Smurfit Westrock reported third-quarter 2026 sales of USD 8.161bn and adjusted EBITDA of USD 1.205bn, a 14.8% margin, with cost inflation and softer converting volumes weighing on results. It expects full-year 2026 adjusted EBITDA of approximately USD 4.7bn, citing about USD 700m of additional freight and energy costs, and fourth-quarter adjusted EBITDA of approximately USD 1.3bn. Price increases across paper grades are being passed through, with the full benefit expected in 2027.
Why this mattersUSD 700m of freight and energy inflation at Smurfit Westrock, with price increases fully recovered only in 2027, shows containerboard pricing trailing cost inflation into next year.
- Full-year 2026 adjusted EBITDA forecast at approximately USD 4.7bn, citing about USD 700m of additional freight and energy costs
- Q3 2026 sales USD 8.161bn, net income USD 219m, adjusted EBITDA USD 1.205bn (14.8% margin)
- Fourth-quarter 2026 adjusted EBITDA outlook approximately USD 1.3bn
- Days-adjusted corrugated volumes down 3.4% in North America and 1.8% in Latin America, up 0.4% in EMEA & APAC
- Agreed during Q3 to acquire CMPC's Chilean containerboard assets
- Quarterly dividend of USD 0.4523 per share payable 10 December 2026 to shareholders registered on 13 November
Smurfit Westrock has completed an upgrade costing more than EUR 11m (USD 12.3m) at its Anzio corrugated packaging plant near Rome, installing a Bobst Mastercut 2.1 six-colour flatbed die-cutter. The line adds more than 20m square metres of capacity for printed corrugated, shelf-ready and display packaging and raises hourly output by over 20%. The company plans additional shifts to raise utilisation of the new equipment.
Why this mattersMore print and die-cutting capacity near Rome strengthens Smurfit Westrock's supply to food, personal care and retail display customers in central Italy.
- Investment exceeds EUR 11m (USD 12.3m) at the Anzio plant near Rome, Italy
- New line uses a Bobst Mastercut 2.1 six-colour flatbed die-cutter with a working width over 2 metres
- Added capacity exceeds 20m square metres of corrugated packaging
- Hourly production efficiency rises more than 20 percent
- Plant employs about 120 people and serves more than 300 corporate customers
- Equipment suppliers include Bobst, Emmepi Group, New Aerodinamica and Koenig & Bauer Celmacch
Smurfit Westrock has scaled its EnduraGrip paperboard handle across Costco warehouses in the US and Mexico, replacing plastic carriers on Kirkland Signature orange juice three-packs. The mono-material handle uses the company's 27-point CarrierKote coated kraft paperboard and has received a Widely Recyclable pre-qualification from How2Recycle. It runs on existing filling and application lines without new capital investment.
Why this mattersA named retailer's switch to fibre handles in a heavy, cold-chain beverage format shows paperboard can replace plastic multipack carriers without new filling-line capital.
- EnduraGrip paperboard handle deployed across Costco warehouses in the US and Mexico
- Used on Kirkland Signature orange juice three-pack multipacks
- Made from 27-point CarrierKote, a coated natural kraft paperboard developed by Smurfit Westrock
- Handle received Widely Recyclable pre-qualification from How2Recycle
- Designed to run on standard filling and application lines with no new capital investment
- Handles ship flat, improving cube utilisation versus plastic alternatives
A decree signed by President Vladimir Putin on 15 October 2026 places three foreign-linked packaging producers in Russia under temporary management by OOO Management Company Capital Center: 12,600 ordinary shares of Kappa Rus, 99.71% of Menshen Packaging CIS and 100% of Eviosys Packaging Kuban. TASS names the owners as Georg Menshen, Sonoco Packaging Netherlands Investments and Sverige International Holdings, the vehicle through which Smurfit Kappa sold Kappa Rus to management in 2023. The decree responds to EU support for Ukraine; the Kremlin says it can be reversed.
Why this mattersMoving Russian units tied to Sonoco and Menshen into temporary management shows the exposure Western groups still carry in Russia, as do the buyers of businesses they sold there.
- A decree of 15 October 2026 transferred 12,600 ordinary shares of Kappa Rus, 99.71% of Menshen Packaging CIS and 100% of Eviosys Packaging Kuban into temporary management.
- TASS names the foreign owners as Georg Menshen GmbH & Co. KG, Sonoco Packaging Netherlands Investments B.V. and Sverige International Holdings AB.
- OOO Management Company Capital Center was appointed as manager.
