Jefferson Smurfit Group has announced the acquisition of a group of companies in Argentina for $13 million (€14.8 million), including assumed debt. The group of companies comprises Cartonex, Cartonex Bernal and Usina Bernal. They are being taken over by Smurfit Argentina, a subsidiary of the Smurfit group.

The new operations include two corrugated plants, one located near Buenos Aires and one in the wine-producing region of Mendoza, with a combined annual production capacity of 50,000 tonnes, and a recycled container board mill with annual production capacity of 70,000 tonnes. The acquisition makes the group the number two corrugated producer in Argentina with an 18 per cent market share, according to Smurfit Latin America's chairman and chief executive, Dr Alan Smurfit.