NEWS
Milacron gets new
owner Private investment firm Bain Capital has taken a major shareholding in plastics machinery manufacturer Milacron. Bain will buy an ownership stake of around 51% of Milacron for US$287 million, subject to customary closing adjustments. Current owner Hillen- brand will retain a stake of around 49%. “With manufacturers
increasingly focused on supply-chain resilience and domestic production, we believe the US is entering a manufacturing renaissance that will create significant opportu- nities for industry leaders like Milacron,” said Matt Evans, a partner at Bain Capital Special Situations. �
www.milacron.com
Huhtamaki sales and profits drop in 2024
Finnish packaging major Huhtamaki reported flat sales and a small rise in profits in 2024.
Sales for 2024 fell by 1%
to around €4.2 billion, while profitability (adjusted EBIT) was €417m – around 6% higher than in 2023. In the final quarter of
2024, sales picked up by 2% to just over of €1bn, while profitability (adjusted EBIT) rose by 3% to €110m. “For Huhtamaki, 2024 was a solid year with improved safety perfor- mance and increased profitability,” said Ralf Wunderlich, president and CEO of Huhtamaki. “In the first half of the
year, demand was muted in many markets, while the second half saw gradual recovery.” The company’s global
Wunderlich: “Demand was muted in first half of year while second half saw gradual recovery”
food service business saw a decline of 5% over the course of the year, eventu- ally reaching just under €990m. This resulted in a similar 7% fall in profitability to around €91m. At the same time, demand for pre-packaged food in a volatile market kept the
decline in flexible packag- ing to 1%, at around €1.3bn. However, profitability in the segment rose by 7% to reach €94m.
Business in North America was flat at around €1.5bn, though it saw an 8% boost in profitability to €203m. Currency movements caused overall net sales to decline by €37m and EBIT by €4m. The company also began
a programme to make €100m in cost savings in 2024 – and achieved around €76m of this, it says. “The savings were essential to compensate for cost inflation,” said Wunder- lich. “We expect to achieve the €100m savings target and close the programme ahead of schedule.” �
www.huhtamaki.com
Evertis plans $100m PET film plant
PET film extruder Evertis is to build a US$100 million production facility in the US. The plant, in Columbia, South
Carolina, is scheduled to open in Q2 2026, with its first commercial sales to customers anticipated later that year. The initial phase will add 30,000 tonnes of new capacity to the North American packaging market and is estimated to create over 100 full-time jobs. In Q2 2028, a second phase will increase production capacity by another 30,000 tonnes, raising total annual capacity to 60,000 tonnes. “This is another important
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milestone on our journey to deliver our packaging to the doorsteps of our customers,” said Thomaz Gruber, executive VP of operations at Evertis USA. “This will enable us to offer shorter lead times and reduce supply chain risks.” Evertis is part of IMG Group, which has other plastics assets including its copolyester producing business, Selenis, which has a plant in Fayetteville, North Carolina. Dan Kearny, chief business
officer of IMG, added: “Our focus is on delivering packaging solutions to help customers minimise their environmental footprint.” �
www.evertis.com
FILM & SHEET EXTRUSION | March 2025
www.filmandsheet.com
IMAGE: HUHTAMAKI
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