- Kappa Rus, a Smurfit Kappa subsidiary until its 2023 sale to management via Sverige International Holdings, makes corrugating medium, containerboard and corrugated packaging; 2025 revenue was RUB 16.5bn.
- Eviosys Packaging Kuban is among Russia's largest tin can producers; Menshen Packaging CIS makes plastic packaging.
- The decree, which also covers Russian assets linked to Tarkett, responds to EU support for Ukraine; the Kremlin said it could be reversed.
- Dagens industri identifies Swedish businessman Patrik Ström as the owner behind Sverige International Holdings
- Kappa Rus comprises three corrugated board plants, one paper mill and one bag-in-box facility
- Sverige International Holdings booked Kappa Rus shares at SEK 933m (USD 94.3m) in its 2024 annual report
- Ström retains legal ownership of the shares but loses operational control and dividend rights
- Belgian hygiene group Ontex is also named among companies whose Russian assets were placed under temporary management.
- The Kremlin linked the move to earlier September 2026 seizures affecting Nestle and retailers Auchan and Metro.
- Russia cites the EU's freeze of about EUR 210bn (USD 235.7bn) in Russian sovereign assets as a trigger for the decree.
- Combined annual revenue of the five entities named in the decree, including Tarkett and Kappa Rus, exceeds RUB 50bn (EUR 532m)
- Ontex RU, part of Belgian hygiene group Ontex, was also placed under temporary state management in the same decree
- The appointed manager, referred to as Centre Capital, is headed by Marat Mirkhaydarov, a former regional governor's chief of staff
- Ontex Russia, with about 350 employees, a Noginsk plant and a Moscow sales office, was placed under interim administration under the same decree mechanism
- Ontex Russia accounts for about 5% of group revenue and 7-8% of adjusted EBITDA under IFRS
- Ontex says it is investigating the measure and will consider actions to protect its assets and operations
- Flooring maker Tarkett's Russian assets were confirmed as covered by the same decree mechanism, alongside Menshen Packaging CIS, Kappa Rus and Eviosys Packaging Kuban
- The Kappa Rus manager appointed under the decree is identified as Centre Capital, a company registered in February 2026.
- Patrik Strom is named as the Swedish businessman holding formal share ownership of Kappa Rus despite losing operational control.
- Ontex, alongside Tarkett and Menshen, is named as a group whose Russian assets were placed under state administration the same day.
Smurfit Westrock is investing about USD 23.9m (BRL 120m) to modernise its corrugated packaging plant in Blumenau, Santa Catarina, between 2025 and 2027, covering new machinery, automated production lines and a larger shipping warehouse. The spending continues even as Brazil's Resolution Gecex 852, published in February 2026, raised import duties on corrugators, printers, die-cutters and other capital equipment to as much as 20%. Smurfit Westrock has separately committed USD 199m (BRL 1bn) in Brazil over two years, while Klabin's chief executive said in August the group has no new investments planned and BO Paper put USD 18.6m (BRL 93.2m) into its Jaguariaiva unit.
Why this mattersContinued spending despite import duties of up to 20% on converting equipment shows Smurfit Westrock absorbing higher capital costs to automate Brazilian corrugated capacity.
- Smurfit Westrock is spending about USD 23.9m (BRL 120m) to modernise its Blumenau plant from 2025 to 2027, adding machinery, automated lines and a larger shipping warehouse
- Smurfit Westrock has operated in Blumenau for more than 40 years; the unit produces corrugated board packaging
- Smurfit Westrock has announced a separate USD 199m (BRL 1bn) investment programme in Brazil over two years
- Brazil's Resolution Gecex 852, published February 2026, restructured tariffs on more than 1,200 products, including capital goods, IT and telecoms equipment and industrial machinery, with rates reaching up to 20%
- Imported machinery accounted for 45% of machinery and equipment consumption in Brazil in 2025
- Klabin's chief executive said in August the group has no new investments planned; BO Paper invested USD 18.6m (BRL 93.2m) in its Jaguariaiva unit in Parana
DS Smith, part of International Paper, has deployed a supply chain traceability platform across more than 250 manufacturing plants and facilities in over 30 countries, built with Accenture and software provider osapiens. The system is initially focused on materials covered by the EU Deforestation Regulation, tracing fibre through the EMEA supply chain from origin to production and distribution, and has engaged more than 1,000 suppliers.
Why this mattersShows how fibre packaging producers are building EUDR compliance infrastructure at group scale, a template other converters and box makers will need to match.
- Deployment covers more than 250 manufacturing plants and facilities in over 30 countries.
