Smurfit Westrock remoulds post- merger divisions
Smurfit Westrock, a global leader in paperboard containers and boxes, recently announced a significant reorganisation of its business segments following its merger with WestRock Company. The reclassification is in line with the company’s operational structure after the merger was completed on 5 July 2024.
03 Oct 2024 | By WhatPackaging? Team
Smurfit Westrock announced a reorganisation following its merger with WestRock Company.
This has led to the operations being cleaved into 3 segments- Smurfit Westrock Europe, MEA and APAC, Smurfit Westrock North America, and Smurfit Westrock Latin America.
The merger was reorganised as a scheme of arrangement under the Companies Act 2014 of Ireland culminating in Smurfit Westrock fully owning the subdivisions Smurfit Kappa and Westrock. The company will report its financial statements with the restructured version in implementation from the third quarter of 2024. Smurfit Westrock has drawn out unaudited supplemental financial statements to indicate the new structure to give the stakeholders a more comprehensive view of the company’s performance. These are not part of the official statements filed for administrative reasons.
The reorganisation is expected to reflect the company’s strategy to integrate its expanded footprint and streamline its reporting post the merger.
Smurfit Westrock, manufacturer of paperboard containers and boxes has also extended their Receivables Purchasing Agreement with Cooperatieve Rabobank U.A., New York Branch (Rabo) till 15 September 2025 and recently announced a dividend of 20 cents per share. These moves are part of the company’s strategy to manage its working capital and financial stability.