Nampak said yesterday that it was in a stronger position to navigate through challenging economic conditions in key markets.
The company announced that over the past two years, it had been engaged in a restructuring and reorganisation process that resulted in the sale of low margin businesses, a capital expansion programme, investments in energy efficiency, improved focus on operational excellence, cost reductions and improvements in procurement processes.
The company said a R2 billion note programme was established on March 1 that would enable Nampak to issue unlisted notes to raise financing.
Volume growth in beverage cans, gains from improved performance at glass and improved efficiencies from business improvement initiatives at DivFood would contribute positively to earnings.
Glass has turned around and is expected to deliver profits in line with the previously communicated guidance.
By Sandile Mchunu
Trinseo (NYSE: TSE), a specialty material solutions provider, announced it has initiated an information and consultation process with the Works Council of Trinseo Deutschland GmbH regarding the potential closure of its styrene monomer production site in Boehlen, Germany.
H.B. Fuller Company announced that Celeste Mastin, Executive Vice President and Chief Operating Officer, will succeed Jim Owens as H.B. Fuller’s President and Chief Executive Officer, effective December 4, 2022. Upon assuming the role, Mastin will also join the Company’s Board of Directors, replacing Owens, who will be retiring.
New LyondellBasell CEO Peter Vanacker, who joined the company from Neste in May, today named his senior executive team and outlined organizational changes, including creation of a circular and low-carbon solutions business. All changes will be effective 1 October.