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MarketScreener Homepage  >  Equities  >  Nyse  >  Berry Global Group, Inc.    BERY

BERRY GLOBAL GROUP, INC.

(BERY)
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Berry Global : Introduces New HDPE Closure to Match Tubes for a Sustainable, Single-Substrate Package

10/29/2020 | 09:50am EST
Berry Global Introduces New HDPE Closure to Match Tubes for a Sustainable, Single-Substrate Package

EVANSVILLE, Ind. - October 28, 2020 - Berry Global Group, Inc. (NYSE: BERY) is excited to introduce its new Divinity HDPE 2 inch flip-top tube closure made from high-density polyethylene (HDPE) that, when paired with one of their squeezable polyethylene (PE) tubes, creates a sustainable single-substrate package. Tubes are an emerging packaging type in the recycling stream. Berry performed the Association of Plastics Recyclers (APR) Critical Guidance testing to validate the recyclability of their tubes with HDPE bottles. While this does not guarantee acceptance of tubes in individual recycling programs, this is an important step for fostering tube recycling. Berry is the only tube manufacturer that offers an HDPE flip-top cap for tubes.

'Tubes are an ideal packaging format for a growing number of products around the world. Consumers really like the convenience and performance that comes with a tube,' says Sarah Groves, VP Product Line Management Lisa Spencer, Product Line Manager for Tubes at Berry Global. 'It's important that we ensure that tubes, whether laminate or extruded, are part of the sustainable packaging story,' Spencer continues. 'By adding this Divinity HDPE flip-top closure to create a single-substrate package, brand owners can feel confident that Berry's tubes support their sustainability goals for recyclability.'

Berry Global places a firm focus on creating a positive environmental impact through streamlined operations, continuously engaged partners, and optimized, eco-friendly products. Through their determination to minimize waste and natural resource usage, they believe they can increase both recycling access and recycling rates.

In 2019, Berry announced their sustainability strategy through a Company initiative named Impact 2025. As part of this initiative, they focused on further increasing the positive impact they have through their products, performance, and partners with a long-term plan for the year 2025. The single-substrate tube with the Divinity HDPE closure is an important part of this commitment.

To improve recyclability, consumers are encouraged to keep the cap on the tube before tossing it in the recycling bin. The tube and cap both potentially can be recycled into pellets to be repurposed into other plastic products.

'Keeping the cap on makes it easy to recycle and reduces any confusion for the consumer,' says Diane Marret, Sustainability Director, Berry Global. 'It also prevents the closure from being discarded during sortation due to its small size.'

Berry is a leading provider of laminate and extruded tubes to the beauty, personal care, healthcare, home care, automotive and food industries. Berry offers tubes in a variety of sizes and colors with a broad selection of decorating processes include Soft Touch, hot stamping, cold foil, silk screen, flexographic printing, and registered embossing/debossing with both matte or glossy finishes. Berry manufacturers the sheet, forms and decorates the tube and produces a variety of complementary closures.


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© 2020 Berry Global Inc.

Disclaimer

Berry Global Group Inc. published this content on 28 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2020 14:49:04 UTC


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Financials (USD)
Sales 2021 12 039 M - -
Net income 2021 718 M - -
Net Debt 2021 8 441 M - -
P/E ratio 2021 10,6x
Yield 2021 -
Capitalization 7 352 M 7 352 M -
EV / Sales 2021 1,31x
EV / Sales 2022 1,30x
Nbr of Employees 47 000
Free-Float 98,1%
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TrendsBullishBullishBullish
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Mean consensus BUY
Number of Analysts 16
Average target price 68,67 $
Last Close Price 55,07 $
Spread / Highest target 38,0%
Spread / Average Target 24,7%
Spread / Lowest Target 8,95%
EPS Revisions
Managers
NameTitle
Thomas Edward Salmon Chairman & Chief Executive Officer
Rodgers Greenawalt Executive Vice President-Operations
Mark William Miles Chief Financial Officer & Treasurer
Debbie Garrison Chief Information Officer & Executive VP
Birch Evans Bayh Independent Director
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