Welcome to our dedicated page for Berry Global Group news (Ticker: BERY), a resource for investors and traders seeking the latest updates and insights on Berry Global Group stock.
Berry Global Group, Inc. (NYSE: BERY) is a leading global manufacturer of plastic packaging products and protection materials. Serving a diverse range of markets, including food, beverage, personal care, household chemicals, healthcare, and industrial, Berry Global caters to over 15,000 customers, including some of the world’s largest consumer packaged goods (CPG) manufacturers. The company's strategic international expansion aims to fulfill the growing global market demands.
The company operates through four primary business segments: Consumer Packaging International, Consumer Packaging North America, Engineered Materials, and Health, Hygiene, and Specialties. Berry Global primarily utilizes plastic resin as its raw material, sourced from various suppliers.
The acquisition of RPC has bolstered the Consumer Packaging International segment, expanding Berry’s geographical footprint and boosting its revenue. This segment includes products such as closures, dispensing systems, pharmaceutical devices, packaging, bottles, canisters, polythene films, recycling, containers, and technical components.
Berry Global's impressive growth is underscored by its extensive network of 119 global manufacturing locations across 17 countries and a workforce of over 21,000 employees. The company's history of strategic acquisitions has significantly bolstered its market presence and technological capabilities.
In recent developments, Berry Global acquired F&S Tool, a North American leader in precision injection molding tools. This move aims to strengthen Berry's global tooling capabilities, bringing in proprietary technologies and manufacturing excellence.
Berry Global continues to innovate and expand, focusing on sustainable growth and maintaining a leading position in the plastic packaging industry. Stay updated with the latest news and developments about Berry Global Group, Inc. to understand its market performance and strategic initiatives.
Berry Global Group, Inc. (NYSE: BERY) has announced the pricing of a private placement for $400 million in first priority senior secured notes due January 15, 2027. The notes, which will carry a 1.65% interest rate paid semiannually, are expected to close around June 14, 2021. Proceeds will be used to prepay existing term loans and cover offering expenses. The notes are guaranteed by Berry and its domestic subsidiaries, and are being offered solely to qualified institutional buyers and non-U.S. investors. They have not been registered under applicable securities laws.
Berry Global Group (NYSE: BERY) has entered into a long-term virtual power purchase agreement (VPPA) to meet the electricity needs of its Spanish operations. This aligns with its Impact 2025 sustainability strategy, aiming for a 25% reduction in absolute Scope 1 and 2 emissions by 2025 from a 2019 baseline. The VPPA will facilitate the construction of a solar park in Guadalajara, decreasing carbon emissions by around 20,000 tons annually. Berry aims to contribute to a net-zero economy by 2050 and strengthen local renewable energy infrastructure.
Berry Global Group, Inc. (BERY) reported second fiscal quarter 2021 results with net sales of $3.4 billion, marking a 13% increase. Operating income rose 17% to $333 million, while net income per diluted share increased 40% to $1.32. The company raised its operating EBITDA guidance for fiscal 2021 by $50 million to $2.25 billion. Organic volume growth improved to 5%. Strong demand across segments, especially health and hygiene products, contributed to positive performance amid challenges from resin price inflation.
Berry Global Group (NYSE: BERY) has announced significant investments in circular polyolefins derived from advanced recycling technologies, collaborating with Borealis to secure access to in-demand materials. This initiative aims to support customer sustainability goals, with a target of accessing 600 million pounds of post-consumer recycled content by 2025. Berry plans to utilize the polypropylene from this chemical recycling for food packaging, enhancing product sustainability. This strategy reinforces Berry's commitment to a circular economy and achieving net-zero emissions by 2050.
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.
Berry Global Group, Inc. (NYSE: BERY) has committed to ambitious Science-Based Targets aimed at fostering a circular economy. The company plans to reduce operational emissions by 25% and scope 3 supply chain emissions by 8% by 2025, using 2019 as a baseline. This makes Berry the first North American plastic packaging converter to receive validation for a 1.5-degree Celsius target from the Science-Based Target Initiative. Berry has also reported a 19% reduction in its market-based GHG emissions intensity since 2016, aligning its strategies with global sustainability goals.
Berry Global Group, Inc. (NYSE:BERY) will announce its second fiscal quarter 2021 results on May 4, 2021, prior to market opening. A quarterly conference call will take place at 10 a.m. Eastern Time that day, accessible via phone or live webcast. The company emphasizes its commitment to sustainability and innovation, leveraging its extensive capabilities to develop packaging and engineered products. With over 47,000 employees globally, Berry aims to support customers through diverse and innovative solutions. A replay of the call will be available starting May 4 at 1 p.m. until May 18.
Berry Global Group (NYSE: BERY) announced a $110 million investment in its European wipes segment, enhancing production capacity for disinfectant wipes in response to pandemic-driven demand. This expansion will strengthen its existing Spunlace platform, focusing on sustainability with biodegradable or recycled materials. The new production line aims to increase capacity by over 300 million square meters and is expected to be operational by Q3 2022. This strategic move demonstrates Berry's commitment to supporting evolving consumer trends in health and hygiene.
Berry Global Group, Inc. (NYSE: BERY) has announced the pricing of a private placement by its subsidiary, expected to close on March 4, 2021. The offering entails $775 million of 1.57% first priority senior secured notes due January 15, 2026. Proceeds will be utilized to prepay existing term loans and cover related fees. The New Notes will bear interest semiannually and will be secured by liens on certain assets. These notes are offered to qualified institutional buyers and unregistered under the Securities Act.
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