Net income for the first six months of 2021 was $167.8 million as compared to net income of $135.8 million for the first six months of 2020. Net sales for the first six months of 2021 increased $380.0 million, or 17.2 percent, to $2.59 billion as compared to $2.21 billion for the first six months of 2020. This increase was primarily a result of higher unit volumes in each of the Dispensing and Specialty Closures and Metal Container segments, the pass through of higher raw material costs, the impact of favorable foreign currency translation and a more favorable mix of products sold in the Dispensing and Specialty Closures and Custom Container segments, partially offset by lower volumes in the Custom Container segment and a higher percentage of smaller cans sold in the Metal Container segment.
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 m2, 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.