Smith had been suffering from lung cancer since July this year. He had spent the last 15 years working on the sales desk at the Nottingham branch of Rothera & Brereton, an operating division of PaperCo.
Carl Dearing, managing director of Rothera & Brereton, said: "Peter was very well known to the local trade for his terrific personality and enthusiasm.
"Peter was loved and respected by his colleagues and customers alike and he will be sorely missed by everyone that knew him," he said.
Smith started working with John Dickinson in the mid 1960s, followed by Robert Horne, Benjamin Gough paper and R.A Brands.
His funeral, which was held last Monday, was attended by more than 300 people from the industry.