Smurfit WestRock debuts on New York and London stock exchanges
09 Jul 2024 --- Smurfit WestRock has launched its primary listing on the New York Stock Exchange under the ticker “SW,” following the completion of the merger between Smurfit Kappa and WestRock last week. The new company also has a standard listing on the London Stock Exchange (LSE) under the ticker “SWR.”
Smurfit WestRock will operate in 40 countries, have access to 100,000 packaging experts and is expected to be worth roughly US$34 billion.
“Combining Smurfit Kappa and WestRock creates a world-leading sustainable packaging player, bringing together a tremendous depth of experience and expertise from both companies,” says Tony Smurfit, Smurfit WestRocks CEO. “We believe that this combination has created the ‘go-to’ leader and partner of choice in sustainable packaging.”
“The shareholders of both Smurfit Kappa and WestRock have overwhelmingly supported our combination. Smurfit Westrock has a unique geographic footprint and, through our industry-leading applications, an unparalleled ability to provide value for our customers,” adds Ken Bowles, Smurfit Westrock’s chief financial officer.
Global paper circularity
The tie-up is expected to boost paper packaging circularity globally, according to Rabobank experts.
Packaging industry analyst Neil Farmer tells Packaging Insights: “The Wall Street analyst ratings of the new company indicate the shares as a strong buy and I can see the company doing extremely well over the coming months.”
“Retaining a standard secondary listing on the LSE is also important for the future of its European operations, enhancing its ability to raise funds on the London market.”
“Without doubt, the deal will enhance the drive toward greater circularity in the global paper packaging market, which is a positive thing for most people.”
By Louis Gore-Langton
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