Smurfit Kappa announces closure of 130,000 tonnes of capacity 27/03/2008 - 07:04:52
Packaging firm Smurfit Kappa Group plc (SKG) has today announced that it is to permanently close 130,000 tonnes of less efficient containerboard capacity.
The company, which has a base in Beech Hill, Clonskeagh, will also reduce 2008 production by up to 80,000 tonnes through market-related downtime.
SKG intends to permanently close its Valladolid recycled containerboard mill in Northern Spain in the second quarter of 2008.
The Valladolid mill has an annual capacity of 130,000 tonnes. The closure will have the effect of reducing recycled capacity by 70,000 tonnes in 2008.
In addition, SKG will take up to 80,000 tonnes of market-related downtime (the majority of which will be taken during March/April 2008).
Further details of both the cash costs and impairment charges will be provided in SKG’s 2008 first quarter results scheduled for release on May 9, 2008.
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