1、7T2se3r0Ot6kwoPa7T2se3r0Ot6kwoPaDistributed on:11/07/2025 08:38:09 GMTDistributed on:11/07/2025 08:38:09 GMT11 July 2025Deutsche Bank GroupDeutsche Numis Research Europe Ireland United Kingdom Paper&Forest Products Paper&Forest Products Industry The Packaging Wrap Date Industry Update Sector strengt

2、hens;US industry discipline;containerboard M&AWelcome to the latest edition of The Packaging Wrap,a regular look at the news flow that has caught our eye recently,and the implications this has for global paper and packaging stocks.Sector performance strengthensThe sector has delivered a stronger per

3、formance since the last edition of the Packaging Wrap in June,with the MSCI World Containers&Packaging Index increasing by+7.2%over the last month,led by US-listed stocks in the sector.Notable share price moves for us over the last four weeks have been Smurfit Westrock(+9.6%),International Paper(+11

4、.3%),Stora Enso(+10.1%),and Packaging Corp of America(+8.0%).European P&P tariff uncertaintyThe European pulp and paper industry was thrown into further uncertainty this week after US President Donald Trump delayed the deadline for reaching trade deals with international partners until August 1.Earl

5、ier hopes of a deal between the EU and the US ahead of the original deadline of July 9th would likely have avoided the risk of tariffs of up to 50%on imports of EU goods to the US.US industry discipline improvingCascades announced the closure of its corrugated medium manufacturing facility in Niagar

6、a Falls,NY,with production ending by no later than September 3 this year,removing 200,000 tonnes p.a.of production capacity from the US market.Containerboard M&A steps upPackaging Corporation of Americas acquisition of the containerboard business of Greif,Inc.for$1.8bn in cash will result in the pac