Smurfit-Stone Container Corporation was a global paperboard and paper-based packaging company based in Creve Coeur, Missouri, and Chicago, Illinois, with approximately 21,000 employees.

JSC’s roots go back to 1974, when Dublin, Ireland-based Jefferson Smurfit Group (JSG) acquired partial interest in Time Industries, a Chicago-based paper and packaging company.

In the 1950s, Stone expanded outside of Chicago, buying and building corrugated container plants in Pennsylvania, Ohio, Indiana, and Michigan.

In conjunction with the merger closing, JSG purchased 20 million shares of JSC’s stock from MSLEF II and certain other investors.

In March 2003, SSCC exchanged its European assets for JSG’s 50 percent ownership of Smurfit-MBI, a Canadian packaging company, and $189 million cash.

[6] The newer plant was to employ 145 people and supply companies in the pizza, oil lubricants, detergents and household goods, cooking, and health care industries.

The consumer packaging segment represented 20 percent of net sales and consists of CRB, folding carton plants, and multiwall and specialty bag operations.

On 15 May 2006, the firm reported the definitive sale for $1.04 billion in cash of its Consumer Packaging division to Texas Pacific Group.

[11][12] The company's CEO claims Smurfit-Stone was forced to file bankruptcy because of higher operations costs, burdensome debt levels from prior corporate mergers, and weakened demand for packaging caused by a global economic recession.