Berry Global Delivers on Anticipated Sustainable Films Demand

Rhea-AI Summary

Berry Global Group, Inc. (NYSE: BERY) announced a significant investment exceeding $70 million aimed at enhancing its consumer packaging films operations. This investment will facilitate the implementation of new multi-layer blown film lines and infrastructure upgrades across various North American manufacturing sites, set to become operational in 2021 and 2022. The initiative aligns with Berry's commitment to sustainability by increasing the production of recycled content and supporting customers' sustainability goals through innovative, circular economy-focused products.

Positive

• Investment of over $70 million to enhance consumer packaging films production.
• New infrastructure and blown film lines expected to boost capacity in 2021-2022.
• Focus on sustainability and increasing recycled content aligns with customer demands.

Negative

• None.

Today, Berry Global Group, Inc. (NYSE: BERY), announced an investment of more than $70 million to support continued growth in consumer packaging films, primarily for e-commerce, food, and beverage applications. The investment supports new multi-layer blown film lines along with infrastructure upgrades and other equipment that will come online in 2021 and 2022, across multiple sites in the North American manufacturing system. Beyond the traditional infrastructure upgrade, the film lines will support the anticipated increased customer demand for recycled content.

Beyond the material, Berry is committed to remaining at the forefront of the innovation necessary to meet customers’ sustainability goals and will do so through its investments in the latest equipment technologies, advantaged film development, and design for circularity. Line flexibility is a critical investment strategy deployed by Berry to ensure that ongoing material science developments apply to customer specifications, ranging from recycled content in its films to PHA resins that support bio-resin use.

Many of Berry’s customers have publicly stated sustainability goals, many of which specify the increased use of recycled or recyclable materials. This investment will further enhance Berry’s portfolio of fully recyclable, biodegradable, or compostable films to support its customer’s needs. In addition, the Company will incorporate renewably sourced raw materials into its products−specifically, shrink film, and other flexible films.

“These investments are strategically focused on expanding our advantaged product portfolio to help our customers meet their sustainability goals, while concurrently driving innovation in anticipation of future sustainability needs in the flexible packaging market,” said Jerry Lamarre, Executive Vice President and General Manager Engineered Products for Berry’s Engineered Materials Division.

Within the flexible packaging market, Berry demonstrates its strength in design for circularity with more innovation coming to the market in partnership with its customers. Berry’s investments in infrastructure for a circular economy combined with its flexible films expertise positions the Company as one of North America’s preferred sustainable film suppliers.

About Berry

At Berry Global Group, Inc. (NYSE:BERY), we create innovative packaging and engineered products that we believe make life better for people and the planet. We do this every day by leveraging our unmatched global capabilities, sustainability leadership, and deep innovation expertise to serve customers of all sizes around the world. Harnessing the strength in our diversity and industry leading talent of 47,000 global employees across more than 295 locations, we partner with customers to develop, design, and manufacture innovative products with an eye toward the circular economy. The challenges we solve and the innovations we pioneer benefit our customers at every stage of their journey. For more information, visit our website at berryglobal.com, or connect with us on LinkedIn or Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210422005597/en/

FAQ

What is Berry Global Group's recent investment strategy?

Berry Global Group announced an investment exceeding $70 million to enhance its consumer packaging films operations, focusing on sustainability and increasing production capacity.

How will Berry Global's investment impact its operations?

The investment will support the introduction of new multi-layer blown film lines and infrastructure upgrades, aimed at meeting increasing customer demand starting in 2021 and 2022.

What sustainability measures is Berry Global implementing?

Berry Global is committed to incorporating recycled content and developing fully recyclable, biodegradable, and compostable films to meet customer sustainability goals.

When will the new production lines come online for Berry Global?

The new multi-layer blown film lines and infrastructure upgrades are scheduled to come online in 2021 and 2022.

What market is Berry Global targeting with its investment?

Berry Global's investment primarily targets the consumer packaging films market, focusing on e-commerce, food, and beverage applications.