Graphic Packaging is spending $1 billion to double down on its bet that paper will replace plastic
Bales of recycled cardboard are turned into paperboard at a Graphic Packaging facility in Kalamazoo, Mich.Graphic Packaging Holding Co. said it will spend $1 billion to build a new plant to turn old cardboard into new boxboard, doubling down on its bet that the concerns about plastic waste have created opportunities for paper packaging.
The paperboard mill in Waco, Texas, will follow the opening early last year of a similar plant in Kalamazoo, Mich., which was the first new line to be built in the U.S. in decades. Construction is expected to begin later this quarter and startup is slated for late 2025.
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