viable solution that can once and for all cure the grave problem of our overflowing landfills. By forming this partnership, ePac and RPT will create replicable recycling facilities starting in 2021 that are able to create a circular community-focused solution. The ability to track and trace every package will provide supply chain transparency to all parties in the value chain.