- System built with Accenture and software provider osapiens, using the osapiens HUB platform.
- More than 1,000 suppliers have been engaged through the programme.
- Since implementation, more than 25,000 supply chain workflows have been executed.
- Nearly 25,000 land plots have been monitored automatically for EUDR compliance.
- Almost 10,000 compliance cases have passed through automated case management.
Flexible Packaging Europe's aseptic bag market group ABMA has started a three-year cross-industry project to build a collection and recycling system for industrial aseptic bags, used to transport tomatoes, fruit preparations and juices, ahead of EU PPWR recyclability requirements taking effect on 1 January 2030. Participants include Smurfit Westrock, Aran Group, Goglio, Hansin, Kagome, Kraft Heinz and Tesseraux; ABMA warns that without a recycling system the bags could be barred from the EU market, disrupting supplies of tomato and fruit-based food products.
Why this mattersIf unresolved by 2030, non-recyclable multi-material aseptic bags could be excluded from the EU market, threatening supply continuity for major food processors and their packaging suppliers.
- ABMA represents about 90% of the global industrial aseptic bag market
- Industrial aseptic bags range from 220 litres to 1,600 litres and combine polyethylene with barrier materials such as metallised PET, aluminium foil or polyamide
- PPWR recyclability requirements for packaging placed on the EU market apply from 1 January 2030
- The initiative is a three-year project covering technology qualification, an EPR-compliant collection scheme, Design for Recycling guidelines and recyclate food-contact suitability
- Participating companies are Aran Group, Goglio, Hansin, Kagome, Kraft Heinz, Smurfit Westrock and Tesseraux
Smurfit Westrock has agreed to buy CMPC's Chilean containerboard and corrugated business for USD 420m, a post-synergy multiple of less than 6 times adjusted EBITDA. The assets are a recycled containerboard mill in Santiago with a paper machine of about 250,000 tonnes a year, a fibre collection network, three corrugated plants and one moulded tray facility. Completion is expected in the first half of 2027, subject to customary conditions including regulatory approvals, and will be funded from Smurfit Westrock's own liquid resources.
Why this mattersSmurfit Westrock says the purchase gives it the leading Chilean containerboard and corrugated position, and it links fibre flows with Argentina, Peru, Ecuador and Brazil.
- Consideration is USD 420m, a post-synergy transaction multiple of less than 6 times adjusted EBITDA.
- Assets comprise one recycled containerboard mill in Santiago with a fibre collection centre network, three corrugated plants and one moulded tray facility.
- The Santiago paper machine produces approximately 250,000 tonnes per year.
- Smurfit Westrock intends to fund the transaction from its own liquid resources.
- Completion is expected in the first half of 2027, subject to customary closing conditions including regulatory approvals.
- The acquired mill is intended to feed recycled paper into Smurfit Westrock's Argentina, Peru and Ecuador operations and take kraftliner from Brazil and North America.
- The acquired units are named Envases Impresos Cordillera and Chilena de Moldeados (Chimolsa)
- Corrugated plants are located at Buin, Til Til and Osorno, alongside the Puente Alto paper mill
- The business employs about 1,500 people and operates a 12-site paper and cardboard recovery network
- Completion requires approval from Chile's National Economic Prosecutor's Office
Smurfit Westrock has launched an online store in Colombia targeted at micro, small and medium enterprises, offering customisable boxes and bags in orders from 20 units with digital printing from 10 units. The platform is aimed at Colombia's roughly 1.7 million formal businesses, of which 99.5% are MSMEs, and forms part of the group's digital transformation strategy.
Why this mattersExtends corrugated packaging demand to low-volume SME buyers, a channel large converters have typically underserved with standard high-minimum order models.
- Orders start from 20 units, with digital printing customisation from 10 units
- Delivery estimated at 3 to 5 business days across Colombian regions
- Colombia has about 1.7 million formal companies, 99.5% classed as MSMEs generating 79% of employment
- Smurfit Westrock has over 80 years of operations in Colombia and collects over 200,000 tonnes of paper and board annually
- The company holds 67,476 hectares of forestry land, including 22,678 hectares of protected natural forest
- Andrés Muñoz is CEO of Smurfit Westrock for Colombia, Ecuador and Peru
US District Judge Mary M. Rowland denied on 4 September 2026 the joint motion to dismiss and the separate motions by Packaging Corporation of America and Pratt Industries in the containerboard price-fixing class action brought in July 2025 by Artuso Pastry in the Northern District of Illinois. The 49-page decision found six of seven alleged lockstep or near-lockstep price increases sufficient to show parallel conduct, lifting the stay on discovery. Defendants must answer by 29 September 2026 and file a joint status report with discovery dates the following week.
