Brazil’s Suzano Papel e Celulose SA (SUZB3.SA) will pay Fibria Celulose SA’s (FIBR3.SA) shareholders 52.50 reais ($15.92) per share in a merger that will create the world’s largest pulp maker, the companies said in statements on Friday.
Additionally, Fibria’s shareholders will receive 0.4611 shares of Suzano for every share they hold in Fibria.
https://www.reuters.com/article/us-fibria-m-a-suzano-papel/brazils-suzano-will-pay-52-50-reais-per-share-of-fibria-in-merger-statement-idUSKCN1GS1JH
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Smurfit Westrock has once again been included on the Forbes Global 2000 list of the world’s most successful public companies.
The prestigious ranking measures global impact and financial strength and is determined by criteria including sales, assets and market value.
The 2000 companies on this year’s Forbes Global 2000 list account for $56 trillion in annual revenue, $5.5 trillion in profit and $121.9 trillion in market value.
Smurfit Westrock was also recognized this week as one of TIME magazine’s World’s Most Sustainable Companies.
Smurfit Westrock operates in 40 countries worldwide and has approximately 97,000 employees.
The Management Board of Arctic Paper has of February 22 and adopted a long-term financial target of EBIT 10 percent. The Management Board has also adopted a new strategy for its paper business – A Future in Paper - Strategic Agenda 2022 – showing the way to a growing and more profitable business.
“Our mission is to offer a variety of superior, reliable and eco-friendly paper products and services which turn highly creative ideas into distinctive experiences and cater for the latest printing technologies. The new strategy is built on the ambition to reach a sustainably higher profitability, with a set target of EBIT 10 percent at the latest 2022”, comments Per Skoglund, CEO of Arctic Paper.
Smurfit Westrock is closing a facility in Cedar Rapids, Iowa, according to a Worker Adjustment and Retraining Notification filed with the state this week.
The site produces “corrugated packaging such as standard cases, boxes and trays suitable for all industries,” Smurfit Westrock said on its website. Production will move to other facilities in Smurfit Westrock’s network, according to Robby Johnson, director of external communications for North America.
The shutdown will affect 100 employees, the company reported. Layoffs are slated for Oct. 4, according to the notice, and closing activities will be complete by mid-October. Outplacement assistance will be available for impacted employees and eligible employees may apply for open positions within the company, Johnson said.
Smurfit Westrock recently celebrated its one-year anniversary following the combination of Smurfit Kappa and WestRock. On a second-quarter earnings call last week, CEO Tony Smurfit said the company would “continue to optimize our system through the elimination of non-strategic or inefficient assets,” as it targets eliminating 600,000 tons of capacity.