With sustainability firmly at the forefront of today’s packaging supply chain, Flint Group Packaging Inks, one of the largest consumables suppliers to the global print and packaging industry, has detailed its vision for supporting circular economies in a new white paper that reveals the formation of a dedicated Sustainability Task Force. The paper outlines the environmental challenges faced by the industry past, present and future, and examines how Flint Group Packaging Inks, through the actions of its task force, can provide sustainable solutions, insight and collaboration for its key stakeholders. According to the company, there are four core areas of activity where Flint Group Packaging Inks is supporting the supply chain to become more circular, while at the same time adding value. These include addressing sustainability concerns on a broad scale, supporting converter operations, solving recycling complexities and delivering greater industry networking and partnership to drive change and innovation.
Smurfit Kappa Group plc (“SKG” or the “Group”) agrees to acquire Verzuolo, a containerboard business in Northern Italy, for a cash consideration of €360 million. The Verzuolo mill owned by the Burgo Group, is situated close to the port of Savona in the northwest of Italy. The PM9 machine was newly constructed in 2002 and converted into a 600,000 tonne capacity recycled containerboard machine in 2019.
Verzuolo is highly complementary to SKG’s existing business and is strategically positioned to serve both the Southern European region and other markets ensuring we continue to provide the best service to our corrugated customers. The acquisition will deliver significant synergistic benefits including technical and production optimisation, and increased containerboard integration within the Group.
The cash consideration will be funded from the Group’s existing resources. It is expected that the acquisition will complete during the fourth quarter, subject to customary closing conditions including regulatory approval.
SKG has agreed to acquire a state of the art, strategically located recycled containerboard facility
World-class recycled containerboard mill with 600,000 tonne capacity
Provides additional security of supply for SKG’s customer base
Immediately earnings accretive
Strengthens Smurfit Kappa’s integrated operating model
Optimally located for SKG’s Southern European corrugated facilities
Smurfit Kappa Group CEO, Tony Smurfit, commented: ‘We welcome the highly experienced Verzuolo team to the Smurfit Kappa Group as we continue to strengthen the world’s leading paper-based packaging group. Consistent with our multi-stakeholder approach, we believe that this acquisition represents another positive step for the Group, our customers and all shareholders. SKG has a proven ability to identify, acquire, integrate and optimise complementary businesses. This acquisition also reflects the inherent agility of our approach to deploying capital rapidly and effectively.’
Smurfit Kappa Europe CEO, Saverio Mayer, concluded: ‘SK Europe is delighted to announce our agreement to acquire Verzuolo. It is a business that we had identified and have admired for some time. The acquisition demonstrates our commitment to this important market for the Group and provides additional security of supply for our customer base. It strengthens the Group’s unique integrated operating model and is highly complementary to the significant investments we are making in our corrugated facilities.’