SMURFIT KAPPA: Statement re investment of over 35 million euro in first Moroccan plant
May 25 2022 - 1:00AM
UK Regulatory
TIDMSKG TIDMSK3
Smurfit Kappa invests over 35 million euro in first Moroccan
plant
Smurfit Kappa, one of the world's largest paper-based packaging
companies, has announced the construction of a new packaging plant
in Morocco, its first corrugated plant in the country. Located in
Rabat and covering an area of 25,000 m(2) , it will enable Smurfit
Kappa to supply innovative and sustainable packaging solutions
quickly and efficiently to its local customer base.
Construction of the state-of-the-art new plant began this week
when the first stone of the foundations was laid at an official
ceremony.
The plant will create packaging for sectors including
industrial, agriculture, FMCG, automotive, pharma and ceramics and
serve both local customers and multinationals based in Morocco. In
a market where the demand for corrugated packaging currently
exceeds supply, the new plant will play an important and strategic
role.
Saverio Mayer, CEO of Smurfit Kappa Europe, said: "We are very
proud to announce the construction of this advanced new facility,
the first of its kind owned by the company in Morocco. It will be
located in an area with significant growth potential and create 300
direct and indirect jobs in the region.
"Our customers will also benefit from our fully integrated and
circular business model which will ensure a reliable supply of
quality, value-adding and sustainable products."
Ignacio Sevillano, CEO of Smurfit Kappa Spain, Portugal and
Morocco, added: "We are delighted that the first stone has been
laid -- an important milestone for the project. This investment is
a reflection of our 'think global, act local' approach which
combines our global scale and expertise with our local team's
best-in-class knowledge to understand and satisfy our Moroccan
customers' needs.
"The new plant will also incorporate an Experience Centre, our
30th worldwide, which will foster enhanced collaboration with our
customers and provide creative ideas and insights."
Edwin Goffard, COO of Corrugated & Converting, Smurfit Kappa
Europe, said: "This new plant is being built at the right time and
in the right place. High demand for corrugated is ongoing and
customers want to know that their products are being transported
and presented in the most efficient and sustainable way. We use the
huge wealth of data gained from working with over 65,000 customers
worldwide to identify the best solution for the task at hand."
The new facility is expected to be operational in early
2023.
ENDS
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 48,000 employees in over 350 production sites across
36 countries and with revenue of EUR10.1 billion in 2021. 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 renewable, recyclable and biodegradable, are
produced sustainably and 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 of 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.
Follow us on LinkedIn, Twitter. Facebook, YouTube.
smurfitkappa.com
View source version on businesswire.com:
https://www.businesswire.com/news/home/20220524005981/en/
CONTACT:
Smurfit Kappa Group PLC
SOURCE: Smurfit Kappa Group PLC
Copyright Business Wire 2022
(END) Dow Jones Newswires
May 25, 2022 02:00 ET (06:00 GMT)
Smurfit Kappa (LSE:SKG)
Historical Stock Chart
From Apr 2024 to May 2024
Smurfit Kappa (LSE:SKG)
Historical Stock Chart
From May 2023 to May 2024