NEWS
Amcor sales up 13% to record level as profits improve by 5%
Packaging specialist Amcor has reported a 13% rise in full-year sales. The company reported
revenue of more than US$14.5 billion to the end of June 2022. In addition, profitability – in the form of EBIT – rose 5% to exceed US$1.7bn. “We delivered record
full-year earnings in 2021, and increased EBIT mar- gins,” said Ron Delia, CEO
Taghleef installs
new coater Taghleef Industries has installed a new coating line at its production plant in San Giorgio di Nogaro, Italy.
With a tailor-made design – and production capacity of up to 18,000 tonnes/year – the new line will allow the company to supply new high-value segments and enter emerging markets such as smart packaging. “By matching the
inherent functionalities of our base films with our in-house coating tech- nologies, we will be able to provide more tailor- made solutions to satisfy the growing variety of applications,” said Simone Baldin, business unit manager for label films in the EU. �
www.ti-films.com
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of Amcor. “This is our third consecutive year of acceler- ating top line growth. We ended the year with good momentum and expect another strong year in fiscal 2022.”
Sales in flexible packag- ing – which accounts for about 80% of the company – exceeded US$11bn, a growth of around 11%. At the same time, rigid packag- ing sales rose by around
20% to nearly US$3.4bn. Volumes were 3% higher in both flexible and rigid packaging, though there were variations in this across regions and sectors. Overall volume in North America grew, and flat in Europe. For the 12-month period ending in June 2023, the company expects a growth of 3-8% on a constant currency basis. Negative impacts include a 2% dip in
scale due to the planned sale of its Russia business. In addition, a strong US dollar could also affect perfor- mance by around 2%. “The many opportunities we see for continued underlying growth give us confidence in our outlook and we look forward to continuing to deliver on our strategic and financial objectives,” said Delia. �
www.amcor.com
VTT spins out chemical recycling
VTT of Finland is to spin out a new company – Olefy Technologies – that will commercialise its chemical recycling expertise. It says that its patent- pending technology – based on gasification – can extract over 70% virgin grade plastics and chemical raw materials components from plastic waste. The process can be done in a single step. The spin-out will happen in October.
“Plastic waste is one of the five major global problems that we have strategically set out to solve,” said Antti Vasara, CEO of VTT. Chemical recycling could
overcome several problems, such as loss in mechanical properties of mechanically recycled plastics, says VTT. Matti Nieminen, head of technology at Olefy, said: “With our recycling process, the quality of the plastic is equal to virgin grade – so it
FILM & SHEET EXTRUSION | September 2022
Above: Olefy is currently running a pilot plant at VTT Bioruukki Pilot Centre in Espoo, Finland
can be recycled indefinitely and materials no longer need to end up in landfill.” Olefy is running a pilot
plant at VTT Bioruukki Pilot Centre in Espoo, Finland. It is currently discussing partnerships and negotiat-
ing with investors for scaling, business development, and technology licensing. The first industrial demonstration operation is expected to be ready by 2026. �
www.vtt.fi �
www.olefytech.com
www.filmandsheet.com
IMAGE: VTT
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