Amcor plc announced its plan to acquire Berry Global Group Inc., a deal valued at $8.43 billion. This move combines Amcor's flexible and regional container operations with Berry's global containers and closures. The merger is expected to generate $24 billion in annual sales but has sparked skepticism among analysts regarding its growth potential. Concerns linger over how this merger will impact customers and shareholders.
Nov. 25: Amcor's Berry deal | Trump's impact on reshoring | Global plastics treaty
With Donald Trump returning to the presidency, experts are debating his impact on reshoring initiatives. The Reshoring Initiative highlighted a plateau in reshoring job growth, projecting 250,000 annual jobs without significant policy changes. The unpredictability of Trump's tariff strategies leaves the industry awaiting clarity on manufacturing incentives.
Revere Plastics Systems LLC plans to shutter its Auburn, Alabama, plant by the end of 2024, affecting 47 full-time and 9 temporary workers. The decision, driven by efforts to optimize operations, comes as Revere seeks growth in diversified markets like automotive and agriculture. Workers are being offered relocation opportunities to other plants.
The Erie County Water Authority filed a class-action lawsuit against seven major PVC pipe manufacturers, alleging illegal price-fixing practices. The case coincides with a U.S. Department of Justice investigation, spotlighting significant pricing discrepancies in municipal pipe markets since the COVID-19 pandemic.
Environmental groups claim the Biden administration has backtracked on supporting global production caps for plastics, a contentious issue in ongoing treaty negotiations. While some officials refute the shift, others highlight growing political pressures influencing the U.S. stance on environmental measures.
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