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MORE BOXES, LESS PROFIT: THE €136 MILLION WARNING IN 2026 CORRUGATED EARNINGS Volumes are growing — but profits are moving in completely different directions. Mondi increased box volumes by 2%, yet Corrugated Packaging EBITDA fell 47.9% — a €136 million loss versus H1 2025. Meanwhile, SCGP increased profit by 128%, Nine Dragons by 225.1%, and PCA delivered record corrugated shipments. We compared the latest results from Mondi, Smurfit Westrock, International Paper, PCA, Stora Enso, Billerud, SCGP, Nine Dragons and Sappi to answer the question that matters for corrugated producers in 2026: who is actually turning additional volume into profit — and who is not? Read the full analysis on corruga.expert →⁠�

THE WORLD’S TOP 20 CORRUGATED COUNTRIES IN 2026 China still dominates the global corrugated market, but the most interesting changes are happening below the top three. India has moved ahead of Germany in the latest comparable series, Poland has grown by about 52% since 2014, Spain has entered the global top ten, while several mature Western European markets are growing much more slowly. corruga.expert compared today’s Top 20 with the ranking from ten years ago to show which countries gained ground, which lost positions and where the global corrugated industry is shifting. The full analysis also looks at growth rates, plants, employment, market value and what these changes may mean for future investment. https://corruga.expert/news/the-world-s-top-20-corrugated-countries-in-2026/⁠�

WHERE WILL THE CORRUGATED INDUSTRY MEET NEXT? A conversation with Alessandro Bersanetti, President of Emmepi Group, about the company’s plans to attend exhibitions in Guatemala, Turkey and Brazil became the starting point for our new overview of the most important corrugated industry events still ahead in 2026. In the full article, we look at nine exhibitions, what corrugated board producers and boxmakers should pay attention to at each one, and which questions can help turn a trade-show visit into a better machinery, automation or production investment decision. 🔗 https://corruga.expert/news/where-will-the-corrugated-industry-meet-next/

INTERNATIONAL PAPER Q2 2026: BOX VOLUMES ARE RISING — BUT PROFIT HAS DISAPPEARED International Paper reports improving North American box volumes, but profitability is moving in the opposite direction: Q2 adjusted EBITDA fell to $587 million, while continuing operations posted a $12 million loss. North American packaging operating profit dropped to $204 million, down from $281 million in Q2 2024. Our analysis looks at why more boxes are not yet producing more profit, what the DS Smith integration means for IP, and what this tells corrugated producers about the wider market recovery. https://corruga.expert/news/international-paper-q2-2026-box-volumes-are-rising-but-profit-has-disappeared/⁠�

DUNAPACK BUYS THREE GREEK CORRUGATED PLANTS — €43 MILLION IN REVENUE, 250 EMPLOYEES AND 80M+ M² AT PATRAS ALONE Dunapack is expanding its Greek corrugated network with three production sites in Patras, Kapandriti and Thiva. Together with its existing Schimatari operation, the acquisition could create a significantly stronger production and logistics footprint across Greece. At the same time, Dunapack is investing in BOBST technology in Türkiye, combining acquisitions with plant modernisation. Our analysis looks at what this strategy could mean for independent converters, paper sourcing and competition across Southeast Europe. https://corruga.expert/news/dunapack-buys-three-greek-corrugated-plants-250-employees-e43m-revenue-and-80m-m-at-patras-alone/⁠�

SMURFIT WESTROCK H1 2026: $15.7 BILLION IN SALES — BUT NET PROFIT FALLS 58% The world’s largest paper-based packaging group increased first-half sales to $15.743 billion, while net income fell to $151 million. Smurfit Westrock also confirmed the closure of one UK paper mill and eight converting facilities in Europe and North America — nine sites in total. Our analysis explains why scale is not delivering stronger profit, which regions are performing best and what the closures mean for the global corrugated packaging market. https://corruga.expert/articles/smurfit-westrock-h1-2026-sales-rise-profit-falls-and-the-global-corrugated-market-feels-the-pressure/⁠�

SAICA BUYS 1.2 BILLION M² OF CORRUGATED CAPACITY Nine THIMM plants, around 2,500 employees and approximately €539 million in annual revenue are joining Saica’s network across Germany, Poland, the Czech Republic and Romania. The deal gives Saica an immediate position in Central and Eastern Europe and increases pressure on independent converters and other integrated groups. Our analysis explains why Saica is expanding during a weak market and what this acquisition could change for customers, equipment suppliers and the wider corrugated packaging industry. Read the full analysis: https://corruga.expert/news/saica-buys-1-2-billion-m-of-corrugated-capacity-and-a-ready-made-position-in-central-europe/⁠�

BOBST H1 2026: SERVICE, UPGRADES AND A NEW INVESTMENT LOGIC In H1 2026, BOBST’s Services & Performance division generated CHF 328.1 million in sales — more than Printing & Converting. This highlights the growing importance of service, upgrades, spare parts and the company’s global installed base. The market for new machinery remains cautious, but converters continue investing in productivity, automation, uptime and waste reduction. Our analysis explains what this shift means for corrugated producers planning their next CAPEX decision. Read the full article: https://corruga.expert/news/bobst-h1-2026-how-service-upgrades-and-installed-base-strength-are-redefining-the-corrugated-market/⁠�

LATAMCORR BRASIL 2026 ARRIVES AS BRAZIL’S CORRUGATED MARKET GAINS MOMENTUM LATAMCORR Brasil 2026 will take place on 12 November in Campinas, bringing together producers, suppliers and leading companies from Brazil’s corrugated board and paper packaging industry. The event comes as Brazil reports a record 29.4 million tonnes of pulp production, corrugated packaging shipments above 4.2 million tonnes, and sector revenue exceeding US$5.6 billion. Read our full market review, including the leading players, major investments and business opportunities shaping Brazil’s next packaging cycle: https://corruga.expert/news/latamcorr-brasil-2026-arrives-as-brazil-sets-a-pulp-record-and-its-corrugated-market-exceeds-us-5-6-billion/⁠�

CONGRATULATIONS, ANDREA SIMONETTI! corruga.expert congratulates Andrea Simonetti on his appointment as Emmepi Group’s Area Sales Director for Latin America, Spain and Portugal. His experience in finance, after-sales and international sales will support Emmepi’s growth and automation projects across these important markets. Read more: https://corruga.expert/news/emmepi-appoints-andrea-simonetti-to-lead-sales-in-latin-america-spain-and-portugal/⁠� #EmmepiGroup #AndreaSimonetti #CorrugatedPackaging #PackagingAutomation #LatinAmerica

SAICA SETS A 2.92 MILLION SQ FT SHIFT RECORD IN OHIO Saica Pack’s first-shift corrugator team in Hamilton produced 2.92 million square feet of corrugated board in a single shift — approximately 271,000 m². Congratulations to the entire team on this impressive achievement! The record comes as Saica accelerates its expansion in the United States: its Hamilton and Anderson plants will provide more than 2.7 billion square feet of combined annual capacity, while the company’s wider US investment strategy is valued at approximately $800 million. Read the full story: https://corruga.expert/news/saica-s-hamilton-record-shows-how-quickly-the-company-is-strengthening-its-position-in-the-us/⁠�

SMURFIT WESTROCK INVESTS US$197 MILLION IN BRAZIL Smurfit Westrock has invested approximately US$197 million (R$1 billion) in Brazil over the past two years, focusing on capacity expansion, automation, artificial intelligence and higher-value corrugated packaging. More than US$40 million is being directed to the Pirapetinga and Uberaba plants, where new printing and converting equipment is expected to increase combined capacity by around 18%. The full analysis examines why Brazil is attracting this investment, how it could affect market share and competition, and what it may mean for independent corrugated producers. https://corruga.expert/news/smurfit-westrock-s-us-197-million-brazil-investment-what-it-means-for-the-corrugated-board-market/⁠�

