Net sales for the third quarter of 2018 were $1.31 billion, an increase of $40.1 million, or 3.2 percent, as compared to $1.27 billion in 2017. This increase was the result of higher net sales across all of our businesses. Income before interest and income taxes for the third quarter of 2018 was $138.5 million as compared to $138.6 million for the third quarter of 2017, as higher segment income in the closures and plastic container businesses was offset by lower segment income in the metal container business. Margin decreased to 10.6 percent in the third quarter of 2018 from 10.9 percent in the third quarter of 2017 largely due to the mathematical impact on margin of higher sales as a result of the contractual pass through of significantly higher raw material costs. Click read more below for additional detail.
Smurfit Kappa Group has significantly strengthened its presence in Western France with the acquisition of two Europac sites in Brittany.
The packaging leader has acquired the Caradec Box Plant in the Morbihan County and the Saint Pol de Léon site in the Finistére County, reinforcing its capabilities in the fruit and vegetable sector.
Smurfit Kappa has a strong track record in producing innovative and sustainable packaging solutions for the agriculture sector so the Caradec Box Plant is a natural fit with the company.
Smurfit Kappa will now have a stronger link to the Brittany food markets and welcomes 200 employees to its worldwide community of employees.
Speaking about the new acquisition, Smurfit Kappa COO of Corrugated Europe, Edwin Goffard, said: “This latest acquisition is part of our integrated strategy and supports our continued drive to open up new opportunities.”
Jean-Christophe Bugeon, CEO of Smurfit Kappa France added: “We are delighted to welcome the Caradec employees into our company. More and more retailers and growers are seeking more sustainable packaging alternatives for fresh produce and we can add an even wider choice of premium solutions to our offering.”
Smurfit Kappa has got proven experience and expertise in providing packaging for fresh produce.