Paper and packaging company Smurfit Kappa has completed the acquisition of Verzuolo, a 600,000 tonne containerboard mill in Northern Italy for €360 million.
It said the PM9 machine in Verzuolo was converted into a state-of-the-art recycled containerboard machine in 2019.
According to Smurfit Kappa it is "highly complementary" with it’s existing operations and is strategically located close to the port of Savona.
"We are pleased to complete this acquisition ahead of schedule," said Tony Smurfit, Smurfit Kappa Group CEO.
"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," he added.
