Net sales of $1.3 billion increased 8% as reported. Currency contributed $25 million, or approximately 2%, to net sales as compared to first quarter 2020. Net earnings in first quarter 2021 were $106 million, or $0.68 per diluted share, as compared to net earnings of $115 million, or $0.74 per diluted share, in first quarter 2020. The effective tax rate in first quarter 2021 was 34.0%, as compared to 22.2% in first quarter 2020. The current year effective tax rate was unfavorably impacted by legislative and administrative changes to enacted foreign statutes.
Smurfit Kappa, one of the leading providers of paper-based packaging solutions in the world, has announced an investment of over USD33 million in Brazil to expand the capacity of its plant in Fortaleza to meet the growing demand for innovative and sustainable packaging.
The expansion, which includes the installation of a new corrugator, will significantly extend the plant’s Shelf Ready Packaging capability for FMCG customers in a range of sectors including fresh fruit, home appliances and pharmaceuticals.
Several high-end printers will also be installed to provide the high level of precision and quality that is required for eCommerce packaging. In addition, a new innovation centre will foster even more customer collaboration and enhance the development of impactful, sustainable and market-leading packaging solutions.
“Today’s announcement will ensure Smurfit Kappa can support our customers to gain even more share in their markets. The combination of an innovation centre and state-of-the-art technology will provide greater opportunities to collaborate with customers to deliver innovative, inspiring and sustainable solutions,” commented Manuel Alcalá, CEO of Smurfit Kappa Brazil.
more at: https://www.smurfitkappa.com/newsroom/2022/smurfit-kappa-announces-usd33-million-investment-in-brazil