International Paper (NYSE: IP) today announced that it completed the previously disclosed sale of its Brazilian corrugated packaging business to Klabin S.A. The business has three containerboard mills and four box plants. The company will continue to run its papers business and forestry operations in Brazil.
https://internationalpaper2015.q4web.com/news-releases/press-r/2020/International-Paper-Completes-the-Sale-of-Its-Brazilian-Corrugated-Packaging-Business/default.aspx
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The expansion makes the plant Smurfit Kappa’s largest in Poland and one of the most high-tech and modern packaging plants in Europe. In addition to the state-of-the-art machinery installed at the plant, it is expected that a further 50 new jobs will be created, bringing employment to more than 250 staff at the location. These new jobs will enable the plant to further serve its customer portfolio that includes some of the leading brands in the FMCG food and beverage sectors and serves both international and local customers. The investment in Poland includes the installation of a new high-tech corrugator and a range of ultra-modern converting machinery. The plant was also equipped with a new finished goods warehouse, which can accommodate upwards of 12,000 pallets. The investment will ultimately double the output from the plant which now spans 37,500 m2.