Business Irish


Smurfit factory occupied by Venezuelan Government, company ‘entirely refutes’ allegations

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Smurfit Kappa said it “entirely refutes” allegations made against it by the Venezuelan Government.

Bloomberg reported that the authorities had temporarily occupied a Smurfit factory earlier this week in response to allegations from workers.

It reported Venezuela’s price regulator was looking into alleged abuse of a dominant position and had ordered price adjustments.

“The group has operated in Venezuela since 1986 to the highest business and ethical standards,” Smurfit Kappa said in a statement to the stock exchange, adding that the Venezuelan entity in questions represented less than 1pc of its earnings before interest, tax, depreciation and amortisation in the first half of 2018.

“Smurfit Kappa will continue to monitor the situation closely,” the company said.

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