Smurfit Kappa Group (SKG) announced a big jump in its 2011 profits and two new acquisitions, as it flagged up falling demand at the end of the year and the future risk that its Venezuelan operations may be seized by the Hugo Chavez-led government.
Smurfit Kappa Group (SKG) said a reorganization of its specialties segment would realize further efficiencies as it posted strong second quarter results. It also revealed that the Venezuelan Government had tabled proposals to seize thousands more hectares...
O-I has forecast faces a long legal fight with the Venezuelan Government over its decision to take over its glass packaging operations in the country, with a major issue likely to be the price the company receives for the plants.