A roundup of pallet and reusable packaging news items.
October 17, 2024 – IFCO, a global leader in reusable packaging solutions for fresh food, has successfully reduced its interest margin by 0.25% following the repricing of its €1.64 billion Term Loan B earlier this year. This strategic move enhances IFCO’s capacity to continue investing in future growth and expanding its market presence.
In February 2024, IFCO successfully refinanced the Term Loan B in an Amend and Extend transaction ahead of schedule. The volume increased to EUR 1,640 million and the Revolving Credit Facility to EUR 310 million. The Term Loan B received a term until 2029 and was equipped with an interest margin of 4.0 percent p.a. Following the recent repricing, the margin has now been reduced to 3.75%, reflecting the company’s strong performance and deleveraging capabilities. This reduction also demonstrates strong confidence from lenders in IFCO’s business model and future growth trajectory.
IFCO anticipates robust growth, meeting increased market demand for sustainable packaging solutions through customer acquisitions in Europe and North America, as well as organic expansion across Asia. Ongoing operating cost containment measures will further support IFCO’s sustainable growth strategy by delivering unrivalled value to its customers.
CPULD Advisory Meeting, RPA News and 6-String Pallet Guitars
Otober 3, 2024 – Wood pallets have been repurposed into a lot of different products, from vertical gardens to furniture to giant trolls, but guitars? Guitar World reported on an Instagram post by Argentinian luthier Sergio Pierachini., which subsequently went viral.
“Quite simply,” Guitar World reported, “it’s a wooden shipping pallet with some playable additions. A neck has been clamped onto the edge and a humbucker has been slotted below, transforming what might typically used for transporting pedals, amps and guitars into a piece of musical equipment itself. Some might say it can hold more than just a tune.”
CPULD Advisory Board Meeting
October 3, 2024 – It was an exciting day at the Center for Packaging and Unit Load Design annual advisory board meeting on October 1. We heard reports on current research and and participated in a brainstorming session led by Dr. Horvath about the impending expansion of Virginia Tech’s Packaging Systems and Design Program to broaden its educational scope. While Tech has long been associated with pallets, the program increasingly covers the packaging spectrum.
VT’s emphasis on sustainability and collaborative design makes it unique in packaging education. Silo mentality continues to plague supply chains and result in sub-optimal solutions, leading to higher costs and a heavier carbon footprint. There was substantial discussion of warehouse automation and pallet-related issues. As Dr. Marshall White pointed out, pallets are the interface between packaged products and material handling equipment, making it a focal point in bridging collaborative efforts. It was great to catch up with old industry colleagues and meet new folks.
In other news, Shuert Technologies, our original advertising sponsor, has joined the Reusable Packaging Associaton, which also announced the annual Excellence in Reusable Packaging Awards.
Rick LeBlanc, EMBA, is the founder and editor of Reusable Packaging News (subscribe to the free newsletter) and editor of Western Pallet Magazine. A supply chain journalist with more than 30 years of experience, he specializes in pallets, reusable packaging, material handling and related operations. Rick is co-author of Pallets: A North American Perspective and Pallets & Progress: A Collected History of Pallets and Palletized Handling 1922–1945. He is also an advisory board member of the Virginia Tech Center for Packaging and Unit Load Design. Read Rick’s full bio.
