South African diversified packaging group Nampak said on Thursday it planned to sell its loss-making glass business. Nampak said it has approached packaging industry players to invite proposals for the sale of its glass business.
“Exploratory discussions have been held with a number of strategic players with a formal corporate finance disposal process currently in progress,” the company said.
By Tanisha Heiberg
3M and Dow have announced they are cutting thousands of roles from their global workforces in response to economic pressures. Dow has said it will cut 2,000 jobs across its global workforce (around 5%) in a bid to save US$1bn in 2023. The company says it will also cut costs by shutting down “select assets”, though it did not note where it would halt operations.
Sweden’s state mining firm has discovered what could be Europe’s largest rare earths deposit, and says it could help the bloc reduce its reliance on imports of minerals needed to manufacture clean technologies and meet climate targets.
Henkel and Avantium have been partners since 2019, when Henkel joined the PEFerence consortium. This consortium of partners, coordinated by Avantium, aims to establish an innovative supply chain for FDCA and PEF (polyethylene furanoate).