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    SK3   IE00B1RR8406

SMURFIT KAPPA GROUP PLC

(SK3)
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Smurfit Kappa : completes acquisition of a state-of-the-art 600,000 tonne containerboard mill in Northern Italy

10/08/2021 | 08:12am EST

Smurfit Kappa Group plc ('SKG' or the 'Group') is pleased to announce that it has now completed the acquisition of Verzuolo for a purchase price of €360 million. Customary closing conditions have now been satisfied. The PM9 machine in Verzuolo was converted into a state-of-the-art 600,000 tonne recycled containerboard machine in 2019. It is highly complementary with SKG's existing operations, strategically located close to the port of Savona and is expected to deliver significant benefits for both the Group and its customer base.
Smurfit Kappa Group CEO, Tony Smurfit, commented: 'We are pleased to complete this acquisition ahead of schedule. Verzuolo brings a highly experienced and skilled team providing additional security of supply for SKG's customers. As we continue to invest in our corrugated facilities, Verzuolo strengthens the Group's integrated model and supports our sustainability ambitions.'

Disclaimer

Smurfit Kappa Group plc published this content on 08 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 October 2021 12:11:04 UTC.


ę Publicnow 2021
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Sales 2021 9 835 M 11 097 M 11 097 M
Net income 2021 676 M 763 M 763 M
Net Debt 2021 2 766 M 3 121 M 3 121 M
P/E ratio 2021 17,3x
Yield 2021 2,66%
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Mean consensus BUY
Number of Analysts 9
Last Close Price 45,94 €
Average target price 56,89 €
Spread / Average Target 23,8%
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Managers and Directors
Anthony Paul James Smurfit Group Chief Executive Officer & Executive Director
Kenneth Bowles Group Chief Financial Officer & Executive Director
Irial Finan Chairman
Arco Berkenbosch Vice President-Marketing, Research & Development
Richard Schouten Group Vice President-Information Systems
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