STORA ENSO GREW PROFIT BY 27% WITHOUT SALES GROWTH In Q2 2026, Stora Enso’s adjusted EBIT rose from €126 million to €160 million, while sales remained almost unchanged at €2.423 billion. The company also completed the sale of its corrugated board operations in Germany and continued ramping up the new consumer board line in Oulu. The key message for corrugated board producers: in a weak market, profitability increasingly depends on efficiency, lower waste, equipment utilisation, pricing discipline and smarter capital allocation. Read our full analysis: https://corruga.expert/news/stora-enso-q2-2026-27-profit-growth-flat-sales-and-a-warning-for-corrugated-board-producers/ #StoraEnso #CorrugatedBoard #CorrugatedPackaging #CorrugaExpert

FIRST CHROMACUT HIGH TECH IN ASIA: KOENIG & BAUER CELMACCH AT SAMBO IN SOUTH KOREA Koenig & Bauer Celmacch installed a ChromaCUT High Tech 2400 at Sambo Corrugated Board in South Korea — and this is not just another machinery announcement. Sambo is a serious corrugated producer with five processing plants, one paper mill, around 800 employees and major customers including Lotte, Coupang, CJ, OB and Hite. In the full article, we look at why this installation matters for money, ROI, automation, South Korea’s corrugated packaging market and where Chroma machines are already visible around the world. https://corruga.expert/news/first-chromacut-high-tech-in-asia-why-koenig-bauer-celmacch-s-sambo-installation-is-about-money-roi-and-the-future-of-corrugated-printing/ #KoenigBauerCelmacch #SamboCorrugatedBoard #ChromaCUT #CorrugatedPackaging

MONDI AND BÜROMODEL: CORRUGATED PACKAGING AGAINST WOODEN CRATES Mondi and Büromodel show how engineered corrugated packaging can protect large, fragile glass-and-frame office partition elements and replace wooden crates in export logistics. For converters, this case is a strong reminder that higher-value opportunities may be hidden where customers still use wood by habit — not because it is always the best solution. https://corruga.expert/news/wooden-crates-lost-this-round-how-engineered-corrugated-packaging-cut-packing-costs-by-20/ #CorrugatedPackaging #CorrugatedBoard #Mondi #Buromodel

20,000 PROFESSIONALS. NOT JUST FOLLOWERS. — Igor, corruga.expert just hit 20,000 followers on LinkedIn, — says Arnie, our editor-in-chief. — I think you should write something. Twenty thousand people who build one of the most vital and beautiful industries on earth every single day. Engineers, technologists, plant owners, managers, designers, equipment suppliers and paper makers — one global corrugated community. ... Thank you for being with us. We truly love and appreciate every member of our global corrugated community. Read the full story: https://corruga.expert/news/20-000-professionals-not-just-followers/ #CorrugatedIndustry #CorrugatedBoard #PackagingIndustry

BW PAPERSYSTEMS STRENGTHENS ITS BASE IN BRAZIL BW Papersystems has relocated its Brazil operations to a new facility at Polo 40 in Vargem Grande Paulista, São Paulo. At first glance, it looks like a simple move. But for corrugated board producers, it sends a stronger signal: local service, spare parts and technical response are becoming more important than ever. Brazil is one of South America’s key corrugated packaging markets. And BW Papersystems is moving closer to customers who need uptime, support and faster access to technical expertise. Read more on corruga.expert: https://corruga.expert/news/from-the-world-s-first-rotary-die-cutter-to-brazil-why-bw-papersystems-new-base-matters-for-corrugated-board-producers/ #BWPapersystems #corrugatedboard #corrugatedpackaging #Brazil #packagingmachinery

WHY TÜRKİYE HAS BECOME ONE OF DUNAPACK’S MOST IMPORTANT CORRUGATED PACKAGING PLATFORMS Dunapack Packaging is strengthening its corrugated packaging platform in Türkiye — a market where the company already reports around 500 million m² of production volume. The latest step is a new 2.8-metre BHS Corrugated line at the Eskişehir plant, increasing the site’s capacity to around 230 million m² per year. But the story is bigger than one machine. Dunapack’s Turkish network includes several sites and connects domestic demand with Europe, the Balkans, the Middle East, the Caucasus and other neighbouring markets. Read more on corruga.expert: https://corruga.expert/news/why-turkiye-has-become-one-of-dunapack-s-most-important-corrugated-packaging-platforms/ #DunapackPackaging #PrinzhornGroup #BHSCorrugated #corrugatedpackaging