Smurfit Kappa Group Completes Merger-Related Asset Disposal
Oct. 4, 2006 - Smurfit Kappa Group today announced the completion of the disposal of the eight facilities as required under the European Union (EU) approval of the merger of the operations of Jefferson Smurfit Group (JSG) with Kappa Packaging (Kappa).
The eight facilities comprise:
- 2 graphic board mills in Holland
- 1 solid board mill and converting operation in Holland
- 2 corrugated facilities in Sweden
- 2 corrugated facilities in Denmark
- 1 partition facility in Scotland
Total consideration, for the eight facilities, was approximately EUR 40 million. Net proceeds arising from these disposals will be applied to debt reduction.
Smurfit Kappa Group is a world leader in corrugated, a European leader in containerboard and also has market leading positions, in both paper grades, in Latin America. The Group currently employs a workforce of approximately 42,000 people. The Group's operations span 23 European and 9 Latin American countries, with capacity which includes approximately 5.9 million tonnes of containerboard and approximately 5.5 million tonnes of corrugated.
SOURCE: Smurfit Kappa Group