Smurfit hints that more savings can be unpacked from merger

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Irish packaging group Smurfit merged last month with US rival WestRock and moved its main listing to New York

Smurfit WestRock chief executive Tony Smurfit, centre, at the ringing of the bell ceremony when its shares began trading on the New York Stock Exchange last month. Photograph: NYSE

But has Wall Street missed the real story? A recovery in demand from a downturn across the industry last year is gaining momentum, with the volume of corrugated boxes sold by Smurfit Kappa increasing 3.1 per cent in the quarter.

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