Jefferson Smurfit Group Plc is acquiring the
25 percent of Austrian firm Nettingsdorfer it did not already own, to help
simplify its corporate structure.
Smurfit said the deal would also help
reinforce its position as one of Europe's main producers of kraftliner, a type
of paper that has a particularly strong texture.
Smurfit added Nettingsdorfer would give it
access to growing markets in Eastern Europe through the Austrian firm's 40
percent stake in Duropack. Duropack, which is part of the Austrian Constantia
Group, has plants in the Czech Republic, Hungary, Slovakia and Slovenia.
"This investment further simplifies our
structure in Europe and we now have...consolidated our position in Europe as
the leading kraft liner producer in Europe with annual production capacity of
900,000 metric tons," Smurfit Europe Chief Executive Tony Smurfit said in
a statement.
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