Smurfit Kappa said today that it has completed a more than €20m investment in its manufacturing plants in Olomouc in the Czech Republic and Obaly Štúrovo in Slovakia.

The company said the investments further highlight its expansion and commitment to investing in its Central and Eastern European operations.

The company said the two plants received significant upgrades, installing new equipment to expand capacity and address the rise in customer demand for paper-based packaging solutions.

It said the investment sees the installation of new converting equipment which will increase the capacity by over 100 million regular and offset printed boxes a year.

It will also alllow the business to further target specific industries, most notably the fast-moving consumer goods (FMCG) and electro-technical sectors.

Zdenek Suchitra, CEO of Smurfit Central & South-East Europe, said the two investments were finished on time and within their original budget in a time when there is a scarcity of all kinds of materials.

"These investments, along with the investments we made in two additional sites in the Czech Republic, demonstrate our commitment to our customers and operations in Central and Eastern Europe," he added.