Berry Global Group, Inc. - BERY STOCK NEWS

Berry Global Group (NYSE: BERY) has announced that three of its North American sites have achieved the ISCC PLUS certification, validating their production of sustainable packaging. This certification responds to rising customer demand for recycled and renewable material in packaging. The certified facilities in Evansville, Nashville, and Odon will provide products that adhere to high environmental standards, allowing Berry to offer circular products and help customers meet sustainability objectives. Berry now operates a total of 39 ISCC PLUS certified facilities globally.

Berry Global Group, Inc. (NYSE: BERY) announced that its Chairman and CEO, Tom Salmon, has been appointed as an Officer of the Alliance to End Plastic Waste. As a founding member, Berry Global aims to tackle plastic waste through collaboration with over 80 member companies. Salmon emphasized the importance of partnerships and the need for sustainable, circular solutions in the plastics value chain. The Alliance focuses on advancing a circular economy by enhancing infrastructure, innovation, education, and cleanup initiatives to combat plastic waste effectively.

Berry Global Group (NYSE: BERY) announced an exchange offer for up to $800 million of 0.95% First Priority Senior Secured Notes due 2024, $1.525 billion of 1.57% notes due 2026, and $400 million of 1.65% notes due 2027. This move allows holders of the existing unregistered notes to exchange them for new registered ones with better transferability. The offer runs until October 19, 2021. U.S. Bank National Association serves as the exchange agent, with details available in the prospectus dated September 20, 2021.

Berry Global Group (NYSE: BERY) plans to invest over $110 million to expand its foodservice packaging operations in North America. This move will enhance its polypropylene thermoforming capabilities to produce clear cups and lids for quick-service restaurants, aligning with sustainability trends. The expansion is expected to generate 200 new jobs and support increased recycling efforts for polypropylene, a more environmentally friendly packaging option. The company anticipates a 60% increase in sales, driven by custom solutions for brand owners.

Berry Global Group, Inc. (NYSE: BERY) has joined the Recycling Partnership’s Polypropylene Recycling Coalition to improve recycling access for polypropylene. The coalition has allocated $4.2 million in grants to enhance recycling facilities impacting nearly 15 million U.S. residents and aims to increase polypropylene recovery by 13 million pounds annually. Berry's collaboration includes installing advanced robotics in Evansville, Indiana, to better sort polypropylene, contributing to a circular economy and sustainable practices.

Berry Global Group, Inc. (NYSE: BERY) announced plans to establish a second manufacturing facility and global healthcare center of excellence in Bangalore, India. This facility will enhance R&D capabilities and production for key healthcare sectors, including ophthalmic, nasal pumps, inhalation, and injectables. Set to begin construction later this year and be operational by summer 2023, this investment aims to address the growing healthcare market needs in India and South Asia. The existing Bangalore site is a market leader and has received ISCC Plus accreditation for sustainable packaging solutions.

Berry Global Group (NYSE:BERY) reported strong results for the June 2021 quarter, boosting its fiscal 2021 operating EBITDA outlook to $2.26 billion. The company reduced its net debt to adjusted EBITDA ratio from 4.3 to 3.9, demonstrating improved financial health. Net sales surged by 26% to $3.675 billion, driven by price increases and organic volume growth of 5%. However, operating income slightly dipped by 1% to $343 million, mainly due to inflation impacting price cost spread and rising operational expenses.

Berry Global Group (NYSE: BERY) announced new projects to achieve a goal of eliminating 100 million kilowatt hours (kWh) of electricity from operations, surpassing its previous target of 1 million kWh set in 2020. The company has already approved initiatives and is ahead of its original deadline. These energy reductions will significantly lower Berry's scope 1 and 2 emissions, also impacting customers’ scope 3 emissions. The total saved energy could power over 8,500 homes for a year, showcasing Berry's commitment to sustainability and reducing carbon footprints.

Berry Global Group (NYSE: BERY) will announce its third fiscal quarter 2021 results on August 5, 2021, before the New York Stock Exchange opens. The quarterly conference call is scheduled for 10 a.m. Eastern Time on the same day, providing insights into the company's performance. Interested parties can access the call via telephone or live webcast on the company's website. A recorded replay will be available starting 1 p.m. Eastern Time on August 5 until August 19, 2021.