Smurfit Kappa Closes Spanish Factory

Source from:  Smurfit Kappa Group (SKG) 03/31/2008

Smurfit Kappa Group (SKG) will close its recycled containerboard mill in Valladolid, Spain, in the second quarter of 2008. In addition, SKG will take up to 80,000 tons of market-related downtime to optimize the group's supply-demand balance and to address an increase in inventory levels of recycled containerboard. The cash cost of these actions is expected to be mitigated through exceptional gains in 2008. Enditem