Smurfit Westrock, formed out of the merger of packaging giants Smurfit Kappa and WestRock, has announced a primary listing on the New York Stock Exchange and standard listing on the London Stock Exchange.
The combined business, the merger of which was completed on 5 July, will have a presence in 40 countries around the world, and boasts a 'unique and unrivalled ability to provide its customers with the most diverse, innovative and sustainable range of renewable and recyclable packaging solutions', it said in a statement.
'Partner of Choice'
According to Tony Smurfit, Smurfit Westrock chief executive and the former chief executive of Smurfit Kappa, the combination of the two firms creates a world-leading sustainable packaging player, bringing together a tremendous depth of experience and expertise from both companies.
"We believe that this combination has created the ‘go-to’ leader and partner of choice in sustainable packaging. I’m proud to be chosen to lead this great team of people.”
'Overwhelming' Shareholder Support
Elsewhere, Ken Bowles, chief financial officer, said that the shareholders of both firms have "overwhelmingly supported" the coming together of the businesses.
"Smurfit Westrock has a unique geographic footprint and through our industry leading applications, an unparalleled ability to provide value for our customers," he added.
Trading on the both the London Stock Exchange and New York Stock Exchange commenced on 8 July.
In the first quarter of its financial year, Smurfit Kappa reported revenue of €2.7 billion and EBITDA of €487 million, with an EBITDA margin of 18.0%. The company also saw continued growth in corrugated box volumes, it noted.
