Industry Report Card: Global Packaging Companies Struggle With Raw Material Pressures Jul 08
Standard & Poors, July 2008
Abstract
Standard & Poor's Ratings Services expects credit quality in the global packaging sector to remain under pressure for the remainder of 2008, particularly for those companies lacking meaningful geographic diversity. While packaging demand is considered recession resistant, recent earnings trends show lower volumes in rigid and flexible plastic packaging for dairy, beverages, and foods. Consumers in the U.S. pulled back on spending at grocery and convenience stores in light of high gas prices, rising prices of dairy, meat, and other food items, and subprime mortgage woes. About 35% of U.S. packaging companies have a well-diversified global geographic footprint, and the metal and glass packaging companies, in particular, benefit from strong demand growth in Eastern Europe, Asia, and Latin America that...
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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Avery Dennison Corp.
- Bemis Co. Inc.
- Owens-Illinois Inc.
- Crown Holdings Inc.
- Viskase Cos. Inc.
- Sonoco Products Co.
- Silgan Holdings Inc.
- Sealed Air Corp.
- Amcor Ltd.
- Rexam PLC
- Portola Packaging Inc.
- BWAY Corp.
- Impress Holdings B.V.
- Pliant Corp.
- AEP Industries Inc.
- Graham Packaging Holdings Co.
- Ball Corp.
- Consolidated Container Co. LLC
- Pactiv Corp.
- IFCO Systems N.V.
- Solo Cup Co.
- Plastipak Holdings Inc.
- Kleopatra Lux 1 S.a.r.l
- Constar International Inc.
- Clondalkin Industries B.V.
- Intertape Polymer Group Inc.
- Ardagh Packaging Group Ltd.
- Gerresheimer AG
- Pregis Corp.
- Yioula Glassworks S.A.
- Exopack Holding Corp.
- Multi Packaging Solutions Inc.
- Fort Dearborn Co.
- Treofan Holdings GmbH
- Berry Plastics Corp.
- Berry Plastics Group Inc.
- SIG Combibloc Group AG
- Tegrant Corp.
- LabelCorp Holdings Inc.
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