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8 Oct 2021 12:57
Smurfit Kappa completes acquisition of a state-of-the-art 600,000 tonne containerboard mill in Northern Italy
-Providing additional security of supply for our customer base-
Smurfit Kappa Group plc (‘SKG’ or the ‘Group’) is pleased to announce that it has now completed the acquisition of Verzuolo for a purchase price of €360 million. Customary closing conditions have now been satisfied. The PM9 machine in Verzuolo was converted into a state-of-the-art 600,000 tonne recycled containerboard machine in 2019. It is highly complementary with SKG’s existing operations, strategically located close to the port of Savona and is expected to deliver significant benefits for both the Group and its customer base.
Smurfit Kappa Group CEO, Tony Smurfit, commented: ‘We are pleased to complete this acquisition ahead of schedule. Verzuolo brings a highly experienced and skilled team providing additional security of supply for SKG’s customers. As we continue to invest in our corrugated facilities, Verzuolo strengthens the Group’s integrated model and supports our sustainability ambitions.’
ENDS
Media contact:Nicki LabramSmurfit KappaT: +353 87 164 4672E: nicki.labram@smurfitkappa.com
About Smurfit Kappa
Smurfit Kappa, a FTSE 100 company, is one of the leading providers of paper-based packaging solutions in the world, with approximately 46,000 employees in over 350 production sites across 36 countries and with revenue of €8.5 billion in 2020. We are located in 23 countries in Europe, and 13 in the Americas. We are the only large-scale pan-regional player in Latin America. Our products, which are 100% renewable and produced sustainably, improve the environmental footprint of our customers.
With our proactive team, we relentlessly use our extensive experience and expertise, supported by our scale, to open up opportunities for our customers. We collaborate with forward-thinking customers by sharing superior product knowledge, market understanding and insights in packaging trends to ensure business success in their markets. We have an unrivalled portfolio of paper-based packaging solutions, which is constantly updated with our market-leading innovations. This is enhanced through the benefits of our integration, with optimal paper design, logistics, timeliness of service, and our packaging plants sourcing most of their raw materials from our own paper mills.
We have a proud tradition supporting social, environmental and community initiatives in the countries where we operate. Through these projects we support the UN Sustainable Development Goals, focusing on where we believe we have the greatest impact.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20211008005238/en/
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