SMURFIT KAPPA: Statement re investment of over 35 million euro in first Moroccan plant

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Smurfit Kappa invests over 35 million euro in first Moroccan plant

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 m(2) , 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.

ENDS

About Smurfit Kappa

Smurfit Kappa, a FTSE 100 company, is one of the leading providers of paper-based packaging solutions in the world, with approximately 48,000 employees in over 350 production sites across 36 countries and with revenue of EUR10.1 billion in 2021. We are located in 23 countries in Europe, and 13 in the Americas. We are the only large-scale pan-regional player in Latin America. Our products, which are renewable, recyclable and biodegradable, are produced sustainably and improve the environmental footprint of our customers.

With our proactive team, we relentlessly use our extensive experience and expertise, supported by our scale, to open up opportunities for our customers. We collaborate with forward-thinking customers by sharing superior product knowledge, market understanding and insights in packaging trends to ensure business success in their markets. We have an unrivalled portfolio of paper-based packaging solutions, which is constantly updated with our market-leading innovations. This is enhanced through the benefits of our integration, with optimal paper design, logistics, timeliness of service, and our packaging plants sourcing most of their raw materials from our own paper mills.

We have a proud tradition of supporting social, environmental and community initiatives in the countries where we operate. Through these projects we support the UN Sustainable Development Goals, focusing on where we believe we have the greatest impact.

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smurfitkappa.com

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May 25, 2022 02:00 ET (06:00 GMT)