Evansville-based Berry Global Group Inc. (NYSE: BERY) is reporting fiscal second quarter net income of $90 million, up from $72 million during the same period last year. Chief Executive Officer Tom Salmon says the company also hit a quarterly record for net sales, which topped $2 billion.
Salmon adds its $474 million acquisition of Ohio-based Clopay Plastic Products Co., which was completed in February, will create greater benefits for Berry than originally expected.
"We believe the addition of Clopay provides an enhanced product offering that reduces cost and provides improved performance in our global hygiene films offerings. Based on our progress to-date, we are increasing our annual cost synergy target to $40 million from our original guidance of $20 million when we announced the deal."
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