4 INDUSTRY NEWS


Smurfit Kappa Group to transfer listing to London


I


n a move aimed at increasing its profile and attractiveness to international investors,


Smurfit Kappa Group is proposing to change its share listing from the Irish Stock Exchange (ISE) to the United Kingdom Listing Authority (UKLA) in London. One of the world’s largest


paper-based packaging manufacturers, Smurfit Kappa has had a primary listing on the official List of the ISE and a secondary listing on the standard listing segment of the official list of the UKLA since its IPO in March 2007. The proposal follows the


review of Smurfit Kappa’s listing arrangements referred to when it published its preliminary results in February and the switching of trading in the ordinary shares on the London Stock Exchange from


euro to sterling which took effect from March. It requires the transfer of its


ordinary share listing on the official list of the UKLA from standard to premium and in parallel the transfer of the listing category of its shares on the official list of the ISE from primary to secondary. No approval from shareholders


was required and it was expected that the transfer would take place on 25 April. The Smurfit Kappa Group


operates in 21 countries in Europe and is the European leader in corrugated packaging, containerboard, solidboard and solidboard packaging with key positions in several other packaging and paper market segments.


It also has two bag-in-box


facilities, located in Canada and Argentina which are managed as


part of the European operations. The Group also operates in 13 countries in the Americas and is the largest pan-regional producer of containerboard and corrugated containers in Latin America. In 2015 the Group’s Europe and Americas segments accounted for approximately 77.1 per cent and 22.9 per cent of revenue respectively. In a statement Smurfit Kappa


said: “The proposed changes to the company’s listing categories in the UK and Ireland are being made so as to assist in increasing the profile of the company, providing it with exposure, and increasing its attractiveness, to a wider potential investor base and enhancing the liquidity of its shares.”


Smurfit Kappa group sales in 2015 were €8.1 billion, fractionally up on a year earlier with gross profit (EBITDA) of


Speciality chemical supplier Solenis makes acquisitions


Solenis, a US-based global producer of speciality chemicals, is to acquire Lostris International BV and Wester Blend BV, two privately- owned suppliers of speciality chemicals to the pulp and tissue and towel markets. Based at Wilmington,


Delaware, Solenis is a leading supplier to the pulp, paper, oil and gas, chemical processing, mining, biorefining, power and municipal markets. The terms


May/June 2016


of the deal were not revealed. “Lostris’ and Wester Blend’s


capabilities complement the current Solenis offerings in the global pulp, and tissue and towel markets,” said John Panichella, chief executive of Solenis.


“In addition to a strong channel-to-market, Lostris produces unique defoamer formulations, pitch dispersants, and scale control chemistries for the pulp market. It also


provides complementary crepe and release products that will further bolster our tissue and towel product range.” Charles Robinson, senior vice president at Solenis, added: “This is another excellent example of Solenis’ commitment to invest in the pulp and paper industry.” President of Lostris


International and Wester Blend Eelco van ’t Hoog said: “We are delighted to work together


1.18bn euros, up 2 percent. Recent investments include a €114m rebuild of a line at Townsend Hook in the UK in 2015. This year’s investments include the €40m PM1 upgrade at Roermond in the Netherlands and the €27m line conversion at Sanguesa in Spain. Smurfit Kappa is one of the


leading providers of paper-based packaging solutions in the world, with around 45,000 employees in approximately 370 production sites across 34 countries ● Smurfit Kappa UK has been


awarded a prestigious Nestlé UK and Ireland 2016 Supplier Award in the category of Outstanding Service at the recent Nestlé Supplier Awards 2016. Nestlé held its UK Supplier Awards event at The Queens Hotel in Leeds, attended by more than 300 suppliers and key Nestlé personnel.


with the leading supplier of specialty chemicals to the pulp and paper industry to ensure a smooth transition for our customers. “By joining together in a


shared commitment to solve problems for our customers the collective strengths of the companies will generate enormous opportunities for exciting new products and growth.”


Solenis has 30 manufacturing


facilities located worldwide with 3,500 employees in 118 countries across five continents.


Pulp Paper & Logistics


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