SKG writes down net assets by $76M due to Venezuela seizure

SAO PAULO, Nov. 6, 2018 (PPI Latin America) -Containerboard and packaging paper producer Smurfit Kappa Group wrote down its net assets by Euro 66 million ($76 million) due to theseizure of its operations in Venezuela, the company stated in its third quarter trading update report.

According to a local newspaper, SKG said it will seek compensation from Venezuela for the seizure of its operations in that country. "The actions taken by the government are without precedent and Smurfit Kappa will diligently pursue its international rights in this regard, including the right to claim compensation through international arbitration proceedings under the ...

Back To Top
Speak with a sales representative now Contact Sales