The merger between Berry Global’s Health, Hygiene and Specialties Global Nonwovens and Films (HHNF) business and Glatfelter Corporation has been completed, resulting in the creation of Magnera Corporation. Magnera is described as the world’s largest nonwovens company, with a broad platform of solutions for the specialty materials industry.
The new company will begin trading on the NYSE under the new ticker symbol “MAGN” on Tuesday, November 5, 2024.
Berry CEO Kevin Kwilinski says: “With this move to optimize our portfolio, we solidify our position as a global leader of consumer-focused packaging solutions while enhancing the stability of our earnings, free cash flow and growth.”
“We are confident that employees transferring to Magnera will benefit from the new company’s strong leadership and focused capabilities, and we are grateful for their contributions.”
Yesterday, Berry completed the separation of HHNF through a spin-off of all the outstanding shares of its wholly owned subsidiary that owned HHNF (“Spinco”). Spinco was then merged into a wholly owned subsidiary of Magnera.
As a result of the transaction, each Berry stockholder received 0.276305 shares of Magnera and continued to hold the same number of shares in Berry they held prior to the transaction.
In other news, Berry Global recently launched an easy-squeeze ophthalmic 10 ml bottle qualified for use with Aptar Pharma’s globally recognized Ophthalmic Squeeze Dispenser. The ergonomic, pocket-size design maximizes user convenience and is optimized for flow control to support precise drop dispensing.
By Joshua Poole
Source: packaginginsights.com
Konecranes has received an order to supply 39 industrial cranes, with lifting capacities ranging from a couple of tons to several hundred of tons, to Hitachi Energy’s new transformer manufacturing facility in Mustasaari, Finland. The order includes cranes, all designed to meet the demanding requirements of heavy transformer production.
Regulatory approvals have been obtained from other jurisdictions, including the European Union, but the approval from the Chinese State Administration for Market Regulation (SAMR) is still pending. The standalone preparations and carve out of MacGregor have progressed according to plan.
Bühler has opened a dedicated Puffing Application Centre at its facility in Uzwil, Switzerland, targeting food manufacturers developing puffed grain and pulse products at industrial scale. The centre addresses growing demand for plant-based snacks, breakfast cereals and bakery applications with enhanced nutritional profiles and reduced processing costs.
