Berry Plastics Group, Inc. (BERY - Free Report) announced that Thomas E. (Tom) Salmon has been elected as President and Chief Operating Officer (COO) effective Oct 3, 2016. The appointment is the next step in the company’s ongoing succession process.
Salmon currently serves as President of Berry Plastics’ Consumer Packaging Division and will continue in the role concurrently along with his new duties until his successor is appointed. As the new COO, Salmon will be responsible for the company’s operating businesses, operations, supply chain and procurement.
Berry Plastics also announced that its Chairman and Chief Executive Officer (CEO), Jonathan D. (Jon) Rich, has informed the board of his plans to retire, effective Feb 2017. Upon his retirement, Rich will continue to serve as Executive Chairman of the board.
In Aug 2016, Berry Plastics decided to acquire leading plastic packaging films manufacturer, AEP Industries Inc., for $765 million (including debt). The transaction is expected to be completed in the fourth quarter of 2016, pursuant to the approval of AEP shareholders and customary closing conditions, including regulatory approvals.
Berry Plastics continues to be optimistic about healthcare, pharmaceuticals, personal care and food packaging growth opportunities outside North America, especially in Asia and Latin America. Moreover, the company will continue to take the necessary proactive steps to remain competitive and lead the markets where it operates.
Berry Plastics currently sports a Zacks Rank #1 (Strong Buy). Other stocks worth considering in the sector include Packaging Corporation of America (PKG - Free Report) , UFP Technologies, Inc. (UFPT - Free Report) and AO Smith Corp. (AOS - Free Report) .
Packaging Corporation of America has seen upward estimate revisions of around 3% over the past 90 days. The stock sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
UFP Technologies, also sporting a Zacks Rank #1 stock, has witnessed solid estimate revisions of roughly 33% over the past 30 days.
AO Smith, which carries a Zacks Rank #2 (Buy), has seen upward estimate revisions of 1% over the last 30 days.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Berry Plastics Group, Inc. (BERY - Free Report) announced that Thomas E. (Tom) Salmon has been elected as President and Chief Operating Officer (COO) effective Oct 3, 2016. The appointment is the next step in the company’s ongoing succession process.
Salmon currently serves as President of Berry Plastics’ Consumer Packaging Division and will continue in the role concurrently along with his new duties until his successor is appointed. As the new COO, Salmon will be responsible for the company’s operating businesses, operations, supply chain and procurement.
Berry Plastics also announced that its Chairman and Chief Executive Officer (CEO), Jonathan D. (Jon) Rich, has informed the board of his plans to retire, effective Feb 2017. Upon his retirement, Rich will continue to serve as Executive Chairman of the board.
In Aug 2016, Berry Plastics decided to acquire leading plastic packaging films manufacturer, AEP Industries Inc., for $765 million (including debt). The transaction is expected to be completed in the fourth quarter of 2016, pursuant to the approval of AEP shareholders and customary closing conditions, including regulatory approvals.
Berry Plastics continues to be optimistic about healthcare, pharmaceuticals, personal care and food packaging growth opportunities outside North America, especially in Asia and Latin America. Moreover, the company will continue to take the necessary proactive steps to remain competitive and lead the markets where it operates.
Berry Plastics currently sports a Zacks Rank #1 (Strong Buy). Other stocks worth considering in the sector include Packaging Corporation of America (PKG - Free Report) , UFP Technologies, Inc. (UFPT - Free Report) and AO Smith Corp. (AOS - Free Report) .
Packaging Corporation of America has seen upward estimate revisions of around 3% over the past 90 days. The stock sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
UFP Technologies, also sporting a Zacks Rank #1 stock, has witnessed solid estimate revisions of roughly 33% over the past 30 days.
AO Smith, which carries a Zacks Rank #2 (Buy), has seen upward estimate revisions of 1% over the last 30 days.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on AOS - FREE
Get the latest research report on PKG - FREE
Get the latest research report on BERY - FREE
Get the latest research report on UFPT - FREE