Why this mattersThe case moves to discovery, exposing containerboard producers to damages claims and scrutiny of a market the plaintiff says five players now control with at least 85% share.
- Judge Mary M. Rowland denied the joint and the individual dismissal motions in a 49-page decision on 4 September 2026 in the Northern District of Illinois.
- Defendants must answer the complaint by 29 September 2026 and file a joint status report with discovery dates the following week.
- The case, Artuso Pastry Foods Corp. v. Packaging Corp. of America et al, was filed in July 2025 and alleges seven rounds of parallel price increases from November 2020 raising prices by about 30%.
- The court found six of the seven alleged coordinated increases plausible, including a USD 50-per-ton rise implemented on the same day after two and a half years without an industry increase.
- Ten defendants remain, including PCA, Pratt Industries, International Paper, Georgia-Pacific, Greif, Smurfit Kappa, WestRock and three Cascades entities.
- Graphic Packaging International and Smurfit Westrock were dismissed late last year, cutting defendants to 10 from 12; the court gave no reasons.
Smurfit Westrock is seeking USD 473m from Venezuela in compensation for packaging assets expropriated under the land-reform and nationalisation campaign begun by president Hugo Chavez in 2007. The claim has remained unresolved through the presidency of Nicolas Maduro.
Why this mattersA resolution would set a precedent for how multinational packaging producers recover value from state expropriation in unstable jurisdictions.
- Smurfit Westrock is seeking USD 473m in compensation for packaging assets expropriated in Venezuela
- The seizures followed the land-reform and nationalisation campaign begun under president Hugo Chavez in March 2007
- The dispute has continued unresolved under president Nicolas Maduro
The US House Energy and Commerce Committee voted 28 to 19 on 16 September 2026 to send H.R. 7502 to the House floor, a bill that would count advanced recycling as recycling and set a national standard for recycled-content labelling claims, overriding state rules. The American Forest & Paper Association opposes the bill. Conservative group Consumer Action for a Strong Economy has written to International Paper, Pratt Industries, Kimberly-Clark, Packaging Corporation of America, Smurfit Westrock and Procter & Gamble, all of which have executives on the AF&PA board, asking them to make the association drop its opposition or reconsider membership.
Why this mattersFederal rules on recycled-content claims would set one standard across the states and expose the split between paper and plastics recycling interests.
- The House Energy and Commerce Committee voted 28 to 19 on 16 September 2026 to advance H.R. 7502, sponsored by Republican New York Rep. Nick Langworthy.
- The bill would set a national standard for when a product can be labelled as made with recycled material and would override state rules on those claims.
- AF&PA opposes the bill, spokesperson Lindsay Murphy told Politico; the association says recycled-content claims should reflect the material actually in the product.
- Consumer Action for a Strong Economy sent September letters to International Paper, Pratt Industries, Kimberly-Clark, Packaging Corporation of America, Smurfit Westrock and Procter & Gamble.
- The letters ask each company to make AF&PA stop opposing advanced recycling legislation or reconsider its board membership.
- Texas Rep. Marc Veasey was the only Democrat to vote for the bill, and no Senate version has been introduced.
Smurfit Westrock's German unit has introduced ShelfSmart.AI, a tool that assesses how packaging designs perform against rivals on retail shelves. It combines shelf photography, 3D store models and eye-tracking data, and was used in a redesign for dairy brand Molkerei Ammerland. The launch was announced on 16 September 2026 in Hamburg.
Why this mattersA data-based shelf-impact service gives Smurfit Westrock a way to differentiate its design offering as brand owners compete for retail shelf attention.
- Smurfit Westrock Deutschland launched ShelfSmart.AI on 16 September 2026 in Hamburg.
- The tool analyses shelf visibility and competitive impact using market data, digital visualisation and physical testing.
- It draws on existing shelf photography, 3D store models and eye-tracking studies.
- The tool was applied in a packaging redesign for dairy company Molkerei Ammerland.
- Boris Maschmann, CEO of Smurfit Westrock Deutschland, presented the tool.
Smurfit Westrock is closing its SSK cardboard reprocessing mill in Birmingham, with annual capacity of 200,000 tonnes, following a consultation process. The closure coincides with a net 1.25m tonnes of new UK cardboard reprocessing capacity due by 2027, led by Palm's conversion of its King's Lynn newsprint mill and Eren's new Shotton Mill.
