The Chancellor of the Exchequer, George Osborne MP, has joined Tracey in welcoming a £98m investment by Smurfit Kappa in its Townsend Hook paper making facility in Snodland.  The installation and commissioning of a new machine at the Snodland site is due to be completed and operational by the end of 2014 and will secure the supply of paper for all of Smurfit Kappa’s packaging operations in the UK & Ireland.  The investment continues the 150-year history of paper making at Townsend Hook.

The Chancellor said: “This is great news from Smurfit Kappa. I’m delighted the town of Snodland and surrounding areas will benefit from both direct and indirect economic and employment opportunities as a result of the company’s £98m investment in the paper mill.  It is a vote of confidence in the UK economy and will maintain the historical link between Snodland and the paper making industry”.

Tracey said: “This massive 3 year investment from Smurfit Kappa is very good news not just for those in Snodland but for the wider local and national economy.  The investment will not only benefit those who work at the facility but all those who supply for or purchase from the site.  The positive impact of this announcement should not be underestimated”.  

For further information, please see below for the Smurfit Kappa press release.