Smurfit Kappa GrpPLC Statement re Venezuela

 
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Smurfit Kappa

SKG.ISKG.L

Dublin, London | 2 December 2013: Smurfit Kappa Group plc ('SKG' or the 'Group') confirms that officials from the Venezuelan government have announced a temporary intervention at the Group's subsidiary Smurfit Kappa Carton de Venezuela ('SKCV'). This is part of a nationwide programme of inspections and audits at both locally and internationally owned companies, conducted by a number of government Ministries and agencies. The intervention allows for further inspections and audits covering areas such as tax, costs, pricing and employment practices. SKCV retains management of the company and is co-operating fully with the government officials. SKCV is committed to operating its business to ensure the on-going supply of products and services to its customers.

About Smurfit Kappa

Smurfit Kappa is one of the leading producers of paper-based packaging in the world, with around 41,000 employees in approximately 350 production sites across 32 countries and with sales revenue of EUR7.3 billion in 2012.

Innovation, service and pro-activity towards customers, using sustainable resources, is our primary focus. This focus is enhanced through us being an integrated producer, with our packaging plants sourcing the major part of their raw materials from our own paper mills. We are the European leader in paper-based packaging, operating in 21 countries selling products including corrugated, containerboard, bag-in-box, solidboard and solidboard packaging. We have a growing base in Eastern Europe in many of these product areas. We also have a key position in other product/market segments including graphicboard, MG paper and sack paper.

We are the only large scale pan regional player in the Americas, operating in 11 countries in total in North, Central and South America.

Forward Looking Statements

Some statements in this announcement are forward-looking. They represent expectations for the Group's business, and involve risks and uncertainties. These forward-looking statements are based on current expectations and projections about future events. The Group believes that current expectations and assumptions with respect to these forward-looking statements are reasonable. However, because they involve known and unknown risks, uncertainties and other factors, which are in some cases beyond the Group's control, actual results or performance may differ materially from those expressed or implied by such forward-looking statements.

ENDS

 
Contacts 
Seamus Murphy                    FTI Consulting 
Smurfit Kappa Group 
 
Tel: +353 1 202 71 80            Tel: +353 1 663 36 86 
E-mail: ir@smurfitkappa.com      E-mail: smurfitkappa@fticonsulting.com 
 
 
 
 
This information is provided by Business Wire

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