Why this mattersThe UK's cardboard recycling base is being reshaped, with new large-scale corrugated capacity offsetting the loss of older reprocessing sites such as this one.
- Smurfit Westrock is closing its SSK Mill in Birmingham, with 200,000 tonnes annual cardboard capacity, after a consultation.
- Palm is converting its King's Lynn mill in Norfolk from newsprint to corrugated case material, adding 700,000 tonnes annual capacity.
- Eren's new Shotton Mill will add 750,000 tonnes annual capacity plus 67,000 tonnes of tissue paper.
- Essity's Prudhoe mill is due to be fully operational by 2027 and expected to take some cardboard as feedstock.
- The UK reprocessed about 1.3m tonnes of cardboard in 2025 out of roughly 4m tonnes collected, with 2.7m tonnes exported.
- Net UK cardboard reprocessing capacity is expected to rise by 1.25m tonnes by 2027 after accounting for the Birmingham closure.
Smurfit Westrock, Pratt Industries and the United Steelworkers filed trade petitions on 9 September 2026 alleging dumped and subsidised pizza box imports from China, Malaysia and Turkey are harming the US corrugated industry. The petitions, submitted via law firm Wiley Rein, ask the Department of Commerce and the International Trade Commission to investigate duties on boxes sold at margins the filers put as high as 568.5% below US prices. A preliminary ITC injury ruling is expected by late October 2026, with final determinations likely in late 2027.
Why this mattersA successful case would raise landed costs for imported pizza boxes and could shift US foodservice packaging volume back to domestic corrugated producers.
- Petitions were filed on 9 September 2026 by the American Pizza Boxes Manufacturers Coalition, made up of Smurfit Westrock and Pratt Industries, with the United Steelworkers.
- Alleged dumping margins are 96.62% to 568.50% for China, 110.73% for Malaysia and 120.65% to 210.37% for Turkey.
- A countervailing duty petition targets Turkey alone, alleging Turkish government tax breaks and discounted inputs plus Russian cross-border subsidies.
- Pizza box imports from the three countries rose at least 130% between 2023 and 2026.
- Commerce must decide on initiation within 20 days of filing; the ITC votes on preliminary injury by 26 October 2026.
- Final dumping, subsidy and injury determinations are expected in late 2027, though duties can attach from the preliminary determinations.
Smurfit Westrock is extending a decarbonisation programme that pairs routine equipment replacement with removal of Scope 1 and Scope 2 emissions, having started at four French sites and completed conversions at five further European sites, according to a company blog of 8 September 2026. The group targets around 20 sites with net-zero Scope 1 and Scope 2 operations by the end of 2027, using heat pumps, electric forklifts and renewable electricity certificates.
Why this mattersBundling decarbonisation into replacement capex gives converters a business case for Scope 1 and 2 cuts at small sites; larger integrated mills, where subsidies may help, come next.
- Programme began at four French sites: Dore, Distribution Vin, Nord Emballages and Somica, as described in a company blog of 8 September 2026
- A further five European sites have already completed similar conversions
- Target is around 20 sites with net-zero Scope 1 and Scope 2 emissions by the end of 2027
- Measures include heat pumps, electric forklifts and material handling, adiabatic cooling and renewable electricity certificates
- The programme sits within the group's Net Zero Transition Plan, which also sets 2030 Scope 1 and 2 targets, following the 2024 combination of Smurfit Kappa and Westrock
- Larger integrated sites are being evaluated next, where government subsidies could help accelerate investment
Smurfit Westrock published results on 3 September from a study of consumer sorting of bag-in-box packaging (plastic bladder vs cardboard) at recycling sites in four European countries. France recorded the lowest separation rate at 67 percent, against 97 percent in Germany, 93 percent in Belgium and 87 percent in Sweden. The company attributes the French shortfall to collection systems that do not require cardboard-plastic separation, while producer responsibility body Citeo-Adelphe launched a sorting awareness campaign in December 2025.
Why this mattersLow sorting rates in France risk sending recyclable bag-in-box material to incineration, complicating compliance with the EU's 2030 PPWR recyclability requirements.
- Smurfit Westrock unveiled the study results on 3 September
- France's bag-in-box separation rate stands at 67 percent, the lowest of four countries studied
- Germany recorded a 97 percent separation rate, the highest among the countries studied
- Belgium recorded 93 percent separation and Sweden 87 percent
- At the Antwerp, Belgium site, 77 percent of collected bag-in-boxes came from the wine market
- Citeo-Adelphe launched a sorting awareness campaign in France in December 2025
