Smurfit brothers lead takeover of New Zealand paper mill

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Packaging entrepreneurs Dermot Smurfit and Michael Smurfit have led the takeover of a New Zealand paper mill for an undisclosed price, saving the plant from closure and preserving 170 jobs.

The Whakatane mill had been earmarked for closure by the end of June after its owner and biggest customer, Swiss packaging company SIG Combibloc, decided earlier this year that the plant, which made liquid packaging board used for milk and juice cartons, was not longer competitive in this market.


Source: The Irish Times


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