The Dublin-headquartered firm will raise prices by a further EUR 60 a tonne from 1 October following the same increase at the beginning of this month that the firm outlined when it published half-year results.
At the time, chief executive Gary McGann said the move was a response to increasing cost pressures and reflected the tough market conditions.
“Materially reduced containerboard inventories and the progressively deteriorating condition of the containerboard industry in Europe are significant factors that support this price increase,” he said.
In August, Smurfit Kappa revealed that sales for the first half of the year had dropped 18% to EUR 3.0bn compared to the same period in 2008. Pre-tax profits dropped to EUR 39m from EUR 145m last year.
A number of other corrugated firms, including M-real and Stora Enso, have also announced price increases prompting concern among converters about their ability to pass price increases onto customers.
Smurfit Kappa declined to provide further comment when contacted by Packaging News this morning.
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