Smurfit Kappa Completed Acquisition of Containerboard Mill in Northern Italy

SEATTLE (Scrap Monster): Smurfit Kappa plc announced that it has completed acquisition of a state-of-the-art recycled containerboard mill in Northern Italy. The acquired Verzuolo mill, with a capacity of 600,000 tonne per annum, was bought for a purchase price of €360 million.

The purchased assets are complementary with the company’s existing operations. It is strategically located close to the port of Savona. The acquisition of the mill is expected to deliver significant benefits to the company as well as its customer base, expanding its service to both the Southern European region and other markets as well. It must be noted that the paper machine PM9 in Verzuolo was converted into recycled containerboard machine in 2019.

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Commenting on the important milestone, Tony Smurfit, CEO, Smurfit Kappa said that the company is pleased to complete the acquisition well ahead of schedule. It brings a highly experienced and skilled team, which will provide additional security of supply for Smurfit Kappa’s customers. Verzuolo will strengthen the Group’s integrated model by supporting its sustainability ambitions, he added.

The acquisition is highly complementary to the significant investments that Smurfit Kappa has been making in corrugated facilities.