Jefferson Smurfit has completed the sale of its Condat mill in France to Lecta for £215 million, a deal that will see Smurfit end up with a 15.3 per cent stake in Lecta at a cost of £36 million. Lecta is a holding company which now owns the Condat mill and the Cartiere del Garda operations at Lake Como in Italy.

Smurfit finance director Mr Ray Curran has resigned from the board to take up the job of deputy chief executive of the merged Smurfit Stone Container Corporation in the US.