Third Quarter 2018 Highlights: •Increased net sales by $442 million, or 12%, and Segment EBITDA by $177 million, or 30%, compared to the prior year quarter. •Increased Corrugated Packaging Segment EBITDA by $111 million, or 30%, compared to the prior year quarter. The segment delivered a Segment EBITDA margin of 21.2% and a North American Adjusted Segment EBITDA margin of 23.0%, up 390 and 420 basis points, respectively, compared to the prior year quarter. •Increased Consumer Packaging segment net sales by $324 million, or 21%, and Segment EBITDA by $55 million, or 26%, compared to the prior year quarter.•Achieved the $1 billion synergy and performance improvements goal the company set at the inception of WestRock. Click Read More below for additional information.
Smurfit Kappa announces an agreement to purchase the company Litbag, in order to reinforce its position in Southern Europe.
Litbag has specific expertise in multi-layer EVOH barrier films which offer the advantage of extended product shelf life. Today it is one of the leaders in the Portuguese wine market exporting to several countries including Spain and France.
The acquisition of this dynamic company will enable Smurfit Kappa Bag-in-Box® to reinforce its position in Southern Europe and confirm its leadership in the wine sector.
“The Bag-in-Box® business continues to show significant potential for our Group. We are excited to develop our global footprint further and we see great opportunities for our Bag-in-Box® business on a world-wide scale in the years ahead,” said Roberto Villaquiran, CEO Smurfit Kappa Europe.
“Litbag is a dynamic company with a strong track record in innovation and market development. Product differentiators like their film performance and our VITOP tap technology will significantly strengthen our capabilities when they come together,” said Thierry Minaud, CEO of Smurfit Kappa Bag-in-Box®.
“We are excited to join forces with Litbag and strengthen our Iberian presence under the leadership of Pascual Martinez, General Manager for this region.”
more at: http://www.smurfitkappa.com/vHome/com/Newsroom/PressReleases/Pages/Smurfit-Kappa-expands-its-Bag-in-Box-business-in-Europe.aspx#sthash.GbUW24j4.dpuf