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 m2, 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.
https://www.smurfitkappa.com/newsroom/2022/smurfit-kappa-invests-over-35-million-euro-in-first-moroccan-plant

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Smurfit Kappa Full Year 2020 Results

Key Points *EBITDA of €1,510 million with an EBITDA margin of 17.7% *Strong Free Cash Flow of €675 million *ROCE of 14.6% *Increased sustainability targets including net zero CO2 emissions by 2050 *Successful capital raise of €660 million to pursue attractive growth opportunities *Final dividend increased by 8% to 87.4 cent per share
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